9 Comments

  1. The problem is most CEOs have a broader picture of the organization than social media consultants. To a social media consultant, social media is the hammer and every possible problem is the nail.

    CEOs aren’t idiots, they’re pretty smart to get to that position in the first place. Sure, they make mistakes (like all of us) the difference is their mistakes are high profile.

    As for the share price, it was dropping rapidly way before this ‘outrage’. In fact, now it seems to be relatively stable.

    The truth is most social media crises have zero long-term impact upon the organization. Look them up for yourself. There are a few exceptions, for sure, but most simply don’t have any impact. They just give social media consultants something to talk about.

    Now, what this CEO said may not have been very clever. Yet this doesn’t support a conclusion that the CEO must be more involved in social media. Being a CEO is time intensive and social media is still a relatively small (and overrated) part of what an organisation does.

  2. The problem is most CEOs have a broader picture of the organization than social media consultants. To a social media consultant, social media is the hammer and every possible problem is the nail.

    CEOs aren’t idiots, they’re pretty smart to get to that position in the first place. Sure, they make mistakes (like all of us) the difference is their mistakes are high profile.

    As for the share price, it was dropping rapidly way before this ‘outrage’. In fact, now it seems to be relatively stable.

    The truth is most social media crises have zero long-term impact upon the organization. Look them up for yourself. There are a few exceptions, for sure, but most simply don’t have any impact. They just give social media consultants something to talk about.

    Now, what this CEO said may not have been very clever. Yet this doesn’t support a conclusion that the CEO must be more involved in social media. Being a CEO is time intensive and social media is still a relatively small (and overrated) part of what an organisation does.

    1. Hi Richard I agree up to a point. I’m pretty sure that if you take a broader picture of social media ( a term I hate, it’s so much more than media) you can see the impact on banking (p2p), on media (blogs), on retail (etsy) on every industry. Politically stability is threatened by #OccupyGezi or the London Riots or Arab Spring. To dismiss social media as irrelevant is dangerous, and less and less likely at the top C-Suite. To not use a direct to market channel, understand it and maximise it would definitely leave a CEO negligent, given ASIC rulings. Even J&J got caught out on a recall for not using social media. These things have to be understood at the top.
      I know that people cut up their Myers card. I know I haven’t shopped there since (I did walk in, then walked out and went to DJs which is honestly no better). I know it’s a minor thing. Until it’s major. Did you know that 16% of people swapped out their bank loans for community banking last Nov 5th? That’s a lot of money moving from traditional banks to community via #Occupy, in one day.
      Once companies stop using social media as a marketing spam tool and understand how it’s changing their industry, social enterprise will evolve. Otherwise I agree with you – give it to the intern. Until you can’t….

    2. Hi Richard I agree up to a point. I’m pretty sure that if you take a broader picture of social media ( a term I hate, it’s so much more than media) you can see the impact on banking (p2p), on media (blogs), on retail (etsy) on every industry. Politically stability is threatened by #OccupyGezi or the London Riots or Arab Spring. To dismiss social media as irrelevant is dangerous, and less and less likely at the top C-Suite. To not use a direct to market channel, understand it and maximise it would definitely leave a CEO negligent, given ASIC rulings. Even J&J got caught out on a recall for not using social media. These things have to be understood at the top.
      I know that people cut up their Myers card. I know I haven’t shopped there since (I did walk in, then walked out and went to DJs which is honestly no better). I know it’s a minor thing. Until it’s major. Did you know that 16% of people swapped out their bank loans for community banking last Nov 5th? That’s a lot of money moving from traditional banks to community via #Occupy, in one day.
      Once companies stop using social media as a marketing spam tool and understand how it’s changing their industry, social enterprise will evolve. Otherwise I agree with you – give it to the intern. Until you can’t….

  3. Totally agree with you that CEO should pay more attention to social media, however, only16% of them seems to care really surprised me.

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