LinkedIn Use Rising Among Fast-Growing Companies
Fast-growing companies are still leading the way when it comes to social media usage, but LinkedIn is finding more favor than Facebook, a report finds.Social networking site LinkedIn is the platform the 2012 Inc. 500—a list of the fastest-growing private U.S. companies compiled annually by Inc. magazine—use most, according to a report from the Center for Marketing Research at the University of Massachusetts Dartmouth. In fact, 81 percent of the companies on the list employ it, the study shows. LinkedIn replaced Facebook as the social media tool of choice for these fast-growing companies, according to the report. The use of Facebook has dropped 7 percent in the past year while both LinkedIn and Twitter have gained users, according to the report. In 2011, 74 percent of the Inc. 500 used Facebook and 64 percent Twitter. In 2012, 67 percent of the Inc. 500 employed each of them. More than a quarter (28 percent) now use Foursquare and 18 percent use Pinterest, the report said. However, the businesses surveyed indicated investing in social media would slow, with less than half (44 percent) now looking to spend more on social media, compared with 71 percent that said they were planning to increase social media investments in 2011. In the latest study, 41 percent (versus 25 percent in 2011) said their current level of investment would remain the same as the previous year, and an additional 15 percent were unsure how their social media investment might change.
While fewer companies are considering investments in social media, blogging—a more mature communications tool—seems to be enjoying a resurgence. The use of blogging among Inc. 500 companies jumped to 44 percent in 2012 from 37 percent in 2011. In addition, the report found 63 percent of CEOs are contributing to blog content.