Archive for July, 2010
July 26th, 2010 | 
Author: The University of Massachusetts Dartmouth recently conducted one of the first statistically significant studies on the usage of social media in corporations. The study compares the adoption of social media with a list of the fastest-growing U.S. companies assembled by Inc. Magazine – a leading business magazine headquartered in New York City.
The 2009 results prove that America’s fastest growing private companies adopt social media marketing initiatives at much higher rates than other companies, and that interest in social media has grown exponentially since the first study was conducted in 2007.
In 2007, the first study of this group and their use of social media was released and revealed that the Inc. 500 was outpacing the more traditional Fortune 500 in their use of social media. For example, at that time, 8% of the Fortune 500 companies were blogging compared to 19% of the Inc. 500.
This study examines the Inc. 500 one year later in the first study on corporate use of these new technologies. Given that previous research now shows that while only 11.6% of the Fortune 500 currently having a public blog, it is astounding to see that 39% of the Inc. 500 are blogging. The addition of 3.6% more Fortune 500 companies to the list pales in comparison to the addition of 20% more of the Inc. 500 companies after the same time period.
Given this statistical significance, the research proves that social media has penetrated parts of the business world at a tremendous speed. It also indicates that corporate familiarity with and usage of social media with these Inc. 500 businesses has nearly doubled in the past 12 months.
The respondents in the study were diverse in category of business, size and location. The 209 companies who responded were asked the same detailed questions concerning their usage and measurement of social media that were asked of the Inc. 500 approximately one year earlier. Questions asked about the familiarity of respondents with six prominent social media – social networking, blogging, podcasting, online video and wikis.
Here are some pertinent facts from the study: 91 percent of companies reporting that they use at least one social media tool, compared with 77 percent of companies surveyed in 2008. While Facebook, Twitter and other social networking sites have seen significant growth in comparison to previous years, interest in some older social media tools such as message boards and podcasting has declined. Social media usage by companies on the list has grown in the past year, with 91 percent of companies reporting that they use at least one social media tool, compared with 77 percent of companies surveyed in 2008. 44 percent of companies without a company blog say they plan to start one and 36 percent intend to use some form of online video. Many entrepreneurs have already embraced these sites as part of their business strategy, with Facebook and Twitter being the most widely used among them, drawing activity from 52 percent of the respondents.
Eric Mattson, CEO of a research firm named Financial Insite and one of the head researchers in the study, believes that the high reception to social media among Inc. 500 companies is important for several reasons. ” Inc. 500 companies are focused on doing anything they can to grow faster and social media is an innovative tool that may give them an edge over their competition,” he says.
Mattson thinks it is significant that the sample group consisted entirely of private companies. “There is less implication for private companies using social media – they don’t have to worry about the stock market going up or down based on someone’s Tweet,” he explains.
Mattson concludes, “From a big picture trend standpoint, these results show how prevalent and widespread social media is becoming in every aspect of business now.”
Often in smaller organizations, there is more room for innovation because it requires less processes to adopt.? The specific ways in which the businesses surveyed use social media tools has also evolved. Now – 34 percent of companies reported that they were using social media to communicate with vendors and suppliers and 26 percent cited Twitter in particular as an important vehicle for communication with outside partners.
The study is important in many ways – the most significant being that the fastest growing private businesses in the United States are embracing social media more than ever before.
Posted in Social Media Business | 
Tags: Adoption, Business Magazine, Previous Research | 
No Comments »
Not everyone has the patience and knowledge to start their own business from scratch. There are many factors that need to be considered to ensure that you are making the right decision.
It is very popular in today’s world for people to buy businesses that have already been established and making a constant flow of money. This can be a frustrating process as you need to research each company in depth to ensure that you choose one with potential that you will be able to increase in value of the set period. Don’t think that you have to make the decision by yourself. There is help offered if you choose to accept it. These experts will be able spot the business that have potential and the ones that you should avoid. This can save you a lot of time and money in the long run but you have to remember that it will cost you initially.
You have to come up with certain requirements so that the decision will be a lot easier, as you may want to buy a local company which will reduce the choices down further. For example if you are searching for a Queensland business for sale then you will only have to research the companies that are based in Queensland. There are the advantages as well as disadvantages of buying a Queensland business, the main disadvantage will be the fact that you are limiting your audience. If you have a local shop it is only beneficial to people in that area so you need to make it stand out from your competition to get them returning to you each time they require your service. There is a way to help eliminate this factor, by opening up an online shop it will allow people locally and people that live a fair distance to browse your shop or service and make a decision if they want anything.
Setting up an internet site for your company can be done fairly easily, if you know how to do it yourself you can implement your skills to get a site up and running. If you have no idea on this topic you can always get professional help who will be able to meet your requirements for a reasonable price.
As mentioned before about limiting your audience, this is not necessarily a bad thing. If you have a much smaller target audience it means that you can concentrate on them and make the service perfect for them. For example if you had a clothes shop specifically for women you will want to only stock women’s clothes which will allow you to get more styles and variations giving them more choices.
You are advised to come up with your plan of action before you make any payments so that you are fully aware of what you are going to do and when to do it. This will make it much easier for you and ensure that you get the maximum potential from your new business. If you can not afford the professional assistance, then just ensure that you research everything about the company before you make a final decision. Don’t be afraid to ask for proof of what they are claiming in order to settle your mind and be confident in the company you are investing money into. If you have any doubts you are often best trusting your gut feeling and backing off as it could end up being a very costly task. If you are lucky enough you will be able to ask around for advice and help to guarantee that you are making the right decision.
What steps must you take to start your business internet money online opportunity to make money online for a purpose filled life? I could think of hundreds but will discuss 5 very basic and initial steps you must take in order to begin. If you are new to this process you need to begin somewhere. If you have been around for several months, then pass these basic steps on to a friend who wants to learn.
Here are 5 steps you must do to get started.
(1) Take a computer course.
Even before you own a computer, you really need to understand what it is. A computer course will explain the terms operating system (OS) and how to navigate the internet, often referred to as the world wide web (www). Computers have been around a long time but the past 40 years they have evolved from mainframes through minis to micros and even cell phones are computers to access the internet. It is worth your time to take a basic course on computers and you will learn a lot about what they do and how they work.
(2) Buy a computer.
If you don’t have a computer, then you need to pick up a book and read about them to learn what they do and how they do it and what you need to buy one that works for you. A book on computers is a good start. Once you have read this book you will then know what a mouse is, a keyboard, random access memory (RAM), hard disk space and many more acronyms or terms that are part of the computer language. Before you buy a computer, go to the library or a friend who has one and learn all about that computer. When you are ready to buy a computer don’t spend a lot of money.
(3) Get an Internet Service Provider or ISP.
Once you’ve taken a course and have a computer, you need to get an internet service provider or ISP. The ISP will be your link from your computer, through your telephone line or cable box or device to connect it to the internet. Remember that your telephone line is much slower and also less expensive than using your cable service provider or even a DSL (digital subscriber line) provider. Both these are more expensive but will provide the state-of-the-art speeds.
(4) Learn about the internet and specifically affiliate marketing.
Learning about the internet is such a generic statement that I added specifically affiliate marketing. Learning about the internet is about like saying, learn about the encyclopedia Britannica. There are so many areas of knowledge on the internet; you need to focus on affiliate marketing. Do a Google search on affiliate marketing and start from there. You will get a lot of information and still have to choose what area of affiliate marketing. I recommend article marketing as a start.
(5) Work on your computer daily.
This is the most important of the 5 steps. If you aren’t ready to buy a computer, go to the public library and use theirs for free. The key is to do it every day so you aren’t intimidated by the movement of the mouse or typing on the keyboard. Once you get into a comfort zone you will find yourself falling in love with it and your ability to use it will rapidly move forward.
Posted in Home Business |
Tags: Cable Box, How To Navigate The Internet, Internet Money |
No Comments »