The study reveals that CMOs (Chief Marketing Officers) not only implement social data in their everyday strategy but incorporate their social media findings throughout the company. Over 97% reported they share social data with other C-level executives and incorporate it in their sales, product management and development departments.
Here are the top three benefits CMO’s discovered from using social media in their business strategy:
Social data can give hints to future consumer feelings about a product.
Nearly 50% of CMO’s have used social data to help provide accurate forecasts of sales earnings. Social data tends to offer more insight into products, brands and specifically consumers, than traditional marketing research. This allows CMO’s to better predict their customers future needs before they have them.
Using social data drives better results in departments other than marketing.
CMO’s say that insights from social data are used in customer experience, product development, sales and brand management departments. The importance of tracking consumer social data has become so beneficial that nearly 67% of CMO’s report their findings to C-level executives monthly and 97% report it annually.
Implementing social data helps improve brand awareness strategies.
CMOs believe social data reveals business trends and can pinpoint consumer patters than can help create brand awareness and loyalty. Over 77% of CMO’s believe social data is effective when analysing the influence of an individual or group. Social data was found to help CMO’s discover how their customers felt toward a specific product or product line.
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