IBM Survey Shows Limited Use of Social Media Websites for Corporate Market Research

A recent IBM survey revealed that rapid growth of all the consumer data available on social network sites are making it hard for marketers to control them.

Even though marketing chiefs are happy to find growing data for customers on Facebook and Twitter, they are not fully equipped to harness the information.

The result of the survey showed that 82 percent of marketing chiefs rely on traditional market research methods to create marketing strategies, whereas only 29 percent track blogs and 40 percent follow the online communication.

Very few consumer brands with the exception of Coca Cola, Starbucks and Nike use high-profile social media campaigns to learn about the needs of their customers and to effectively communicate with them.

The survey, which gathered data from February to June, interviewed 1,700 CMO’s. During these interviews, 82 percent of marketing chiefs have plans to increase their use of social media. A CMO of a consumer-products firm said during the survey related interview that, “The perfect solution is to serve each consumer individually. The problem? There are 7 billion of them.”