Social Media is fashionable, but is it really that useful? 56% of Fortune 50 companies don’t seem to think so, which makes you wonder whether all this Tweeting and Facebook posting we do is just a waste of time.

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Only 44% of these 50 have social media links on their home page, yet surprisingly the Twitter icon is more popular than the Facebook item. Is this because Twitter is newer and cooler? Perhaps further suggesting that this is a fashion thing we have going on here. What makes things even more interesting about these statistics is that only 4% link to a blog! I guess if you are one of the lucky Fortune 50 blogging isn’t really a priority, and Google loving fresh content is the last thing on your mind when you are negotiating multi-million dollar deals.

So this suggests that social media is a dance for the SMEs, not the bog boys. Or is it that we have been brainwashed into thinking we need to do all this social stuff, when really we should be concentrating on other areas of business and making more money. I do wonder sometimes why the wealthiest people I know don’t use Twitter, is that just a coincidence, or did they get wealthy in an age when it didn’t matter if you had a blog or cool online social presence.

What do you think, social media, waste of valuable time or necessary evil?

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