FORTUNE 500 COMPANIES EMBRACE SOCIAL MEDIA
According to a new study by UMass Dartmouth, Fortune 500 companies are bullish for Social media.
Fortune Magazine annually compiles a list of America’s largest corporations, aptly named the “Fortune 500” (F500) given their size and wealth. Due to the hugely influential role that these companies play in the business world, studying their adoption and use of social media tools offers important insights into the future of commerce. These corporations provide a look at emergent social media trends among America’s most successful companies.
The exact numbers are eye opening and reveal an emerging market where social media is not just a convenience, it is a business necessity. Many of these giants of success consider these social media efforts key to their continued success. Here is a list of the impressive facts this important study revealed.
- 47% of all F500 blogs coming from the top 200 corporations and 36% coming from those ranked 300-500 on the list.
- Three hundred eighty-seven (77%) of the F500 have corporate Twitter accounts with a tweet in the past thirty days. This represents a 4% increase since last year.
- Eight of the top 10 companies (WalMart, Exxon, Chevron, Phillips 66, Apple, General Motors, General Electric and Ford Motors) consistently post on their Twitter accounts.
- Three hundred forty-eight (70%) of the F500 are now on Facebook.
- Three hundred and forty-five (69%) corporate YouTube accounts were found in the 2013 F500. This is a 7% increase from last year.
- Pinterest has grown in membership since its public debut in 2010 and is showing up in the F500. In 2012, 11 (2%) F500 companies had Pinterest accounts. This year that number has grown to 45 companies or 9%. Half of the top 10 ranked companies have Pinterest boards.
- One hundred and seventy-seven (35%) of the 2013 Fortune 500 have active Google+ accounts.
- Forty-four (9%) of the 2013 F500 have a corporate Instagram Account.
- Forty-four (9%) of the 2013 F500 have corporate Foursquare accounts for use on mobile devices.
Three key facts emerge in this new study.
- The established social media venues are becoming key to the business plan of every successful Fortune 500 company.
- The top listed Fortune 500 companies are also social media industry leaders. Bottom listed Fortune 500 companies tend to not use social media. Clearly social media can give competitors the ability to step over their competition.
- As the global community of consumers become more comfortable with the social media environment, various different new options are emerging. Those with the foresight to gain a foot hold in these emerging platforms early maintain a long term advantage.
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