Social Media & the Corporate Sphere
The Evolution of Corporations in Social Media
The research document that I looked at is called the “Top 10 Social Media Research Studies for Public Relations Professionals,” which was written by the Institute for Public Relations. This article looked at how social media has impacted the professional world, which is a topic that is often overlooked when looking at networks and understanding how networks have changed the way we interactive with each other at a social level. In most research, we see the implications social networks have on personal relationships at the individual level; however, because of the vast number of people who use social media (according to this article – 42% of online adults use multiple social networking sites) is so large, it is very lucrative and profitable for companies to target their marketing efforts through different networks. In an effort to understand how social media and networks are impacting corporations, I thought I’d give a little insight into the social media efforts that I saw at the company I worked at in the past summer.
The company itself is a very conservative financial institution. Something to note about the finance industry is that discretion is a large reason behind the success of these companies. The Institute for Public Relations looked at how companies use social media, but specifically, they also looked at whether companies recognize the risks involved with social media. In the 4th section of their research, it discusses “Social Media Education for Employees,” and to my surprised, it says that 62% of companies have no social media education program, yet it’s top priority. At the company I worked at, the social media policies were very strict – they did not allow social media to be used on-site and discouraged employees. Furthermore, their 7th section discusses how companies look at social media risk and reward. It says that 71% of companies believe that the risks associated with social media can be mitigated or avoided. This almost contradicts the fact that many do not have education programs, which are intended to prevent and mitigate any risks that employees might present to the company.
All in all, I think that social media is a powerful way for companies to expand their network and the reach they have to potential customers and clients of their services. As we’ve studied, social networks have opened up vast potentials and people are constantly connected and referred to by the technologies and systems we have in place. Through the degrees of connections that one can study with their networks, and the properties of Strong Triadic Closure – the potential for unlocking vast networks of groups of people is unlimited. Despite this, according to The Institute for Public Relations, only 25% of journalists prefer to be contacted via social media. Social media has a long way in making an impact in the institutional and corporate realm of networking and connections, but the impact will be enormous because of the reach and potential that social media networking has built up through individual networks around the world.
Sources:
1. http://www.instituteforpr.org/wp-content/uploads/Top-Social-Media-Research-Studies-for-PR.pdf
2. http://www.instituteforpr.org/top-10-social-media-research-studies-public-relations-professionals/