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1、Wave 03:Transforming the business to enable new responses to the marketMay 2023CMO|NavigatorCMO Navigator Wave 3 May 2023About the CMO NavigatorAt dentsu,were committed to helping marketers prepare their brands for whats next.Which is why,in an effort to help marketers navigate a fast-changing envir

2、onment by anticipating whats around the corner,we decided to evolve the Dentsu Navigator platform to not only equip CMOs with insights on shifting consumer sentiment but also with an understanding of how their peer set is thinking about tackling the business challenges facing them.The CMO Navigator

3、is a twice-a-year survey and report(Spring&Fall)that focuses on the mindset,challenges and strategies of North American marketing leaders as they plot their path to the future.The Spring 23 edition was administered through B2B International to 600+marketing leaders in the United States and Canada in

4、 March 2023.This report also leverages insights from the Dentsu Consumer Navigator,a monthly survey of 1,000+U.S.respondents.Bringing consumer insights into the CMO Navigator report allows us to gauge how aligned(or not)CMOs and consumers are on a range of topics.Its our version of“family feud.”Star

5、ting with our Fall 22 wave of the CMO Navigator,we found a majority of CMOs being concerned about a possible recession but remaining optimistic about an improved economic outlook and marketings increasingly elevated role in shaping it.Since economic uncertainty has persisted,were using the Spring 23

6、 wave to explore if CMOs optimism in the future and in marketings role as a strategic driver of business growth has persisted.CMOs had previously indicated that they were turning to innovation as a way to respond to the challenges presented by the current economic environment.This is why in this rep

7、ort,we focus on CMOs attitudes toward innovation,aiming to understand what are the actions they take,the investments they make,and the individuals and partners they turn to in order to further their organizations innovation muscle.And given the meteoric rise of AI-igniting heated public discussions

8、about the potential implications for businesses and society we decided this would be a good time to explore CMOs attitude towards the technology,including the current level of adoption and the future significance CMOs assign to AI.Finally,our previous CMO research in 2022 had identified the emergenc

9、e of a new breed of marketer,the Perceptive CMO,who lives at the intersection of consumer wants and business needs.In this report,we revisit the concept to validate whether these marketing leaders are more successful than their peers and,specifically,what sets them apart in their approach to innovat

10、ion.Dirk HerbertChief Strategy Officer,AmericasCMO Navigator Wave 3 May 2023Executive SummaryWhile acknowledging an uncertain economic environment,CMOs remain optimistic about the future.While 2 in 3 CMOs concur with consumers that there is a recession,the general optimism we had noted 6 months ago

11、persists.CMOs optimism is fueled by growing revenues,expectations of increasing budgets for most,and a perception of marketing as an increasingly important business function.While acknowledging the current economic environment,CMOs are less likely to say it has negatively impacted their organization

12、s than 6 months ago,fueling a sense of preparedness.Most CMOs continue to prioritize investment&optimization strategies over cost-cutting to respond to the economic environment.Preoccupied with aligning with new and changing consumer sentiment,half of CMOs are mostly pursuing new strategies to respo

13、nd to the economic environment.Rather than cutting costs,most CMOs are planning to reach consumers at this time by either increasing investments or optimizing their resources.However,almost half of CMOs question their organizations ability to implement the strategies they consider crucial to thrivin

14、g in this environment.CMOs pursue innovation by improving their understanding of customer needs&adopting emerging technologies,like AI.Almost 2 out of 3 CMOs consider innovation extremely important.However,half of them are unsatisfied with the effectiveness of their innovation efforts to date.Most C

15、MOs prioritize enhancing their understanding of customer needs and adopting new technologies to improve their ability to innovate.This focus on customers and tech is reflected in CMOs views on the impact of AI and its adoption and their alignment with consumers on brands responsibilities towards its

16、 use.Perceptive CMOs ground their success in living at the intersection of consumer wants and business needs.Perceptive CMOs are more closely aligned to consumer sentiment than their peers on the direction of the economy,on AI being the future and on brands responsibilities when it comes to its use.

