Research by Bazaarvoice found 3 out of 4 CMO’s say social media impacts sales. Other key findings include:
- Social (media) data impacts decisions for nearly all CMOs. Almost half of CMOs have used social data to make predictions or forecasts, and nearly nine in 10 say this data has influenced their decisions.
- CMOs use data to drive smarter decisions beyond marketing. While marketing teams and agencies most often uncover the data itself, insights are used in product development, customer experience, sales, and C-level discussions.
- CMOs believe social reveals consumer sentiment and improves brand awareness. CMOs are most confident in social data analysis of product/service sentiment, and in its impact on overall brand loyalty and awareness.
Read more details on this study at Forbes.
Social media has a lot to teach us about how to do the work of strategy, or how to hire and develop employees, even how we allocate resources internally or manage work flows.
Before this, however, we need to confront an inconvenient truth:
MANAGEMENT IS FAILING: If we changed the way we manage, we could be much more successful than we are today. We should understand the deeper source of social media’s power and the real reason that social media’s growth dwarfs the performance of most companies:
SOCIAL MEDIA IS SUCCEEDING BECAUSE IT TAPS INTO WHAT MAKES US HUMAN: Through our networks we can produce our own news, create our own entertainment, and, more importantly, collaborate and solve problems and go places in our lives that are meaningful to us.
AGILITY AND ENGAGEMENT: With the speed of today’s economy, don’t lose that competitive edge by shifting too slowly.
Read more details on what social business means for leadership at socialbusinessnews.
