the 35 quarterly c-suite survey final report presentation... · 2019. 3. 28. · 2 introduction...
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The 35th Quarterly C-Suite Survey
Final Report
June 24, 2014
Sponsored by:
Published and broadcast by:
2222
Introduction
This is the 35th edition of the C-Suite Quarterly Survey, conducted onbehalf of KPMG; published and broadcast by The Globe and Mail’sReport on Business and BNN.
Previous quarters’ surveys are available at GandalfGroup.ca .
This quarter’s survey included questions about:
Company’s Use of Social Media & Online Strategies
Transitioning to Online Media from Traditional Media
Executives’ Personal Use of Social Media
The Outlook for the Economy
Methodology: telephone interviews with 129 C-Suite executives fromROB1000 companies between June 4th and June 24th, 2014.
3333
A Substantial Number of Companies Are Active in Social Media,
But Many Are Unenthusiastic
Many companies are active in social media with official corporateaccounts Facebook or Twitter.
51% of companies have a Twitter account; 43% on Facebook; 40% onLinkedIn.
Two thirds of service sector companies have a Twitter account and most havea Facebook account.
47% said it plays a very or somewhat important role in their communicationsand marketing.
But enthusiasm for social media is limited.
Only 23% said it substantially changes how they market or communicates.
The importance placed on social media is much lower outside of the servicessector: e.g. resources companies are far less interested in the usefulness ofsocial media. The result is that larger companies (i.e. large employers) aremore engaged than many mid-sized or smaller employers.
4444
What Social Networking & Online Services Are Companies Using?
51
45
43
43
40
36
30
21
0 50 100
Have an official company Twitter account
Use website visitor tracking using cookies
Use search engine optimization
Have an official company Facebook account
Have an official company LinkedIn page
Use paid online advertising
Use Google analytics to track market trends
Have an official blog
Yes
Please tell me with a yes or no answer which of the following online services your company takes advantage of. Does your company:….? (% saying their company uses each)
5555
Service Sector Companies:Social Networking & Online Services
67
60
60
56
52
50
42
29
0 50 100
Have an official company Twitter account
Use search engine optimization
Have an official company Facebook account
Use paid online advertising
Have an official company LinkedIn page
Use website visitor tracking using cookies
Use Google analytics to track market trends
Have an official blog
Yes
Please tell me with a yes or no answer which of the following online services your company takes advantage of. Does your company:….? (% saying their company uses each) Service Sector Only
6666
Is Social Media Necessary & How Beneficial Is It?
23
28
5
41
18
13
40
36
4
32
39
32
30
27
41
30
42
17
44
33
61
30
55
47
28
21
79
0 20 40 60 80 100
Total
Manufacturing
Resources
Service
1-200 employees
201-1000
1000+ employees
Those with corp. social media accounts
Those without corp. social media accounts
Social media substantially changes how we communicate and market
A social media presence is required to do business, but mostly doesn’t change how we communicate and marketIt isn’t necessary to have a social media presence
Which of the following three statements is the most applicable to your company?(% saying each)
7777
Importance of Social Media To Companies
9
6
5
15
6
6
13
6
11
25
38
33
26
52
29
38
55
32
46
38
30
39
30
28
29
31
30
36
22
25
22
22
39
6
35
25
3
26
20
13
0 20 40 60 80 100
Total
Manufacturing
Resources
Service
1-200 employees
201-1000
1000+ employees
West
Ontario
Qc/Atl
A very important roleSomewhat importantNot very importantNo role or place in your co.'s communications
How important a role does social media have in your company’s communications? Is it:(% saying each)
8888
Importance of Social Media to Different Sectors
27
22
12
44
26
33
21
30
31
39
37
22
15
6
28
4
1
2
0 20 40 60 80 100
Total
Manufacturing
Resources
Service
Very important Somewhat important Not very importantNot at all important Don't know
How important is it for businesses in your sector to have a corporate presence on social-media networks? Very important, somewhat important, not very important or not at all important? (% saying each)
9999
Services Companies Are Most Engaged, Others Unenthusiastic, Concerned About Risk
There is a divide between companies about the usefulness of socialmedia. Many are engaged, some are very enthusiastic. Yet, close to halfsee little role for it or benefit from it.
