Business leaders' adoption of personal social media is no longer optional
CEOs who use social media are trusted up to nine times more by financial readers, and 80% of employees prefer working for a social media-active CEO. Discover why 2024 is the year of business leaders on social media below.?
To keep the article concise, I'll use the term "CEO," to encompass all types of business leaders, from C-suite executives and VPs to heads of departments.
I wanted to gain a deeper insight into how active CEOs are on social media, so I thought, where better to look than the LSE FTSE 100 ? I randomly selected 5 companies and conducted the following audit.?
I aimed to avoid a completely negative audit. Despite the initial five companies, I persisted until I found a positive CEO to highlight, which is why there are six below instead of five. It took reviewing 25% of the companies to identify a single noteworthy CEO. I won't delve into the exhaustive details of the entire 25%, but for context: Prominent CEOs such as Ken Murphy (Tesco), Simon Wolfson (Next), and Pete Harrison (Schroders) are notably absent from LinkedIn. Pete Harrison created an account but it's inactive, with just 16 followers and no profile info. There is a missed opportunity for Next and Simon Wolfson to not be capitalising on their current success .?
The limited engagement of FTSE 100 CEOs on platforms like LinkedIn might be attributed to several factors. Many may be hesitant or not feel an urgent need to establish a strong online presence, possibly due to the traditional nature of their industries or a preference for a cautious approach to public interactions. Concerns about miscommunication and potential backlash on social media could also play a role in their reluctance. Additionally, they might be more comfortable with traditional media or direct stakeholder engagement, which aligns more closely with their leadership styles and business approaches.
However, I perceive these reasons as convenient excuses for CEOs to avoid engaging in social media. The real challenge is more complex and twofold:?
1. There's a general lack of understanding about why social media is absolutely essential for modern-day CEOs, especially those at the helm of public companies.?
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2. CEOs often struggle with knowing what to say and how to use social media effectively.
Why do I, as a CEO, need to embrace social media??
Trust: As a CEO, building internal and external trust is crucial. A Brunswick report finds that CEOs active on social media are trusted up to nine times more than inactive ones, especially among financial readers.
Employee Preferences and Recruitment: 80% of employees express a preference for working under a CEO who is active on social media. This preference reflects a desire for accessibility and a more personal connection with top leadership. Furthermore, 82% of potential employees research the CEO's social media activity before deciding to join a company.?
Thought Leadership: Leading a business or being a CEO offers a unique platform to capture attention, particularly when you focus on your industry-related thoughts and opinions. Begin by following these steps, and then develop different types of content and talking points. People actively seek insights from CEO, for example, 55% of decision-makers use social media to learn from thought leaders , as reported by LinkedIn. One of our leaders gained over 60,000 new followers in three months by shifting from sporadic to weekly thought leadership posts. This not only enhances internal and external communication but also strengthens your ability to convey your business vision and ultimately contribute to growth.
This shift in CEO engagement on social media, particularly on LinkedIn, is not just a trend but a fundamental change in how business leaders perceive and utilise digital communication platforms. As we move forward, it's evident that social media has become an integral part of the modern CEO's toolkit, opening up new avenues for connection, influence, and thought leadership.