Social Media for the C-suite? Come On In…The Water Is Fine

CEOs, where are you?

New research by Domo and CEO.com found that CEOs at Fortune 500 companies participate in social media channels significantly less than the general public. They’re not on Facebook or Twitter or blogs or Google Plus or Pinterest, and quite frankly . . .

That’s a problem.

If my C-suite colleagues aren’t participating in social media, they’re absent from the online conversations and collaboration currently shaping the global business environment. They’re missing out on enormously valuable opportunities, both personally and professionally –and by extension, their companies are missing out, as well.

Despite the significant (and mounting) downsides, however, this new data shows that C-suite resistance to social media is widespread, and it runs deep. Here are a few details from the study:

• Remarkably, 70 percent of Fortune 500 CEOs have no presence on social networks.
• A mere 7.6 percent (38, in all) are on Facebook –compared to more than 50 percent of the U.S. population.
• Even fewer (4 percent, or 20 in all) have opened Twitter accounts. Of those, five have never tweeted. Again, to put this in perspective, 34 percent of the U.S. population has a Twitter account.
• Six Fortune 500 CEOs contribute to blogs, and only one, John Mackey of Whole Foods, maintains a blog on his own.
• Less than 1 percent is on Google Plus. None are on Pinterest.
• LinkedIn was by far the most popular social media site among the Fortune 500 CEOs. More than one-quarter (26 percent) are on the network, compared to just 20 percent of the U.S. general public.

So, why this reluctance? What’s keeping the C-suite so silent? The reason can’t be money, time or access –CEOs hurdle those types of challenges every day.

As I see it, CEOs are dragging their feet with social media because they’re a little too conscientious, a little too worried about wrapping their arms around this new world and getting it right. Maybe, it’s the dreaded paralysis by analysis . . . or perhaps just the all-too-common fear of living in an increasingly litigious society.

Obviously, no CEO wants to risk compliance or their company’s good name, especially in front of such a public, worldwide audience. But, if Michael Dell –or @MIchaelDell, I should say –can find a way to make this work (and even shake things up with the occasional jab at a competitor), shouldn’t other C-level execs be able to do the same? Must the weight of approval by legal and compliance drag down every Tweet and Facebook post, frustrating any ambition C-suiters may have to connect with an online audience?

I plan to discuss a few of these sticky issues surrounding C-level social media participation in more detail in a future blog post, but for now CEOs, let me offer this: There is no one right way to succeed at social media. Your approach and your voice will be distinctly yours and yours alone. You’ll uncover a strategy that works for you. And, yes, you’ll undoubtedly have to endure a few bumps in the road as you find your way.

After all, since platforms and networks are constantly evolving, no one can get their arms around the whole of social media –and even more to the point, you don’t have to.

Take my advice. Start small. Focus. Find out where your customers are, and tune in there. Begin by listening to the conversation. Where can you add insight? Where can you offer help? Chart a course for your participation –and yes, by all means, touch base with legal and compliance as you do. Once you start being consistently engaged, you’ll be rewarded –with new contacts, spirited dialogue, a better understanding of today’s social business drivers . . . and, of course, considerable competitive advantage.

In other words, summer is nearly over, so come on in . . . the water is fine! Please take a minute to connect and let me know how social media works for you. Whether you’re logging in from the C-suite, the ivory tower, a cubicle or a park bench, I want to hear what you have to say! You can leave a comment below, or catch up with me on Twitter at @AprimoBob.