How do Fortune 500 companies rate Social Media?

With consumers spending increasingly more time daily with their social media accounts than their e-mail accounts or any other platform of modern mass media, it has become extremely important for companies and corporations to build and maintain a positive social media presence and influence.

A recent survey by the University of Massachusetts Dartmouth shows that the global big shots of the economy, the Fortune 500 companies are constantly increasing their social media presence over the recent years signalling that marketing through social media is here to stay. While Facebook, Twitter and YouTube still remain the most popular outlets for marketing through social media for the Fortune 500, numbers show that other outlets like Google+, Pinterest and Instagram are also on a roll as far as presence of companies are concerned since last year.

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 Source: University of Massachusetts Dartmouth

This spurt in the growth of social media, poses another question – Does this mark the death of traditional marketing through advertising, public relations, branding and corporate communications, as we know it?

Many experts concur that-people still involved in traditional marketing roles are stuck in a dead paradigm though they themselves may not realize it. And when you think about it really does not make sense: an organization hiring  people — employees, agencies, consultants, partners — who don’t come from the buyer’s world and whose interests aren’t necessarily the same as the buyer’s on the expectation or with the job of convincing the consumer to spend his hard earned money? .

But is marketing through social media really a permanent answer to this broken model of traditional marketing? Even Facebook a corporation which finds itself in both the Fortune 500 list as well as being one of the main outlets for marketing for companies through social media, is mired in a debate within itself “Is marketing through Facebook effective or effective enough?”. In this argument the answer can only be that factor which ultimately makes products move for the corporates and is accountable, or simply put in a modern corporate context, everything must ultimately justify the value they bring to their stakeholders and in particular shareholders. The answer to this question will only be told by time but for the present, marketing through social media is definitely on a high. And companies are expected to further ramp up their social media expenditure.

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