here

Learn how to unleash the potential of your brand and read the ‘Brand Unchained’ report for expert commentary and insights

The age 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?

%

EY 2020

82

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

69

68

of consumers spend quite a lot of time researching products before making a significant purchase

Brand trust

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

64

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

51

GfK Consumer Life Study, 2020

42

But they must be prepared

“CMOs need to be armed with knowledge about how brands are contributing to sales and attracting customers”

58

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

Dentsu 2020

As custodians of the customer, CMOs are primed to take centre-stage and redefine business strategy

Shifting marketing spend to digital

22%

42%

Prepared CMOs are prioritizing the customer in their strategies

26%

40%

Prepared CMOs

Moving toward ecommerce

Unprepared CMOs

Investing in consumer experience

25%

44%

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

IPA 2020

x

8

the average during the recovery phase

Brands that invested in growing excess share of voice by

4

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

40

of marketers say digital transformation is a key priority post-Covid-19, but only...

39

56

GfK , APAC 2020

41

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

35

Determining what consumer behavior is temporary versus permanent

43