Fortune 100 CEOs Drop the Social Media Ball

By Beth J. Bates, New Media Special Correspondent

Well, I guess that BusinessWeek.com said it best – "Fortune 100 CEOs are Social Media Laggards."

The article provides a comprehensive breakdown of a recent survey conducted by UberCEO.com (a blog about CEOs and not for CEOs) that tracks the social media habits of 100 Fortune 100 CEOs. The survey included such business giants as Warren Buffet and Michael Dell. The study concluded that of the 100 CEOs surveyed, only two had active Twitter accounts (one of which was Mr. Buffet who, despite having 8000+ followers, only had one update). None of the CEOs write blogs. Of the 19 CEOs on Facebook, none of them had many "friends."

So why aren't CEOs fully participating in social media? Some studies show that reluctance is a mixture of time constraints and lack of understanding. Others attribute the unwillingness to "fear." ZDNet.com lists a number of these fears:

1. Negative mentions.
2. Being spoofed in online video.
3. Angry online mobs banding together to make demands of the company.
4. Losing control of their work force.
5. Drawing the line between an employee's personal rights to contribute and protecting the company's reputation.

I understand that putting yourself "out there" can create anxiety, but executives need to understand why it's important to communicate using the tools their customers, investors and employees employ. Brand trust is a huge commodity — and what better way to find trust in brand than to identify personally with its CEO?

Beth J. Bates consults with Hinge on social media tool selection and strategy and helps its clients find effective ways to leverage these new mediums to meet business goals.