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36% of CEOs Ignore Company’s Social Media Reputation For Important Business Decisions

Thirty Six Percent of CEOs Ignore Company's Social Media Reputation For Important Business Decisions

In December 2012, Zeno Digital readiness survey found out that 36% of CEOs ignore their company’s social media reputation when making important business decisions.

Thirty Six Percent of CEOs Ignore Company's Social Media Reputation For Important Business DecisionsIn fact, more than a third of them say that the CEOs care less if not totally about the company’s reputation online.

While most firms would take action to engage with online audiences, at least 10% would not address a damaging social media post or article.

The online survey polled 300 US corporate. The survey revealed a stark difference between B2B and B2C (business-to-consumer) companies not only in their executive attitudes toward social media, but also their response to online challenges.

The findings suggest that social media is a corporate reputation blind spot. According to Mark Shadle, Zeno’s Corporate Practice managing director, companies that will continue to dismiss it are putting their reputations at risk.

Key Stats

  •  70% of B2C CEOs consider social media sometimes if no always as a factor in decision making while only 57% of B2B do so. This means that 43% of B2B CEOs ignores their company’s online reputation compares to the 30% of the B2C sector.
  • 63% of B2C executives believe their firms can respond to a negative online post within 24 hours while only 45% of B2B executives can do so.
  • 13% of B2B executives are not likely to engage an audience online to defend their reputation compared to the 6 executives of B2C companies
  • 71% of larger firms are likely to consider their social media reputation than the 55% of smaller firms. 45% of smaller firms rarely or never consider social media reputation in decision-making, only 29% of larger firms do so. 63% of larger firms could react within 24 hours to a damaging issue online, only 24% on smaller firms.
Mark Shadle, Zeno Group’s Managing Director of Corporate Practice“Given the explosive growth of today’s digital platforms, the Zeno Digital Readiness Survey shows a much larger percentage of companies than one would expect turning a blind eye to valuable customer views and insights.”

Source: sacbee.com

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Written by Christophe Langlois

Based in London, Christophe is an entertaining social media keynote speaker and a trusted advisor to the global financial services industry on the topics of social media, social business and digital innovation.

Christophe has contributed to over 140 events in 18 countries.

Currently, Christophe is 'Social Media Senior Managing Consultant' at IBM Interactive Experience. He's also a Digital Advisor at the Financial Services Forum and the Moller Centre (part of the Churchill College in Cambridge).

Christophe's views on VisibleBanking.com are his own, not necessarily his employer's.

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