According to a recent IBM study of 1,734 global chief marketing officers, the number one marketing challenge is to turn mass amounts of available data into information that allows companies to take action.
Today’s customers can shop around the globe, find out more than ever before about the organizations they’re dealing with, and share their views with hundreds of thousands, if not millions, of fellow customers. The expectations of consumers, citizens and business customers are soaring. And they can make or break brands overnight.
After face-to-face interviews with 1,734 CMOs, spanning 19 industries and 64 countries, we know CMOs are feeling stretched, but we also heard great excitement about the future of marketing. These conversations and our in-depth analysis of study findings underscore the need to respond to three new realities: The empowered customer is now in control of the business relationship. Delivering customer value is paramount — and an organization’s behavior is as important as the products and services it provides. The pressure to be accountable to the business is not just a symptom of hard times, but a permanent shift that requires new approaches, tools and skills.
Source: IBM Global CMO Study