《CMOs on Social Marketing_1900》.pdf

CMOs on Social Marketing Plans for 2011 What’s the real value of the customer voice? © 2011 Bazaarvoice, Inc. All rights reserved. Executive summary: CMOs aspire to measure ROI with a growing awareness of the real value of the customer voice. In our second annual marketing survey, we surveyed CMOs in The CMO Club about their use, expectations, and measurement of social media, then compared the results to the previous year’s survey. In short, 2009 marked the year CMOs embraced social media marketing but struggled to tie their strategies to the bottom line. Many evaluated engagement metrics created from social media — such as the number of click-throughs to the website or number of fans or followers — instead of evaluating business metrics like revenues and conversion. In 2009, CMOs aspired to tie social to the bottom line. In 2010, CMOs reported similar challenges in tying social media to revenues. In 2011, revenues remain critical, but the additional value of these consumer interactions — even beyond the site — lies within the key insights customers share with brands. These aggregated insights, when analyzed and put into action, create value far beyond the marketing organization, impacting products, vendor relationships, and corporate strategic initiatives. 2009 to 2011: How will social media evolve? Social media is an increasingly important part of the marketing mix. Companies continue to invest and participate in social media marketing activities, and social media remains a critical part of the marketing mix, despite the fact that CMOs may not always be clear on the ROI that those tools drive. In 2010, 90% of CMOs said they participated in three or more social media activities. The activities that have the most participation across business-to-consumer and business-to-business companies include company blogs (87%), brand communities (86%), and Facebook (79%). W