20:20MSL is a part of the MSL group which has released a report called The C-Suite Guide to Social Media Adoption. This report highlights the influential use of Social Media among C level executives and CXOs to keep their audiences engaged with industry insights, business expansion and thought leadership in their fields of expertise.
The document highlights current patterns of Social Media usage among Indian CXOs, apprehensions arising in connection with Social Media exposure and the opportunities that social networking platforms hold for them.
This report has been created keeping in mind the proactive use of social media, and the factors that C level executives need to adapt to today to augment their personal and professional growth. Social Media is becoming increasingly important by the day and CXOs need to acclimatize themselves to this evolving trend.
58 million internet users or 72% of the 80 million surveyed in India are using Social Media, and a set of new age tools and multi-device applications. Another trend that has emerged, according to this report, is the proliferation of social networking activities through applications adapted to mobile phones, ipads, kindles and tablets.
Not many Indian CXOs are on social platforms. Some of the prominent adopters however are Anand Mahindra (Chairman and MD, Mahindra & Mahindra), Vineet Nayyar (Chairman of UB Group) and Amitabh Kant (CEO, DMIC).
Other founder CEOs who regularly use Social Media are Ankur Warikoo (CEO, Groupon India) and Sachin Bansal (CEO, Flipkart).
For representatives of consumer products, the expected opportunity benefits and the engagement scope are far higher, making their participation more important in re-positioning their brands as distinctive creations that appeal to new age, tech savvy customers.
Platforms in Use
Facebook, LinkedIn and Twitter have become the most commonly used platforms for top level officials. LinkedIn has 20 million members and Facebook consists of 82 million from India.
As Social Media platforms have no defined parameters, many CXOs are apprehensive about the pitfalls of being in the public domain. However some of the major apprehensions include:
- Fear of PR missteps while engaging with Social Media.
- Time constraints and lack of awareness.
- Compliance Issues.
The Social Media universe brings forth multiple opportunities in the form of thought leadership capabilities, identification of diverse talent, a stronger audience connect and unparalleled professional advancement through collaborative engagements. Other opportunities include:
- Building a broad professional network.
- Showcasing thought leadership.
- Talent acquisition.
- Innovation and Collaboration.
- Building Employee Connect.
The report lists some ready-reckoner for engaging on Social Media.
- Include Social Media in the daily CXO business diet.
- Reverse Mentoring.
- Using Twitter and Blogs.
- Adding a personal touch.
- Making your presence felt.
In a world that is fast transforming into a web of hyper connectivity, CXOs are leveraging the perks of an expanding social media universe, keeping their audiences engaged with business developments, industry insights and thought leadership in their fields of expertise. This was the insight that went into the making of this point of view document.