The Chief Marketing Officer role has gotten very serious. What can you do to help someone who, over the last decade, has careened from creative guru to media maestro to tech nerd to data scientist ... and now ALL of these?
Your company's Marketing promises and Technology capabilities have never been closer.
Here are some stats on what CMOs are focusing on. These are from a mix of our own observations, Adage, The Drum, The CMO Survey, and the annual Dentsu Aegis CMO Study, of over 1000.
FYI, see our list of the 8 best ways for service partners (Agencies, Consultants, etc) to take action on the below reality check and increase their OWN BizDev.
Here is what CMOs are saying:
> 92% of senior marketers intend to maintain or increase their internal digital prowess.
> 41% of chief marketing officers anticipate an increase in the work they do with agency partners.
> Only 43% agree that agencies do a good job of providing fully integrated solutions. Only 36% believe agencies are ‘good’ collaborators when it comes to driving long-term executions.
> Brands perceive agencies’ core strengths as offering consumer insight, bringing creativity to the table and giving access to talent.
> There will be more in-house direct investment in tech platforms and social media marketing.
> With sluggish market growth and the rise of adtech fuelling a demand for measurable ROI and optimisation, 64% of marketers expect to see “more pressure” to demonstrate tangible results in the next two to three years.
> Planning, on average, is only 2 years out. So, short-termism is a problem for media efficiency, and creative brand positioning. Management Consultants are already on the inside and increasing full service capabilities (mostly by buying Agencies and hiring those that can walk the straighter walk).
> 44% concerned that expectations may reach a point where brands will struggle to deliver.
> 75% identify better internal integration as a critical element in successful customer engagement and 40% cite their own lack of integration as a challenge in delivering on current strategy. 28% identify a lack of integration from their agency as an issue.
> On top of all of this, 79% believe they must transform, not just optimise, their businesses through digital technologies to keep up with the people who buy their products.
So, who is helping you with the these "digital technologies?"
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