While almost one in four people across the globe regularly use social media, just 32% of the CEOs of America’s 500 biggest companies have set up their own accounts, despite having a plethora of options. Out of those social media-friendly bosses, 28 have a Twitter profile, 38 have a Facebook account and five are on Google+. The findings have been revealed in a report by executive news platform, CEO.com.
Perhaps quite predictably, the most popular social media platform for CEOs is business and careers network LinkedIn, with 140 Fortune 500 bosses present on the platform. In fact, CEOs are far more likely to be on LinkedIn than everyone else, with just 20% of the general public using it. LinkedIn is also a better fit for CEOs because its main purpose is to connect with fellow businesspeople as well as providing a means of sourcing new staff.
Whereas most people use social networking recreationally – sharing photos of their holidays or posting messages to express their frustration over long commutes – chief executives have the opportunity to use social platforms to amplify their corporate messages. Twitter, for example, is a particularly useful tool, allowing corporate users to distribute thoughts about business in general, their companies and their products or services.
In the more elaborate and interactive realms of Facebook and Google+, users have an excellent opportunity to listen to customers and keep a finger on the pulse of the latest and most topical issues. Social media allows customers to direct questions and criticisms to powerful figures without reams of red tape, and allows bosses to field suggestions for how they can improve their services.
However, CEO.com’s research indicates that some bosses are resistant to change. Many Fortune 500 chief executives are aged in their 50s and 60s, and due to the perception that social media is for the “younger” generation, they do not see the benefit of using it. Some bosses say they simply do not have enough time for it in their hectic schedules, or feel uncomfortable with the transparency of social media and how the platforms can bring audiences too close to them.
With that in mind, it’s all the more impressive that some of the world’s most famous and successful bosses are using social media productively. According to social-influence rating agency Klout, lauded investor Warren Buffett, media mogul Rupert Murdoch and Yahoo boss Marissa Mayer have the strongest social networking presences, with respective scores of 90, 90 and 85.
If they can do it, why can’t the rest?