Connected People | CMO REPORT
With new challenges and opportunities coming thick and fast, CMOs don't have time for silos or boundaries. They want their agency partners to connect the right talent at the right moment, wherever it sits.
DENTSU CREATIVE’s 2023 CMO Report: Creativity at a Crossroads illustrates that marketers are no longer prepared to settle for brand or performance, global or local, efficiency or expertise, they want the best of both. We see this in the kinds of work they believe will have the most impact, their call for more collaboration in their own business, and in the relationship they want with their agency partners.
CONNECTED PEOPLEBY THE NUMBERS…
83%
83% believe brands benefit from consolidating their efforts with one agency holding company, acknowledging the power of the network in a data and technology driven world.
Yet 85% of marketers also value the diversity of thought that comes from partnering with multiple agencies, calling out the flexibility and agility of local partners.
86%
It therefore becomes the network’s challenge to find intelligent ways to balance competing imperatives in a world where 86% of marketers agree they want their agencies to connect the right talent around the right brief, wherever it sits (inside the network or beyond).
Successfully navigating these demands requires agencies to adopt a much more fluid approach to talent and expertise, enabled by tech, incentivized by the right financial models, and most importantly by a spirit of radical collaboration, generosity, and curiosity.
77%
Similarly, when it comes to brand and performance, we see some extraordinary data. 77% of CMOs agree that we need to recommit to brand, 35% agreeing “strongly”.
75%
75% agree that we need to double down on performance, with 33% agreeing “strongly”. Of course, there are significant local nuances—China, Brazil, and Italy are significantly more likely to agree that now is time to focus more on brand.
The US is most likely to agree with the statement “I often have to focus on the short term to the detriment of the long term”, at 88%. Nevertheless, there is a prevailing sense that either/or is no longer good enough.
CONNECTED PEOPLEWHAT IT LOOKS LIKE…
BALANCING BRAND AND DEMAND
When it comes to Brand vs Performance, CMOs are clear that there can no longer be a question of either/or.
At a global level, CMO’s agree in almost equal measure that the industry needs to double down on performance and recommit to brand. While individual market nuances explain some of this apparent contradiction, perhaps the larger point is that we must avoid the dangerous middle ground where we do neither wholeheartedly.
In a media landscape with so many different opportunities both to build powerful brand emotion and to use data to personalize and convert why settle for a halfway house?
Better still, why not embrace new possibilities to connect compelling content and effortless transaction as never before?
OUR WORKS…
THE EVERYTHING BOOK
Brand: VEDANTU
Creative Agency: DENTSU CREATIVE India & Portugal
With a vision to democratise education, Vedantu, India's e-learning platform, wanted to connect the disconnected kids to the opportunities they deserve.
DENTSU CREATIVE teams in India and Portugal collaborated and co-developed The Everything Book with a group of educators, technologists and artists who shared a passion for improving education.
Operating as an internet signal aggregator, this innovation combines weak 2G signals around it to form one strong Hyperspot giving these kids access to Vedantu’s curriculum for free. It provided an endless learning environment and made education accessible to all.
TAP TO LEARN MORE: www.dentsucreative.com/cases/the-everything-book
WHAT IT MEANS FOR BRANDS AND BUSINESSES...
CONNECTED TALENT
CMOs want the ease of one, the power of many. The perfect team for today’s fast-changing and volatile world does not exist; the businesses and brands that can connect the right talent in the right moment or can connect surprising talent to unlock new outcomes will thrive.
INTELLIGENT SCALE
In a world of global brands and intelligent automation, scale is no longer about the number of points an agency has on a map, but its ability to use data and technology to deliver impact and consistency in the most efficient way possible.
INTEROPERABLE, NOT IDENTICAL
With access to great talent and agile teaming, one size doesn’t have to fit all. Modern agencies will connect centers of excellence and centers of delivery leveraging shared systems and platforms but without sacrificing local flair, originality, and character.
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.
Our report helps you understand how your business, brand, and investment strategies compare with other CMOs. Are you in step with peers around the industry or carving your own path? Are there areas where you’re investing ahead of the industry or others where you may be lagging?
For full report, please visit DENTSU CREATIVE global website:
www.dentsucreative.com/news/CMO-report-2023-download
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