In a wide-ranging survey of more than 1,700 chief marketing officers from 64 countries and 19 industries, IBM’s 2011 Global CMO Study revealed that a large portion of CMOs, while excited at all the changes happening in the marketplace – are ill-equipped to deal with and manage it.
Back in July I shared with you the results of the State of Marketing Report from the Chief Marketing Officer (CMO) Council which revealed that “Social Media And Integration is Chief Among Marketers’ Priorities.” Then in September it was the results of a study conducted by Duke University’s Fuqua School of Business that showed that “CMO’s To Increase Spending On Social Media But Integration Still Lacking.”
And today I want to share some of the results of the aforementioned IBM 2011 Global CMO Study which revealed four (4) key challenges that CMOs feel unprepared to manage:
- The explosion of data. It goes without saying we are ALL swimming in a sea of data. It’s all around us and the key will be not only managing all of it but measuring it and gleaning
the right information from it. Yes the operative word is “right.” One CMO survey put it very bluntly “At this moment, I don’t know how our marketing department will cope with the expected data explosion.”