Just over half believe social media’s value to businesses is overrated. Youngerexecutives were not less likely to say this.
53% of those using social media said it’s not helping their bottom line.
However 55% intends to increase their social media initiatives: these are again mostlylarger employers and those in the services sector.
Many – 51% – admit they know little about the benefits of social mediato businesses.
Most know a cost-effective communications & marketing tool.
But even more believe it presents a reputational risk for companies.
75% agreed with this - it is the one thing that executives were certain aboutwhen it comes to social media.
10101010
Social Media’s Pros & Cons
32
22
16
13
25
10
43
41
40
43
30
41
13
13
22
23
24
26
2
9
14
13
16
21
10
15
8
7
5
3
0 50 100
Social media opens up reputational risks forcompanies like mine
Social media is one of the most cost-effectivecomm's & marketing tools for companies
Social media is one of the most effective comm's& marketing tools for companies
The benefit of social media for business isexaggerated
Our company is going to devote more resourcesto social media in the future
I don’t understand enough of the benefits online & social media could have for our company
Strongly agree Somewhat agree Somewhat disagreeStrongly disagree Don't know
Please tell me if you strongly agree, somewhat agree, somewhat disagree or strongly disagree with the following statements:(% saying each)
11111111
Social Media’s Pros & Cons
17 36 25 18 4
0 20 40 60 80 100
Social media is part of our company's
communications but it doesn’t
help our bottom line
Strongly agree Somewhat agree Somewhat disagreeStrongly disagree Don't know
Please tell me if you strongly agree, somewhat agree, somewhat disagree or strongly disagree with the following statements:(% saying each) Only Among Those with Social Media Accounts
12121212
Social Media’s Pros & Cons
25
17
12
41
18
19
43
10
30
33
23
37
31
34
28
25
24
33
32
13
25
28
18
35
16
11
28
6
24
16
8
29
5
6
5
4
2
3
5
2
0 20 40 60 80 100
Total
Manufacturing
Resources
Services
1-200 Employees
201-1000
1000+
Those without socialmedia accounts
Strongly agree Somewhat agree Somewhat disagreeStrongly disagree Don't know
Please tell me if you strongly agree, somewhat agree, somewhat disagree or strongly disagree with the following statements:(% saying each)
“Our company is going to devote more resources to social media in the future”
13131313
Social Media’s Pros & Cons
13
17
11
13
17
19
6
43
50
40
49
50
53
30
23
8
28
21
6
11
43
13
21
15
10
17
12
13
7
4
6
8
11
6
9
0 20 40 60 80 100
Total
<45 years old
45-54
55+
Manufacturing
Resources
Service
Strongly agree Somewhat agree Somewhat disagreeStrongly disagree Don't know
Please tell me if you strongly agree, somewhat agree, somewhat disagree or strongly disagree with the following statements:(% saying each)
“The benefit of social media for business is exaggerated”
14141414
Social Media Supports Cos. Brands, PR,But Helpful For HR & Networking
Most of the C-Suite believes social media helps companies with:
professional search
networking
vetting job applicants
their corporate brand
• Service sector firms, and those with social media accounts were somewhat more likely to saysocial media helps with brand and public relations than they were to say it helps with HRmatters.
Fewer believe it is helpful for following business news, investorrelations or media relations.
An additional benefit is the ability to target very specific audiences.
15151515
Importance of Corporate Presence on Social Media
22
16
16
16
14
13
13
12
12
10
9
42
47
40
40
34
26
49
32
29
43
40
33
33
40
42
50
57
33
52
53
43
47
4
5
4
4
3
4
4
4
5
4
4
0 50 100
Recruiting and professional search
Company profile or brand
Vetting job applicants
Public relations
Following business news
Following equity markets and investment news
Networking and professional development
Investor relations
Media relations
Corporate reputation
Marketing and Sales
Yes, greatly Yes, somewhat No Don't know
Now I’d like you to tell me with a yes or no answer if social media helps your company to support any of the following. (% saying each) Among all companies/respondents.
