IBM survey of 1,734 highlights a frankly disgusting lack of accountability in the marketing ‘industry’. Some highlights:
-56% are not prepared to be held accountable for marketing RoI (what the hell have you been doing for the last 60 years???)
- 44% do not view social media as a key engagement channel - a shocking 74% do not track the landscape. Fair enough - I mean, its not like your consumers matter to your business or brand perception at all, is it?
- Despite this, 80% still primarily use market research as a primary source of information - you know the kind, the ones that say to 25 people ‘I’ll give you £50 to tell me what you think of me’.
- 70% of the marketers surveyed said they feel incapable of analyzing and responding to the glut of data available about their consumers, yet only 28% want to increase their technical skills. Translated: 42% of CMOs do not understand how to deal with data but don’t want to do anything about it.
It seems to me that marketers everywhere are being found out (finally). Its no longer enough to hide behind TV audience figures and statistically insignificant market research data as measures of success. The world has become more open, collaborative and insightful, and this report suggests that (most) marketers are not willing and/or equipped to deal with it, and sooner or later they will be usurped by smarter, rational people who can prove the value of what they are doing.
I imagine that it will be sooner rather than later.