Social Media Has Changed The Business Buying Process...

By Don Bulmer and Vanessa DiMauro

But how?

We are pleased to announce the launch of the 2nd annual New Symbiosis of Professional Networks research study.

Vanessa DiMauro, CEO, Leader Networks and I are leading this research as part of our 2010 Fellowship with The Society for New Communication Research (SNCR).

This annual study, explores how social media is impacting business by better understanding how business leaders use social media and social networks to support and inform their decisions. 

When we understand how social media changes professional decision-making, organizations can be more efficient, timely and supportive in how they interact with customers- ultimately leading to better engagement and decision-making in business.

Participants in this year's study will receive a free copy of the results. A link to the survey and last year's findings can be found on the research website.  

About the Research

The New Symbiosis of Professional Networks is an annual research study designed to benchmark the impact of social media on enterprise decision-making.

The social nature of decision-making has increased significantly, connecting generations of professionals to each other—changing the dynamics of customer relationship management, marketing, and communications – forever.

In the first study, we focused on professionals’ use of social media—and it all comes back to the strength of the relationship. Human relationships and peer-to-peer decision-making are inherently interrelated. 

Professional networks facilitate vast interactions, connections, and networks of people by enabling collaboration anywhere and at any time. 

Communities of practice, professional networks, social media, email, and SMS are among the tools that enable multi-channel access for individuals (employees, customers, partners, and suppliers).

In this second study (in the series) we will further examine the role of social media on decision-making among enterprise users and explore the dynamics of trust as well as the value of engagement and collaboration to support decision making and innovation across company operations for internal and external purposes.

The study explores the following questions:

• Is social media regarded as a trustworthy source of information for professionals?
• What do enterprise decision makers value most when interacting with peers through social media and social networks?
• How do enterprise decision makers use social media to gather information, advice and support peer collaboration; and how do they compare to traditional off-line networking and knowledge share?
• What tools and sources of social media are relied upon by professionals to make decisions?
• Will social media change the business and practice of enterprise-level operations (internal and external)?
• How do business leaders use social media for customer engagement/support; innovation of products and service; employee engagement; strategy development; sales and marketing?
• What has changed since 2009 in terms of social media usage and trust among professional decision-makers