Thursday, April 23, 2009

Businesses are blogging

A report conducted by Nora Ganim Barnes, Ph.D., and Eric Mattson CEO, Financial Insite indicates a steady rise in Fortune 500 company's use of blogging.

"Each year Fortune Magazine compiles a list of America’s largest corporations. The list includes publicly and privately held companies for which revenues are publicly available. The Fortune 500 is a definitive list of the country's largest (by revenue) and most influential companies...

This study examined the 2008 Fortune 500 list in an attempt to quantify the adoption of social media by identifying those with public-facing blogs."

Social media = microblogging, multimedia blogging, podcasting and videoblogging, and participation in social networks like Facebook. Above image from the Neilsen Media blog.

"As social media becomes more integral to the business function, we should see evidence of it in the use of blogs, podcasts, Twitter or other tools. Given that the Fortune 500 stand as a model for business success, it is interesting to examine their involvement in the social media arena.

Eighty-one (16%) of the primary corporations listed on the 2008 Fortune 500 have a public-facing corporate blog with a post in the past 12 months. These early adopters include three of the top five corporations (Wal-Mart, Chevron and General Motors). The two remaining in the top 5, Exxon/Mobil and Conoco Philips do not have public-facing blogs at this time.

This study systematically examines the entire 2008 Fortune 500 list. Based on available information to date, the result is a higher percentage of Fortune 500 bloggers than suspected."

The Fortune 500 get it, follow along small and individual businesses. Social media is an effective way to distribute awareness about your business, service of product. It's also a way to gather customers.