INC. 500 CEOs Slaughter Fortune 500© CEOs In Social Media Usage
79 percent of Inc. 500 CEOs have a social media presence, while 70 percent of Fortune 500 CEOs are completely absent on social media.
SILICON SLOPES, Utah– December 11, 2012 – CEOs at Inc. 500 companies are significantly more active on social media channels than their FORTUNE 500© counterparts, according to a new study conducted by Domo and CEO.com, an online resource that lets busy executives stay up to date on the latest news and best practices in business management.
The 2012 Social CEO Showdown, which was created to compare and contrast the social media habits of CEOs from the Inc. 500 and the Fortune 500, revealed that Inc. 500 CEOs are 13 times more likely to be active on Twitter than CEOs at America’s largest companies. Inc. 500 CEOs are also 5.3 times more likely to be on Facebook, 3 times more likely to be on LinkedIn, 15 times more likely to be on Google Plus, and 4.8 times more likely to blog.
All told, 79 percent of Inc. 500 CEOs have a social presence on at least one network. By comparison, 30 percent of Fortune 500 CEOs have a social media presence.
However, in terms of Klout scores, which measure the influence of individuals based on various social media data points, CEOs at the largest companies rank 28.5 percent higher than their fast-growth counterparts. Similarly, Fortune 500 CEOs who are on Twitter have more than 4 times the number of followers than Inc. 500 CEOs. These findings suggest that CEOs of America’s largest companies still have enormous power in the social world, but are not doing enough to take advantage of their position.
“We already assumed CEOs at small, fast-growth companies put more stock in social media than CEOs of large multinational corporations — what we didn’t know was how overwhelming the difference would be,” said Josh James, founder and CEO of Domo. “CEOs at large corporations are missing out on a tremendous opportunity. In today’s hyper-connected world, CEOs who embrace social media will be the ones who create the most value for their organizations and lead their companies to even greater heights. In that respect, the future looks brightest for the CEOs of the Inc. 500.”
Notable findings from the Study:
- 121 Inc. 500 CEOs (29.1%) have registered for Twitter, compared with 19 Fortune 500 CEOs (3.8%).
- 168 Inc. 500 CEOs (40.4%) are on Facebook, compared with just 38 Fortune 500 CEOs (7.6%).
- 323 Inc. 500 CEOs (77.6%) have LinkedIn profiles, versus 129 Fortune 500 CEOs (26%) with LinkedIn profiles.
- Fortune 500 CEOs have an average Klout score of 59, while Inc. 500 CEOs have an average score of 46.
- 4 Fortune 500 CEOs (.8%) are on Google Plus, compared to 50 Inc. 500 CEOs (12%)
- 6 Inc. 500 CEOs have Pinterest accounts, while 0 Fortune 500 CEOs are on Pinterest.
- 7 Inc. 500 CEOs maintain their own blogs, while only 1 Fortune 500 CEO maintains own blog.
About the Survey
Over the course of several months in the summer of 2012, CEO.com searched for every Inc. 500 and Fortune 500 CEO on each of the major social networks. Given the large number of phony accounts on social networks, CEO.com’s criteria for verifying the legitimacy of these accounts included the following:
- Accurate profile descriptions
- Relevant and believable content and posts
- Decent quality (or number) of followers
- Accounts maintained on behalf of the CEO and not fans
When Josh James was CEO of Omniture, he was always looking for stories and inspiration that would help him become a more effective leader. He wanted a resource to help him and other executives stay up to date with what's happening at the C-level across top industries. He started CEO.com to be that resource. CEO.com delivers the latest news and best practices in business management all in one place. CEO.com is sponsored by Domo.
Domo is a cloud-based executive management platform that redefines the business intelligence (BI) market and transforms the way business is managed. Domo gives users direct, real-time access to all the business information they care about, all in one place.
With $63 million in funding, Domo is backed by an all-star list of angels and investors including Benchmark Capital, Andreessen Horowitz, IVP, Ron Conway and David Lee of SV Angel, Hummer Winblad, plus the who’s who of SaaS and Internet technology.
Domo’s founding team consists of some of the most sought after talent in the industry with experience that includes Amazon, American Express, Ancestry.com, eBay, Endeca, Facebook, Google, Linkedin, MLB.com, Omniture, Salesforce.com and SAP.
Companies wanting to sign up for a demo and see how Domo can help transform the way they manage their business can do so at domo.com.
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Julie Kehoe, VP of Communications