Small Businesses Lack an Integrated Digital Strategy
More than half of respondents cited the need to better understand how social media fits with other operational priorities, and how to measure its ROI.Small and midsize businesses may not be as digitally savvy as they would like, according to a global study of more than 300 C-Suite leaders by technology giant IBM. The survey found more than half of midmarket companies lack an integrated digital strategy, and 65 percent 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. In addition, more than half of respondents also cited the need to better understand how social media fits with other operational priorities, and how to measure its return on investment. "Understanding what resonates well with these customers can bring valuable insights to the development of new products, services and promotions, enabling smaller businesses to break through in this challenging and influential segment," John Mason, general manager of IBM Midmarket Business, said in a statement. "Smaller companies which use their agility to place customers front and center in their ecosystem, embrace cloud, social and engagement marketing strategies could end up huge winners."
The survey indicated companies that have successfully fused the digital and physical, including big data analytics, mobile and cloud, to achieve transformation were 26 percent more likely to outperform their rivals.