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Social Media: Inc 500 versus Fortune 500

Home › Social Media: Inc 500 versus Fortune 500

By Dick Weisinger

While Fortune 500 companies have been slow to understand and adopt social media, small companies have embraced the technology and are using it as a way for them to amplify their place in the market.

Among the Inc. 500 companies, 48 percent report that social media is “very important” to their business/marketing strategy.  91% of Inc. 500 companies have adopted at least one social media tool (blog, podcast, online video, social networking, message boards, and wikis).  36 percent of Inc. 50 companies have also thought through legal implications of the use of these tools and have put in place employee usage policies for social media.

The usage numbers for social media have continued to climb steadily for the last three years, although the increased usage of message boards, online video and wikis has slowed.  Blogging and Social Media sites like FaceBook, LinkedIn and Twitter have grown dramatically.  Twitter’s growth has been the most explosive, increasing in usage by 900% in 2009 over 2008 usage.  62 percent of executives surveyed said that they are familiar with Twitter and 52 percent of Inc. 500 companies are currently using it.

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