Although there is already a growing list of reasons why it is beneficial for every member of a company’s team to participate in social networking, there may be another new reason that should encourage further consideration.
BRANDfog Study
A recent study conducted by BRANDfog shared some rather concerning statistics about CEO participation in company leadership via social media platforms. The general consensus is that top business executives are slower than their employees and consumers when it comes to using social media for communications.
- 64% of CEO’s are NOT engaged on their company’s website or social media networks
- Only 5% of all Fortune 500 CEOs are on Twitter
- Only 4% of global CEOs have a profile on Facebook or LinkedIn
- Only 13 Fortune 500 CEOs have active Twitter accounts
If that alone isn’t enough reason to encourage CEOs and others in similar positions in their company to join Twitter, Facebook, or LinkedIn, then it may be important to understand that on the same study, 86% of respondents rated a CEOs engagement on social media networks to be either important, very important, or mission critical.
Why CEO Engagement is Important
There are a few reasons why CEO engagement on social networks can be beneficial. During the BRANDfog study respondents answers also indicated that 78% of CEO participation on social media networks led to better communication. 71% of them agreed that it can lead to improving brand image, and 64% agreed that it provided more transparency, an element vital to a successful social media marketing campaign. The study has also shown that 82% of respondents listed as employees believe that a company can garner more trust when the CEO or leadership teams communicate via social networks.
Can a CEOs Social Media Presence Influence Purchasing Decisions?
The study says yes. The majority of the study’s participants, 77%, shows that consumers are more likely to buy from a business whose CEO uses social media opportunities to help define their company’s values and leadership principles. 94% of those respondents also agree that the C-list leaders participation in social media can help to enhance a brand’s image.
Author:
@BasilPuglisi is the Executive Director and Publisher for Digital Brand Marketing Education (dbmei.com). Basil C. Puglisi is also the President of Puglisi Consulting Group, Inc. A Digital Brand Marketing Consultancy that manages professional and personal branding for Fortune 500 CEOs, Hedge Fund Managers and Small Business Owners. Follow him on Google+
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Well of course people are more likely to buy from companies with social media presence. The more digitally connected we get the more credibility social media confers and the more people like companies that use it.
It is more authentic when the CEO makes a presence to represent the company. It builds more trust in the brand. Great article!
I agree that participation from those in leadership positions gives one the impression that s/he is in touch with the target demographic who is using this medium.
Perhaps they still have to be convinced that it’s a useful tool; maybe the CEO’s focus is elsewhere and they don’t see the ROI of social media or the benefits of it and so they think they can survive without (they survived before right ? ) Of course I don’t agree with this but some people are slow to change.
@equalman “said the ROI of Social Media is you still have a business in 5 years”
Great information here. As many have mentioned previously, given the time we live in and the ability to connect with others, this is just becoming part of the process that many use in choosing where we spend our dollars. If many CEO’s are slow to engage, one might wonder how resistant that organization may be to real change, the type of change that is sweeping across the globe?
Interesting point, Perhaps the sucess of a company and stock can be predicted by the CEO and C suite use or lack of use of Social Media
Great article, and I hope that the non (or under)-involved CEOs take heed!
Interesting article.
I think small business owners should jump in social media.
Well thats a must for a CEO of a small business, but what about the mid size firms and large corporations?