Bazaarvoice study finds social data impacts CMO forecasting

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Austin, Texas—CMOs are increasingly using social data to make decisions and forecast results, according to a study by social software company Bazaarvoice, in partnership with The CMO Club, an organization of chief marketing officers. The study, “Chief Customer Advocate: How Social Data Elevates CMOs,” was based on an online survey of 112 CMOs, conducted between May 18 and June 8. According to the survey, 89.4% of CMOs said social data has impacted at least some of their decisions; and 21.3% said social data affects at least one in every five decisions they make. Nearly half (47.3%) of the CMO respondents said they have used social data to make predictions or forecasts, most commonly to project sales. Also according to the survey, 97.3% of CMOs said they share findings from social data with other C-level executives at least annually, and 67.0% report social findings to C-level executives at least monthly.
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