For the third year in a row the Center for Marketing Research at the University of Massachusetts Dartmouth has conducted an in-depth and statistically significant study on the usage of social media in fast-growing corporations. The study is titled, “Social Media in the 2009 Inc. 500: New Tools & New Trends.” I’m guessing agribusiness companies will follow this trend and it is a real trend since they now have good comparative data over several years. Here’s an excerpt from their report:
Social networking continues to lead the way. The technology that continues to be the most familiar to the Inc. 500 is social networking with 75% of respondents in 2009 claiming to be “very familiar with it” (compared to 57% in 2008). Another noteworthy statistic around familiarity is Twitter’s amazing “share of mind” with sixty-two percent of executives reported being familiar with the new microblogging and social networking platform.
The adoption curves for different social media technologies are not all the same.
Interestingly, while social networking and blogging have enjoyed growth in actual adoption, the use of message boards, online video, wikis and podcasting has leveled off or declined. The addition of Twitter (considered by respondents to be both a microblogging site and a social networking site) in the latest study shows that an amazing 52% of the Inc. 500 companies are already using this tool for their business.
Regardless of the particular technology, social media matters and is here to stay.
Forty-three percent of the 2009 Inc. 500 reported social media was “very important” to their business/marketing strategy. And an incredible 91% of the Inc. 500 is using at least one social media tool in 2009 (up from 77% in 2008). In addition, as they ramp up their usage, the Inc. 500 companies are also seeking to protect themselves legally, with 36% having implemented a formal policy concerning blogging by their employees.
Thanks to Podcasting News for the heads up.