In my last posting for the Powerlinx Blog, I explored the topic of whether or not businesses should be social. In doing so I asked, what benefits could be derived from joining and actively participating in the social sphere?  Common answers included: increased customer awareness, interaction and aggregation. Another was enhanced brand positioning. 

In essence, the possibilities are as endless as you, the business owner, are creative. So now, I pose you a question: are you as a business leader, maximizing the value of online interaction and networking?

What’s the opportunity cost regarding social for CEO’s?

Of course, if you ask any business owner that question, you will probably get the generic excuses: I don’t have the time; I don’t like all the “noise;” I want to protect my privacy, or (on occasion) I don’t understand it. But here’s another way to think about this question: what is your opportunity cost of not being online?  What could you be potentially missing out on by not allowing yourself that social connectivity? (Please bear in mind that I refer to you as the business owner, not as an individual with an inclination towards tweeting!).

At Powerlinx, we are of a mind that each business leader should make it a priority, or at least an important part of their day, to go online to discover what opportunities are out there for their business, to spark conversations, and to participate with the rest of the world in developing this interconnected web of idea and business exchange.

Verdict: Social for CEO’s is vital to improve your business.

As famed business leader, serial entrepreneur and social media user extraordinaire Richard Branson has noted in a wonderful LinkedIn posting, “when you get to the very top of companies, there is a surprising lethargy about using the online tools already available: social media. Embracing social media isn’t just a bit of fun, it is a vital way to communicate, keep your ear to the ground and improve your business.”

So, clearly a ringing endorsement for social for CEO’s from one of its most notable users.  To re-assert this social mindset, just yesterday another article was posted on LinkedIn pushing CEO’s to move to social. As my co-worker and desk mate observed, apparently I’m on to something! According to Dave K. of Likeable Local, “CEOs can use social media to listen to their customers, competitors, competitors’ customers, and employees. They can discover new products, new markets, and new opportunities. Once they start talking, they can tell their story – provide thought leadership, and attract new partners, vendors, talent and customers.” If this hasn’t completely convinced you to join the online social sphere, it has hopefully started the spark of some new, exciting ideas!

In my next posting, follow along as I explore the topic further, in seeing how effective social for CEO’s is and is being utilized to their companies’ best advantage. (Spoiler alert: Today, approximately only 16% of CEO’s are currently participating in some form of social media.)

Until then… happy sharing!