Commentary

Top Executives Exploring Digital Space

Top Executives Exploring Digital Space

According to the Business Elite Study by Ipsos MediaCt, and the Executive Summary drafted recently for the AAAA, almost half of C-suite executives say "the Internet has made little difference in their reading of business publications," while at the same time, using a publication's website is part of the daily routine for about two out of five (38%).

The Business Elite Study explores the media habits, attitudes, opinions, and business and personal purchasing habits of the highest echelon of America's business community-the "C-Suite."

BE:USA measures the media, business, and professional profiles of top U.S. executives in mid-to-large size companies with 250 or more employees in head or regional offices. It also measures the profiles of executives in national or regional offices of banks with assets of $500 million or more and insurance companies with 150 or more employees.

Hugh White, Vice President of Ipsos MediaCT adds that, "top executives are heavy users of what we think of as traditional media, such as television, newspapers, and magazines, but they are also getting more deeply into the digital space, not only the Internet itself, but streaming video, blogs, podcasts, and the like."

64 percent of executives interviewed are classified by job title as "corporate level" or "C-suite" executives, meaning they hold a job title from CEO to Chief Planning Officer. The balance of the executives surveyed in BE:USA are executive/senior vps, general managers, or department directors or managers with responsibilities including:

  • Strategic planning
  • General management
  • Operations
  • Finance

The demographic profile of these executives offers a glimpse into the corners of America's executive suites, says the report. They have total personal incomes averaging more than $400,000, and an average net worth of more than $1.7 million. Much higher valuations exist among corporate level executives, those in insurance companies, and larger U.S. companies.

2007 U.S. Business Elite

 

Average Personal Income

Average Net Worth

Average Age

Grad College

Advanced Degree

Total Business Executives

$407,871

$1,701,123

51.7

79.9%

37.3%

C-Suite Executives

$497,385

$2,005,795

53.2

84.2

40.8

Bank Executives

$338,026

$1,867,192

51.8

86.1

40.4

Insurance Co. Execs

$454,870

$1,609,826

53.8

85.6

41.0

In Companies with:

<1,000 Employees

$312,297

$1,512,925

51.6

78.6

34.4

1,500-4,999 Employees

$511,853

$1,874,901

51.4

88.9

44.7

5,000+ Employees

$701,180

$2,203,704

51.6

88.5

47.6

Source: IPSOS BE:USA, May 2008   * Net worth excludes real estate holdings

 

While the Internet is the number-one source for executives overall, for CEOs the Internet ranks third. National newspapers are the top choice for CEOs and the C-Suite.

Main Sources for Business News

 

Total U.S. Business Elite

C Levels

CEOs

Internet

13.7%

13.6%

13.2%

National Newspapers

12.0

14.7

19.7

Cable TV

11.3

11.1

14.5

Business Magazines

9.6

10.6

12.9

Network TV

9.4

8.0

7.5

Local Newspapers

8.6

8.8

12.4

Radio

3.5

3.5

3.9

Lifestyle Magazines

.2

.3

.6-

Source: IPSOS BE:USA, May 2008

Looking at the sources that executives turn to first for "helping me in business," the Internet tops the list for total executives but C-level executives and CEOs give their highest ranking to business magazines.

Turn to First For Helping Me in Business

 

Total U.S. Business Elite

C Levels

CEOs

Internet

40.2%

37.0%

30.2%

National Newspapers

11.8

14.3

17.9

Cable TV

2.9

3.6

4.1

Business Magazines

35.4

37.7

38.3

Network TV

1.4

1.6

1.8

Local Newspapers

6.2

6.2

6.8

Radio

1.1

1.1

1.2

Lifestyle Magazines

.1

.1

.2

Source: IPSOS BE:USA, May 2008

More than half of executives surveyed said that they purchased products as a result of Internet advertising, but about 40 percent said they had done so as a result of TV or magazine advertising, more than 33 percent said newspaper advertising had prompted them to purchase, and almost 20 percent said radio spots had resulted in purchases. There was little difference between total executives and C-levels in this regard.

Purchases Related to Ad Exposure

 

On TV

On Radio

In Newspapers

In Magazines

On the Internet

Total U.S. Business Elite

43.2%

17.9%

36.9%

41.7%

55.3%

C-Suite

42.9

17.6

37.2

41.3

54.1

Source: IPSOS BE:USA, May 2008

Large numbers of executives also visited a Web site following exposure to advertising in various media.

Visited Web Site Related to Ad Exposure

 

On TV

On Radio

In Newspapers

In Magazines

On the Internet

Total U.S. Business Elite

43.3%

26.0%

37.7%

47.2%

51.2%

C-Suite

41.3

22.6

38.3

46.1

48.7

Source: IPSOS BE:USA, May 2008

The Study contains several attitudinal batteries, including twenty-two statements in the "about you" section of the questionnaire. In some areas, the attitudes for CEOs are significantly different than those of BEs at large.

Executive Attitudes

 

Use Same Brands at Work/Home

Career is top priority

Technology stifles creativity

Meeting people face-to-face critical in my business

Not afraid of taking business risks

Keeping up with latest technology vital to success

Total Business Elite

60.8%

40.9%

10.6%

77.6%

84.8%

70.7%

C-Suite

64.1

43.6

11.1

81.2

88.5

72.2

CEOs

67.3

46.0

11.9

88.5

92.6

76.3

Source: IPSOS BE:USA, May 2008

For more information, please visit Ipsos-na here.

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