Role of Social Media in B2B CEO Thought Leadership

Abstract

Thought leadership is a term that has been around for more than a decade. Little research has been done on exactly what thought leadership is or how to become a thought leader. Yet the business press is full or articles touting the importance of becoming a thought leader along with a variety of benefits. Additionally, social media has become an increasingly important part of any marketing strategy. This paper begins by developing a typology of business to business CEO social media presence, it clearly defines the three key attributes of a thought leader and concludes with identifying which attributes are the most important in CEO thought leadership. Chief Executive Officers (CEOs) are generally expected to represent the public face of the company, and their leadership is critical to success in product-service markets. Social media platforms offer CEOs the opportunity to benefit their companies by demonstrating leadership, communicating ideas, and motivating others, often with a personalized touch. Yet, many CEOs, particularly in business-to-business (B2B) firms, are relatively new to social media and do not have a clear social media strategy. A typology of B2B CEO social media presence was developed by utilizing cluster analysis to analyze a cross-section of B2B CEOs’ social media activity. Results shows that the Reluctants, constituting 74% of the sample, have little or no social media presence. Of CEOs with some social media presence, the main types are LinkedIn Leveragers who have a substantial LinkedIn presence only, and TweetStars, who are active only on Twitter. A CEO who is a thought leader is a business leader who communicates ideas in a way that motivates others to develop them and is recognized by others outside of their organization. Using the three attributes of thought leadership – communication, motivation of others, and public recognition, a survey was conducted to identify which of these attributes were the most important in increasing perceived thought leadership. Using choice based conjoint analysis to test the level of perceived thought leadership, public recognition followed closely by motivation were most important in contributing to perceived thought leadership. The typology developed in this paper leads to the development of a set of empirical propositions for future research. Insights gained from this analysis can help companies and their CEOs make informed decisions on their social media options and strategies. The identification of what attributes are most important to increase levels of perceived thought leadership lays the foundation for additional research. Recommendations offered in this paper can help companies and CEOs invest their resources in a marketing strategy appropriate to their goals.