In the recent Dentsu Creative 2024 CMO Report released by Dentsu, it is revealed that 88% of CMOs believe that it is increasingly important for brands to be integrated into culture, and 78% consider creating entertainment properties crucial to their marketing strategy. However, 74% find it challenging to connect their brand with culture, and 73% struggle with telling brand stories in innovative formats such as entertainment, experience, or action. Additionally, 77% acknowledge that building a brand in an era where broadcast media is diminishing in relevance presents a significant challenge.
The report was made after an annual global survey with 950 CMOs as its sample size across 14 markets in a range of sectors and in companies with 250+ employees. The survey was conducted throughout the month of April in 2023
“The 2024 CMO Report unveils how creativity and tech are reshaping the marketing landscape. Storytelling remains crucial, with generative AI emerging as a creative ally. While others strive to keep pace, Dentsu Creative is setting new benchmarks, crafting solutions that redefine how brands engage and resonate.” Amit Wadhwa, CEO, South Asia, Dentsu Creative, commented.
The report also states that 81% of CMOs opined that creativity is more crucial to marketing than ever before. Furthermore, 83% of CMOs agree that creativity is essential for driving customer experience (CX) transformation, and 80% believe that a creative approach is crucial for addressing sustainability challenges in business. 41% of surveyors are investing in branded content with influencer partnership cutting a close second at 37%. Only 33% CMOs favour user generated content and only 21% are in favour of making documentary content, as per the report.
“At dentsu, we’re not just watching this transformation from the sidelines; we’re crafting the playbooks and remixing the rules. This year’s report is the ultimate guide to conquering the Marketing X Tech X Consulting frontier. Embrace the chaos, think audaciously, and lead the charge.” Harsha Razdan, CEO, South Asia, Dentsu, said.
Additionally, the report further delves that 77% of CMOs believe that future brand marketing will increasingly involve partnerships between brands, creators, and platforms. 71% view collaboration with celebrities as a powerful means for brands to remain culturally relevant. Moreover, 75% consider influencer marketing to be a crucial component of the contemporary media landscape, and 80% see earned attention as an increasingly significant element of the marketing mix.
On customer experience, 79% of CMOs agree that brands are now built through experiences, and 75% believe that every touchpoint, from communications to commerce, must convey the brand story. Furthermore, 63% feel that technologies like live streaming have blurred the lines between content and commerce, while 80% think that digital experiences will become increasingly crucial in physical retail environments.
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