This week we discuss several aspects of social media: how to use and abuse analytic tools, whether your CEO should have social media accounts, and understanding the differences between using social media as a “narrowcast” one-way medium vs. having actual interactions and conversations across various networks. We cite two different studies.
Domo and CEO.com released their annual CEO social media survey earlier this summer. They found that 40 of the Fortune 500 CEOs have a Facebook page, down from 57 two years ago. We don’t think the drop is necessarily a thing. Every corporate executive should have a solid account and profile on LinkedIn – and we suggest that CMOs should take some time to review those accounts to ensure that they reflect well on both the individual and the corporation – but engaging on social media creates an obligation to continue that engagement, and not all CEOs are comfortable with that idea.
We also examine a Forrester report from earlier this year. (PDF here) on how to measure social programs. The authors point out that many marketers say they haven’t been able to show the impact of social at all, and that it can be hard to pin down its actual impact. Marketers mistakenly expect social metrics to parallel digital performance channels rather than augment these channels help guide their efforts and add color or feedback at the appropriate places. If you expect social media to deliver an immediate boost to sales, you’re probably barking up the wrong tree.