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The Social Media Habits of the Fortune 500
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An independent study on the Social Media Habits of the Fortune 500 brands conducted by C. Michelle Batten of iMediaWorks. My research examines eight social media habit dimensions, within eight key ...

An independent study on the Social Media Habits of the Fortune 500 brands conducted by C. Michelle Batten of iMediaWorks. My research examines eight social media habit dimensions, within eight key social media channels, across sixteen industry segments.

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The Social Media Habits of the Fortune 500 Presentation Transcript

  • 1. The Social Media Habits of the Fortune 500 TM Summary Highlights November 2009 C. Michelle Batten Flickr Photo by th.omas, February 12, 2009
  • 2. Social media is now part of daily life Social media is now part of everyone’s daily life
  • 3. Key social media channels now attract a substantial and growing global audience Consumers have instant access to information and are more connected than ever 17M+ uniques 2,681% growth 300M+ uniques 97% growth 8M+ uniques 320% growth 346M+ uniques 100M+ uniques 45% growth 100M+ uniques 32% growth 147M+ uniques 91% growth Source: ComScore Metrics 2008, 2009; Note MySpace, YouTube and LinkedIn data are U.S. only
  • 4. Social media is no longer just for the young A maturing audience of decision-makers and opinion leaders:
    • Age 34+
    • College-educated
    • Professional and Managerial
    • Log in 2-3 times per week
    • Stay in touch with peers / colleagues
    • Find trusted information quickly
    • Solve problems / get help
    Flickr Photos by InDollars, January 1, 2009 and PayABluishOak February 11, 2009 Source: Generations – Pew Internet Life Project, 2009
  • 5. Search is now social and real-time Socially generated content is changing the rankings of organic search results Socially targeted searches enable consumers to quickly navigate the most current content from trusted sources
  • 6. Socially generated content is helping to shape consumer purchase decisions 50% of surveyed consumers rely on online reviews in the first stage of their buying cycle; 66% do so at point of purchase 21% of surveyed blog readers say blogs help them decide on a product or service Sources: Opinion Research Group, April 15, 2009 and BuzzLogic Study, March 2009
  • 7. Flickr Photo by phogel, January 10, 2009 Source: “The Social Media Habits of the Fortune 500” Study, iMediaWorks, 2Q,2009 Over 6 million people are engaging Fortune 500 brands through these key social media channels
  • 8. How are Fortune 500 companies engaging with this social audience?
  • 9. iMediaWorks reviewed the Social Media Habits of Fortune 500 parent company brands KEY SOCIAL MEDIA CHANNELS
    • Brand Presence
    • Usage Orientation
    • Connection Frequency
    • Engagement Activity
    • Audience Share
    • Brand Share of Voice
    • Negative Brand Presence
    • Integration Depth
    ANALYSIS DIMENSIONS INDUSTRY SEGMENTS
    • Aerospace
    • Automotive
    • Computers / Electronics
    • Construction / Real Estate
    • CPG / Grocery
    • Energy / Utility
    • Financial
    • Healthcare / Pharma
    • Insurance
    • Manufacturing
    • Publishing / Entertainment
    • Retail / Apparel
    • Services
    • Telecommunications
    • Transportation
    • Travel & Hospitality
  • 10. Why do good social media habits matter? DIRECT SALES
    • Creating new direct distribution opportunities across the social web
    • Creating new consumer-sourced product / service offerings
    • Extend current product / service offerings through new consumer networks
    COST SAVINGS
    • Streamline call center volumes to handle most complex cases
    • Optimize customer care personnel throughout the service experience
    • Leverage the wisdom of the crowd to inform customer service, supply chain and research & development
    REVENUE GENERATION
    • Enable adaptive pricing to meet socially-driven product and service demand
    • Creating value-driven ancillary products and services demand
    CUSTOMER SATISFACTION
    • Become more proactive and collaborative with customers in servicing their needs and desires
    • Gain a more holistic understanding of customer behaviors
    • Create stickier customer loyalty
  • 11. The average Fortune 500 is present in just over a quarter of key social media channels
  • 12. Nearly all industry segments participate in every channel with the exception of MySpace and virtual worlds U.S. Travel Suppliers primary presence exists within LinkedIn (38%) followed by Facebook (25%) and Twitter (14%) Source: “The Social Media Habits of the Fortune 500” Study, iMediaWorks, 2Q,2009
