3 Critical Reasons Why CEOs Must Participate in Social Media [Recent IBM Study]
IBM has recently conducted a study to discover how many CEOs use social media and actively participate in engaging their customers. They spoke to 1709 CEOs around the globe and came back to present some interesting statistics:
No, this isn’t a typo folks- the study has shown that only 16% of CEOs participate in social media today!
Why is that the case? I believe that Marketers were the first to dip their feet into this newly discovered world of social media for businesses. After witnessing the generous returns on their investment, more CEOs are just starting to play an active role with the social media tools available to them.
I am confident behind this statement because IBM’s study also shows that 57% of CEOs will be participating in social media marketing in the next 3 to 5 years. It will become the number two organizational engagement method, face-to-face interaction being the first. This exponential growth is about to take off!
Based on this study, here are the 3 critical reasons why CEOs must participate in social media:
1 – Competitive Advantage
As a consumer, nothing makes me feel more connected to a brand then having a direct two-way conversation with the Chief Executive Officer of the brand. When they are listening to what I have to say, I truly believe that they care.
Imagine driving up to the drive-thru window of your favourite coffee shop and being surprised by the CEO of the brand. He simply asks how you are doing, hands you the beverage, and thanks you for coming by. I don’t think I could remotely consider visiting their competitor’s shop after an experience like that. The CEO of any brand can achieve the same results by using social media the right way.
2 – Being Ahead of the Curve
When consumers have a positive experience with a brand, what really makes it special is when the experience is unique. If every brand was doing the same thing it really wouldn’t be special, would it?
With only 16% of CEOs using social media today, there is still time for others to set themselves ahead of the curve and engage their customers in a unique way. We have already witnessed how powerful it is for consumers, now it is time for the CEOs to respond the same way. Without a doubt, it will be the early adopters that gain the most value from this opportunity.
3 – No Fence to Sit On
We talked about the benefits of being an early adopter; unfortunately, the ones that fail to be proactive may end up paying the price.
As the management starts to increase their participation on social media, the consumers will also have higher expectations. Offering a great product or service may not be enough to compete against a competitor that is engaging potential buyers, because people buy from brands that they know, like, and trust.
In the next 3 to 5 years, many small and medium-sized businesses will have a dramatic increase in their customer loyalty and retention rates simply because the CEOs are investing the time to listen. Using social technology to interact and connect with customers and other businesses will allow organizations to be proactive and meet the needs of their customers.