In a report published by Georgina Prodhan of Reuters - Marketing chiefs feel overwhelmed by the growing volume of customer data on websites like Facebook and Twitter, and while they realise its potential value they consider themselves ill-equipped to harness it, an IBM study found.
Only 26 percent of chief marketing officers track blogs and just 40 percent track any online communications, while 82 percent still rely on traditional market research to shape marketing strategies, according to the study.
But most CMOs are struggling to prove that investments in social media marketing would yield returns, according to the survey of more than 1,700 CMOs published on Tuesday and carried out in face-to-face interviews from February to June.
"The perfect solution is to serve each consumer individually. The problem? There are 7 billion of them," said one CMO at a consumer-products firm in the survey.
Some 82 percent said they planned to increase their use of social media over the next 3-5 years.
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