How Small, Fast-Moving Companies Use Social Media




  • May 5, 2015

    inc500 social


    We all know that most companies are using social media now. However, exactly how they’re using it is not general knowledge. Someone who knows these insider insights is Dr. Nora Ganim-Barnes of the University of Dartmouth. She’s been studying this for five years now and she shared the 2014 stats for Inc. 500 social media use in an SNCR webinar today.


    The study was done in two parts: First an observational study of the websites and social media accounts of the Inc. 500 and then random interviews with executive at companies on the list to get more in-depth data. What kind of companies are on the Inc. 500 list? They’re new, fast-moving small companies. Almost half (46 percent) are in the $ 3 – $ 10 million annual revenue range.


    Favorite Social Media Platforms


    Inc 500 SOCIAL MEDIA USE 2015


    As you can see, LinkedIn is far and away their favorite social platform. In the last three years the usage has jumped form 80 to 94 percent. So if you want to connect with the Inc 500, LinkedIn is the place to go.


    Facebook is nest at 80 percent, although that’s down slightly from 2013. Twitter on the other hand, interest in Twitter is growing and it is just one percentage point behind Facebook now.


    Blogging has lost a little ground, but Dr Ganim-Barnes pointed out that blogging is still the best vehicle for though leadership and it’s one of the only social properties owned by the brand.


    Small Businesses Succeeding On Social Media


    Inc 500 facebook likes


    Inc 500 slide twitter


    GoPro, Refinery 29, and Tough Mudder are in the top five on Facebook and Twitter. That’s impressive. Take a look at what they’re doing and see if you can learn from them.


    On the GoPro Facebook page they have over 8 million fans and the most important stat – 144,000 poeple talkng about theri content. that’s almost 150,000 engaged fans in the last week.


    Go Pro PTAT


    gopro fb


    Their Twitter feed is full of awesome content captured by their product.


    GoPro twitter


    The Social Media Downside


    The not-so-good part of the study is that two-thirds of the Inc 500 are doing social “by the seat of their pants.” Only 34 percent of the Inc. 500 have a strategy in place. Thirty-two percent are tracking results and sales that come via social media. So while there are some social media stars in the Inc 500 the majority of smaller companies are doing it because they know they should – but they’re really flying blind.


    If your company does not yet have a strategy in place download this social media strategy template.

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