In 2009, a report from the Altimeter Group in cooperation with the social platform WETPAINT, found that among the top 100 global brands, there was a correlation between the brand’s social engagement and its financial performance. The brands most engaged in Social Media Marketing show 18% revenue growth against 6% revenue decline for not involved brands. The study found similar effects in Gross Margins (+15% versus -9% respectively) and Net Margins (+4% versus -11% respectively). While more research is needed all indications point to the fact that Social Media marketing presents marketers with a very interesting strategic opportunity.
Then, we could put it in another way. Societies expect from enterprises to get involved in social media and may even get irritated when they see them not paying the proper attention to this expectation. Some fifteen years ago that I was running RISC Hellas, the sociocultural approach to consumer behavior, it was clear that a certain sort of activities towards the society were viewed as obligatory. We had named them “license to operate” and of course had nothing to do with official licenses. These were the “licenses” the society at large was issuing (literately), when companies were assuming non-obligatory social duties.