IBM’s recent 2012 Global CEO Study, however, shows that while some CEOs may be slow to use social media (both for themselves and their businesses), they recognize that not only is social media here—but it’s poised to become a driving force in communications, sales and other areas within the next few years.
Consider these highlights:
- 16% of CEOs say they use social media today as a top way to engage with customers. And they expect their use of social media to more than triple in the next five years.
- CEOs believe that social media will become one of the top two ways to engage customers within five years, an evolution that will likely come at the expense of traditional media.
- Views on social media vary depending on the industry. CEOs in education (77 percent), telecommunications (73 percent) and retail (72 percent) expect social media to be a key channel for customer engagement, compared with only 34 percent in industrial products, 51 percent in insurance and 52 percent in electronics.
The study not only contains a number of interesting facts and charts—it also provides insight and analysis from CEOs on a number of topics, including employee empowerment, customer engagement, innovation amplification and, of course, social media.
“From 1995 to 2000, the web went from something only some people used to something almost everyone used to conduct business,” says a U.S. financial markets industry CEO. “I view social media in the same way—we’re approaching the stage when almost everyone will have to figure out how to use it to conduct business successfully.”
No matter what industry you’re in, this study is a fascinating read—consider this a kick in the rear to head over and download it now.
And once you do, come back and tell me what you think. If you are a CEO or interact with them on a regular basis, do your own experiences mimic or contradict what IBM found?
Image by Pen Waggener via Creative Commons