Is Your CEO On Social Media? If Not, Your Business May Be At Risk.

Is Your CEO On Social Media? If Not, Your Business May Be At Risk.

60% of Fortune 500 CEOs aren’t active on social media at all.

Roughly 60 percent of Fortune 500 CEOs are not active on any social media channel and fewer than 12 percent are active on more than one channel.

That’s surprising, especially given consumers’ overwhelming desire for transparency from businesses and business owners. Consistent headlines about data breaches and privacy concerns are surely to blame, leading 86% of Americans to say business transparency is more important today than ever before.

It’s no longer safe for businesses to stay silent on their values, business decisions, and political and social stances. Younger buyers, especially, are using digital transparency as a measuring stick to identify the companies they want to purchase from — and those they don’t.

That helps explain why an industry leader like Nike felt compelled to launch an advertising campaign with an athlete is polarizing as Colin Kaepernick. It’s simply a good business decision: some 86 percent of people are likely to take their business to a competitor when there’s a lack of transparency on social. (In fact, Nike’s sales surged in the days following the Kaepernick ad debut, suggesting that Nike’s competitors may be suffering from this very affliction.)

CEOs are in a uniquely appropriate position to answer the consumer cry for business transparency on social media. Not only can they can speak to the rationale behind business decisions and give a compelling behind-the-scenes perspective, they can also share insights on industry trends that inspire consumer trust and interest.