The number of CEOs actively engaging on social media has doubled over the past two years, with over 55% of FTSE 100 CEOs now posting actively on LinkedIn, according to a 2023 report by FTI Consulting.
Leadership communication plays a critical role in building and protecting the overall reputation of a business. And engagement rates for business leader content is now more than double those of company channels.
- Leadership content generates x3 more comments than Company LinkedIn pages
- Leadership content generates x2 the number of engagements compared to company LinkedIn pages
CEO SOCIAL MEDIA STRATEGY
Far from an active CEO ‘crowding out’ the rest of their leadership team and business, the report reveals that having active leaders on social media across the executive team raises the overall impact for the whole team.
And this is being reflected in firms large and small, with senior business leaders – from CFOs to CMOs, and COOs, taking to social media in increasing numbers.
It’s perhaps no surprise that former BP CEO, Bernard Looney led the rankings for FTSE 100 firms. The report ranks the most impactful FTSE 100 executives using the FTI Digital Impact Score model, with success being driven by a CEO’s passion and commitment to creating quality content that drives conversation with their followers.
Looney’s LinkedIn engagement had been prolific since he first became CEO in 2020 and his sudden departure in September 2023 only served to underline the findings in the report. 92% of professionals say that they are more likely to trust a company whose senior executives are using social media for professional communications, but to maintain this trust when individuals depart, businesses must ensure that they are building the profile of the full leadership bench – and their potential successors.
Developing a digital voice and strong presence on social media is increasingly important, not just for CEOs, but also for aspiring CEOs who need to ‘walk the walk’ in advance of promotion.
THE IMPORTANCE OF LINKED IN
With a dwindling number of executives actively engaging on X (formerly Twitter), and few using other channels like Instagram, Facebook, TikTok and Threads in a professional capacity, the focus is on LinkedIn – the primary channel for digital leadership communications.
- 92% of professionals say they are more likely to trust a company whose senior executives are using social media.
- 75% of professionals and 82% of investors expect business leaders to take a stand on issues of importance for businesses and society at large
FURTHER READING: Could Linked In be the powerful marketing tool you’re missing out on?
DEVELOP A LINKED IN STRATEGY
The report highlights 5 key findings…
- LinkedIn is critical for building trust between business leaders and corporate audiences. Stakeholders expect business leaders to use social media to build meaningful relationships with them.
- Companies activating a broad range of leaders are unlocking the greatest business impact. Real impact on social media is only achieved through a variety of active senior voices.
- CEOs drive the greatest impact, but they can no longer do it alone. An active CEO paves the way for an active executive team which will drive greater impact for larger organisations.
- Sectors prioritising social leadership drive greater impact and engagement with stakeholders. Leaders in the Energy sector, and those newly appointed to the executive committee, are generating the greatest impact on LinkedIn.
- Greater planning = greater digital impact. Companies with the greatest impact are planning for success with defined strategies and dedicated resources for individual leaders.
But while most leaders have a social presence, many are still not active.
- 87% of FTSE 100 executive committee members have a LinkedIn presence but just over half of these (54%) are actively posting, so a huge missed opportunity.
“Long gone are the days where social media impact could be achieved by company channels alone,” says Andrew Williams Senior Managing Director, FTI Consulting. “While these channels remain a critical corporate communications and stakeholder engagement tool, it’s clear that business leader engagement online can further broaden and deepen reach and impact. Success for companies and leaders alike, requires tailored and cohesive strategies, significant resources and a critical mass of engagement,” he adds.
CEO SOCIAL MEDIA BEST PRACTISES
“Sustained engagement over time builds better, more trusted relationships with stakeholders and the only way to achieve this is to constantly review and refresh your approach to social to stay relevant with your audiences,” advises Damian Low, senior director at FTI Consulting.
And the individuals and leadership teams that are driving the most impact online have bespoke strategies, ongoing commitment, and significant resources underpinning their engagement.
5 WAYS TO GROW YOUR CEO SOCIAL MEDIA PROFILE
- THOUGHT LEADERSHIP – as the CEO you need to be positioned as a thought leader in your industry. This can be done by sharing original articles, insights, opinions, and analysis on relevant topics. You can share content that aligns with your interests as a CEO and the company’s mission, as well as highlighting business achievements, milestones, and innovations to showcase the company values and culture.
- PERSONAL BRANDING – developing and maintaining a strong personal brand as a CEO is crucial in today’s business world. This includes simple things such as a professional headshot, a well-crafted bio, and a clear value proposition, ensuring that your personal brand aligns with the company’s overall brand and values. However, to really resonate and grow your profile, more and more successful business leaders are now moving into other content formats, such as newsletters and podcast hosting, to speak to their clients and customers on a much deeper, more connected level.
- STAY INFORMED & SHARE TRENDS – keeping abreast of industry trends and sharing timely, relevant information should be used as part of your strategy, to showcase expertise and leadership in your field. Offering insights into how emerging trends could impact the industry and your followers, or taking a big news story from the week and breaking it down in terms of what it means for your followers or the wider industry is another great way to establish yourself as a thought leader.
- ENGAGING WITH YOUR AUDIENCE – responding to comments, messages, and mentions as soon as possible is a good way to develop wider relationships and in turn build trust in your personal brand. Commenting on posts from like-minded professionals or businesses that align with your interests/passions, as well as fostering discussions and connections, by asking questions and encouraging feedback from followers, is a great start.
- CONSISTENCY & REGULAR POSTING – as the data reveals, many CEOs are missing a trick by not posting regularly. Business leaders need to maintain a consistent posting schedule to keep audiences engaged. You can experiment with different types of content and formats (e.g. videos, infographics, live streams..etc), to see which resonates the most, as well as different times of the day for posting, but regularity and consistency will help ensure you’re being kept front of your mind.
Keep up-to-date with the latest business news and analysis on how social media and wider technology trends can impact your business over on Matt Haycox Daily.
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