5 reasons CEO's hesitate to adopt social media

With so much talk about social media (especially in the PR/communications/branding industry), you might think every company is excited about it and actively participating.
Well, that’s still not the case.

According to the 2009 Business.com B2B social media benchmark study:
• Only 22% of B2C companies use social media to produce webinars or podcasts
• Only 36% of B2B companies use it for recruiting
• Only 55% of B2C companies host blogs
• Only 50% of B2B companies upload content to social networks
• Only 49% of B2C companies are using Twitter

While many not-for-profits, consumer-facing and B2B companies are all over social media, many remain laggards, hesitant to take the dip.

Why the fear, uncertainty and trepidation (or lack of belief in social media)? 

Here are the 5 most often heard misconceptions some CEO’s still have about social media: 

5. “It’s too time consuming” – Many companies are hesitant because they know it takes time – and talent – to do it right. Social media isn’t a start-stop thing; consistency is the key to ROI, proof and returns. The companies who hold this view typically don’t have the infrastructure to Tweet, blog, comment, refine and search. While it’s not a good idea to start writing a blog and then stop (leaving black holes for weeks or months), it may be – arguably – even worse to never begin at all because measurable opportunity is lost. The more companies experiment with social media and learn from it, the more corporate confidence will grow.

4. “It’s still early days” - YouTube just celebrated its 5 year anniversary. LinkedIn has been in widespread use since 2005. Blogs have been mainstream since 2004 and over 5 million are being created monthly. Despite this ample evidence, many companies have the misconception that social media is still emerging. They’re waiting for more … evidence. 

3. “Where’s the proof?” – Some executives of small- to mid-size companies look around their immediate ecosystem and draw wrong conclusions. Employees aren’t using social media for the business, but it’s because management isn’t advocating it. Traditional marketing campaigns may appear to be producing meaningful-enough results, but that’s because the superior measurement data generated by social media isn’t being generated. The CEO also isn’t feeling the heat from any … competitors.

2. “My competitors aren’t doing it” – Some companies compete in markets where nearly all the players parody each other. Differentiation is non-existent. Price is the only edge. Everyone sounds the same; they all co-opt each other’s messaging. Companies lead with feature-laden product discussions. There’s no brand personality. Everyone’s stuck, afraid to make a move in a new direction, worried about risking a misperception from … customers. 

1. “My customers don’t use it” – This is the most common refrain of all from CEO’s. “My customers aren’t on Facebook. They don’t buy products after watching YouTube videos. They don’t read blogs. So why should we use social media?” While this may be the reality, today, the truth is it’s another Catch-22: customers aren’t using social media because the companies they deal with aren’t using it. Social media is transformational: once companies start using it, their customers get engaged.  Individual voices come alive within a previously personality-free corporation and create brand personalities that yield competitive edge. You have to build the bridges first, then people cross over, communities get built and results follow.