We don’t need yet another study to tell us what business leaders already know: Access, insight and engagement with customers, employees and influencers improve a company’s competitive reputation.
Another thing we know: Social media is here to stay. An IBM study of 1,700 CEOs across 64 countries confirms CEOs are well aware of the transformative power of social media to provide that access, insight, and engagement.
So logic would follow that more CEOs would be running toward social media with open arms, rather than backing away, eyes wide shut. But that’s exactly what’s happened in C-suites around the world.
According to a report from CEO.com, 70% of Fortune 500 CEOs don’t participate in social media at all. The reasons CEOs cite are the same reasons I used to hear years (okay, decades) ago about why clients didn’t want to do an interview on CNBC or other broadcast outlets: It is too uncontrollable and mistakes are magnified; I don’t have time; and none of my peers are doing it. Initially, TV was the domain of consumer brands, and consumer brands only. We are at a similar crossroads with social media—those who engage early will have the reputational advantage.
At a time when trust, transparency and relevance are paramount to business success, it’s time for CEOs to lead, connect, and engage. In other words, it’s time to take the social plunge.
The public really is paying attention. A BRANDfog study makes a compelling case. According to the study, 93% of people believe a “social CEO” improves corporate reputation during good times and bad; 82% are more likely to trust a company with a social CEO; 81% think a social CEO is a better equipped leader; and 77% are more likely to buy a product or service from a company with a social CEO.
The good news for CEOs is that social media lends itself to the pressed for time, moving-in a-million-directions lifestyle of a C-level executive. Their peers aren’t doing it? Leaders go first.
STARTING POINT
Not sure where to begin? Find out what your organization’s constituents are talking about and sharing. What are they asking for? What are your employees saying and doing? The only other way to get this insight is a focus group or to have your CEO appear on Undercover Boss, but social media is cheaper, faster and easier.
Once you’ve assessed the landscape, look for opportunities to ease in. You probably wouldn’t walk into a cocktail party, clink your glass and begin addressing the room about your point of view. You’d approach a group, pick up on the existing conversation and participate. Social media begins with social—the same rules about manners and decorum apply. Once your CEO has his/her have feet wet, you are ready to embark on a program.
Keep these things in mind in order to be authentic and relevant:
â–¶ Share More Than Company News: Social media allows CEOs to share information about corporate developments in his or her own words and voice, which helps to build transparency and trust. Michael Dell shares corporate news on Twitter and Bill Gates shares studies and project updates from the Gates Foundation.
But what customers really want to know isn’t what’s going on at your company, but what’s going on behind the business scenes. What books are your leaders reading? What ideas keep them up at night? And they don’t have to be the chief executive’s thoughts alone—+1, like and recommend the knowledge or news shared by their industry peers, friends and colleagues.
â–¶ Share Insights: The CEO is the primary trust ambassador of your company. Once they’ve established themselves on a social media channel by posting personal updates and news of the day, go deeper. Move past “who,” “what” and “where” information—get to the “why.” This is how a CEO becomes more than trusted leader, but a thought leader, even the voice of an entire industry.
â–¶ Move From Monologue to Dialogue: The final piece in having a truly social CEO is to have them engage with people they follow on Twitter and exchange ideas in real time, whether it’s through a Google+ Hang Out or a Twitter chat. These conversations can be moderated or unmoderated, screened or unscreened, depending on the CEO’s comfort level and that of your legal counsel. One to watch: Richard Branson (@richardbranson) connects with 2,000,000+ followers with a good mix of promotional tweets, questions to his followers, birthday wishes and comments on the news.
Follow, friend and get social. Over 2 billion people are already online. CEOs are people too. PRN
CONTACT:
Carreen Winters is executive VP, corporate communications at MWW Group. She can be reached at [email protected].