Fortune 500 favors Twitter over blogging

Rich Cherecwich
  • Rich Cherecwich
Posted on February 26, 2010

Twitter was the major success story of 2009, garnering headlines, growing at an exponential rate, and winning the adoration of marketers. The Fortune 500 companies were part of that latter group and eagerly hopped aboard the bandwagon, according to a study by the Society for New Communications Research.

In fact, 35 percent of the Fortune 500 companies had active Twitter accounts last year, meaning that they posted at least once every 30 days. Out of the top 100 companies, 47 had Twitter accounts. By contrast, only 22 percent of all Fortune 500 companies have "public-facing corporate blogs," Adweek reports.

Four of the top five corporations -- Wal-Mart, Chevron, ConocoPhillips, and GE -- consistently post on their Twitter accounts, according to the study. Insurance was the industry with the largest Twitter presence, with 13 Fortune 500 insurance companies actively participating in microblogging.

The study shows that major companies are eager to embrace social media to interact with their consumers, but many Fortune 500 companies are passing up other online opportunities, such as SEO. A study earlier this month found that 53 percent of the Fortune 500 had no search visibility for terms related to their businesses.

Today's News
 

Comments

linda ziskind
linda ziskind March 3, 2010 at 7:56 AM

An interesting study, but I'm not sure I understand their criteria. Tweeting at least once in the last 30 days isn't the hallmark of an active Twitter account. And the occurance of @replies and retweets, while necessary for meaningful interaction, aren't guarantees that meaningful interaction is happening.

I looked at some of the accounts mentioned. Conoco Phillips' Twitter account is so clearly a prefunctory initiative, that I had to go to their website to make sure it was actually their account. Frankly, with that little thought or strategy invested, they'd be better off without it.

Chevron doesn't come off much better, and neither does AT&T, GM, or a host of others. The study's main criteria for identifying meaningful Twitter accounts - tweeting at least once a month and having a lot of followers - indicates a lack of understanding of how social media works. Social media may be unlike any other kind of marketing model, but there are still important criteria for developing successful implementations: i.e., developing a clear strategy, creating corporate social media guidelines, linking all social media channels, dedicating and training staff, monitoring brand mentions, etc. When executed well, social media enables a brand, through the persona of its designated Tweeting employees, to engage, make friends, and form relationships. It's a virtual meeting place where you can seek out your brand's constituency and say, "How're we doing? How can we help you?" Social media enables conversation. Conversation enables relationships. Relationships enable brand loyalty. Meaningful social media happens when companies stop talking AT their customers and start talking WITH them.