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Altimeter Group/Wetpaint Study Suggests Social Media Engagement May Yield Financial Benefits
PrintAccording to a study published in mid-2009 by Wetpaint and the Altimeter Group, deeply engaging in social media (i.e., communicating with stakeholders via three or more channels) can yield financial rewards.
The research partners were careful to note that they did not find a cause and effect relationship between social media engagement and financial success. Instead, they found a strong coorelation between companies using several social media channels (including Twitter, Facebook, LinkedIn, Youtube) and financial performance. According to the report "companies that are both deeply and widely engaged in social media surpass their peers in terms of revenue and profit performance by a significant difference."
ENGAGEMENTdb: Most Engaged Brands On Social Media -
- Report Reveals:15 Best Practices of Social Media Implemented by the Top 100 Brands, Jeffbullas’s Blog, July 21, 2009, http://jeffbullas.com/2009/07/21/report-reveals15-best-practices-of-soci...
- New Study Indicates Social Media Pays; Wetpaint and Altimeter Group Find Correlation Between Brands' Social Media Efforts and Financial Performance, Wetpaint/Altimeter Group Press Release, July 20, 2009, news.prnewswire.com/ViewContent.aspx
- Does Social Media Really Correlate with the Bottom Line? Color Me Skeptical, ZDNet, July 21, 2009, blogs.zdnet.com/BTL/
- Social Media Engagement Directly Linked to Financial Success, MarketingCharts, July 21, 2009, www.marketingcharts.com/interactive/social-media-engagement-directly-linked-to-financial-success-9858/
- Study: The Biggest Brands on the Web, CNET, July 20, 2009, news.cnet.com/8301-1023_3-10290855-93.html
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