Brands ‘not harnessing social media’

Some of the world’s biggest brands are failing to harness the power of social networking, according to a new report.

The 2008 Social Media Sectors study from search conversion agency Tamar revealed that such networks are used to praise companies as well as to discuss negative experiences.

Head of social media Henry Elliss explains: “More vociferous consumers are using social media as a platform to highlight positive experience, not just the negative.

“Failure by brands to engage with groups set up by consumers could see opportunities to engage with customers and boost revenue slip by.”

The travel and financial sectors are particularly failing to harness the power of social networking, while retailers are more likely to already be benefiting from the medium.

Confectioner Cadbury relaunched its Wispa chocolate bar in light of pressure from social media campaigners.

Groups on MySpace and Facebook succeeded in resurrecting the brand, which had been retired due to complications in its manufacturing process.