Five years ago, few general managers outside the technological industry had heard the term ‘social media’. As social networking services such as Facebook and Twitter broke loose on the mainstream business scene, the majority of companies stood on the sidelines trying to derive a meaning and develop a direction towards which the market was developing.
Despite the proliferation of corporate Facebook pages and Twitter accounts during the last couple of years, most businesses still effectively remain on the sidelines. The gap between the early adopters and those waiting to take the plunge has actually widened. While the average billion-dollar company spends $750,000 a year on social media, according to Bain & Company analysis, some early adopters such as Dell, Wal-Mart, Starbucks, and American Express invest significantly more. In some instances, the investment is tens of millions of dollars. Who is right—the early adopters or the companies still waiting it out?
This research would give an insight on how India being an early adopter is using social media as a strategy in the retail industry and their attenpt to gain real economic value from their investments in social media.
Social Media Strategy, Retailing Industry in India, Revenue Generation
