By Sharon A.M. MacLean who invites your comments following this blog. You can also find more modern marketing strategies for business here.
CEOs finally are deciding to engage online and in social media.
Much has transformed since last year when blogger/author and former high tech executive Steve Tobak decried C-level involvement in the digital world. He supported CEOs who avoided social media because they “had better things to do such as run their companies, make great products that beat the competition, make money, and negotiate with big customers.”
It’s old news. Olivier Taupin of Next Dimension Media who has coached C-suite executives on social media for the last 15 years, says, “Yes!” to the message that executives have better things to do with their time. Think competitor knowledge…product research…influencers who drive followers to your business… partnership deals…and expert status.
Tobak needn’t worry for CEOs concerned about the downside risk of saying something awkward in a public network. Astronaut Chris Hadfield defined risk management this way: “Knowing what the next thing is that might kill you” and taking action to mitigate that. Most CEOs have figured out social media.
CEOs engage in social media
Weber Shandwick, a leading global public relations firm, released 2015 survey results that asked 50 of the world’s largest companies about their attitudes to social media. The firm found that 80% of those chief executive officers today engage in digital media.
The PR firm is familiar to me and I trust their work. Suffice to say that Socializing Your CEO: From Marginal to Mainstream reveals CEO sociability has more than doubled since 2010 when only 36% of CEOs were social. This is good news; we increasingly are looking for leaders to take responsibility for building respect online among customers, employees and investors. Weber Shandwick defined CEOs to be “social” if they did one of the following:
- Opened a public and verifiable social network account on Facebook, Twitter, LinkedIn, Weibo, or Mixi;
- Engaged on the company website through messages, pictures, or video;
- Appeared in a video on the company YouTube or YouKu channel;
- Authored an external blog.
It stands to reason that forward-looking CEOS don’t want to get left behind. They typically enjoy inspiring others…have a clear vision for their company…are good communicators…and are focused on their customers.
Weber Shandwick’s research shows that CEOs say their social media presence makes them feel inspired (52%), technologically advanced (46%), and proud (41%). Sociability indicates a “leader is listening, open to engaging in two-way dialogue with stakeholders, and comfortable with change.” Social CEOs also help to attract and retain employees.
Online MBA reports almost half of a company’s reputation is attributed to how people view the CEO since half of all consumers believe that a leader engaged on social media is more in touch with customers. Eight out of 10 consumers stated they’d be more likely to trust a company whose CEO and team engaged on social media and they would be more likely to buy from a company whose leaders were involved in social media.
Why did it take CEOs so long to join this shift in culture? Probably because most decision makers wanted first to see social media ROI. Don’t think that’s going to happen anytime soon; the 2015 CMO Survey reveals 41.8 % of marketers have a good qualitative sense but not a quantitative sense of social media impact on business.
Might be better to think of Return on Influence.
Mark Schaefer’s phrase, Return on Influence, is a logical measure for me. “When companies such as Disney, Nike, and Microsoft are creating successful marketing efforts centered on people’s social influence scores,” said Schaefer, “as a business professional, you’d better take that seriously.” The more followers you have, the more influential you are to those looking into your niche.
Social media benchmark results
Still, marketers want to satisfy the boss when it comes to expectations. Webmarketng123 reports that Return on Investment continues to concern marketers in their 2015 State of Digital Marketing Survey of over 600 U.S. marketing professionals. They learned that revenue maintains top billing but proving ROI continues to pose a major challenge.
LinkedIn came in first when it came to answering the question for B2B: “Which of the following social media channels below have generated revenue for you?”
- Facebook – 20%
- LinkedIn – 37%
- Pinterest – 3%
- Twitter – 19%
- Other – 12%
- Not sure – 46%
How about the power combo of the blog and email marketing? Yes, 60% of B2B brands now blog, at least once a week. And email marketing remains the clear favourite at 93% among B2B marketers followed by social media (87%), SEO (78%) and paid search (56%).
Back to Weber Shandwick and my top 4 take-a-ways for CEOs.
- The company website is the top destination for executive A no brainer here. This is a simple entry point for executives where messages are easily controlled.
- Corporate video is fast becoming the new normal for CEOs. Executives trained on camera for media interviews will be more comfortable appearing on video. As Weber Shandwick recommends, think about repurposing video clips of CEOs giving quarterly earnings presentations at industry-related events. Different videos may be created for customers.
- LinkedIn is considered a safe network for business. The rate of CEOs using LinkedIn nearly quadrupled to 22% from 4% since 2010. They are beginning to understand that LinkedIn is useful for purposes of research, networking, and business development – in addition to job recruitment.
- CEOs can help position companies in their respective niches by establishing themselves as a trustworthy leader. They also are able to identify and nurture other influencers from within their industry to drive attention and demand for their products and services.
Finally. The CEOs have arrived at the helm of social media.
Lifelong communications strategist Sharon MacLean owned and published a traditional print magazine for over 21 years for business people. She is certified in Integrated Online Strategies from the University of San Francisco and the Instant Customer Mastery Certified Professional Program.
I love the idea of CEO’s getting involved, and establishing their brands as a trusted leader. Should have started this a long time ago in my opinion. Great post, thank you for sharing.
The Burgandy Boudoir
Facebook has definitely been my money maker, I’m now learning to make money from my list.
Heather Roach Heuman
I’m fairly sure that if any CEO is alive and connected in any realm to the culture they know their is validity in social media. It makes complete sense to me for the CEO to also realize that social media marketing is here to stay and to get connected and participate.
I mean smart business is really about the relationship.
Interesting that LinkedIn has been so much more successful for generating business than Facebook or Twitter. I admit I haven’t done nearly as much with LinkedIn as I should. Will definitely revisit it after seeing this.
I honestly haven’t given any thought prior to this article about CEO’s and social media. I assumed that most higher-ups weren’t monitoring SM accounts and that customer service people handled it. But you made some good, valid points about how CEO’s keeping up with the times will benefit their company overall.
Now if we can get administrators in the world of academia to make the move to more involvement in social media.
South FL Savings Guy (@sflsg)
Great analysis of the social media playground for the C-Level executives Sharon! 🙂
Delia Rusu (@happyblogplaza)
It’s great to see that CEOs and other executives start to understand the power of social media and use it yo the advantage of their companies. It’s indeed the beginning of another era.
Jackie Harder (@keydynamics)
Sad that nearly have have no clue re revenue generation from social media. Virtually all of my coaching clients come from LinkedIn. I love it.
It would seem that big companies would jump on the bandwagon and hire social media pros. If for no other reason than to get their name known.
Kristen Wilson (@k10wilson)
Great read Sharon and no surprise to see that LI is a main source for many companies. What wasn’t a surprise but also sad was that the majority didn’t know where their traffic was coming from… hello people.. Google Analytics