Do Midmarket Companies Lack Integrated Digital Strategy?

An IBM (NYSE: IBM) global study of C-Suite leaders uncovers a surprising fact about small and midsize companies: they may not be as digitally savvy as they’d like.

Specifically, midmarket CMOs want to put all the components of a strong digital strategy in place.

These components include an increased focus on integrating cross channel touchpoints, analytics to capture customer insights, social networks to foster collaboration, and mobile and cloud to achieve advanced operational efficiencies and attract new customers.

The survey’s top findings include:

• More than half of midmarket companies lack an integrated digital strategy.
• 65% of the midmarket C-Suite business executives recognized that the lack of a cohesive social media plan is the biggest barrier to doing more in the digital space.
• More than half of respondents also cite the need to better understand how social media fits with other operational priorities, and how to measure its return on investment.

Midmarket CMOs aren’t alone in their desire to create an integrated digital strategy. The majority of midmarket CIOs surveyed say they aim to digitize their front offices within the next few years as part of an overall effort to focus more on the customer experience.

[ Also Read: Can Social Media Help a Small Business? ]

This digitization includes analyzing data generated from customer interactions via social channels and mobile devices, and identifying emerging trends.

IBM surveyed more than 300 midmarket C-Suite business executives worldwide on a variety of business issues, including the expanding role of customer engagement, organizational management, marketing and economic priorities, and future strategic growth plans.

The study revealed an environment where technology has become the dominant driver of business change, and leaders are moving quickly to open up their organizations. As a result, business leaders are confronting an urgent need for deeper and more meaningful types of collaboration. The study findings were released today, Nov. 21.