How CFOs Should Leverage Social Media to Develop Business Relationships

How CFOs Should Leverage Social Media to Develop Business RelationshipsWhen the Securities and Exchange Commission announced that companies are now allowed to use social media platforms to broadcast key announcements, the role of social media in the business world was quietly expanded. Of course, social media has been a crucial element of marketing plans and public relations efforts. However, with this recent announcement from the SEC, it’s clear that senior management will continue to increase their roles on social networks.

CFOs Can Work on Social Media, Too

The announcement by the SEC allows companies to disclose key statements on social media sites such as Facebook and Twitter. However, companies must alert all of their investors as to which channel the announcements will come from. This way, information can be regularly disseminated and investors know where to look for these releases, such as first-quarter earnings.

As more and more companies begin to turn to social media to release important statements, this is an opportune time for CFOs to boost their social media presence. Unlike the social media efforts enforced by the marketing team, CFOs should approach social media with a personal touch. Instead of focusing on branding like the marketing team, CFOs should leverage social media to develop business relationship.

The two main social media sites for CFOs to engage in are:

  1. LinkedIn
  2. Twitter

CFOs on LinkedIn

If you’re like most business professionals, you probably have a profile on LinkedIn. To make the most of this platform, go beyond curating your profile. Instead, seek to become truly active within the site. To do this, CFOs should join LinkedIn groups focused on the company’s industries and customers. Once in a group, engage through discussions and connect with other industry leaders. Remember, only 1 percent of LinkedIn users account for 26 percent of the site’s traffic. This means that LinkedIn’s engaged users are truly engaged and are willing to consider business collaborations with professionals they encounter on the site.

Tweeting for CFO Success

CFOs who take advantage of Twitter should not only follow the companies that they want as customers, but seek the profiles of the key decision makers and management leaders within the company. By following and engaging these potential customers on social media, CFOs are breaking down the barriers in a friendly and low-pressure environment. For CFOs who are too busy to include personal social media on their platter of responsibilities, consider using colleagues, consultants, or even interns to help you manage your online presence effectively. Furthermore, as the SEC’s recent announcement drives more companies to perform more important actions online, CFOs can’t afford to ignore social media, especially if their competitors are on there as well.

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