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CEOs Are Not Drinking The Social Media Kool-Aid, Yet November 17, 2008

Posted by Stephens in Uncategorized.
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As much as CEOs want to have presence on social media sites, less than half believe it can change sales.
clipped from www.businessweek.com

Many CEOs use social media sites like Facebook, MySpace, YouTube and Twitter personally, but few use them to communicate with stakeholders. And while 29% say social media can be a very or extremely effective way for companies to communicate, just as many find it ineffective. These are some of the findings of a September survey of 200 chief executives by public relations firm Burson-Marsteller and PRWeek.

So while CEOs are on these sites a lot (43% of the CEOs said they are on them often, including 19% who visit daily) it’s not for business. Only 18% say they use them to communicate with customers and other stakeholders.

Why not?
48% say they lack relevance to the target stakeholder groups
37% voice concern about losing control of their message
28% worry about return on the investment
and
23% blame a lack of knowledge and capability within the company

Another reason may be that they’re not convinced of the payoff.