CMOs Having Trouble Proving Impact of Social Media
August 27, 2013 -- In a recent survey of chief marketing officers (CMOs), Duke University's Fuqua School of Business find organizations are increasingly allocating resources to social media marketing, but the majority of CMOs haven’t been able to show the impact of social media on their business.
According to The CMO Survey:
Just 15% of B2B and B2C respondents have proven the quantitative impact of their social media marketing expenditures.
Another 36% say they have a good sense of the qualitative impact, but not the quantitative impact.
Almost half of the CMOs surveyed (49%) have not been able to show that their company's social media activities have made a difference.
Despite this, marketers are expected to increase expenditures in social media from 6.6% to 15.8% over the next five years.
Source: Duke's Fuqua School of Business, 2013
About: Founded in August 2008, The CMO Survey collects and disseminates the opinions of top marketers in the United States two times per year.
An email survey was sent to 4,410 U.S. marketers at Fortune 1000, Forbes Top 200, and Top Marketers who are AMA Members or Duke University Alumni and Friends; 410 responded for a 9.3% response rate; 93% of respondents VP-level or above. Survey in field from July 16, 2013 - August 6, 2013.
Source: Christine Moorman/Duke's Fuqua School of Business, The CMO Survey Highlights and Insights, accessed Sept. 12, 2013.