Do CEOs need charm school, rather than business school?
According to a new study sponsored by Domo and CEO.com, CEOs at Fortune 500 companies are participating in social media channels significantly less than the general public. The study claims that 70% of them have absolutely no presence on social media.
On the major social networks, including Facebook, Twitter and Google+, the participation of Fortune 500 CEOs was minimal, with only 7.6% on Facebook, 4% on Twitter, and less than 1% on Google+. In comparison, more than 50% of the U.S. population uses Facebook and 34% uses Twitter. No Fortune 500 CEOs are on Pinterest.
LinkedIn is the most popular social media site among Fortune 500 CEOs, with 26% on the network, compared to just 20.15% of the U.S. general public. Of that group, ten Fortune 500 CEOs have more than 500 LinkedIn connections, while 36 CEOs have 1 LinkedIn connection or none.
Six Fortune 500 CEOs (or more likely, their PR departments) contribute to blogs, and only one of the six CEOs, John Mackey of Whole Foods, maintains his own blog.
Given the demographics of Fortune 500 CEOs, none of this news is jaw-dropping. Older, well-established corporate guys (and gals) in the business world’s stratosphere are not wired for social media.
But here are some potential take-aways from the research:
- The propensity of C-level executives at companies of all sizes – well below the Fortune 1000 level – to invest time on social media outlets is extremely low. Top decision-makers spend most of their day dealing directly with people within their own sphere of influence. And most C-level execs still are not convinced that social media is anything more than a technology hula-hoop that will eventually run out of steam.
- Marketers attempting to reach and influence C-level decision-makers are still best-served by leveraging the channels that are used and respected by that target audience…including traditional business media sources and professional forums; and by seeking to influence the 2nd and 3rd tier corporate executives who provide insight and guidance for C-level decision-makers…which may involve selective use of social media tools.
- Aspiring CEOs may still be more likely to reach the top of the corporate ladder by joining the right country club, rather than by having 500 connections on LinkedIn.
Marketing Craftsmanship 