Magenta Multimedia has decided to incorporate social technology into its business to maintain its competitive advantage. It wo

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Scenario: Magenta Multimedia has decided to incorporate social technology into its business to maintain its competitive advantage. It would like to use technologies that allow it to engage with customers, and that also allow employees to communicate with peers. The company’s current customer demographic is older, but management would like to expand the appeal of the company and its products to millennials (while not ignoring its current customer base). The company was impacted by the recent economic downturn, but is now growing again and is seeing positive financial results. Despite this, senior management is extremely budget-conscious and sensitive to incurring new expenses.

• What       social technology strategy would you recommend?
• Why       would you recommend this strategy?
• How       would this strategy benefit the organization?
• What       type of social media metrics would you recommend the organization use to       ensure the social technology strategy is successful?
• Given       budget considerations, how would you justify the costs of your       recommended strategy?