CMO Study: How Brands win in the digital economy
The Dentsu Aegis Network report draws on a survey of 1,000 CMOs from across our top 10 markets and key verticals. It sets out the strategic context facing CMOs, the key capabilities needed to maximise the value of consumer engagement and further challenges to winning in the digital economy.
Key findings are:
- Marketing spend is expected to increase across most markets and industry verticals—technology CMOs are most likely to be increasing spend; food & beverage and automotive CMOs are most likely to be cutting their budgets. Within that context, using data to target real people, rather than proxies, is the #1 strategic opportunity for CMOs—but a data breach is also the #1 risk.
- 60% believe that GDPR will make it harder to build a direct relationship with the consumer, while a similar proportion (61%) say that while more data is available now, it is harder to extract insight from it.
- While in the short-term budgets are generally increasing, securing long-term investment is the biggest challenge facing CMOs in the delivery of their strategy.
- Only one-third of CMOs see driving innovation as a key part of their role—putting their future ability to meet the demands of the digital economy at risk.
- The report identifies five ‘perfect marketing moments’ that leading brands are using to win the battle for consumer attention: create experiences; target real people; rethink media; close the brand commerce gap; and embrace authentic societal purpose.
Download the study from here.