  • 13. Employee networking and product usage / sales orientations dominate Fortune 500 social activities
  • 14. Publishers lead the product usage / sales orientation followed by Retail and Telecommunications industry segments Fortune 500 brands primarily use YouTube, iPhone applications and Podcasts to drive product usage and sales Source: “The Social Media Habits of the Fortune 500” Study, iMediaWorks, 2Q,2009
  • 15. Over a third of Fortune 500 key social media channels have been inactive for over 6 months
  • 16. Some of the most inactive social channels include MySpace (71%), Podcasts (75%) and Facebook Fan Pages (44%) The most recent Fortune 500 social media channel adoption occurred within iPhone (75%) followed by Facebook Fan Pages (72%) Source: “The Social Media Habits of the Fortune 500” Study, iMediaWorks, 2Q,2009
  • 17. Nearly two-thirds of Fortune 500 brands have social media channels with low engagement levels
  • 18. YouTube and Facebook Fan Pages are the most lacking in social conversation levels Automotive, Telco and Computer segments have the highest engagement levels amongst Fortune 500 brands Source: “The Social Media Habits of the Fortune 500” Study, iMediaWorks, 2Q,2009
  • 19. Facebook Fan Pages drive 77% of the Fortune 500’s social audience
  • 20. Computers, CPGs and Telcos attract the highest social audience share levels within their key channels Facebook Fan Pages are the largest source of Fortune 500 social audience; 7.5% of them exceed 100K to 1 million fans each Source: “The Social Media Habits of the Fortune 500” Study, iMediaWorks, 2Q,2009
  • 21. The average Fortune 500’s share of brand voice levels are low
  • 22. Blogs are the largest primary source of brand name mentions for Telcos, Energy and Financial industry segments Photos and Blogs are the primary channel sources of brand name social mentions for 59% of the Fortune 500 Source: “The Social Media Habits of the Fortune 500” Study, iMediaWorks, 2Q,2009; Vitrue SMI Database
  • 23. Facebook Groups are the largest source of negative branding for nearly all Fortune 500 brands
  • 24. Negative “anti-branding” by third parties is most prevalent within Facebook and YouTube Publishing, Financial and Retail industry segments attract the most negatively branded presence within Facebook Source: “The Social Media Habits of the Fortune 500” Study, iMediaWorks, 2Q,2009
  • 25. Only 18% of Fortune 500 brands are integrating their social media channels
  • 26. Publishing and Computer segments are cross-integrating their social footprint better than their industry peers When Fortune 500 brands feature social media on their Home Page, it is most likely their Blog; YouTube is least likely to be featured Source: “The Social Media Habits of the Fortune 500” Study, iMediaWorks, 2Q,2009
  • 27. Most Fortune 500 brands are not tapping into the full potential of an Integrated Social Web
  • 28. Brands must prepare for the new rules of the Social Web
    • Consumer incentives/motives for purchase behaviors and decisions are highly contextual
    • Consumers are requiring personal economies of value in order to conduct business with brands
    • Transparency and openness dictate the message through verifiable trust agents
    • Consumers expect their relationships and identity to be portable across the social landscape
  • 29. SOCIAL needs to be fully integrated within all of your consumer programs customer service event retail & merch out of home public relations partnerships direct SOCIAL Use social to unite and amplify your communications with customers tv/radio
  • 30. Fortune 500 social media habits are headed in the right direction, but must improve
    • Engaging customers proactively through Facebook and Twitter
    • Monitoring and responding directly to comments, questions and requests from customers
    • Featuring active social media channels on Company Home Pages and within About sections of the website
    • Showing the human side through biography and other social content
    • Reach out to customers within negatively-branded communities
    • Increase cross-integration of social media channels online and offline
    • Step up daily dialogue with customers and prospects via status updates, that are not solely promotional in nature
    • Provide links to useful category content, not just your own
    GOOD HABITS TO MAINTAIN NEW HABITS TO DEVELOP
  • 31. Learn more about your social media habits Flickr Photo by PinkSherbert_Photography, August 19, 2007 C. Michelle Batten, Lead Marketing Strategist [email_address] @iMediaMichelle
  • 32. http://www.iMediaWorksConnect.com