Companies Struggle To Manage Social Media

A new report from Altimeter Group warns companies and brands about being overwhelmed by the proliferation of social media.

The study found global corporations are now struggling to manage an average of 178 business-related social media accounts, spanning Facebook, Twitter, LinkedIn, YouTube and Foursquare, among others. “Beyond coordination challenges, unchecked accounts and disparate customer interactions expose brands to a host of legal, compliance and fragmented brand-perception risks,” stated the report, authored by Altimeter analyst Jeremiah Owyang. Social media has often been harnessed haphazardly for marketing, sales, customer support and product development. While 70% of businesses said social media efforts met company objectives, only 43% had a formal strategy to address how social will meet specific business goals.