17、Marketing organizations led by Perceptive CMOs are fairing better in terms of revenues and budget increases.Perceptive CMOs are more likely to consider their innovation efforts to date effective,having invested more in adopting emerging technologies and making innovation an organizational priority.W

18、ho we spoke with:Business Breakdown399211CMOs in the U.S.CMOs in Canada19%66%14%Start up()Brand Lifetime(By#of Years in Business)27%31%42%B2CB2BB2C&B2BBusiness Model45%31%24%SMB()Organization Size(By#of Employees)CMO Navigator Wave 3 May 2023CMO Navigator Wave 3 May 2023Who we spoke with:Industry Br

19、eakdown399211CMOs in the U.S.CMOs in CanadaRetail13%Manufacturing/Industrial17%Professional Services&Business Services8%Finance&Insurance9%Internet Services&Software16%Automotive3%Food&Beverages3%Transportation&Travel2%Media&Entertainment3%Consumer Electronics2%Pharmaceuticals&Healthcare1%Energy3%Lu

20、xury&Fashion1%Telecoms16%Others3%Contents0101CMOs Positive Outlook Despite Continued Economic Uncertainty02Confidence in Marketing as a Change Agent03Innovating for Customers,Through Emerging Technology04Preparing for AIs Impact05At the Forefront of Innovation:Perceptive CMOs06Key Brand Implications

21、CMO Navigator Wave 3 May 20232 in 3 CMOs think there is a recession,signaling a more negative assessment of the economic environment compared to 6 months ago.CMO Navigator Wave 3 May 20236%2%26%35%32%14%12%20%33%21%The economy is doing just fineThe economy is experiencing a slight downturn andthere

22、wont be a recessionThe economy is experiencing a significant downturn,but there wont be a recessionThe economy is at the beginning of a recessionThe economy is already in a recessionWhich of the following best reflects your assessment of the economic environment in your country?H2 2022H1 202367%CMOs

23、 think there is a recession+13 ptsCompared to H2 2022CMOs&consumers are aligned in their assessment of the economic environment.CMO Navigator Wave 3 May 2023CMOsWhich of the following best reflects your assessment of the current economic environment in your country?CONSUMERS32%The economy is already

24、 in a recession33%35%The economy is at the beginning of a recession28%26%The economy is experiencing a significant downturn,but there wont be a recession19%2%The economy is experiencing a slight downturn,and there wont be a recession.12%6%The economy is doing just fine.8%61%Consumers think there is

25、a recession67%CMOs think there is a recession31%Consumers think its only economic downturn28%CMOs think its only economic downturnHowever,CMOs are more optimistic about the direction of the economy going forward than consumers.CMO Navigator Wave 3 May 2023CMOsWhich of the following best reflects you

26、r assessment of the direction the economic environment will take in your country over the next 6 to 12 months?CONSUMERS3%The economy will get significantly worse14%13%The economy will get somewhat worse27%16%The economy will remain the same22%36%The economy will get somewhat better24%32%The economy

27、will get significantly better12%41%Consumers think the economy will get worse16%CMOs think the economy will get worse59%Consumers think the economy will remain the same or get better84%CMOs think the economy will remain the same or get betterWhile most of both consumers and CMOs say the economy will

28、 either remain the same or get better,consumers are more likely to say it will get worse.CMOs perspective on the future direction of the economy can vary by industry and geo.CMO Navigator Wave 3 May 2023OptimistsPessimistsU.S.CMOs(119i);Telco(181i)+Internet Services&Software(128i);B2B(112i);Canada C

29、MOs(100i);Professional&Business Services(200i);B2C(166i);AGREE:The economy will get significantly BETTERAGREE:The economy will get significantly WORSECMOs are slightly more optimistic in their 12-months economic outlook vs.last year.CMO Navigator Wave 3 May 20238%10%82%14%9%77%13%10%77%PessimisticAm

30、bivalentOptimisticH1 2022H2 2022H1 2023Sentiment towards 12-month economic outlookFewer CMOs report the economic environment having a negative impact on their business currently vs.the second half of 2022.CMO Navigator Wave 3 May 202327%40%23%8%2%27%34%28%9%2%Has helped our businessHas had little ef

