In 2012, Gartner predicted that by 2017, CMOs would spend more money on IT than CIOs. This prediction already seems to be manifesting. Marketing technology is becoming inundated with clouds, stacks, innovation, and funding.
Marketers should be aware that social also is a critical ingredient in the marketing mix. Social is an important channel for buzz and awareness, content marketing, lead generation, and sales. If marketers are ignoring social, they are missing a key component in their marketing machine's foundation.
CMOs should also know that beyond mastering the science of the tweet on their personal handles, social intelligence offers a swift route to highly strategic decision-making and targeted marketing for increased business results. The "social CMO" gets it and knows what social data arms his or her team with the insights to influence the performance of core business operations, such as product development, customer service, even HR, finance, and beyond.
Equipped with social intelligence and a strategic action plan, the CMO no longer answers to "just" the sales organization. That combination of tools paves the way in the boardroom.
Take a look at a few examples that illustrate how having a socially savvy CMO can positively affect organizations' bottom line.
1. Monetize Complaints
Your company's social presence is also your main customer service channel. Just ask customers.
Lithium Technologies discovered that 53% of customers who ask a brand a question on Twitter expect a response within one hour regardless of when they tweeted, with that percentage rising to 72% if the post is a complaint.