CMOs' Beliefs About Social Data & Business Trends [CHART]
Data from Bazaarvoice’s “Chief customer advocate: How social data elevates CMOs” indicates that roughly 4 in 5 CMOs believe that social data is at least somewhat effective in indicating: discernible trends or patterns that may impact the business (83.3%); consumer demographics and/or psychographics (80.7%); consumer sentiment towards individual products or product lines (79.7%); and influence of individuals or groups on the purchase decisions (77.9%). Slightly more than 7 in 10 also agree that social data is at least somewhat effective in indicating consumer sentiment towards a brand or company.
For the purposes of the study, “social data” is defined as any data collected based on consumer use of social media. Read the rest at MarketingCharts.