31、fect on our businessHas somewhat negatively affected our businessHas significantly negatiely affected our businessIs an existential threat to our organizationImpact of the current environment on your business prospectsH2 2022H1 202333%CMOs said the economic environment had a negative impact-6 ptsCom

32、pared to H2 2022CMOs optimism is reinforced by a sense of organizational preparedness for the economic environment.CMO Navigator Wave 3 May 2023Possibly due to measures taken in the last two years to respond to previous crises,almost all CMOs consider their organizations prepared,and nearly half con

33、sider them well prepared.This sense of preparedness is consistent with what CMOs reported in the second half of 2022.51%45%WELL PREPAREDSOMEWHAT PREPAREDSense of organizational preparedness for the the economic environment96%PREPAREDNo change compared to H2 2022The number of CMOs expecting budget in

34、creases has been trending downward for the last 12 months.However,increasing budgets are still expected by as many as 2 out of 3 CMOs.CMO Navigator Wave 3 May 20231%8%9%2%13%18%26%17%5%0%2%3%5%13%29%33%12%4%0%2%1%2%10%32%33%16%3%Decline by more than 20%Decline between 10 and 20%Decline between 5 and

35、 10%Decline by up to 5%Stay flatIncrease up to 5%Increase between 5 and 10%Increase between 10 and 20%Increase more than 20%Expected Marketing Budget Change in the Next 12 MonthsH1 2022H2 2022H1 202384%CMOs expecting budget increases in H1 202278%CMOs expecting budget increases in H2 202266%CMOs exp

36、ecting budget increases in H1 2023Next year,CMOs will Next year,CMOs will be implementing an be implementing an even mix of growth even mix of growth strategies.strategies.Investment in marketing continues across the board,despite concerns over a recession.However,CMOs who believe the economy is fin

37、e are even more likely to be trusted by their organizations with increasing budgets than those who think there is a recession.CMO Navigator Wave 3 May 20231597%71%CMOs who believe the economy is fineCMOs who think its only economic downturnExpected budget change in the next 12 months62%CMOs who thin

38、k there is a recessionINCREASING BUDGETGoing into the first half of 2023,there is an indication of slowdown in business results as fewer CMOs report revenue increases compared to 6 months ago.CMO Navigator Wave 3 May 2023While almost 2 in 3 CMOs report revenue increases,the economic environment seem

39、s to have created a bifurcation between brands that are growing and those that are not:both the number of CMOs reporting revenue increasing by more than 5%and the number of CMOs reporting revenue declining by more than 5%are higher compared to last year.68%CMOs reported experiencing revenue growth i

40、n H1 202273%CMOs reported experiencing revenue growth in H2 20222%19%5%10%25%29%10%2%7%9%9%38%27%8%2%7%11%12%37%24%7%Decline by more than 10%Decline between 5 and 10%Decline up to 5%Stayed flatIncreased by up to 5%Increased between 5 and 10%Increased more than 10%Revenue change in the last 12 months

41、H1 2022H2 2022H1 202364%CMOs reported experiencing revenue growth in H1 2023CMO Navigator Wave 3 May 2023What percentage of your overall resources do you allocate to the following type of initiatives?BRAND(initiatives that intersect culture to build and strengthen brand awareness,equity and affinity

42、)27%avg.27%avg.PRODUCT&DEMAND(initiatives to develop new ways to stimulate,capture and respond to customer demand,including new product development)26%avg.26%avg.CUSTOMER EXPERIENCE(initiatives to evolve and enrich the ways that the business connects with,provides services to&builds relationships wi

43、th customers)25%avg.25%avg.BUSINESS TRANSFORMATION(initiatives that drive new business models,go-to-market strategies and organizational processes and structures)22%avg.22%avg.CMOs are investing across the board when allocating their marketing resources.While brand-focused initiatives garner slightl

44、y more focus,investment is spread out quite evenly among all areas.CMO Navigator Wave 3 May 2023Most marketers continue to respond to the economic environment with optimism.While more 2 in 3 CMOs agree there is a recession,a majority believe the economy will get better in the next 6 to 12 months.Thi

