"The three biggest success factors for using social media effectively are protecting consumer data, having a corporate culture that values consumer opinions and responding rapidly to consumers who have issues about a company or its products," the report said.

It further said that since 2010, 64 per cent of the firms covered have assigned at least one full-time equivalent (FTE) to use public social networks like Facebook, Twitter and LinkedIn.

Only 10 per cent of enterprises are realising significant improvements to their business as a result of social media investments. Despite the hype and increased investments, it seems that enterprises are still struggling to make the most of social media, the TCS report said.

"Despite ready availability of digitised consumer to consumer interactions in social media, its use by companies is today largely limited to being a mechanism for B2C marketing," TCS Vice President and Global Head (Digital Enterprise) Satya Ramaswamy said.

Also Read: World's 10 Biggest Mobile Phone Manufacturers

Also Read: Meet The Executives Involved In Microsoft's Massive Reboot