UMass just published their latest study on social media usage within Fortune 500 companies which shows a notable increase in the application and engagement of blogs and a rise in the use of social platforms such as Instagram, Google+ and Foursquare and Pinterest.
Setting the Scene
The University of Massachusetts has been publishing an annual report since 2008 on the utilization of social media within the Fortune 500 as listed by Fortune Magazine. Every year the F500 are examined to determine their various levels of engagement within the most common social platforms and their integration and relative upkeep of social tools within their own sites; specifically their blogs.
Some of the More Interesting Findings from this 2013 Study
This study is, to UMASS’s credit, comprehensive and should really be read in detail to get the most out of it. That said I know not everyone has the time so we put together some of the findings we found most interesting and we hope you do as well. Please remember, however, that very little of these results can stand upon their own as evidence of a specific fact because correlation is not necessarily causation. With that said I find the data very interesting as a rare peek into a world I am very detached from as a small-to-medium business website marketer.
A) From 2008 to 2013 there has been a 188% (16% in 2008 to 34% in 2013) increase in the use of public facing corporate blogs.
B) Interestingly the top 200 companies out-blogged those of the bottom 200 in every year since 2008. This same trend was found in the adoption of Twitter and Facebook accounts.
C) Below I created an accounting of all the platforms studied and their relative increases over 2012 where available:
The Fortune 500 social media study gives a far more detailed conclusion but the gist is even the Fortune 500 are getting more and more involved in social media and data suggests the most successful (top of list) companies are using it more often. Does this mean social media has been a boon to their bottom line? There is no evidence of that but I certainly hope so. Either way it is apparent these behemoths know they need to be present to manage their reputations and find the social world worth investing in. How about you?
Here are some other resources related to this topic:
- Learning Social Media Tricks from the Big Boys
- Duke Study: Spending on Social Media will Surge
- Social Media Use in Organizations (links to PDF)
- Big Business Pouring Money into Social Tools