Ways a CEO Can Utilise the Power of Social Media

Social Media has evidently reached its tipping point as an effective marketing tool. Popular social media sites like Facebook, YouTube and Twitter now boast millions of active members. No wonder more and more companies are starting to become particularly visible on these major sites and have embraced social media marketing as part of their business strategy.

Although many top executives either view social media as a time-consuming distraction or regard it as a potential risk management problem, social media is a great way to establish a customer-oriented company and of course, generate more revenue.

To make this happen, here are some tips on how an CEO can utilise the power of social media:

Get inspiration and learn from the best – There are plenty of CEOs who have founded their brands and succeeded with the use of social media—John Olilly of Mozilla, and Jay Andelson of Digg are just some of the famous executives who tapped the potential of social media. Another great example is e.l.f. cosmetics company, which concentrated on social media interaction to build their brand and avoided traditional marketing methods and yet found success in the consumer world.

Take advantage of microblogging platforms, such as Twitter – This is especially true for the hectic executive. As Twitter is only limited to 140 characters per update, CEOs can simply post brief thoughts and comments related to their brands. It is as well perfect for CEOs who are always on the run meeting with people and who have some useful opinions on their industry. CEO of Zappos, Tony Hseih, has proven that sending tweets regularly to interact with employees and customers is highly effective. In fact, Zappos has now reaped thousands of followers on Twitter. And in 2009, it was ranked #23 by Fortune as one of the best companies to work for.
Post videos via YouTube – For most customers, prospects, media, and even employees, CEOs can often seem too elusive, elite, and hard to reach. But by regularly posting video clips, an executive can go a long way developing stronger relationships. Have a YouTube channel wherein your business can feature interesting updates about the company, such as events or new product release, or perhaps about the CEO’s job and even personal interests.

Employ social media to discover more – Whether Facebook, MySpace, YouTube, and other social media tools, CEOs can use these methods not only to communicate but also to learn from customers, employees, suppliers, and the public. Several companies spend huge amounts of money trying to determine what people think of them. Connecting into the blogosphere or reading feedback on Twitter definitely presents a more useful and cost-effective technique of discovering how to approach customers’ needs and wants.

More than discovery, social media allows CEOs to prompt action and become a more efficient leader. Social media tools like blogs and podcasts positions an executive in more direct communication with staff, eliminating middle managers who can discourage direct contact. A convincing CEO can utilise social media to boost confidence, promote creativity and increase the importance of open collaboration.