A recent study by The University of Massachusetts Dartmouth Center for Marketing Research reveals that of the fastest growing fortune 500 companies, 77% reported using social media in their business.
According to the study’s authors, “26% of respondents in 2007 felt that social media is “very important” to their business and marketing strategy. That figure rose to 44% in approximately one year. It is clear that this group of fast-growing companies considers the use of social media as a central part of its strategic plan.”
Social networking is the most familiar of the technologies. In 2007, wikis were the least familiar but they have since leapfrogged over podcasting.
It’s notable that the study’s authors found much more extensive use and growth in use in the fastest growing 500 US companies than they found in the Fortune 500, the largest companies. It would be a logical fallacy to argue that the fastest growing companies are growing fastest because of their use of social media, but it could be a factor. It could also be the case that insurgent companies have a greater incentive and proclivity to experiment than incumbent industry leaders.
via ReadWriteWeb
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