The social media world is huge and for companies to continue to grow and connect with their customers they must embrace this social world. How big are these networks? As of January 2013, the five largest social networks based on active monthly users were: Facebook (1 billion), YouTube (800 million) and Google+ (343 million) followed by Twitter and LinkedIn with 200 million active monthly users each. A study released Wednesday by Domo and CEO.com found that nearly 70% of Fortune 500 CEO's have no presence whatsoever on any major social media channels, including Facebook,Twitter, LinkedIn or Google+. Of the 30% that choose to engage in social media, nearly all of them (28%) do so through LinkedIn. While the number of CEO's utilizing the other three networks is small, it appears that Twitter is the only other social channel Fortune 500 CEO's are moving toward. Here are some of the report's most interesting findings:
· There are 28 Fortune 500 CEO's on Twitter, and only 3.8% of the entire group has actively tweeted in the past 100 days.
· Facebook's Mark Zuckerberg and Republic Services' Donald Slager each have a Twitter following that is 30% fake; the highest percentage of fake followers on the list.
· Only 35 (7%) of Fortune 500 CEO's are currently on Facebook, the only social network of the four studied to decrease in representation from 2012.
· Only five Fortune 500 CEO's have Google+ accounts.
The study suggests that CEO's who are active on social media channels rate significantly higher when it comes to leadership attributes than those who don’t use social media. Other benefits include:
· Shows the company is innovative
· Gives company a human face or personality
· Good way for CEO to communicate with employees
· Helps CEO build good relationships with news media
· Gives more employees chance to communicate directly with the CEO
· Has a positive impact on business results
· Helps find and attract new customers
· Gives company a competitive edge
Signing up for social media is simple, when you already have a pre-established audience it is of added value to you to connect with your fans. If you have a reputation, use it. It’s your personal brand, and would be a waste to avoid. Many other CEO's aren't hopping on Social Media and it can give you a competitive advantage, as it’s an easy way to help you stand out that much more. Not to mention the benefits to your company 77% of buyers say they are more likely to buy from a company who’s CEO uses social media. To connect with the new generation of employees, it is time to embrace social media and change communication methods. Gone is the email generation; now is the social network generation. CEO's at America's 500 highest-grossing companies have been slow to embrace social media, despite the proven effectiveness it can have for businesses. "If Social Media is a vital part of today’s online experience, why do so many CEO's neglect it?” Why do you think Fortune 500 CEO's shy away from social media?
I don't think I agree with most of the conclusions that you draw.
ReplyDeleteWhy would it make a difference if the CEO of a big company joins a social network?
1 - A company is innovative if it produces innovative goods or services. It has nothing to do with the CEO joining it. Are you in possession of data to suggest otherwise?
2 - the actual face of the company will always be the community manager or the respective team
3 - the third one is what made me write this: A good way to communicate with employees is an internal e-mail. Not social media. That's an _internal_ means of communication.
4 - ok, but with all due respect, you don't need that. As a CEO of a big company, you can order an article in almost any media like you can order a pizza at Domino's.
5- No again. If an employee needs to address me, I darn well hope he has my e-mail.
6 and 7 are cases to believe in or not. I'll apply benefit of doubt here.
8 over whom?
I'd have appreciated the article more if you'd have gone along the lines "these people are important and we want to know about them and use their insights to our own advantage"
If you're looking for cleverness and insights, follow @richardayers on Twitter. The man is a genius.