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of the CMO
2020 was a valuable lesson in business resilience and agility around the world, shedding light on companies' readiness to drive growth in a challenging environment. Exploring how brands can combat the consequences of the pandemic and other prevalent market forces head on, this infographic focuses on the CMO and their increasingly critical role in achieving business success. How can CMOs ensure they are at the forefront of business strategy; anticipating and overcoming a myriad of challenges in our rapidly changing world?
of executives indicate that customers are as important as, or more important than, shareholders when formulating strategy
Looking beyond Covid-19, business strategy gets an overhaul, positioning the customer as the ultimate stakeholder
GfK Consumer Life Study 2020
Purchases with a purpose
of consumers spend quite a lot of time researching products before making a significant purchase
of customers prefer to buy from brands that align with their personal beliefs, values or ideals
To compete, brands will therefore need to meet - and exceed - customers' demands
Rise of the informed customer
of people only buy products or services from a trusted brand
of customers believe virtual interactions with people and places can be as good as being there in person
Quality virtual experiences are key to ensuring brands remain accessible
GfK Consumer Life Study, 2020
But they must be prepared
“CMOs need to be armed with knowledge about how brands are contributing to sales and attracting customers”
of CMOs who do not feel prepared
of CMOs around the world feel well-equipped to steer their businesses through the next six to twelve months vs.
Gonzalo Garcia Villanueva, Global CMO at GfK
As custodians of the customer, CMOs are primed to take centre-stage and redefine business strategy
Shifting marketing spend to digital
Prepared CMOs are prioritizing the customer in their strategies
Moving toward ecommerce
Investing in consumer experience
To be prepared and to steer their brands in the right direction CMOs must keep their businesses front of mind and anticipate the customer to overcome these challenges
But with such an array of ever-changing demands, what should companies prioritize?
Investing in long-term brand building boosts market share
the average during the recovery phase
Brands that invested in growing excess share of voice by
in the 2008-9 downturn...
Brand growth in market share
Increased market share by more than
of marketers say brand positioning and marketing is a top priority for them, but only...
Along with brand positioning to keep consistency across multiple touchpoints
have marketing mix modelling in place
of this group are leveraging brand health trackers to gain a fuller picture of their brand
Visibility is key to understanding the customer in volatile markets
of marketers say digital transformation is a key priority post-Covid-19, but only...
GfK , APAC 2020
Declining consumer spending
CMOs' top challenges for the next 6-12 months
But following a volatile year for consumer behaviour and trends, several challenges remain a concern in 2021
Aligning with new and changing customer sentiments
Determining what consumer behavior is temporary versus permanent