CEOs are turning to social media more than ever, but they’re still not fully leveraging those tools, according to a new report from Domo and CEO.com.
The researchers looked for social profiles for every CEO of a Fortune 500 company on Facebook, Twitter, LinkedIn, Google+ and Instagram. They found that 68 percent of Fortune 500 CEOs lacked a social presence – they weren’t on any of the major social networks. These CEOs are seen as less innovative than their tweeting counterparts. However, there was an increase in the number of CEOs who had Facebook and Twitter accounts in the past year.
Over two-thirds of social media-using CEOs were only on one social platform – most of them chose LinkedIn. There was only one Fortune 500 chief executive who was on all five of the major platforms: Mark Zuckerberg.
Accounts that follow celebrities on Twitter are on average 30.4 percent fake, while CEOs have an average of 11.5 percent fake followers. Notable exceptions include:
- Mark Zuckerberg: 34 percent of followers are fake
- Rupert Murdoch: 25 percent of followers are fake
- Warren Buffett: 20 percent of followers are fake
While there were a handful of CEOs on Twitter who never bothered sending even a single tweet, almost 70 percent have tweeted in the past 100 days. Of those CEOs, half of them tweet once a month or less, and under a quarter of them tweet on a daily basis. The most active tweeter of the bunch was Jack Salzwedel, CEO of American Family Mutual Insurance Group. He tweets almost five times a day.
Here are some other takeaways from the report:
- Most Twitter followers: Warren Buffett wins this one, with over 875,000 followers at the time of this writing.
- Fastest-growing on Twitter: The honor goes to Hikmet Ersek, CEO of Western Union.
- Only six CEOs have Facebook fan pages:
- A quarter of the CEOs are on LinkedIn, and 19 of them are LinkedIn Influencers. They’re using the platform to connect with stakeholders.
- Only eight CEOs are on Google+
While the social media presence of CEOs are on the rise, the majority of them still are not on any social network. According to the report, being active on social media can help:
- Shape company image
- Build relationships with employees and journalists
- Give a human face to the company
While the executives are no doubt busy and may see social media as not worth their time, it’s probably time to re-think that judgment.