If you didn’t know blogging was the hottest fad on the Internet, if not the planet, you should know it now. The Long Tail – Announcing the Fortune 500 Business Blog Index is the announcement that a new wiki has been developed which will track the bloggers working for the top Fortune 500 blogs.
Short form: In collaboration with Socialtext, we’ve created a wiki that tracks which of the Fortune 500 is blogging. We found that only 3 4% of the F500 are doing so.
Long form: 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…
…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.
Social Text Biz Blogs is the wiki they’ve developed. It is open source and if it works right, they will do even greater things with it.
This kind of project may give corporate blogs more legitimacy on all fronts, and may tie in with adding more respectability to bloggers everywhere, and who knows, maybe even directly influence the stock market and fortunes of these Fortune 500 companies.