One recent industry survey reveals that many people in business leadership positions are not leveraging social media to its full advantage and are losing out on potential revenue as a result.

A study by research firm Frost & Sullivan and Sales Dot Two, which will be fully rolled out in November at the Sales Strategies in a Social & Mobile World conference, revealed that as many as 40 percent of sales leaders are not engaged in social media efforts. The report also found that sales executives could leverage the interactive websites as a way to identify prospects, make the sales process more efficient and find out what competitors were doing.

"The survey showed that in the Americas, sales executives foresee 'little to no increase' in resources in 2011," Sales Dot Two stated in a release. "Sales executives in Europe foresee a "moderate increase" in resources in 2011."

Other studies have suggested that more marketing executives are looking into social media strategies. A report released by the Fuqua School of Business at Duke University found that companies would be increasing the amount of money they spent on the effort to 10 percent of enterprise marketing budgets.

Bookmark and Share