Digital technology plays a fundamental role in equipping brands with modern tools to attract consumers. However, the transition to a digital economy comes with greater implications for the brand’s long-term policy than many would appreciate. Reflecting on the major survey conducted on 1,000 CMOs globally and across the business, the Dentsu Aegis CMO Survey 2018 shows how brands are in a better position to engage consumers and win within a digital economy. The survey offers an exclusive picture of CMO sentiment through a variety of dimensions. Some major highlights include the future opportunities and risks, the key roles of data, and utilising the diverse marketing ecosystem.
The main highlights from the survey include global marketing budget trend, big data usage and innovation. The leading strategic opportunity for CMOs is using data to target the actual market people. China is on the lead in the global CMOs outlook on the blockchain, machine learning and artificial intelligence potential in driving efficient marketing expenditure (40%). Innovation is ranked last in the identification of the key marketing roles. CMO’s in Australia (56%) and China (63%) perceive marketing as a way to develop a general customer experience. Despite the quick and constant change in the marketing landscape, typical CMO outlook their role as driver of business growth.
Dentsu Aegis CMO Survey 2018 found that it is only through effective marketing that the goals get achieved. The advancements in technology in areas such as cloud storage, artificial intelligence and automation are of great business significance. Most companies acknowledged that technology acts as a catalyst in the marketing landscape which enables easy brands movement into other industries. Technology enables the creation of new experiences, rethinking and redefinition of the media, market targeting, embracing of an authenticated brand rationale and maximisation of client’s engagement value. From Dentsu Aegis CMO Survey 2018 findings, business involves interacting with agencies and huge volumes of data. Therefore, a firm ought to have practical frameworks to ethically and effectively manage the two.
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