In my role as President of Sprout Social, I’m privileged to engage in discussions with top executives and marketing leaders from various brands and sectors on a daily basis. I gain valuable insights into their current views, hurdles, and feelings regarding social media and its integration into their broader business strategies.
Their stories provide deep insights into the present and future of marketing. I interact with brands across the spectrum—some are just embarking on social media management from original platforms, while others have experimented with social media management tools but encounter barriers preventing them from fully leveraging social capabilities. Some brands view social media as a crucial element that propels success across all channels and depend on social intelligence to guide their overall business plans.
Here are the key takeaways I’ve gathered about the social landscape from these senior leaders—including insights from C-suite executives who effectively utilize social media, alongside those who aspire for their brands to do more. Let’s delve into it.
C-suites often underestimate social’s rewards and exaggerate the risks
The prevalent concerns I encounter from executives regarding social media include: 1) fears that a brand crisis could become viral and uncontrollable and 2) anxiety about their inability to gather essential data and insights. Such apprehensions hinder brands from properly allocating resources and fully establishing their online presence—resulting in team fatigue, mediocre outcomes, and dissatisfied customers.
Numerous instances exist of brands that prioritize customer-centricity within their physical locations or customer service centers, yet they neglect to respond to mentions and direct messages in the public eye. Neglecting customers on social media—their preferred customer care channel—creates opportunities for competitors to take over and conveys a troubling message to both current and prospective customers. As cited in The Sprout Social Index™, 76% of consumers prioritize prompt responses from brands on social media, with another 70% expecting tailored replies.
Ironically, investing in social media makes it easier to avert the escalation of crises. Social media can accomplish what traditional surveys cannot: gathering real-time data. For instance, when the CEO of a large public company mentioned “efficiency” during an earnings call, some employees interpreted this as signaling impending layoffs. By utilizing Sprout, the firm was able to identify the origin of the surge in social discussions, assess sentiment, and swiftly halt the spread of misinformation within their organization.
Social data is invaluable even outside crisis situations. Performance metrics from social can reveal what resonates with your audience, the share of trending conversations you dominate, and your return on investment from social activities (including revenue impacts). Many leaders hesitant about fully embracing social media are often unaware of the multitude of unfiltered insights it provides.
Forward-thinking leaders aim for entire organizations to leverage social data
Some executives clearly understand the significance of social media for their company’s success. In a recent meeting with the CEO of a power tools firm, the primary concern regarding our platform was whether their entire organization could derive value. The CEO remarked, “We believe that Sprout has the necessary data and technology, but the most crucial aspect isn’t just enhancing our marketers. It’s empowering the rest of our organization.”
This leader was keen on ensuring that product managers could utilize social listening to discover what customers appreciate about their products and how they desire improvements. They wanted their sales team to be equipped with competitor insights to refine their pitches and ultimately secure more shelf space by highlighting the right differentiators.
This exemplifies a shift in mindset I observe among today’s most accomplished leaders. They are cultivating social-first cultures and leading with social insights. According to The 2023 State of Social Media Report, 95% of business leaders concur that companies must increasingly depend on social media data and insights for business decisions beyond marketing, yet 69% indicate that social data is underutilized.
Establishing a culture that prioritizes social media is the essential factor in determining a company’s ability to maximize social potential, irrespective of the industry. Among our 30,000+ customers, even leaders in transportation, government, higher education, and healthcare find success with a company-wide approach to social media. This is often achieved through the establishment of social media centers of excellence to ensure social has a vital role in crafting—not just implementing—strategy.
AI is a top concern in boardrooms
In the current economic environment, executives are prioritizing new tools that not only save time—but provide even more concrete benefits. When a prominent media company’s call center executive learned that they needed to reduce costs by 40%, they were enthusiastic about exploring AI solutions to streamline expensive manual tasks while delivering enhanced value without additional resources.
They are not alone. Many social teams lacking budget or staff report being overwhelmed by manual tasks. The Social Media Productivity Report indicated that 63% of social media marketers believe manual tasks hinder their ability to engage in high-impact work. The right social media management tools can give marketers precious time back. The same report found that individuals utilizing dedicated social media management tools are nearly twice as likely to report sufficient time to accomplish their tasks compared to those without specific tools.
The majority of executives I converse with do not have a distinct vision for how they need AI. They simply recognize the necessity to save money and time. They seek ways to integrate AI into their current workflows without expensive reconfigurations and retraining. They desire a partner with a defined perspective on what the future of AI entails.
When uncertain, follow your customers
Overall, I observe a critical divide among C-suite executives regarding social media. Some are reluctant, apprehensive about crises and data issues, while others fully embrace social media as a crucial tool for growth and organizational insights.
Those who adopt a social-first methodology not only effectively minimize risks but also empower their teams to innovate and connect with customers meaningfully. As we progress through the changing paradigm of AI and customer interaction, it’s evident that embracing social media data is not merely a trend—it’s a crucial strategic necessity for future business prosperity.
If I were to offer advice to fellow executives, it would be this: Assess where your current and future customers congregate. Few businesses can claim this is absent from social media. If your business is among them, how do you intend to engage with them?
Interested in learning how to select a social media management platform that enhances revenue, improves team efficiency, enables strategic focus, and outperforms your competitors? Check the Social Media Management Buyer’s Guide.
The article From the desk of the President: What I’ve learned about social from sitting down with C-suite execs first appeared on Sprout Social.
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