You can find the report at the BOTTOM of this page, but what’s important is to see how fast America’s private high-growth companies are adopting the use of social media to grow their business, advance their brand, and connect with their customers. I value this report a great deal because the Inc 500 is a diverse cross-section of Amercian businesses, including family-owned, personally financed, VC-backed, etc.
The bottom line is that every entrepreneur and business owner, whether they are running a 35 year old business or just getting started, can and will benefit if they develop, execute and work at using social media effectively.
Here are some interesting statistics from the report:
- Over half the Inc 500 executives surveyed are using Twitter in a business context
- Almost 50% of Inc 500 companies maintain a company blog, as opposed to only 16% at Fortune 500 companies. Great to see so much innovation and adoption starting in the middle and lower middle market of American enterprise!
- Only 4% of respondents this year, as opposed to 13% in 2007, believe that social media technologies are ‘very unimportant’ for their businesses; nearly 80% believe social media technology is either ‘very important’ or ‘somewhat important’ to their business.
It’s a very interesting report, and it’s definitely worth reading if you are a marketing executive at a private company or an owner of a small company looking to grow without committing to a large traditional marketing budget (print ads, TV, newspaper, etc).
If you’d like to get started using social media, do the following:
- Commit to a blog on your company website; before you get going though, lay out a good blog strategy.
- Reserve a Twitter account; decide UP FRONT if you’re going to have it be a Twitter account for your business, or a personal account
- Get on LinkedIn and set up a profile for yourself; if you’ve already done that, be sure to set up a profile of your company.
Committing to it and getting good at it are 2 different things. Commit first, and then work at it over time and learn from all the others on the web to take yourself from amateur to expert.