45、s optimism is grounded in the fact that the current economic environment hasnt negatively impacted brands as much as it had been reported 6 months ago.CMOs sense of preparedness toward the economic environment is grounded in business performance.Almost all CMOs who took part in our study feel their

46、organizations are prepared to face the economic environment,with more than half of them saying they are well prepared.This is grounded in growing revenues for almost 2 out of 3 CMOs.Investment in marketing continues across the board,with a particular focus on brand.2 in 3 CMOs expect their budgets t

47、o increase.This sentiment is more pronounced among CMOs who believe the economy is fine,but it is shared by all.When allocating their overall resources,CMOs are prioritizing brand-focused initiatives.Contents0101CMOs Positive Outlook Despite Continued Economic Uncertainty02Confidence in Marketing as

48、 a Change Agent03Innovating for Customers,Through Emerging Technology04Preparing for AIs Impact05At the Forefront of Innovation:Perceptive CMOs06Key Brand ImplicationsCMO Navigator Wave 3 May 2023Next year,CMOs will Next year,CMOs will be implementing an be implementing an even mix of growth even mi

49、x of growth strategies.strategies.The number of CMOs who believe marketing has grown in importance over the last 2 years continues to increase.CMOs reporting how the importance of the Marketing function has changed over the last 2 years4%22%74%3%24%72%3%28%68%DecreasedRemained the sameIncreasedHi 20

50、22H2 2022H1 2023CMO Navigator Wave 3 May 2023Marketings role as a driver of business performance is reflected in the broad number of business metrics CMOs are now held accountable for.CMO Navigator Wave 3 May 202319%36%38%41%42%45%56%68%Driving efficienciesReducing costs(eg.of customer acquisition,e

51、tc.)Medium/long-term brand healthCustomer satisfaction&advocacyDelivery of digital transformation programsShort-term sales/revenue growthProduct/service innovationGrowth of customer baseBusiness results you are primarily accountable forU.S.CMOs are more likely to be chartered with product/service in

52、novation and revenue growth,while Canadian CMOs are more likely to be accountable for customer satisfaction and brand health.CMO Navigator Wave 3 May 2023ALL ALL CMOsCMOsUnited United StatesStatesCanadaCanadaGrowth of customer base68%68%67%69%Product/service innovation56%56%60%48%Short-term sales/re

53、venue growth45%45%51%32%Delivery of digital transformation programs42%42%41%44%Customer satisfaction&advocacy41%41%39%45%Medium/long-term brand health38%38%36%43%Reducing costs(e.g.of customer acquisition)36%36%38%33%Driving efficiencies19%19%19%19%Business results you are primarily accountable forC

54、MOs look to increase focus on business transformation&disruptive innovation.CMO Navigator Wave 3 May 2023Asked about the role of marketing,CMOs are more likely to indicate these two areas as a future focus than their peers last year.Primary role of marketing function:next 12 months H2 2022 results v

55、s.H1 2023 results5%16%30%40%27%31%39%37%45%5%15%24%35%36%37%40%42%46%Advising on distribution strategiesSupporting pricing/price optimizationLeading disruptive innovationDelivering business transformationDeveloping new products/servicesUnderstanding consumer/market trendsDeveloping the overall custo

56、mer experienceEnsuring effective brand managementDelivering business growthNext 12 months(H2 2022)Next 12 months(H1 2023)When indicating their TOP INTERNAL challenge,securing sufficient investment has become more of a priority for CMOs in the current economic environment.CMO Navigator Wave 3 May 202

57、32%6%7%8%9%9%9%10%11%16%9%8%9%10%7%7%9%10%10%12%Inability to accurately measure marketings impactLack of modern data and technology capabilitiesDecreasing marketing budgetInability to transform the business quick enoughLack of integration from the marketing agencies we work withInsufficient control

58、over digital investments or programs across theorganizationLack of insights into shifting consumer behaviors and attitudesCompeting agendas with other C-Suite leadersLack of internal talentSecuring sufficient investmentH1 2022H1 2023Top internals challenges indicated by CMOs in H1 2022 vs.H1 2023How

59、ever,they are more confident in measuring marketings impact than they were a year ago.When it comes to EXTERNAL challenges,CMOs are most concerned about aligning with new and changing consumer sentiment.CMO Navigator Wave 3 May 2023Compared to last year,managing changes to the workforce and disrupti

60、ons to the supply chain are perceived to be less pressing challenges.Despite the economic environment,fewer CMOs indicated declining consumer spending as a key challenge compared to the second half of 2022.12%15%17%23%24%29%30%33%42%43%17%22%39%27%39%51%37%42%39%13%21%40%33%37%49%34%41%35%Digital-na

61、tive new players better positioned to monetize emerging habitsDisruption of my category by new competitorsIneffectiveness of advertising in a new media landscapeDisruptions to the supply chain and ability to fulfill demandInability to react quickly enough to market changesObtaining the right data to

62、 make timely and appropriate decisionsManaging changes to the workforceDeclining consumer spendingUnderstanding what is a temporary vs permanent change in consumersAligning with new/changing consumer sentimentH1 2022H2 2022H1 2023External challenges CMOs expect to face over the next 6-12 monthsNEWCM

63、O Navigator Wave 3 May 2023External challenges CMOs expect to face over the next 6-12 monthsMANUFACTURING MANUFACTURING&INDUSTRIAL&INDUSTRIALINTERNET INTERNET SERVICES&SERVICES&SOFTWARESOFTWARETELECOMTELECOMRETAILRETAILFINANCE&FINANCE&INSURANCEINSURANCEPROFESSIONAL&PROFESSIONAL&BUSINESS BUSINESS SER

64、VICESSERVICESTOP MENTIONDisruption to the supply chain and ability to fulfill demand(148i)Understanding what is a temporary shift in consumer behavior vs.a permanent change Aligning with new/changing customer sentiment(160i)Aligning with new/changing customer sentimentUnderstanding what is a tempora

65、ry shift in consumer behavior vs.a permanent changeDeclining consumer spending(124i)SECOND MENTIONInability to react quickly enough to market changes+Managing changes to the workforceAligning with new/changing customer sentimentUnderstanding what is a temporary shift in consumer behavior vs.a perman

66、ent change(150i)Understanding what is a temporary shift in consumer behavior vs.a permanent changeManaging changes to the workforceManaging changes to the workforcePerceptions of EXTERNAL challenges vary by industry sectors.CMOs at Manufacturing/Industrial brands are more likely to indicate supply c

67、hain issues as their top challenge,while CMOs in Telcos over-index on pointing to aligning with new/changing customer sentiment and understanding changes in consumer behavior.CMOs at Professional and Business Services companies are more likely to indicate declining consumer spending as a key issue.C

68、MO Navigator Wave 3 May 202350%2%WE ARE MOSTLY USING STRATEGIES WE USED IN THE PASTExtent to which the response to the economic environment is based on strategies pursuedduring past economic downturn48%50%of CMOs are exploring new strategies vs.established approaches to adjust to the current economi

69、c environment,WE ARE MOSTLY USING NEW STRATEGIESWE ARE USING A MIX OF PAST AND NEW STRATEGIESU.S.CMOs:56%Canada CMOs:38%U.S.CMOs:42%Canada CMOs:61%U.S.CMOs:2%Canada CMOs:1%To address the economic environment,most CMOs continue to prioritize investment and optimization strategies rather than saving s

70、trategies.CMO Navigator Wave 3 May 2023INVESTMENT STRATEGIESOPTIMIZATION STRATEGIESSAVING STRATEGIESInvesting in improving our digital customer experience22%22%-5Optimizing prices for products and services20%20%-5Reducing budget for growth initiatives13%+1Increasing budget for innovation-focused ini

71、tiatives21%21%+2Shifting marketing spend to CRM/retention/loyalty17%-1Reducing our media spend12%+2Hiring more talent21%21%+2Re-negotiating contracts with existing vendors16%-1Reducing budget for innovation-focused initiatives11%=Increasing budget for growth initiatives20%20%-5Brand consolidation13%

