Social Media Growing as a Marketing Tool

According to a nationwide telephone survey in 2009 of the Inc. 500 list, under the direction of researchers Nora Ganim Barnes and Eric Mattson, social media has penetrated parts of the business world at a tremendous speed. It also indicates that corporate familiarity with and usage of social media within the Inc. 500 has continued to grow in the past 12 months.

Key findings from the study are that:

  • 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
  • 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 52% of the Inc. 500 companies are already using this tool for their business
  • 43% of the 2009 Inc. 500 reported social media was “very important” to their business/marketing strategy. And 91% of the Inc. 500 is using at least one social media tool in 2009 (up from 77% in 2008). In addition, 36% having implemented a formal policy concerning blogging by their employees.

Read the entire article.

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About Ivan Cevallos

Blogger, entrepreneur, strategist, and digital producer. View all posts by Ivan Cevallos

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