In the second part of this series, we look at new digital challenges that IBM’s CMO study pinpoints, including the explosion of data and mobile devices.
In the first part of this article, we discussed how IBM’s new CMO study, which gathered information from nearly 2,000 chief marketing officers worldwide, reveals marketers lagging to keep up with new social media trends. In addition to this shift, the study shows several other key challenges, including information overload and new devices, facing CMOs today.
While CMOs are struggling to gauge consumer opinions on social media platforms, they are also having trouble using social media as a communication tool.
According to the research, “56 percent of CMOs viewing social media as a key engagement channel.” The various choices in platforms—from Twitter and Facebook to YouTube—and the vast numbers of users makes it complex for companies to reach a targeted audience.
The study identifies the worldwide data explosion as another key challenge facing CMOs. “The increasing volume, variety and velocity of data available from new digital sources like social networks, in addition to traditional sources such as sales data and market research, tops the list of CMO challenges,” IBM reports. With such massive amounts of information, obtaining valuable and accurate insights about consumer views can be nearly impossible.