Friday, September 7, 2012

Social Media and the Fortune 500

Last week, the University of Massachuestts Dartmouth released a study about the use of social media by the Fortune 500.
These research efforts are fun to examine and try to poke holes in as it always looks like the Fortune 500 doesn’t ‘get it’. That may be true in some cases but it’s not a fair assessment across the board. There are some Fortune 500 companies that are running with social media like Coca Cola and their 50 million likes on Facebook.
Let’s take a look at some of the results from this study. First, blogging (and yes blogs should be considered part of the social media landscape, if you believe otherwise please explain in the comments).
This relatively low adoption rate is interesting and I guess there are myriad reasons for it. Of course, brands get special attention in many areas of the Internet so they may actually be less in need of the organic search bump that updated content in a blog can provide for sites. Whether it’s fear or simply not seeing the benefit, though, it still seems low with just over one quarter of these companies having a blog.
What about other areas of social media?
Once again, this is fun to look at from a 30,000 foot level but what is most important is HOW these companies are using social media. Being there is simply the first step. It’s like going to that dance as a kid in middle school. Getting there says something but asking that girl to dance says something completely different.


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