As social leadership is an increased focus for global businesses, BusinessNext went in search of the top 25 CMOs in Fortune 100 Companies. In the end, they could only find 20 as only one in five CMOs on the Fortune 100 list are active in public social networks. I'd concur, though, that number is higher than previous years.
Despite The CMO Survey's recent projection of an 150% increase in social spending in marketing budgets over the next five years, the majority of the senior staff holding the purse strings are yet to establish a social footprint of their own. Is this an indication that they don't understand the space, or is it that they put their efforts in promoting the brands they work for instead of the brand of "me"?
As our business and personal lives shift toward a highly transparent and online focus, it is arguable that these unsocial CMOs will have a place at the table in five years time. As they move into new positions or look for new roles, there will be other highly experienced executives with a strong social background who will pique them to the post.
I've already seen colleagues in the print world who have been pushed out of jobs due to redundancy as companies downsize and close their doors and they are finding themselves no longer employable. Below are the top 20 CMOs in a breakdown of Twitter followers and a score created by BusinessNext. This weighted formula takes into account the number of Twitter followers, retweet frequency, social engagement frequency, social mentions, KRED scores, Klout scores, and related factors.
Do you think it's important for senior executives to rank high in social or do you think their strategic expertise will win over how often they tweet?