Monday, August 1, 2011

Improving Profitability via Social Media

Compared to making money, saving money may not seem like fun. Saving money, however, is what successful businesses do when they strategies to maximize their profitability. If your business can implement ways to reduce your operating costs, you'll be able to keep more of every euro that comes in the cashier.

Can social media help you save money? Absolutely yes!

We instituted a company wiki to help geographically dispersed teams share insights and best practices. The wiki has become a training tool for new employees and contractors, but it also has functioned as a virtual water cooler where people meet and share ideas.

Has it saved the company money? You bet!

We were able to take on more clients with fewer human resources, our initial training time has decrease considerably and our employees feel a collaborative spirit that has positively impacted moral. It's great to see talented people collaborate to identify and solve problems that, when left unsolved, cost time and money.

Social media is impacting all of these functional groups and more within our organization.

No comments:

Post a Comment