16161616
Importance of Corporate Presence on Social Media
23
23
34
17
22
14
17
19
19
17
17
57
52
42
57
48
55
51
39
39
40
27
14
22
21
22
25
27
27
39
38
38
52
4
2
4
4
6
4
5
2
4
6
4
0 50 100
Company profile or brand
Public relations
Recruiting and professional search
Corporate reputation
Vetting job applicants
Marketing and Sales
Networking and professional development
Following business news
Media relations
Investor relations
Following equity markets and investment news
Yes, greatly Yes, somewhat No Don't know
Now I’d like you to tell me with a yes or no answer if social media helps your company to support any of the following. (% saying each) Among those with corp. social media accounts; n=74
17171717
Corporate Value of Social Media Vs. Traditional Forms of Communications
23
22
21
12
8
7
5
0 10 20 30
Can target specific groups
Access to broader market/client base
Frequent, speedy, convenient, real-timeupdates
Exposure, reputation, brand visibility
Less costly, no upfront investment
Interactive, can receive feedback
Dirct link to consumer base
Total
What is the main value for companies when it comes to using social media versus traditional forms of communications? (open-ended; % saying each)
Comments mentioned by less than 6%: No/little benefit, Access to hiring/talent pool, Other,Don’t know: 8%No response: 10%
18181818
Personal Value of Social Media Vs. Traditional Forms of Communications
11
11
11
11
9
9
7
7
0 5 10 15
More frequent, speedy, real-time
Interactive engagement
Improves comms, wide net cast
Little or no benefit
Stats, understanding of market trends
Targeted msgs to specific groups
Networking opportunities
Less costly, no upfront cost
Total
What is the main value for executives when it comes to using social media versus traditional forms of communications? (open-ended; % saying each)
Comments mentioned by less than 6%: Branding,More controlled msgAccess to talent pool,Other,Don’t know: 12%No response: 14%
19191919
One In Three Companies Have Dedicated Budget To Social Media
One third of all companies has assigned specific budget to socialmedia.
This includes the majority of service firms and large employers.
One third of companies have shifted marketing budget from paidmedia to social media.
Among services sector companies, most have shifted budget to social media.
On average, those companies that have done so have moved 20% of theirmedia budget away from paid to social media.
20202020
Specific Budget for Social Media Advertising
33
17
18
56
20
28
55
64
72
82
43
80
72
38
2
11
2
8
0 20 40 60 80 100
Total
Manufacturing
Resouces
Service
1-200 employees
201-1000
1000+
Yes No Don't know
Has your company assigned specific budget to social media? (% saying each)
21212121
Shift to Use of Social Media Advertising
33
39
7
57
25
28
48
27
34
0 20 40 60 80 100
Total
Manufacturing
Resources
Service
1-200
201-1000
1000+
West
Rest of Canada
Yes
Has your company shifted marketing budget from paid media to social media? (% saying each) If yes, can you estimate what % of your marketing budget has been shifted to social media over time?
22222222
How Are Companies Managing Social Media?
Few of the companies using social media believe they are industryleaders in this area.
77% of companies using social media have an executive designated tosupervise the use of social media. For most this is at the VP level orhigher.
23232323
Self-Assessment of Social Media Use
10
5
18
14
55
58
67
48
60
42
32
37
33
30
25
53
3
3
2
5
0 20 40 60 80 100
Total
1-200 employees
201-1000
1000+
Social Media importantfor Co.'s
Social Mediaunimportant for Co.'s
Among the industry leaders About averageLagging behind most companies Don't know
How would you rate your company’s performance in using social media? Would you say your company is: (Asked only of those whose cos. use social media, % saying each)
24242424
Executive Supervision of Social Media
77
22
17
14
5
4
3
3
9
21 3
0 50 100
Total
Department VP
Senior VP
Department Director
CFO
CEO
CIO
COO
Other
Yes No Don't know
Do you have an executive supervising the corporate use of social media? If so, at what level or title? (Among those whose co. uses social media, n=74; % saying each)
25252525
What Are Obstacles To Implementing Social Media Strategies?
