Finding the Right Role for Social Media in Innovation

Many companies aren’t getting much benefit from incorporating social media into their new product or service development processes. One key to changing that is picking the best approach for your company.

By Deborah L. Roberts and Frank T. Piller

Spring 2016

Social media success stories have become widely shared narratives, highlighting the impact social media can have on companies’ fortunes. For example, Burberry Group plc, the London-based luxury fashion brand, relies heavily on social media to reach customers and fans.¹ As far back as 2011, Burberry was spending more than 60% of its marketing budget on digital media.² Increasingly, companies are attempting to navigate the social media ...