Aussie businesses ignoring the benefits of social media
by Keris Lahiff
Whether it's Facebook, Twitter, Google Plus or Tumblr, social media has undoubtedly gripped Australia and refuses to let go. And businesses that do not harness the potential of social media could be at a major disadvantage in the bid for consumer attention and loyalty.
According to KPMG’s recent social media study, Australian businesses are far behind global brethren in how they integrate business operations and social media. And, as more of customers’ time is spent online, businesses ignoring the social media opportunity are missing out on its potential benefits.
“Compared with other countries, Australian businesses are not capitalising on this online ‘buzz’ to listen to what their customers are saying, or to sell their products and services,” says national managing partner for KPMG’s digital economy practice Malcolm Alder. “Given Australians are one of the highest users of social media networks in the world, our businesses have a huge advantage in being able to leverage this channel for a business benefit, but at the moment, they are lagging behind.”
According to the survey, only 42 per cent of respondents reported their organisation had embraced social media, while half said the business hadn’t entered the space yet. This may not seem such a drastic gap until you consider that adopted rates in China are as high as 87 per cent, the US 71.5 per cent and India 70.2 per cent. Australia’s adoption rates were second last, just in front of Japan with the lowest adoption rate of 27.5 per cent.
“Organisations cannot afford not to be listening to what is being said about them, and at some point, interacting with customers in the space where they are spending their time – and increasingly, their money too,” says Alder. “Our analysis demonstrated that we can look at the experiences of both early business adopters and our overseas counterparts, to learn from them. If businesses do not get on board quickly, they may very well be left behind.
“Australian businesses need to catch up to its citizens.”
Published on: Monday, August 08, 2011