Archive for Fortune 500

Social Media Measurement and ROI Next Focus of Inc. 500, Fortune 500

For the past five years the UMass Dartmouth Center for Marketing Research has surveyed the Inc. 500 and Fortune 500 companies on their use of social media. Last week, we reported the results of the 5th Annual Benchmarking Study of the Fortune 500. Previously, we wrote about the Center’s 2012 Inc. 500 Social Media Update. We invited the co-author of the studies, Dr. Nora Barnes, to expand on her findings in both studies, comparing social media usage of the two groups and her predictions for the future. Here are her responses to our questions.

Based on five years of data, any predictions on where companies will be on social media in the next 5 – 10 years?

UMass studies Inc. 500 and Fortune 500 usage of social media

Nora Barnes, Ph.D.

Our studies indicate that attention will move from a focus on tools to focus on measuring, monitoring and a discussion regarding the ROI of their social media efforts.

Companies will move from repositioning or retraining employees to handle the social media function to hiring social media professionals.

Social media plans will be as common as marketing plans for a company and budgets (including investments in software or consulting and hiring) will be clearly defined. Read More→

Fortune 500 Increased Use of Social Media in 2012 — Twitter #1

Fortune 500 companies have increased their use of social media in 2012 to reach key constituents, according to the 5th Annual Benchmarking Study conducted by the University of Massachusetts, the Center for Marketing Research.

Twitter Tops

Twitter is the tool of choice with 73% having corporate TTwitter top choice of Fortune 500witter accounts and at least one company from every one of the 71 industries on the list tweeting, according to the statistically valid study.

That was a bit of a surprise, as many brand name consumer companies are successfully leveraging facebook to sell their brands, their product/services and to build interactive communities.

YouTube is also closing in on facebook users (62% vs. 66%) among the the 2012 Fortune 500. The new social network on the block, Pinterest, has attracted only 2%, or 11 companies, as members.

As a blogger, I was pleased to learn that blogging is more popular than ever. The most successful companies understand that a blog is an essential component of their social media strategy.

For the first time this year, the study included specialty blogs that corporations have created to recruit new employees, to promote a particular topic or for fundraising.

“In addition, it is worth noting that there is evidence of usage of social media tools such as blogs inside these corporations,” says the study. (See a previous post Engaging Employees on Social Media).

Key Findings

Key findings reported by UMass are: Read More→