Is There a Correlation Between Social Media and Financial Success?
A study published by enterprise wiki provider Wetpaint and the Altimeter Group indicates that the more a brand engages with its consumers via social media, the likelier that relationship is to pay off with higher financial success. The study evaluated 100 companies from the 2008 BusinessWeek/Interbrand Best Global Brands survey and their social media activity on Facebook, Twitter, blogs, etc. The brands were then ranked on an “engagement scale” ranging from a high of 127 to a low of 1. Those brands scoring highest on engagement experienced 18% revenue growth in the past year, while the least engaged experienced revenue declines of -6%.