Social Media has today touched every aspect of life and business. If we follow the Companies practices and their focus on the Social Media  today it is still not fully harnessed. There are many companies who have budgeted and made it a practice, there are others who say social media is still part of their marketing plan more as a means and then there are others who have not adopted and yet to harness it the way it can reap the benefits.
 
They in a way are still trying to find out different Channels, understand how to best use the different channels,  in particular which one to choose and gauge their effectiveness and hence integrate social media into their Strategic road map.
 
Despite the vast potential social media brings in Organization worldwide are primarily using the same for mostly promotions or marketing campaigns as has been seen in most cases. Now using the platform as a One way Promotional Channel is good and right step forward but how many are actually tracking, analyzing the consumer tastes, preferences and their feedback on such channels.

We have all read in past in Conventional Management Theory that a dissatisfied customer will tell ten people. But this generation and the ones to come due to the advent of Internet & social media in particular has the platform and all the tools to reach millions within a second.

This is the reason why and where the companies should also focus as it can give lot of insights and ensure the Social media in business gets its 360 degree view.
 
In my research on Organization’s and interacting with few think tanks what I learnt is they are still scouting for Best Practices.
 
In addition to what I said earlier, What they should do is try to figure out what will be an ideal budget given their Industry and Volume of Business. How their Overall Strategic plan and in specific Marketing plan looks like for next 3 years, Should they specifically dedicate someone or team for Social Media Management, how to get integrated  and seamlessly align with the Business Plan etc. are few questions they should find answers to quickly.
 
One who is able to quickly harness and do all above consistently with time to come will be able to differentiate and get the much needed Competitive advantage.

Social Media is here to stay and will grow much faster than we expect.