Social data impacts the decisions for almost all CMOs, according to a study by SaaS company, Bazaarvoice.
The CMO Club survey highlights CMOs are increasingly turning to social media, rather than traditional market research methods, for market insight – 47 per cent use social data to make trend predictions or forecasts.
The research also revealed that 83 per cent of CMOs think social data is effective at indicating distinct trends or patterns that may impact their business, with 77 per cent believing it is effective at analysing the influence of individuals or groups. Further to this, 82 per cent were confident their company’s social activities have a measurable impact on brand awareness.
Brett Hurt, founder and CEO at Bazaarvoice, commented, “The best big data story to be told is how social data impacts the organisation to transform business. CMOs have historically been the closest to the customer, and they are now the ones who are leading the charge to use this data to evolve and elevate their brands and business. With word of mouth being digital for the first time in human history, they can listen to their customers like never before and bring that learning to their entire company, not just in marketing.”
