I recently had a chance to review IBM’s 2011 Global Chief Marketing Officer Study and was surprised by some of the findings. Based on interviews with over 1,700 chief marketing officers around the world, the study reveals that CMOs are struggling to overcome numerous challenges. Titled, “From Stretched to Strengthened,” it identifies the top marketing trends impacting business from a global perspective.
What I found interesting was that both B2B and consumer brands are equally challenged. There’s wasn’t anything that separated the two business categories in terms of approach. There were also several references to ROI and how CMOs are in a similar position that CFOs were in 10 years ago. This really speaks to the growing analytical side of online monitoring and measurement. While being accountable though, CMOs are much more focused on building and strengthening relationships with customers than in previous years.
I have to give IBM a lot of credit for the way they delivered the survey results. The report was repackaged in so many digital formats that I don’t think they missed a social media channel. I’ve pasted links to various sites at the end of this post.
Here are the top marketing trends impacting businesses around the world:
- Explosion of data – Here’s a shocking statistic: 90 percent of the world’s data today has been created in the last two years alone. This presents a major problem in terms of analyzing all of the data and then determining how to use it in to develop better products and improve customer relations.
- Social media – The second area of worry is social media, which is primarily responsible for the exponential increase in data overload. CMOs are faced with the complexity of managing and participating in the social media landscape. They also understand that customers see this as a requirement for connecting and communicating with them.
- Mobile devices – The third largest issue is the proliferation of mobile devices. With mobile commerce set to reach $31 billion by 2016, CMOs will need to uncover opportunities that contribute to the bottom line.
- Shifting demographics – Coming in fourth place is the shifting of consumer markets with new needs and consumption habits. Mass markets no longer exist and CMOs will need to adapt to those changes in order to succeed.
You can access the IBM 2011 Global CMO Study in multiple formats:
- Corporate social media press release
- Full-text report via registration
- LinkedIn Group to discuss the results
- Hashtag #IBMCMOStudy on Twitter to capture real-time dialogue
- Password-protected multimedia center (journalists only)
- PowerPoint presentation on SlideShare
- Social media press release on company website
- Webinar – in association with Harvard Business Review
- YouTube – Analyst Virtual Briefing (virtual reality at its finest!)
- YouTube – CMO Video Interviews
- YouTube – Video News Release (see below)