The right and wrong way to use social media: CEO

Companies that successfully use social media give their audiences valuable content and let their fans be the voice of the brand, the founder and CEO of TheAudience told CNBC on Monday.

What they don’t do is market to them and tell them what’s cool, Oliver Luckett said in a “Squawk Box” interview.

“You have to provide value to the system. You’ve got to provide decent content. You can’t just be marketing on these platforms,” said Luckett, whose company creates and post content for brands and Internet influencers.