Social Media is the 500 lb gorilla in the room that nobody knows what to do with. Ignore it, feed it, befriend it, fear it, or understand it. Ultimately they will embrace it and accept it, and not worry about the ROI. Business is about connecting with people and people drive business and referrals. – Web Success Team
Source: Inc. 500
Inc. 500 CEOs Use Social Media for Business
By Tamara Schweitzer
A new study shows that the use of social media is particularly prevalent among Inc. 500 companies and provides new insight on the role social media plays in running a business.
For the third consecutive year, the Center for Marketing Research at the University of Massachusetts Dartmouth, has conducted a study on social media usage among Inc. 500 companies. The 2009 results confirm the upward trend of social media adoption rates among some of the fastest growing private companies, and provide a useful comparison of social media trends from 2007 on.
This year’s study, which was conducted by researchers Nora Ganim Barnes and Eric Mattson, included 148 of the 2009 Inc. 500 companies. As with the past two years, respondents were asked about their usage and familiarity with six types of social media tools, including blogging, podcasting, online video, social networking, message boards, and wikis. In the past year, social media usage by the Inc. 500 has grown, with 91 percent of companies reporting that they use at least one social media tool, compared to 77 percent in the 2008 survey. And, of the six social media categories, the one that continues to be the most familiar to Inc. 500 companies is social networking, with 75 percent saying that they are “very familiar with it.” Read more