The University of Massachusetts released its annual survey of social media usage at Fortune 500 companies. The report revealed that in the past year, these business giants have increased their adoption of blogging by 5%, their use of Twitter for corporate communications by 11%, and their use of Facebook pages by 8%. Sixty-two percent of the 2012 F500 have corporate YouTube accounts, and 2% (11 companies) are posting on Pinterest. Sixty-six percent of the F500 are now on Facebook. Seventy-three percent of the F500 have active corporate Twitter accounts.
However, what caught my attention was another recent survey that the University was also promoting on the same web page. This survey examined how universities use social media to attract students to their MBA programs. The study showed the same sort of increases that the F500 survey revealed. However, the headliner take-away from this research was “The Missing Link in Social Media Use Among Top MBA Programs: Tracking Prospects.” The report concluded that “the missing link appears to be tracking those who first become interested in the program through one of the program’s social media sites. Being able to measure whether these prospects actually apply to the program is something schools may be looking to do, but have not yet mastered. Without this piece of information it is difficult to really assess the effectiveness of the social media plan and to know where future investments should be made.”
As I talk to companies in large and small companies about their lead-to-revenue processes, the most frequent topic over the past six months has been about leveraging social media in demand management programs. I’ve compiled a list of the most common questions and my perspective:
As we turn to September it's time to think about your plan to meet the CEOs goals in 2013.
You and your executive management have probably already articulated that your growth strategy is predicated on "deepening relationships in existing accounts while expanding in new markets." The math looks compelling — if your typical salesperson could just sell 10% more of the portfolio to their current accounts, organic growth would be off the charts. Unfortunately, your situation is just like every other B2B business with a broad portfolio of capabilities and a blue-chip roster of clients — cross-selling is a lot harder to execute than most CEOs think.