agency new business.
A new IBM study of more than 1,700 chief marketing officers reveals that most CMOs are well aware of the changing marketing landscape and the need to make fundamental changes to traditional marketing methods of brand and product marketing. But they are struggling to respond. Their unpreparedness to manage these key changes in the marketing arena presents a great opportunity for advertising agencies, PR firms and digital shops. But only if they are prepared to lead.
The study’s findings point to four key challenges that CMOs everywhere are confronting:
The explosion of data - 90% of the world’s data today has been created in the last two years alone.
The rise of social media - 56% of CMOs view social media as a key engagement channel
Channel and device choices - The growing number of new marketing channels and devices, from smart phones to tablets, is quickly becoming a priority for CMOs.
Shifting demographics - New global markets and the influx of younger generations with different patterns of information access and consumption are changing the face of the marketplace.