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Media Musings Blog Archive Social media use I feel like its impossible these days to spend a day without some form of modern technology swamping you with it noises, images, colours and hashtags.

Social media: not exactly a new thing to me, and judging from the amount of users worldwide I think the public knows whats going on as well. So I was a little surprised last week to read that Web Profits had conducted a survey on the ASX 100 (Australia top 100 companies in the stock market), to find out how they were using social media. And they really don get it at all. Only 54% of the ASX companies used social media (Facebook and Twitter). Although louis vuitton purses speedy 30 Facebook trumps Twitter 500 million users with a whopping 1 Billion, companies in the ASX 100 prefer Twitter to Facebook. Only Myer and David Jones allow comments on their Facebook pages, all other companies are one way communication only. Companies are not consistent with their posting. Throughout the media, the results were regurgitated and highlighted. Articles drew attention to how companies favour twitter over facebook, and that banks areleading the way in social media. Others wrote of how only 50% of companies invest in social media and gave quotes from Web Profits spokesman Paul Sprokkreeff: "Comments on Twitter fly by so quickly, while a faux pas on Facebook often sticks there for everyone to see" But although all this is interesting information, its not exactly unexpected. Colmar Brunton conducted a survey earlier this year, in which it was shown that traditional media beats social media for investors. This may have been what inspired Web Profits survey. Web Profits research has a limited scope and doesn consider the bigger picture of social media. Companies are avoiding the conversation with their customers. Twitter is mostly one way, and those who are on Facebook usually don allow customer feedback. In order to succeed in this changing mediascape, companies are going to need to not only embrace social media, but to take a look at how it all works together. Commonwealth bank is a leader in the ASX companies because it has learned how to really engage its followers online. From advice, political analysis and company history, CommBank have shown that through posting interesting yet relevant content, the followers will grow. I just hope the big companies catch on soon. or they be having a one way conversation with themselves! Interesting article. While there are many obvious benefits to companies opening up to social media, it interesting they apprehensive about the perceived danger it poses. The ability for people to comment openly on a company Facebook wall or Twitter has brought about a new form of customer complaints that actually gain attention from the community, rather than getting mothballed in a HR department. When someone posts about unfair treatment or being off at a store people instantly can relate to it and these types of comments now draw the attention of thousands. 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