By 2014, nearly four out of five companies plan to invest in social technology to foster internal collaboration and to listen to customers.

Investing in becoming a social business—in helping your workforce deliver an exceptional customer experience—has never been more urgent. A 5% decrease in customer attrition can boost profits by up to 95%. And finding new customers can cost up to five times as much as keeping the ones you have.

Becoming a social business goes beyond building a social network. It demands capturing and analyzing the vast amount of data that the network creates. Harnessing that data can remove boundaries inside and outside your company. And before you know it, there will be no more “social business.” Only business.

Learn more about Social Business by reading “Liking” Isn’t Leading.