Sunday, 30th January 2011
Knowledgespeak this week alerted us to an interesting study on social media usage amongst the USA’s Inc 500 companies, an index of the fastest growing private businesses in the country.
The report, produced by the Centre for Marketing Research at the University of Massachusetts, is based on a nationwide telephone survey of all companies in the Inc 500 list and shows that, compared to the more traditional Fortune 500 companies, up-and-coming businesses embrace social media to a far greater extent. For example, while around 23% of Fortune 500 companies engage in blogging, almost 50% of Inc 500 companies indicated that they have company blogs.
Other points of interest are:
The full analysis of the findings can be found here.
In the UK, the picture is similar, although according to research by publishers Daryl Willcox, SMEs over here have not adopted social media to quite the same extent as their US counterparts. The survey found that around 35% of UK small businesses market their firms via LinkedIn, Facebook or Twitter, by posting updates to these sites on a daily basis. However, a large proportion of respondents, around 60%, believes that social media are beneficial to their companies’ bottom line.
As Tim Buckley Owen pointed out in his post on the Generation Y and their attitude towards social media, no doubt as the younger generation becomes more entrepreneurial, often as a necessity in a tough economic climate, adoption of social media platforms will increase amongst businesses.
The uptake of social media in businesses small and large has been followed by Livewire contributors for some time. Click on these links for postings providing more insight into the topic.
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