Fastest Growing US Companies are Rapidly Adopting Social Media
Here is what this study had to say.
A one year follow up on a study of social media adoption at 500 of the fastest growing companies in the US has found that familiarity with and use of blogs, podcasting, wikis, online video and social networking has skyrocketed in 2008 to nearly double what it was in 2007. 77% of respondents now report at least some use of a social media tool in their business. Facebook has grown to be the most popular Social Network, with Twitter shortly behind. LinkedIn encompasses some of that traffic, but the mainstream Social Media Sites that companies turn to as a Revenue Source are Facebook, Twitter and Blog Sites.
The University of Massachusetts Dartmouth Center for Marketing Research performed the study for Inc. Magazine and their findings confirm what previous studies have argued as well: social media use is now a major, mainstream activity. “We have known for some time that Social Media works as one of the most inexpensive, yet effective means of Marketing, it has just taken our Industry a little longer to find ways to track and prove it’s effectiveness”, says Kirsten Rhode, Vice President of Social Media with Genares.
The study was written up on Robin Good’s excellent blog Master New Media.
According to the study’s authors, “26% of respondents in 2007 felt that social media is “very important” to their business and marketing strategy. That figure rose to 44% in approximately one year. It is clear that this group of fast-growing companies considers the use of social media as a central part of its strategic plan.” In order to stay competitive in all areas, your business needs to have a robust Social Media Solution that is active in engaging with your core audience, your fans.
It’s notable that the study’s authors found much more extensive use and growth in use in the fastest growing 500 US companies than they found in the Fortune 500, the largest companies. It would be a logical fallacy to argue that the fastest growing companies are growing fastest because of their use of social media, but it is definitely a factor. Over 50% of these companies in today’s age know how important Social Media is for many reasons. It provides exposure on a whole new level, and is more effective and less expensive than traditional Marketing Strategies.
For more information on Social Media Marketing, please call Kirsten Rhode, Vice President of Social Media Today! 817.722.2844. Your Online Reputation is at stake!
