IBM recently completed its initial Global Chief Marketing Officer (CMO) Study surveying more than 1,700 CMOs from 64 countries.
- 81% plan to increase their use of CRM technologies within the next three to five years
- 82% plan to increase their use of social media
- 81% plan to increase their use of customer analytics
- 80% plan to increase their use of mobile apps
- 33% plan to allocate 21 to 40% of their marketing budget to strategies leveraging social marketing and other interactive digital tools in three to five years while 20% expect to allocate more than 40%
Here are the six key findings I took away from the study:
- CMOs must help their companies move towards and integrated social CRM strategy that provides value to both customers and the business.
- Marketers must move from point-in-time customer touches to continuous engagements understanding customers as complex beings rather than just consumers or revenue opportunities.
- CMOs need to understand individual customers and get closer to more of them.
- CMOs have to connect with customers in ways that the customer feels adds value. This entails engaging with them throughout the customer life cycle and building online and offline communities of interest.
- CMOs must work with the rest of the c-suite to integrate the internal and external faces of the enterprise to deliver a consistent brand promise to the consumer.
- Companies must go beyond communicating with consumers and help them enjoy the product or service they’ve purchased and collaborate with them to co-create new products and services.
These findings reiterate the need to have an ongoing dialogue with your customer to understand their expectations, needs and wants as well as how good a job you are doing delivering on those.
What are you doing to promote a dialogue with your customer?