Today Paul Gillin and I talk to Nora Ganim Barnes, Chancellor Professor of Marketing and Director of the Center for Marketing Research at the University of Massachusetts Dartmouth, about her latest survey of corporate social media usage. Barnes has been surveying two distinct populations for the past 12 years – the INC 500 and the Fortune 500 – to ascertain what social media platforms they use, how they use them and how they measure results. Her students visit the websites of all 1,000 companies measured and augment the research with telephone interviews.
For the first time in nine years, more F500 are using blogs than the INC 500, and the increase has been substantial in just the past three years (see chart below), jumping from 21% in 2015 to 53% in the most recent survey. Clearly, the largest companies have reclaimed blogging and are using their blogs to tell stories and better craft their marketing messages.
Barnes found that Twitter occupies an odd place in the social media pantheon: it is well used (with 369 out of 500 companies running active accounts), but not considered very effective. Still, companies don’t abandon Twitter, perhaps out of fear of missing out or the possibility that they might need it at some point.
What has also changed is that 56% of INC 500 execs are now doing a better job of listening on social media, tracking online conversations about their brands and products with various monitoring tools. That is a big increase from last year, when it was about half that number.
This year Barnes’ research found a big concern about privacy, which is probably not surprising given the numerous breaches and missteps by Facebook and others in this area. Privacy was executives’ second biggest concern behind social ROI.
Finally, her survey saw double the firms who have formulated a social media plan from last year. Although the overall percentage is still less than a quarter of the total, that’s progress.
You can download the UMass surveys at the link above, both the current ones and in year’s past. They are a rich resource that all corporate marketing departments should carefully examine.
You can listen to our 21 min. podcast here: