Social Media Usage Increases Among Fortune 500

The Center for Marketing Research at the University of Massachusetts Dartmouth has released its annual report on social media usage by Fortune 500 companies.

It shows a surge forward in the adoption and use of social media and new communications tools among this year’s Fortune 500.

Of note for the insurance industry in 2012:

Some 81 percent of companies in the property and casualty insurance industry (stock) had Twitter accounts, while 69 percent had corporate Facebook pages. As for blogging, just 19 percent of these companies had corporate blogs.

Several  P/C insurers have also adopted specialty blogs—those focusing on the company career paths and hiring information, social responsibility and community causes—including State Farm Insurance Cos and Liberty Mutual Insurance Group.

Back to the broader picture:

Overall, the study notes that some 73 percent of the 2012 F500 had corporate Twitter accounts, 66 percent had a corporate Facebook page and 28 percent had corporate blogs.

Furthermore, in the past year, F500 companies have increased their adoption of blogging by 5 percent, their use of Twitter for corporate communications by 11 percent and their use of Facebook pages by 8 percent.

For the first time this year’s study recorded corporate and specialty YouTube accounts. It found some 62 percent of the 2012 F500 (309 companies) had corporate YouTube accounts and 2 percent (11 companies) are posting on Pinterest.

The study notes:

It is obvious that there has been a surge forward in the adoption and use of social media and new communications tools among this year’s Fortune 500. For years, this group has lagged behind other sectors and at times appeared to shun social media. These latest numbers show a renewed interest that includes using these tools for engagement, hiring and fundraising as well as for corporate advancement.”

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