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?
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→