A comparison of the adoption of Social media in Forture 500 v/s Inc 500 companies brings to light some surprising results. This is based on a study was conducted by The University of Massachusetts Dartmouth Center for Marketing Research. It is a follow up to a similar study they conducted in 2007. The survey focused on six prominent social media – blogging, online video, podcasting, social networking, messaging/ bulletin boards and wikis and spanned 209 countries.
The results prove that social media has penetrated parts of the business world at a great speed. Though this shows that corporate usage of social media has doubles for Inc. 500 companies, the number is not great for Fortune 500 companies. Since the Inc. 500 represent a list of fastest-growing private US companies, in my view, it would be quite valid to assume that social media is also one of the key factors to the growth of these companies in the present scenario.
The study also dives deeper into each some of the social media across the Inc. 500 companies.
While social networking, online videos and blogging are the clear winners, even the least use podcasting has 21% adoption. 77% of the companies in the Inc. 500 use some or the other social media over the 57% in the previous year. This further proves the huge importance of social media in the fastest growing companies in the United States.
To another question – how important are social media technologies for your business the response was no less encouraging. A huge 78% said that it was either ‘very important’ or ‘somewhat important’. Only 20% said that it was ‘somewhat unimportant’ or ‘ very unimportant’.
Well, one thing is certain out of the study – the Inc. 500 are aggressively embracing social media, can the rest of corporate America afford to be far behind?
For the detailed report of the study, click here.