Archive for Inc. 500

Rose is off the bloom of social media for Inc. 500

The Bloom is Off the Rose of Social Media for Inc. 500

After a decade or more of investing in social media, the bloom is off the rose of social media for the Inc. 500. Companies are asking, “Where is the ROI?”

According to the 2017 Inc. 500 & Social Media study by U-Mass, almost all respondents pointed to building brand awareness as the most effective use of social media.

Social media ROI is a central concern among CEO’s with more than half reporting some degree of concern about resources devoted to this channel, and if the returns warrant the effort. Read More→

Inc. 500 ratchets up social media engagement

Inc. 500 Ratchets Up Social Media Engagement

Social media engagement will surpass online advertising for the first time in the latest study of the Inc. 500 companies. These leaders say they will ratchet up their engagement with consumers. They forecast that social will generate more sales this year than advertising by 38% vs. 24%.           

This is a sharp departure from 2014 when online advertising garnered 40% support while social media platforms were favored by only 14%. Read More→

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→