Businesses will have to invest in a substantial shift in their thinking about accepted business models and rethink brand value creation to prosper in today's socially connected world, according to a recent global research by McCann Worldgroup.

The study, titled The Truths About Social, conducted across 19 countries, more than 30 focus groups, and 12,000 online responses, revealed insights about the impact of all things social  -- social networks, social experiences, social proof, and social businesses.

"There is no doubt about how consumers use social media to research, discover, and share any kind of information," admits Dr. Milan Agnihotri, Group Director, Brand Planning and Innovation, McCann Worldgroup Malaysia. "Regardless of their personal views, most consumers use social media to engage with brands to expect better customer service, praise an experience, vent their feelings, gather information, and get better bargains."

One of the truths the research unveiled was that 75% of social network users globally agree that people share far too much information online, an indication that the nature of what is private of public has fundamentally changed.

The fruition of social media into a robust mechanism for social transformation is already evident. Today 40% of social networkers readily admit to looking at the online photographs of people they hardly know, with 25 percent reading a partner's or friend's text messages.

Interestingly, it is not uncommon for individuals and brands to juggle multiple identities online. People today use separate identities for work and play, or a "virtuous" and "popular" self.

Despite assertions by sceptics who claim that tools like Facebook, Twitter, and YouTube are merely distractions that these are mere tools to exchange trivial information, these critics have been proven wrong repeatedly.

Barely two decades ago, teenagers had a small group of friends, typically 4 - 7 people, they were acquainted with in school. Today, using social media, a typical teenager manages and maintains multiple, intersecting groups of friends. In this sense, 'connecting' to a broader network of friends has replaced the singular need to 'belong' to a tight-knit group of friends.

"A lot of fake friends, commonly known as 'disposable friends', have cropped up in the online spaces for people to be social," says Agnihotri. "Our study shows, however, that the values - truthful and genuine - that make a friend a real friend are quite clear. These values allow a friend to transcend the distinction between online and real life sociability."

Another truth about being social is the constant need to broadcast and share life stories, and recast the story with themselves as the protagonists. People now seek to define themselves by not only what they own or what they do but primarily by their ability to connect, to share, and to broadcast.

The role for brands, consequently, says Agnihotri, is to create unique experiences for that protagonist, giving them a reason to post about it. "In recent years, we have witnessed impressive examples of social media tools being used to promote brands. Smart brands can elevate their status by helping their audience to look cool or fun in front of their friends and followers."

The new social order also allows people to archive their experiences, reflect of their story, and contemplate their own identity.

Brands, too, can be part of this social journey. Brands that offer events and experiences to consumers often enjoy a lifecycle within the consumer timeline, with each stage - anticipation, experience, aftermath, afterglow, and reminiscence - reflected through social media.

The McCann study shows that consumers referred to brands by other influential consumers or bloggers are more likely to make purchases. Among the 16 - 30 year olds globally, 90 percent agree that they will make it a point to tell their friends if a company or brand impresses them. In this respect, social proof is a powerful force in marketing. Brands must actively cultivate love communities of their fans and defenders.

Customers want value in exchange for socialising with brands. After all, being a social business is ultimately about encouraging an open relationship with customers where they trust the brand enough to share their personal information and understand how the exchange is beneficial to them, particularly as global concerns around privacy continue to mature.

"Obviously the leverage and influence that social media gives to netizens is rapidly impacting the business world," notes Agnihotri. "Social media serves as a sounding board to share ideas, as well as a means to punish irresponsible behaviour by brands and businesses."

In the near future, there will be many more instances of consumer-initiated protests and boycotts. Perhaps now is the time for companies and brands to recognise that consumers want to entertain their own audience, and that love communities can be nurtured through social media.

"We are now living in a brave new world of sharing," Agnihotri admits. "While it's important for brands to support this movement, they must do so in a safe and responsible way as privacy concerns is also growing amongst consumers."

Consumers will play a big role in transforming profit-oriented businesses into purpose-driven enterprises. The rewards for companies and brands are potentially enormous. The payoff is the opportunity to become globally trusted brands based on shared values.