Well, it's been a while but I've finally got through (read, absorbed, had nightmares about) all the literature gathered regarding the use of social media in the business arena. Submitting a literature review as part of my research project has proven to be a very good excercise though, as I've found some great writings, despite being a relatively new topic.
I would put the literature found into three broad categories: development; trends; and advisory. Development, in terms of new media companies, applications, devices and mediums. Trends, as in the changing interactions and relationships between companies, communities and individuals. Advisory, where people at the forefront of social media either as consultants or users are sharing their knowledge and offering guidance. Not a lot of academic literature amongst it all but this was not unexpected, academic publications can take 12-24 months to get out there so watch this space I guess.
From my review of the available literature it seems futile to centre my research around if companies should be utilising social media but rather what a social media strategy should consist of and why. This has helped shape my hypothesis as follows, which will be tested by further, more localised research: today's business must design and implement a social media strategy based on listening to and engaging with their customers.
This hypothesis may sound rather broad and underwhelming but what has become blindingly obvious is that for the most part "today's business" still doesn't get it. There is still a reluctance to accept social media, a reluctance to invest resources into social media and/or a temptation to see social media as another sales or marketing channel. Hence to words must, design, listening and engaging in the hypothesis above.
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