IBM have just commissioned a large piece of research with CMOs globally.
They have been interviewing over 1,700 CMOs around the world and the study provides insight into the critical issues they are facing in this rapidly changing digitally driven world.
- 82% of CMOs still rely on traditional market research to influence marketing strategies.
- Only 26% of CMO’s track blogs and only 40% follow any online communication.
- 82% did say they plan to increase their social media use in the next 3-5 years.
- Nearly 70% of CMOs assume consumers interact with them via social media to get information, express an opinion and feel connected.
- In actual fact consumers actually want tangible value – discounts (61%), make purchases (55%). Only 33% seek to get connected.
They also highlight four factors which are considered the biggest marketing headaches
- Data explosion
- Social media
- Growth of channel and device choices
- Shifting consumer demographics
All of which makes ultimate sense and should provide a framework for any business to concentrate on...there are also 3 areas of focus highlighted by the report to deal with the complexity that we all feel
- Delivering real value to empowered customers
- Foster lasting connections - not just communication
- Capturing value and measuring results.
The full report can be found here and hopefully in the next couple of weeks I will be speaking to IBM on more details of this in depth report on The Engaging Brand podcast - so if you have any questions then
Email me at firstname.lastname@example.org