Using social media for business: Terms you should know

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Social media can be a formidable business tool, not just for customer relationship management and marketing, but for gathering business intelligence and even developing new product ideas. To benefit from these information sharing networks, companies are learning to manage the social media lifecycle to get the right content out there to the right people at the right time -- and then to figure out how to use the resulting activity to better their business.


Internal collaboration in the enterprise has certainly been altered by social media, with tools like Yammer and now Facebook at Work offering new ways for employees to work together. But companies have also moved into the realm of "social business" to bring the consumer further into the enterprise fold and involve them not just at the end of business processes, but throughout. The needs, desires and complaints that consumers voice on social media platforms can be used to improve business operations, spark product ideas and, in turn, improve the social media strategy.

But how can companies tap into the connections on social media without turning to gimmicks or to creepy or downright unethical tactics?

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