By Kevin Kirby
The biggest news at the moment has to be the Twitter Acquisition by Billionaire meme lord, Elon Musk. Musk paid $44 billion for his stake. Yes, billion.
Following the disclosure of Musk's acquisition in a regulatory filing in October, Twitter shares increased by as much as 27%. Since the stock's first trading day after the company's initial public offering in 2013, the gain was the stock's largest intraday rise. With 80 million followers behind him, Musk has been one of the biggest personalities on Twitter and this is a testament to the power of his personal brand.
A foundation of marketing for more than 200 years has been well-known celebrities promoting major businesses. In the current social media-led business landscape, consumers are asking for trust and operational transparency. Consumers don’t trust the government or social media but rely on review sites and social media giants like Twitter, Instagram, Facebook, and the like. It’s up to businesses to figure out how to be seen as trustworthy using an inherently untrustworthy marketing medium, and in this contradictory environment, a business can only fare well by providing exceptional service, holding themselves accountable, and being authentic.
Enter the CEO, using their personal brand to create an Executive Influence. Their personal brands are influenced by the companies they have formerly worked in, the results they have helped to achieve, and how the public perceives them, whether in the media or on social media.