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07:29 26th September 2011
Firms in the U.K. must invest more time and resources to understand how social media fits in with their business model, according to Tim Gibbon, director at Elemental, a communications consultancy.
"In the case of social media there has been a gold rush in both sectors, sometimes at the expense of the businesses, not really appreciating the opportunities and the drawbacks the channels can afflict if not used properly," Mr. Gibbon said.
He said at first the business community reacted with scepticism and some regarded social media as a "passing fad".
He said many brands were not able to advertise within social environments. But, he added, as social platforms, visitor traffic, subscribers and advertising models evolved, companies confidence has grown.
His comments emerged as Michael Norton, managing director at internet payment service, PayPoint.net, said a rise in mobile and social media fraud will likely impact negatively retailers in Britain.
Posted by Derek Oldman
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IT industry news: Firms 'should do heir homework before pursuing e-commerce'
Companies in the UK should first invest in market research before branching out into e-commerce, according to Andrew Corbett, membership services director for UKITA, a private sector organisation...
