“Exploiting Social Networks in Business”
In the April 12, 2011 issue of Financial Times Online, Booz & Company Partner Mike Cooke and Principals Matt Mani and Aveek Guha (North America) wrote that it’s time for corporate leaders to incorporate social networking into their overall strategy and operational plans. “Companies now have an unprecedented opportunity to truly understand and target the right individual customers; with real data, they can understand where else their customers are doing business and why,” the Booz & Company authors wrote. “Undoubtedly, other uses are on the horizon that will magnify the impact of social networking.” Looking ahead five years, they added, the smartest companies will incorporate social networking into their business. “They will do so to spur innovation, accelerate sales, and vault past competitors,” Cooke, Mani and Guha wrote. “By embracing and integrating social networks now, there is real competitive advantage to be gained.”