New Zealand

Details

  • Service: Advisory, Business Performance Services, People and Change, Management Consulting, IT Advisory, Performance & Technology
  • Industry: Communications & Media, Electronics, Software & Services
  • Type: Business and industry issue
  • Date: 11/08/2011

Technology, Communications and Media

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Social media: the voyage of discovery for business 

With the explosion in use of social networking sites by the general public, more and more organisations are actively considering their own social media journey. 

This report was produced by KPMG in Australia.

 

KPMG conducted research on the current experiences and future plans of Australian organisations who are already using social media

 

We detail insights and lessons learned by early adopters on their journey to generate real value for both their organisation and audiences.

 

Key insights

 

  • 42 percent of Australian businesses are actively using social media to reach their customers, are doing so whole-heartedly and expanding rapidly to achieve competitive differentiation and offer real value.
  • Listening is a key early and ongoing part of effective social media engagement.
  • Traditional communication processes don’t apply to social media channels, challenge the old ways of thinking around community engagement.
  • Strategy follows learning – there is no single, clear path to be followed, and mistakes are bound to happen along the way.
  • It's not free, it's resource heavy – Successful adopters believe it is essential to properly resource social media initiatives yet most had under-estimated the work involved in maintaining their social media presence.
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Video: Social media: the voyage of discovery for business

Video: Social media: Malcolm Alder
In this video, Malcolm Alder presents the findings of KPMG's research report, Social media: the voyage of discovery for business.