At Digital Leadership Associates we create a lot of content and comment on many articles. Many of which cover the topic of CEOs being absent, inactive or even apathetic when it comes to social media.
A CEO is by default, very busy, so how’s this for an idea? Maybe, just maybe, it’s not their fault. Maybe it’s their advisers, strategists or the CMO, Sales VP and others from the C-suite and leadership team, that aren’t stepping up.
Yes, there are some CEOs that are very active on social media and we are thankful for those that post and share content with a personal element. So much better than random generic posts telling us how great their business is.
As for the rest – they obviously haven’t been told how important social media is. Maybe they’re unapproachable and don’t like told what they should be doing? No way. Maybe it’s the teams they turn to for guidance, ideas and market insights that are failing them. They are being let down by leadership teams that are taking the easy option. Leadership teams that would rather stay in their comfort zone than venture 100% into social media and programmatic social selling.
Maybe, just maybe, the prospect of gaining a huge competitive advantage isn’t important to them. Maybe the prospect of getting 20-30% of new revenue sounds too much like hard work. Maybe, just maybe – 10 years ago they read that social media was a flash in the pan. Ryan Erskine’s article shares some shocking statistics with us. Statistics that, should they stay that way for too long, will result in us saying adios to a whole host of well-known businesses over the next decade.
If you’re a CEO that isn’t being told how important social is to you and your business - tell me, as I’m not afraid to explain it to you.
Roughly 60 percent of Fortune 500 CEOs are not active on any social media channel and fewer than 12 percent are active on more than one channel. That’s surprising, especially given consumers’ overwhelming desire for transparency from businesses and business owners. Consistent headlines about data breaches and privacy concerns are surely to blame, leading 86% of Americans to say business transparency is more important today than ever before. It’s no longer safe for businesses to stay silent on their values, business decisions, and political and social stances. Younger buyers, especially, are using digital transparency as a measuring stick to identify the companies they want to purchase from — and those they don’t.