Date: November 20, 2009
Department: Charlton College Of Business
The new study compares adoption of social media over three years (2007, 2008 and 2009) by the Inc. 500, a list of the fastest-growing private U.S. companies compiled annually by Inc. Magazine. For details about the 2009 Inc. 500 and the complete directory of the included companies, please visit Inc. Magazine's website at www.Inc.com.
In 2007, the Center's first study of this group and their use of social media was released and revealed that the Inc. 500 was outpacing the more traditional and larger Fortune 500 companies in their use of social media. For example, at that time, some research showed that 8% of the Fortune 500 companies were blogging compared to 19% of the Inc. 500. This difference continued in 2008 with 16% of the Fortune 500 blogging vs. 39% of the Inc. 500. And it appears the Inc. 500's lead in blogging will continue in 2009 with the Inc. 500 now blogging at a rate of 45%. (The update on the Fortune 500 is expected soon.)
As in the earlier studies, the 2009 study is the result of a nationwide telephone survey of those companies named by Inc. Magazine to the Inc. 500 list under the direction of researchers Nora Ganim Barnes and Eric Mattson. All interviews took place in October and November of 2009. The 2009 list was released in the September issue of Inc. Magazine. In this third iteration, thirty percent (148) of the Inc. 500 participated, making this research statistically valid at +/- 7%.
This research proves once again that 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.
Research Document found at: