CMOs from Chip, Deloitte Digital and Mindshare have contributed to a new report from the New Statesman Media Group, which reveals the five biggest talking points in boardrooms around the UK when it comes to marketing.
Evolving tech, balancing data and creativity, and breaking down the walls between functions all feature as CMO marketing trends.
FREE REPORT: TOP 5 TRENDS FOR CMOs
Insight into the latest skills needed for CMOs to succeed, with contributors including PensionBee, Mindshare and Deloitte.
The role of CMO is notoriously fragile. The 2022 Spencer Stuart survey found that the CMO’s average tenure was 40 months last year – the lowest for over a decade.
CEOs, meanwhile, remained in their roles for an average of 85 months.
It is fair to say marketing budgets are often the first c-suite budget to be cut and the last to be restored and this combined with the relative disposability of CMOs, means the modern marketer needs to be both savvy and justifiable.
There is good news on the horizon however. The 28th edition of The CMO Survey from Deloitte shows that marketing budgets are actually on the rise, up to 11.8% of total business outlay.
Plus, CMOs are getting better support. The same survey revealed companies are reporting an average increase in marketing job growth of 12.2% in the past year. This is expected to continue well into 2023.
And this latest report into CMO marketing trends also provides some welcome news.
Marketers need to keep on top of the technical evolution as martech continues to be a key part of strategy, with most of the CMOs interviewed feeling they could balance technology, data and creativity.
It certainly seems true that a combination of data, digital and tech knowledge will rarely be left out of a CMO job description in the future.
This article was originally published on Press Gazette.