Winning the Audience | CMO REPORT
In an era where social platforms, retailers, and technology partners are siphoning audience attention away from brands, and when consumer-brand interactions have become increasingly demanding and sophisticated, audience still matters most of all.
WINNING THE AUDIENCE: BY THE NUMBERS
A survey of 700 CMOs and senior marketers in the US, UK, Australia, Brazil, Canada, China, India, Italy, and Spain shows, the single biggest concern for CMOs now and in the future is owning and connecting with a rapidly evolving audience.
30%
For 30% of respondents ‘owning the customer relationship’ has been their focus for 2023 and will continue to be as they look forward to 2030.
28%
Tellingly, the other top three concerns for 2023 were all about engaging changing audiences, with ‘understanding and responding to changing consumer behavior’ scoring (28%), ‘representing more diverse audiences’ (28%), and ‘understanding and keeping up with new technology’ also at (28%).
77%
Adding to their audience woes, Gen Z is also keeping marketers up at night, with 23% of respondents worried about how to market to this demographic, rising to 32% in Italy. 77% of marketers agree that while consumer behavior has undergone rapid changes in the last five years, the agency model is yet to respond.
WINNING THE AUDIENCE: WHAT IT LOOKS LIKE
CUSTOMER FIRST, SECOND AND THIRD
When asked to prioritize their key concerns for 2023, the priority remains the consumer, amidst all manner of other disruptions and innovations. We also asked for their concerns looking ahead to 2030.
Amidst all the societal, economic, and existential challenges marketers face, the customer remains their number one priority now and in the future. The need to build direct relationships, to create and engage their own audiences, informs much of how today’s marketers are thinking about channels, platforms, and technology, particularly as they look towards a cookieless world where first-party data will be even more vital to their success.
As customer expectations rise, and behaviors and values shift, brands must evolve and engage or they risk being ignored, and worse made irrelevant.
While brand matters as much, or more, than ever brands today are built in new ways through compelling experiences, through connecting with culture, and through powerful and authentic actions. Brands today are what they do and where they show up.
Of course, there is ample evidence for ‘low involvement processing’; the idea that advertising does have to be consciously noticed to have an impact.
OUR WORKS…
Advertiser/Brand: Yum China / KFC
A Virtual KFC Store by DENTSU CREATIVE engages Gen-Z where they live, selling 180M virtual meals. Within one year, KFC Re:Store welcomed 4.2 billion visitors, generating 1.95 billion interactions.
CLICK TO LEARN MORE
KFC Re:Store takes home Cannes Lions for Creative Commerce!!!
WHAT IT MEANS FOR BRANDS AND BUSINESSES…
INNOVATE OR BE IGNORED
Showing up in the spaces and places that matter most to a new generation of customers is no longer a nice to have or an experiment. It has become the only way to connect with these audiences in a meaningful way.
DESIGN FOR NETWORKS, NOT INDIVIDUALS
While it’s tempting to think that building an audience means focusing one to one relationships, for a generation raised on social commerce, world building and micro-influencers the true power is one to many. Empowering customers with the tools to engage their networks on brands’ behalf is a powerful social accelerator.
DEFINE YOUR AUDIENCE VALUE PROPOSITION
In a world where every brand craves a direct relationship with the customer, ask yourself what unique value or reward are you offering in exchange for their time and their data, be that exclusive content, community dynamics or limited edition products?
This article is part of DENTSU CREATIVE’s 2023 Global CMO Report, ‘Creativity at a Crosswords’. Using data from a survey of 700 CMOs and senior marketers in the US, UK, Australia, Brazil, Canada, China, India, Italy, and Spain, the report has identified eight key themes which show that despite being an industry at a crossroads, it is one empowered by creativity and technology.
For full report, please visit DENTSU CREATIVE global website below.www.dentsucreative.com/news/CMO-report-2023-download
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