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Tuesday, July 19, 2011

O2 BEST BUSINESS PRACTICES > What’s the real value of the customer voice?


CMOs aspire to measure ROI with a growing awareness of the real value of the customer voice.

In our second annual marketing survey, we surveyed CMOs in The CMO Club about their use,
expectations, and measurement of social media, then compared the results to the previous year’s
survey. In short, 2009 marked the year CMOs embraced social media marketing but struggled to tie
their strategies to the bottom line. Many evaluated engagement metrics created from social media
— such as the number of click-throughs to the website or number of fans or followers — instead of
evaluating business metrics like revenues and conversion. In 2009, CMOs aspired to tie social to
the bottom line.
In 2010, CMOs reported similar challenges in tying social media to revenues. In 2011, revenues
remain critical, but the additional value of these consumer interactions — even beyond the site —
lies within the key insights customers share with brands. These aggregated insights, when analyzed
and put into action, create value far beyond the marketing organization, impacting products, vendor
relationships, and corporate strategic initiatives.


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