Social Media: The Move To Corporate

It is no longer just sneaking a peek to check facebook at the office or catch up on the latest gossip - social media is as much a part of business and functioning in the business world as email, the Bizhub at the end of the hall or the Starbucks downstairs in your building.

Quite simply, a clear indication is that many workers who are taking advantage of social networks to advance their careers, build their client base and stay in touch with what is happening in their industry.

In 2012 alone, it is projected that business will spend $200 million on online social networks to reach out to the business niche. This is expected to grow to over $400 million by 2014.

One of the best examples of the effectiveness of the medium is the popularity of LinkedIn, a social network for professionals. LinkedIn has grown from just over three million users in 2008 to almost 150 million in 2012 with two new members joining every second.

Networks like LinkedIn are an effective, multi-purpose outlet for businesses. They can be used to enhance product development and communicate with customers, for example.

This may account for why there are similar networks coming online almost daily aimed at almost every professional sector. Take, for example, MyCourthouse.com aimed at legal professionals, it has just over 1 million members. There is also Legal OnRamp and LawLink. Even some creative types have a network like Reel-Exchange. This vertical is for video and film professionals.

The differences between Facebook and LinkedIn are becoming fewer and fewer every day. Millions of business professionals and companies of all sizes have put up Facebook profiles in the last year. Realizing the potential, in 2009, Facebook jumped on the business bandwagon, entering an alliance with Visa. Hence, you will find the Visa Business Network for small businesses.

The fast-growing popularity of social networking sites make them hard to ignore for the business community. But the bigger question is how do we deal with them from an e-discovery perspective? As employees' online profiles start to match between LinkedIn and Facebook, where is the line drawn between business use and personal? 

 

Many businesses are currently facing the challenge of managing employees' online time. Companies are also having to come up with plans on how to manage the data on social networks that pertains to their company. Gone are the days of burying the corporate head in the sand and pretending that Facebook has no legal relevance. Almost daily, rulings are coming out discussing Facebook and their role in different business litigation matters.

Corporate CIOs and CTOs have to start looking at how to effectively managing an ever changing social media climate and topography. Because if they don't, what will become of their business?