Social Media and the Corporate Giants

This morning I was checking my daily rounds (sources of relevant marketing/sales information for young professionals). While on Forbes.com’s Marketing section, I came across a very interesting article regarding the 2011 Fortune 500 and social media. The purpose of Are Corporations Giving Up on Social Media” is to provoke thought about the adoption rate and importance of social media to large Corporations. Are these F500 corporations adopting social media channels simply because they have to?  The scholarly resource of Lisa Arthur’s article being The University of Massachusetts at Dartmouth. 

I was astonished to see such a question being raised by Forbes. As a young marketing professional, I am constantly being hammered about the importance of social media, and securing your place in these channels. There’s no way that social media can be losing its aura of popularity. “New research from the University of Massachusetts at Dartmouth shows that the use of blogs, Twitter and Facebook among the Fortune 500 actually leveled off in 2011″ (Arthur).  Apparently it might be…

The study breaks down the adoption percentages of three separate channels of social media: Blogs, Twitter, and Facebook. All of the following information taken from Lisa Arthur’s article.

Blogs: “About one-quarter (23 percent) of the 2011 F500 have corporate public-facing blogs with a post in the past 12 months.”

Twitter: “Well more than half (62 percent) of the 2011 F500 have corporate Twitter accounts with a tweet in the past thirty days –but that’s only an increase of 2 percent from last year” And all top of the Fortune 500 are tweeting.

Facebook: “Fifty-eight percent of the 2011 F500 have Facebook pages. Last year, the researchers from UMass-Dartmouth found 56 percent were on Facebook.”

It has been proven. Social media adoption has certainly plateaued among Fortune 500 companies within the past year. Increases of only 2 percent with the channels of Twitter and Facebook. So what does this mean to the new marketing professional? Not that social media has become any less important. If anything, I believe that since the F500’s are maintaining their levels of social media involvement it only solidifies the place of social media in an effective marketing mix. Now for small businesses… That is an entirely different can of worms. One where social media adoption can mean success or failure, and I will touch on that soon.

Cheers.

Source- Lisa Arthur  http://www.forbes.com/sites/lisaarthur/2011/11/01/are-corporations-giving-up-on-social-media/

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One response to Social Media and the Corporate Giants

  1. While adoption of social media may have temporarily slowed new technologies may be able to take social media to the next level. In a recent poll over 80% of the top CMO’s in the country plan on increasing their social media spending from 7 to 10% of their total budget. In a time of decreased spending corporations are looking to streamline costs and these same CMO’s state they feel unprepared for social media.
    New tools in social media seek to eliminate this feeling and provide immense amounts of quantifiable data regarding social media campaigns. Companies such as Argyle Social provide a means to track ROI for social and incorporate tools that over time will improve the ability to drive sales through SM. As these fears are minimized I believe we will find social media not only actively used, but necessary to keep up with competitors.

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