Recent blog from Harvard Business Review expounded the virtues of CEOs using social media. They cited several facts, some of which don’t exactly make the case. For instance, LinkedIn was the most used medium (26% of CEOs surveyed), however only 4% use Twitter. Another study predicts CEO use of social media will rise from 16% to 57% in the next 5 years.
First, social media is about accountability if nothing else. Where does “the buck stop” in a company? With the CEO of course. Companies that engage in social media are 82% more likely to be trusted. Want to be trusted? Want to convey authenticity? Play in social media.
And, CEOs love insights … into their customers, how their products are perceived and “what could be.” Social media, unlike any other media, offers the opportunity for spontaneous research. Without the recruitment, the staging or the pretense. Most importantly, the CEO that engages in such forums, not only gains a new appreciation about his customers’ perceptions, he will gain brownie points in terms of referral. How likely will a customer tweet or post an online discussion they have with the company’s CEO? How will their followers view the company?
As CEOs discover that social media offers traditional tasks they personally value, more will jump on the bandwagon.