Social Media Usage of CXOs
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This past week I attended The World Business Forum Reception at The Yale Club in NYC. The participants included some leading CEOs and VCs from powerful companies. They had a couple of presenters covering the topic of social media, so naturally I was interested in hearing what they had to say to an elite crowd.
73% of CEOs Think Marketers Lack Business Credibility | New Media and Marketing - (Private Browsing)Well it looks like marketers haven’t quite sold CEO’s on the value of marketing and branding and frankly they have nobody to blame but themselves. The Fournaise Marketing Group found that marketers focus too much on the latest marketing trends such as social media, because they believe they represent the new marketing frontiers – but can rarely demonstrate how these trends will help them generate more business for the company (74%). In other words they are doing because they are high on the social media propaganda not because of ROI to brand/business objectives. Here is a perfect example of data leading people by the nose without thinking: Data from “The 2011 Social Shopping Study” (a study by the e-tailing group and PowerReviews) indicates that 50% of consumers spend 75% or more of their total shopping time conducting online product research, with 15% spending 90% or more of their shopping time in this manner.
The time constraints on today’s executives are more numerous than ever before. Between the economic downturn, ever-changing industry regulations, fast-moving information and simple day-to-day management tasks, corporate executives are trapped in the virtual jail cell that is today’s business climate. The unintended result of executive “information-imprisonment” is a workplace where they may have little insight into employee morale, culture, and general goings-on during the workday.
Thanks for stopping by! I appreciate it. If you enjoyed this post, please consider signing up to my RSS feed in your favorite reader or email. For my job, I read and research A LOT and save A LOT of useful stats and figures that help “sell” the benefits of social media for companies. Not just from a communications perspective, but also from a strategic thinking and integration point of view.
I have recently posted articles on ” 9 Ways To Convince The CEO To Use Social Media and Enter The 21st Century “, as well as ” 28 Reasons Why The CEO Is Afraid Of Social Media “, so this study presented at Harvard University by the “ Society For New Communications Research ” (SNCR) in November 2009, was a rather interesting read. I thought that a summary of their findings would be a great backdrop and insight into how the CEO and major decison makers are using social media. In the survey they asked questions like Are professional networks being utilized by decision-makers in business? Is social media typically regarded as a trustworthy source of information for professionals? In what ways do professionals rely on social networks to support business decisions?
<a href="http://adserver.adtechus.com/adlink/3.0/5242.1/1777863/0/225/ADTECH;alias=CMO_ROS_Top_728x90;loc=300;;grp=406864068" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5242.1/1777863/0/225/ADTECH;alias=CMO_ROS_Top_728x90;loc=300;;grp=406864068" border="0" width="728" height="90"></a> karl hakkarainen C-Level Executives Taking Up Social Media Bio
The corner office isn’t on board yet. If you’ve read Burston-Marsteller’s latest findings from surveying 200 CEOs about social media, you’ll realize that we still have a lot of questions to answer. And whether you’re an internal advocate working hard to build a case for social media, or a professional seeking to advise companies on how to use social media effectively, there are a few things to note about these results. Only 18% of CEOs have used social media to communicate with stakeholders. Of those that do, Facebook is dominant, blogs weren’t even on the list (?)
LinkedIn is the poor second cousin of the social networking fraternity with its glamorous siblings Facebook and Twitter hogging the limelight. Facebook wins the popularity contest with nearly 8 times more friends than LinkedIn and Twitter just keeps getting mentions in the newspaper’s society pages. If LinkedIn had a personality, you would maybe say that it was quiet, professional and quite private. How you use social media is dependent on what you are trying to achieve (goals) and who you want to meet (target audience) and if you want to make serious professional contacts for B2B then LinkedIn is the place to hang out.
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Fast-growing companies are particularly visible on social media sites such as Twitter and Facebook, according to a new study. For the third consecutive year, the Center for Marketing Research at the University of Massachusetts Dartmouth has conducted a study that looks at the usage of social media among Inc. 500 companies. The 2009 results confirm that America's fastest growing private companies adopt social media marketing initiatives at much higher rates than other companies, and that interest in social media has grown since the first study was conducted in 2007. Conducted by researchers Nora Ganim Barnes and Eric Mattson, this year's study looked at 148 of the 500 companies on the 2009 list. As was the case in each of the past two years, respondents were asked about their usage and familiarity with six types of social media tools, including blogging, podcasting, online video, social networking, message boards, and wikis.