The Social Media Habits of the Fortune 500

The Social Media Habits of the Fortune 500 TM Summary Highlights November 2009 C. Michelle Batten Flickr Photo by th.omas, February 12, 2009

Social media is now part of daily life Social media is now part of everyone’s daily life

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

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

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

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

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

How are Fortune 500 companies engaging with this social audience?

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

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

The average Fortune 500 is present in just over a quarter of key social media channels

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

Employee networking and product usage / sales orientations dominate Fortune 500 social activities

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

Over a third of Fortune 500 key social media channels have been inactive for over 6 months

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

Nearly two-thirds of Fortune 500 brands have social media channels with low engagement levels

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

Facebook Fan Pages drive 77% of the Fortune 500’s social audience

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

The average Fortune 500’s share of brand voice levels are low

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

Facebook Groups are the largest source of negative branding for nearly all Fortune 500 brands

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

Only 18% of Fortune 500 brands are integrating their social media channels

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

Most Fortune 500 brands are not tapping into the full potential of an Integrated Social Web

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

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

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

Learn more about your social media habits Flickr Photo by PinkSherbert_Photography, August 19, 2007 C. Michelle Batten, Lead Marketing Strategist [email_address] @iMediaMichelle

http://www.iMediaWorksConnect.com

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The Social Media Habits of the Fortune 500

by Michelle Batten

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