Since the millennium, social media have grown from a teenage fad to an essential business platform. Social media have permeated enterprises, transforming the ways they engage with customers, partners, employees and other key stakeholders. Today, businesses that execute a digitally driven business strategy enjoy a significant competitive advantage in the marketplace. This paper provides a framework for businesses to create a digital strategy and develop an enterprise-wide engagement capability. It then uses specific examples drawn from a variety of industries to illustrate how marketing, customer service, product development and human resources can harness social platforms to build deeper customer relationships, innovate new products and services, and attract and retain talent.