Welcome!

Agile Computing Authors: Yeshim Deniz, Liz McMillan, Pat Romanski, Elizabeth White, Zakia Bouachraoui

Related Topics: Agile Computing

Agile Computing: Blog Feed Post

CEOs and Social Media

Why Are Many Executives Still Avoiding a Social Media Presence?

In a recent Club Industry fitness pro blog post "Equinox President One Of Many Executives Taking On Twitter", Stuart Goldman correctly identified several leaders in the health club business who are active on twitter:

 

Interaction on Twitter from fitness club industry executives is becoming a growing trend. Earlier this summer during the Olympics, 24 Hour Fitness President and CEO Carl Liebert (@C3hoosier) sent out tweets and posted several retweets from London. Anytime Fitness CEO Chuck Runyon (@ChuckRunyon), an active Twitter user, responded to Twitter followers during and after his appearance on ABC’s “Secret Millionaire.” Recently, EvanCarmichael.com ranked Snap Fitness CEO Peter Taunton (@PeterTaunton) No. 27 on a list of Top 100 franchising experts to follow on Twitter. Twitter can be a source for personal news as well. Late Tuesday night, RetroFitness CEO Eric Casaburi (@ECRETRO) chose Twitter to announce the birth of his son, Andrew Robert, No. 4 in the Casaburi clan.

Kudos to the executives Stuart mentions for their leadership. In our company Fitmarc, CEO @Robertjdyer is a very active user of social media as am I and our entire company. Yet so many, particularly in the C Suite, are still avoiding having a presence and often even an adequately managed brand presence in social media. In fact this lack of participation by CEO's is even noticable in many other industries.

Ryan Holmes, CEO of Hootsuite, wrote a recent Fast Company article The $1.3 Trillion Price Of Not Tweeting At Work which substantiates the relatively low use of social media by executives. Even Larry Ellison, CEO of Oracle, a technology company mind you, hardly ever tweets! In fact, among CEOs of the world’s Fortune 500 companies, a mere 20 have Twitter accounts. Amazing. Ryan's article points to a new report from McKinsey Global Institute. According to an analysis of 4,200 companies by the business consulting giant, social technologies stand to unlock from $900 billion to $1.3 trillion in value. At the high end, that approaches Australia’s annual GDP. The McKinsey analysis isn't the only recent report that should raise some eyebrows.

IBM's recent report , Leading Through Connections, was based on interviews with over 1,700 leaders in 64 countries . According to the report only 16 percent of the CEO's participated in social media. The study reveals that social media is currently the least-utilized method for connecting with an audience. Today the hierarchy of connecting with customers still follows an old-school formula with first being face-to-face, followed by websites, channel partners, call centers, traditional media, advisory groups, and finally social media. However, social connecting will surge to over 57 percent within the next 5 years. I'd say it will be a greater percentage and faster than that.


So why the avoidance ? Fear in my opinion is the key driver and in four ways:

  1. Fear of the Unknown - Ignorance isn't the enemy of progress but the illusion of knowledge is. Many Non-Millennial executives just don’t get it, or refuse to even consider social media. They sure aren’t going to let some young up and comer tell them what to do or how to use social media either;
  2. Fear of Change - Apathy and stagnation go hand in hand. For many executives, social media seems like a lot of work and they're busy enough already. Taking on a new project let alone a whole new paradigm is just something they avoid;
  3. Fear of Technology - As the world embraces all things digital at exponential rates, many execs feel like they understand less and less about the underpinnings of their business; and
  4. Fear of Transparency - Being on social media as a C level executive means the world has access to you. This includes customers, suppliers, the media and others. Being accountable publicly is a scary thing for many executives.

So tell me, BryanO'Rourke, what do you think about executives using social media ? Is fear the key barrier to its use ? I'd love to hear your thoughts. Thanks for reading and if you like the article please share it on Facebook, Twitter or your other social networks.

More Stories By Bryan O'Rourke

Bryan O’Rourke is a health club industry expert, technologist, financier, shareholder and executive in several fitness companies. He consults with global brands, serves as a member of the GGFA Think Tank, is President of the Fitness Industry Technology Council and a partner in FitmarcIntegerusFitsomo and the Flywheel Group. To learn more contact Bryan here today .

Comments (0)

Share your thoughts on this story.

Add your comment
You must be signed in to add a comment. Sign-in | Register

In accordance with our Comment Policy, we encourage comments that are on topic, relevant and to-the-point. We will remove comments that include profanity, personal attacks, racial slurs, threats of violence, or other inappropriate material that violates our Terms and Conditions, and will block users who make repeated violations. We ask all readers to expect diversity of opinion and to treat one another with dignity and respect.


IoT & Smart Cities Stories
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
Whenever a new technology hits the high points of hype, everyone starts talking about it like it will solve all their business problems. Blockchain is one of those technologies. According to Gartner's latest report on the hype cycle of emerging technologies, blockchain has just passed the peak of their hype cycle curve. If you read the news articles about it, one would think it has taken over the technology world. No disruptive technology is without its challenges and potential impediments t...
If a machine can invent, does this mean the end of the patent system as we know it? The patent system, both in the US and Europe, allows companies to protect their inventions and helps foster innovation. However, Artificial Intelligence (AI) could be set to disrupt the patent system as we know it. This talk will examine how AI may change the patent landscape in the years to come. Furthermore, ways in which companies can best protect their AI related inventions will be examined from both a US and...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Bill Schmarzo, Tech Chair of "Big Data | Analytics" of upcoming CloudEXPO | DXWorldEXPO New York (November 12-13, 2018, New York City) today announced the outline and schedule of the track. "The track has been designed in experience/degree order," said Schmarzo. "So, that folks who attend the entire track can leave the conference with some of the skills necessary to get their work done when they get back to their offices. It actually ties back to some work that I'm doing at the University of San...
When talking IoT we often focus on the devices, the sensors, the hardware itself. The new smart appliances, the new smart or self-driving cars (which are amalgamations of many ‘things'). When we are looking at the world of IoT, we should take a step back, look at the big picture. What value are these devices providing. IoT is not about the devices, its about the data consumed and generated. The devices are tools, mechanisms, conduits. This paper discusses the considerations when dealing with the...
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science," is responsible for setting the strategy and defining the Big Data service offerings and capabilities for EMC Global Services Big Data Practice. As the CTO for the Big Data Practice, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He's written several white papers, is an avid blogge...
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence. Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more busine...