Inc. 500 companies now seek out social media

Social media continues to transform the business world; witness the growth of company blogs, online video and podcasts as compelling marketing tools. Now, the Inc. 500, the fastest-growing private companies in the U.S. are at the forefront of the movement, according to a new study from the University of Massachusetts at Dartmouth’s Center for Marketing Research. Fully 51 percent of Inc. 500 companies are monitoring social media by reading RSS feeds, following web stats, and tracking video downloads and online conversations.

What does this mean for your company?

The most successful companies consider social media as a valued part of their culture and are paying close attention to how their competitors are using it. To be considered a fast-growing, successful company, it is important to communicate in an outbound way, but also to listen to what is going on in the market.

Our take-away advice: Consider starting a company blog, which has become a real market force by providing the ability for word of mouth to spread and be around for a long time. And don’t forget to read other company’s blogs so you can keep up with the competition.

Source: “To gain competitive edge, companies turn to blogs, videos, and social networks,” Tamara Schweitzer, Inc.com, August 10, 2007

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