Oct 11 (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.

A few top consumer brands, such as Coca-Cola , Nike and Starbucks — are
using high-profile social media campaigns to great effect to find out what their
customers want and to communicate with them.

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.

IBM, along with other technology firms and big advertising agencies, is seeking to capitalise on the need of marketers to analyse data being created and shared on sites like Twitter and YouTube or by email.

Facebook has more than 800 million active users, while Twitter users send about 200 million tweets per day.

Such unstructured data, which are not collected in databases or documents, are difficult to understand using traditional computer programmes.

IBM estimated that more than 90 percent of all real-time information being created today are unstructured — and has spent $14 billion in the past five years on acquisitions of analytics companies to fulfil that new demand.

“We have entered the age of the smarter consumer,” IBM marketing executive Marcel Holsheimer told journalists at a briefing in London.

Read more…

Cookie Control

Cookie control

We have placed cookies on your device to help make this website better.

I'm fine with this

We have placed cookies on your device to help make this website better.

You can use this tool to change your cookie settings. Otherwise, we’ll assume you’re OK to continue.

Some of the cookies we use are essential for the site to work.

We also use some non-essential cookies to collect information for making reports and to help us improve the site. The cookies collect information in an anonymous form.

To control third party cookies, you can also adjust your browser settings.

I'm fine with this
(One cookie will be set to store your preference)
(Ticking this sets a cookie to hide this popup if you then hit close. This will not store any personal information)
Information and Settings Cookie policy