Enterprise Social Software Will Be A 2 Billion Dollar Business By 2014May 30, 2011 6:11 pm
We spotted this today:
“IDC forecasts that emerging social platforms market will generate revenues of nearly $2 billion by 2014, experiencing a compound annual growth rate of 38.2% over the 2009-2014 forecast period.
The reports goes on to state that when conducting ROI on social business initiatives, the traditional rules of business still apply. This is regardless if a company deploys social business initiatives to assist customer service, marketing, public relations, product innovation, employee collaboration, or other functional areas of the organization. The report comments, “It is rare that organizations know how to calculate ROI for traditional company projects; the addition of social business initiatives adds another twist, making it seem difficult to calculate social business ROI, but in reality it is possible.”
Statistics Source: FastForwardBlog