Executive Advisory Board

OVERVIEW

In November 2016, members of the JPMorgan Chase Executive

Advisory Board were asked to share their views on social

media and its value to their businesses. The findings detailed

below provide a snapshot of the views of executives around

this topic.

SOCIAL MEDIA USAGE

For which purposes do you use social media?

• Overall, the purposes for using social media have remained consistent year over year.

• Personal use of social media has decreased over the past three years, down to 55 percent in 2016 (from 58 percent in 2015 and 59 percent in 2014).

• After a slight downtick in 2015, the use of social media for hiring and/or recruiting is on the rise again, up to 39 percent in 2016.

• The percentage of executives who don’t use social media has remained the same year over year.

Why do you not use social media?

• Executives’ lack of interest in social media decreased 22 percentage points year over year; however, it remains the leading reason why respondents don’t use social media.

• Concerns over security and/or privacy, as well as a lack of time, both saw an uptick among respondents in 2016 (33 percent and 14 percent, respectively).

Do you plan on utilizing social media in the future?

• Of respondents currently not utilizing social media, 94 percent have no plans for future use (up from 83 percent in 2015).

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EXECUTIVE ADVISORY BOARD2

FREQUENCY OF USAGEHow often do you access social media sites?

• Daily use of social media for business purposes continues to increase year over year, with 38 percent of respondents accessing it on a daily basis in 2016 (up from 35 percent in 2015 and 31 percent in 2014).

• Daily usage of social media for personal use increased 13 percentage points year over year and remains higher than daily business use.

• Of the 38 percent of respondents who access social media on a daily basis for business purposes, the most common usage is business marketing (76 percent) and professional networking (69 percent).

How do you use social media to market your business?

• Executives most frequently market their businesses on social media to raise brand awareness (86 percent).

• Among respondents who use social media to market their businesses, “product marketing” continues to gain traction year over year (61 percent in 2016, up from 59 percent in 2015 and 57 percent in 2014).

How important is social media to your business?

• The importance of social media to business declined slightly in 2016, with 18 percent of respondents indicating that social media is very important to their business (down two percentage points from 2015).

• 13 percent of respondents feel that social media is not at all important to their business (up from 11 percent in 2015).

Which social media channels do you use?

• LinkedIn continues to be the most popular social media channel for business use (74 percent).

• Usage of Facebook (53 percent, up 5 percentage points year over year), Twitter (40 percent, up 2 percentage points year over year) and Instagram (14 percent, up 2 percentage points year over year) continues to grow.

• Respondents use Google+ less frequently in 2016; usage decreased 10 percentage points year over year.

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3 EXECUTIVE ADVISORY BOARD

LINKEDINDoes your company encourage its sales team to have a LinkedIn profile?

• 86 percent of respondents have a LinkedIn account [chart not shown].

• Of respondents who have a LinkedIn account, 38 percent encourage their sales teams to have LinkedIn profiles, too.

• When asked how effective LinkedIn is for sales, only 9 percent feel it is “very effective” or “fairly effective” (top 2), while 31 percent cite “I don’t know” [chart not shown].

How do you use LinkedIn?

• Over two-thirds of respondents use LinkedIn to grow their networks, continuing the uptick year over year.

• Using LinkedIn to connect with clients has increased 3 percent to 39 percent, overtaking those who use it to belong to groups.

• Belonging to groups on LinkedIn, participating in groups, and sharing content all continue to decrease year over year.

Which of the following LinkedIn sales tactics are used by your company?

• The top LinkedIn sales tactics used by companies are: search for companies (35 percent), add connections (34 percent) and follow companies (29 percent).

• The percentage of respondents who said that, when using LinkedIn as a sales tactic, they use it to search for companies increased 8 percentage points year over year, to 35 percent.

• Over one fourth of respondents don’t use LinkedIn for sales.

ACCESSING SOCIAL MEDIAWhat device(s) do you use to access social media resources?

• The use of computers to access social media decreased year over year while the use of smartphones increased (85 percent and 87 percent).

• The use of tablets to access social media resources decreased four percentage points year over year; this remains the device utilized least by executives who access social media resources.

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