Reasons why companies may not be active in social media:
They question the value of the investment of those resources.
The time and resources and personnel/expertise it requires.
They feel it’s not relevant to their business or industry.
Or limitations on or concern about liability for what they can say or commenton, and potential backlash social media conversation can have.
Very few companies encourage social media use at work but most areneutral about their employees’ use of social media on company time.
Only 3 in 10 employers actively discourage social media use by employees atwork.
26262626
Obstacles to Doing Move with Social Media
16
16
12
12
11
10
9
8
7
7
0 5 10 15 20
Not relevant to their business model
Allocation of resources, time
Expertise
Measuring the benefits, don't know ROI
Restrictions & liabilities within & outside of co.
Controlling msg, worried abt backlash
No obstacles
Cost
24hr task, keeping on top of it
Mgmt unwilling to change
Total
What are obstacles for companies like yours that that prevent them from doing more with social media? (open-ended; % saying each)
Other: 6%Don’t know: 6%No response: 5%
27272727
Company Policy of Staff’s Personal Social Media Use at Work
9
4
17
60
67
63
56
30
33
32
28
0 20 40 60 80 100
Total
Manufacturing
Resources
Service
Enourage Neutral Discourage
Does your company encourage, discourage, or remain neutral about your staff’s personal use of online social media while at work? (% saying each)
28282828
Executives’ Personal Social Media Use
57% of executives have their own social media accounts set up in theirname.
Of that group, the vast majority have a LinkedIn account; most are onFacebook.
Among all executives surveyed, 53% are on LinkedIn, 38% are on Facebook,25% on Twitter.
Most with social media accounts are using their accounts forpersonal/social reasons but somewhat more said they use theiraccounts for professional networking. They were far less likely to saythey use their personal accounts to promote their companies.
The majority posts on their accounts occasionally. Few (4%) post totheir accounts about once a day. None admitted to posting more thanonce a day.
29292929
Personal Social Media Accounts
53
38
25
14
3
0 10 20 30 40 50 60
Google +
A blog
Yes
Do you have a social media account set up in your name? If yes, do you have a…(% of All Executives surveyed with each)
30303030
Who Writes Personal Social Media Posts?
68 11 4 3 14
0 20 40 60 80 100
Total
Myself Mix of myself and others Others Don't know No response
Do you usually write posts yourself or have others do it in your name? (Among those with social media accounts, n=71; % saying each)
31313131
Frequency of Personal Social Media Posts
4
6
5
21
28
20
16
73
72
69
79
3
6
0 20 40 60 80 100
Total
<45 years old
45-54
55+
Several times a day Once a day A few times a weekSeldom or never No Response
How often do you post online? (Among those with social media accounts, n=71; % saying each)
32323232
Uses of Personal Social Media Accounts
81
70
55
26
15
0 50 100
To help your professional networking
To stay up to date on personal and socialinterests
To stay up to date on news related to yourbusiness
To help promote your company
To express personal views
Yes
Do you use your personal social media account…?(Among those with social media accounts, n=73; % saying each)
33
Forecasts For The Economy & Cos.
Opinion about the Canadian economy has improved only slightly this quarter.
But again this quarter, forecasts are slightly more favourable about growth in the US.
When it comes to their own businesses, companies are slightly more optimistic this quarter.
Among resources companies, more are reporting strong growth this quarter than last, but a significant number still face serious concerns:
44% or resources companies are predicting strong growth – an improvement over recent quarters’ surveys
But 17% expect their companies to decline over the next 12 mos.
