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Top CEOs undervaluing social media: new study

A new study from Domo and has revealed that some of the world's top business leaders may not be utilising a strong social media strategy.

The 2012 Fortune 500 Social CEO Index sought to determine the extent to which the most successful chief executive officers are using social media to share original content and make connections online.

At the time of the survey, only 19 of the 498 CEOs in the Fortune 500 companies were registered for Twitter.

Alarmingly, only four of those accounts were Twitter-verified, while five of them had never even sent a tweet.

Amongst the most active CEOs on Twitter is Australian media mogul Rupert Murdoch, who has 294,892 followers at the time of writing.

Mr Murdoch appears to use his Twitter account mostly for sharing thoughts and feelings on current events.

"London Olympic opening surprisingly great, even if a little too politically correct. Danny Boyle a creative genius," he wrote on July 28.

"We have to do something about gun controls. Police license okay for hunting rifle or pistol for anyone without crim or pscho record. No more," reads another tweet sent on July 21, one day after the movie theatre shootings in Aurora, California.

Another high profile twittering CEO is Hewlett-Packard president Meg Whitman, who currently boasts 242,594 followers.

The report also suggested that business leaders are also underestimating the value of services like Facebook and LinkedIn. Those websites showed Fortune 500 CEO registration of just 7.6 per cent and 25.9 per cent, respectively.

Only six of the CEOs included in the study were recognised as contributing to company blogs.

The study concludes by arguing that CEOs should be more committed to social media, referencing a March 2012 study from Brandfog which found that 81 per cent of employees believe that social CEOs are better leaders.

"The results came as a surprise considering that social media sites like Facebook, Twitter and LinkedIn are part of the daily fabric of life," said Domo founder and CEO Josh James in a press release issued July 12.

"CEOs who use social media are growing their businesses, attracting lifelong customers, generating exposure for their companies and closing new deals. As consumers become more social savvy, so must company leaders. We expect to see CEOs getting more and more social in the near future."

Posted by Zak Wash