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I remember the day when you could not use the word blog in public due to an excessive amount of blank stares that would surely result. Fast forward a few years and now it’s almost a requirement in certain circles to have one. You know things have gone too far when someone decides to create a Business Blogging Index. From The Long Tail:
Earlier this year I was at a dinner with Doc Searls and we got to talking about why some companies blog and some don’t. Microsoft blogs, and Apple doesn’t. Sun blogs and Intel doesn’t. GM blogs and Toyota doesn’t. And so on.Perhaps, Doc wondered, the risks and uncertainties of public business blogging are so great that big companies only do it under duress, when their traditional corporate messaging has lost traction. So companies on the way up don’t want to mess with their success by introducing a new lens on the enterprise that isn’t controlled by the PR department. But companies on the way down are willing to try anything to regain the confidence of their customers.
Hmm, I thought. That’s testable. Let’s look at which of the Fortune 500 companies are blogging and compare their past twelve month share performance with those that aren’t. If this theory stands up, the blogging members of the F500 will have underperformed the nonblogging members. And then we can also see if blogging makes a difference going forward, by continuing to follow the two cohorts.
What grew out of this is the Fortune 500 Business Blogging Wiki. I’ll be checking it frequently to make sure I do not miss these exciting new blogs:
Bed Bath & Beyond – pillow news
Exxon Mobil – more reasons to get that SUV
Heinz – ketchup ain’t just for hot dogs anymore
Walgreen – you have to fill your prescriptions somewhere
Wendy’s – square burgers are better
This is my favorite section, though:
Over time, as the list gets more robust, we’ll add the share price performance back in and turn it into a Business Blogging Index so you can see if blogging is indeed correlated to company performance (and who knows, maybe someday some smart mutual fund will actually turn it into a fund you can buy).
The unfortunate part is that some people would actually buy that fund. Forget the management, the cash flow, the product lineup, or the industry. Blogging is what drives the corporations of tomorrow. Amazon.com and Microsoft are more likely to blog than Berkshire Hathaway or Dollar General because they simply “are willing to try anything to regain the confidence of their customers”. Everything is so clear to me now.
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