70% of the Fortune 500 companies CEO’s doesn’t embrace social media. Staggering!! But social business is really changing the way how we’re doing business now. Peer groups and social networks are changing our behavior and social interaction. Influencers and experts in our peer group are becoming the most important source for (relevant) information. This isn’t a fad, but a true change in the way we deal with the information (overload). A paradigm shift with human behavior being the driver (and not technology – as many people presume -). In this era of information overload people are rethinking the way they consume information. Recent study of the society for new communications research showed that nearly 65% of the sample base indicated that Social Media Networks and professional networks are more trust worthy than traditional news and information aggregators (- The sample consisted of 400 educated professionals)again remember that these are highly educated individuals -). This is a huge shift in the way we gather and deal with information. As a company (or CEO) you can not ignore this shift in communication consumption. Traditional media therefore become lead for people for self-education, with a little help from the experts in their network. As a company or better CEO you better be part of that network….so when only 2 CEO’s of the Fortune 500 companies have more than 500 followers on Twitter I get worried! (And one of the them is the oldest of all: Rupert Murdoch (@rupertmurdoch) – He understands what’s going in -). Or when HP CEO says she’s only one social media when she was running for office…I get worried! Where is the respect for the customers or employees or any other stakeholder out there who’s (definitely) on social media?
So if you are on social media as a CEO of professional you have big advantage over your non social media colleagues! You can connect with your stakeholders, be part of their expert network, and interact/communicate with them. The social professional shows he/she understands the paradigm shift in communication consumption.
Research shows that these professionals spend approximately 40% of their time online interacting in peer-peer communities closely followed by friends (31%) and then family at (13%). They really use their social network into their advantage professionally. The preferred professional network was Twitter (LinkedIn where are you in this research?), while Facebook definitely was the “friends” network. More interesting was that this research showed that Twitter (and the company blog) was also the primary source for company information followed by the company website.
Professionals (CEOs or organizations) that are socially savvy will and are recognizing the value and enhancements that can be derived in the areas of customer service, CRM and customer experience through social media networks. This is becoming a significant competitive advantage for many professionals and organizations as social business evolve and grow globally.
Forbes.com – CEOs afraid of going social are doing shareholders a massive disservice
B2C.Com – Insights into the social mind
Image – http://www.estherbuijs.nl/image/Personal-Branding-met-Social-Media.jpg