CMOs Struggle to Keep Up With Social Forecasts

By Jessica Maxwell, Associate Marketing Specialist

CMOs & Social Media

The CMO Survey from Duke's Fuqua School of Business shows that CMOs are not keeping up with plans for social media spending. At this point, social should take up 10% of marketing budgets, but the survey shows that it only takes up an average of 7.4% of the budgets. One of the main causes is most likely because of the difficulties with matching up an ROI for social investments. Only 15.9% reported that they have proven the impact of their social media budgets, and many other research has shown similar results. Despite the gap in plans, CMOs will continue to spend budget on social media; they expect to devote 10.1% of their budgets to social in the next 12 months, and 18.1% over the next 5 years. It will be interesting to see if CMOs start to follow through on their plans as ways to connect ROI to social efforts become easier for marketers.

 

Mobile Ads

 

 

PricewaterhouseCoopers's new study found that even when consumers are interested in the ads they see on their mobile device, they usually do not click on them. This clearly is a big problem for mobile marketers to try to reach their audiences on their mobile devices. The study looked at what are the most important parts of mobile advertising, and respondents said that duration/size of ads is the most important, followed by relevance of the ad content, and ads for services and goods specific to their location. When it comes to duration of the ads, the shorter is better, which seems to be true for most things these days; consumers want to find out what they need to know in as little time as possible. When asked for preferred mobile ad type, 25% chose banners ads, followed by mobile coupons (27%).  Mobile ads will develop with time, but marketers have a lot of things they need to think about in order to reach who they're looking for and to figure out ways to increase clicks on their ads.

Data Quality

American companies believe that 25% of their data is inaccurate, according to Experian Quality Data. There are many different reasons for the data quality issues, some of which are human error, lack of communication between departments, and inadequate data strategy. One thing that has changed in the past couple of years is the amount of businesses using SaaS platforms to manage their data quality, but some are still using manual methods.


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