343434
Current Growth Levels In The Canadian Economy
“Which of the following do you think best describes the Canadian economy at the current time -strong growth, moderate growth, moderate decline, strong decline?” (% saying each)
13
2
17
67
76
95 95
8590
7175
7882
7882
7680
85 85 8590
86
98
82
33
24
4 5
169
3026
16 14
2216
2219
1215 14
100
20
40
60
80
100
Growth Decline
35353535
Expectations ofthe Canadian and US Economies
9
2
86
95
4
3
0 20 40 60 80 100
US economy
Canadian economy
Strong growth Moderate growth Moderate decline Strong decline
“What are your expectations for the U.S. /Canadian economy over the next 12 months, strong growth, moderate growth, moderate decline, strong decline?” (% saying each)
36363636
Projections for The US Economy
91011
788
5111
11121
1
8680
818481
7862
6771
5033
7060
4968
6568
553
2218
48
88
1012
3028
2645
5927
3745
2927
2742
4259
61
11
11
28
11
52
53
354
1720
12
112312
1
22
2
0 20 40 60 80 100
Jun. '14
Dec. '13
Jun. '13
Nov./Dec. '12
May/Jun. '12
Sept. '11
Nov./Dec. '10
May/Jun. '10
Sept. '09
Nov. '08
Jun. '08
Strong growth Moderate growth Moderate decline Strong decline DK
“What are your expectations for the U.S. economy over the next 12 months, strong growth, moderate growth, moderate decline, strong decline?” (% saying each)
37373737
Projections For The Canadian Economy
“What are your expectations for the Canadian economy over the next 12 months, strong growth, moderate growth, moderate decline, strong decline?” (% saying each)
1911
73
1
2332
111111332
807482
6957
1555
89898993
698184
7482
8688
8888
95
115
927
3970
42878
529
1514
2016
1110
99
3
11
115
3
1
1
2
11
211
4111
0 20 40 60 80 100
Feb. '06Sept. '06Mar. '07Aug. '07Jun. '08Nov. '08
May/Jun. '09Dec. '09
May/Jun. '10Nov./Dec. '10
Jun. '11Dec. '11
May/Jun. '12Sept. '12
Nov./Dec. '12Mar. '13Jun. '13
Sept. '13Dec. '13Mar. '14Jun. '14
Strong growth Moderate growth Moderate decline Strong decline DK
32
44
22
22
57
33
76
72
7
12
2
6
2
5
2
5
0 20 40 60 80 100
Total - June 2014
Resources
Services
Manufacturing
Strong growth Moderate growth Moderate declineStrong decline Don't know
38383838
Outlook for Business – June 2014
“What are your expectations for your company over the next 12 months, strong growth, moderate growth, moderate decline, strong decline?” (% saying each)
44
20
28
32
29
43
33
75
49
48
45
46
12
5
14
10
14
10
5
3
4
4
5
6
6
8
0 20 40 60 80 100
Resources - Jun. 2014
Resources - Mar. 2014
Resources - Dec. 2013
Resources - Sept. 2013
Resources - Jun. 2013
Resources - Dec. 2011
Strong growth Moderate growth Moderate declineStrong decline Don't know
39393939
Recent Outlook for Business -Resources
“What are your expectations for your company over the next 12 months, strong growth, moderate growth, moderate decline, strong decline?” (% saying each)
40404040
Projections For Your Company
323130292927
2532
3927
344140
3627
109
2528
2328
40
5759
5658
546063
5753
6160
5651
5663
5058
6061
6861
53
910
1110
1210884
1152
105
638
2810
77
76
2
23
53
334
112
332
4532
22
0 20 40 60 80 100
Jun. '14March '14
Dec. '13Sept. '13Jun. '13Mar. '13
Nov./Dec. '12Sept. '12Feb. '12Dec. '11
Sept. '11Mar. '11
Sept. '10Mar. '10
Sept. '09Feb. '09Nov. '08Sept. '08Jun. '08Mar '08Aug '07Mar '07
Strong growth Moderate growth Decline DK/NR
“What are your expectations for your company over the next 12 months, strong growth, moderate growth, moderate decline, strong decline?” (% saying each)