Why execs should embrace social media, part 1: Relationship Capital

Social media? Why bother?
Social media for savvy executives

There aren’t many executives that can confidently claim to be getting the best out of social media. In fact most execs live with the guilty knowledge that they should definitely be doing more… (Board Dynamics are starting to pick this concern up at governance level)

But why?  More to the point… What are some of the reasons to invest in social media and how compelling are they for you?

We’ve been grappling with this topic at syENGAGE and have come up with a few answers to share. However we’d also love to hear what you think too so please feel free to comment or discuss it. We’ll be listening 😀

Reason #1 of 3) To proactively enhance your Relationship Capital

As management culture continues to become increasingly collaborative and participative, executives are under pressure to demonstrate their value beyond skills and capabilities. Many new executives are using Relationship Capital to demonstrate their ability to create value through leveraging relationships.

Measuring this attribute independently is getting easier with the advent of social media platforms such as LinkedIn and visible.me.  For example, the popularity of these platforms make it easier to check a person’s relationships, work history, education and capabilities. 

Those who have adopted a habit of continuously developing their online presence will accumulate relationship capital. That is, more evidence that they have contributed to the greater community. 

Here are a few metrics that may become important:

  •   No. of relationships registered on LinkedIn
  •   No. of recommendations or endorsements
  •   Overall career track record
  •   Level of online engagement
  •   No. Comments made on blogs, status updates etc. 
  •   No. of blogs written
  •   No. of trades completed online ( e.g. eBay.com or TradeMe.co.nz)
  •   No. of failed trades or complaints 
  •   Reputation scores (e.g. klout.com)

The future might even include aspects of these relationship metrics in your financial credit worthiness profile.  Contemporary executives would be well advised to take charge of their online presence sooner rather than later and adopt a routine of constantly updating it and contributing to the wider community.

Do you see relationship capital playing a part in your life?  If so, how?

In the next blog we’ll explore Reason #2:  Increase your Situational Awareness

One thought on “Why execs should embrace social media, part 1: Relationship Capital

  • Colart

    Here’s an example of the type of credibility issues you can run into… Alicia Keys, as the newly appointed creative director of Blackberry, is embroiled in a scandal involving her use of Twitter and her iPhone… ooops… then she claimed that her account got hacked 😛 http://on.mash.to/VVMOb7

    Reply

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