Understanding, being relevant to, and serving consumers will be top priorities – and already are to many CEOs and CMOs alike. Six in 10 CEOs now say that as a CEO, they must exhibit “customer obsession.”
In these customer-centric C-suites, the CMO is the chief customer advocate. And they’ve found their ultimate weapon in social data.
Social data gathered from consumers’ shared sentiments, preferences, interests, networks, searches, etc. online, reveals who consumers truly are as individuals. Wielding this data, CMOs can glean insights in real time to predict future customers’ needs – before they even realise they have them. Our recent survey of members of The CMO Club (all of whom are CMOs of B2C and B2B organisations) reveals that this social data is already elevating them within their executive boards.
Key takeaways from the results include:
- Social data now impacts decisions for nearly all CMOs, and almost half use this data to make predictions or forecasts
- CMOs use data to drive smarter decisions beyond marketing, sharing insights in C-level discussions as well as with product development teams, customer service, sales teams, and others
- CMOs believe social reveals consumer sentiment, improves brand awareness, and positively impacts brand loyalty.
The full report which has an infographics and the full results of the survey can be found here.