72、=Reducing investment in direct sales channels10%-1Increasing investment in direct sales channels16%-3Enable differed payments for products/services12%+1Off-shoring a greater number of operational activities10%+1Increasing our media spend14%-3Roll out cheaper alternatives to existing products/service

73、s11%-2Reducing headcount8%-1AVERAGE IMPORTANCE FOR INVESTMENTINVESTMENT19%-1AVERAGE IMPORTANCE FOR OPTIMIZATIONOPTIMIZATION15%-1AVERAGE IMPORTANCE FOR SAVINGSAVING10%=Most important strategies to achieve organizational objectives,given the economic environmentH1 2023 +/-H2 2022H1 2023 +/-H2 2022H1 2

74、023 +/-H2 2022Almost half of CMOs question whether their organization is ready to implement the key strategies they consider crucial in this economic environment.CMO Navigator Wave 3 May 2023Investing in improving our digital customer experience22%Increasing budget for innovation-focused initiatives

75、21%Hiring more talent21%Optimizing prices for products and/or services20%Increasing budget for growth initiatives20%Shifting marketing spend to CRM/retention/loyalty17%Re-negotiating contracts with existing vendors16%Increasing investment in direct sales channels16%Increasing our media spend14%Brand

76、 consolidation13%Enable differed payments for products/services12%Roll out cheaper alternatives to existing products/services11%Investment&optimization strategies40%59%46%51%44%45%53%50%48%54%54%57%Confidence in the ability to implementCMO Navigator Wave 3 May 2023CMOs expect to lean further on busi

77、ness transformation and disruptive innovation in the future.The number of CMOs who believe marketing has grown in importance over the last 2 years continues to increase.Looking at the next 12 months,CMOs expect business transformation and disruptive innovation to become a greater focus in their mand

78、ate.CMOs are implementing new strategies to align with changing consumer sentiment in the current economic environment.Supply chain issues and changes to the workforce are perceived to be less critical challenges than they were 6 months ago.Instead,aligning with changing consumer sentiment is CMOs m

79、ain preoccupation.Half CMOs plan to respond to the economic environment with mostly new strategies.Most CMOs will prioritize investment and optimization strategies but need support to implement them.Rather than cutting costs,CMOs are responding to the economic environment by either investing(in the

80、digital customer experience and innovation-focused strategies)or optimizing their market offerings for this climate.However,almost half of CMOs question whether their organization is ready to implement some of the strategies they consider crucial in this economic environment.Contents0101CMOs Positiv

81、e Outlook Despite Continued Economic Uncertainty02Confidence in Marketing as a Change Agent03Innovating for Customers,Through Emerging Technology04Preparing for AIs Impact05At the Forefront of Innovation:Perceptive CMOs06Key Brand ImplicationsCMO Navigator Wave 3 May 2023Almost 2 out of 3 CMOs consi

82、der innovation extremely important.CMO Navigator Wave 3 May 20230%1%5%34%62%0%0%6%33%61%Not at all importantNot very importantIts a nice-to-haveSomewhat importantExtremely importantH1 2022H1 2023Importance of innovation to business growth96%CMOs attach some degree of importance to innovation+2%Compa

83、red to H1 2022In fact,theres a slight increase in the already significant number of CMOs who had attached some degree of importance to innovation a year ago.The importance CMOs attach to innovation can vary by industry and geo.CMO Navigator Wave 3 May 2023U.S.CMOs(111i);Enterprise(108i);Telco(113i)+

84、Internet Services&Software(114i);B2C&B2B(105i)Canada CMOs(145i);SMB(112i);Manufacturing/Industrial(121i);Professional&Business Services(112i);B2C(114i)+B2B(109i)“Innovation is EXTREMELY important”“Innovation is SOMEWHAT important”ALL ALL CMOsCMOsUnited United StatesStatesCanadaCanadaLegacyLegacyInte

85、rnet Internet bornbornStart upStart upExtremely effective55%55%64%38%45%53%69%Only somewhat effective42%42%33%59%53%43%30%Not very effective3%3%3%3%1%4%1%CMO Navigator Wave 3 May 2023How effective is innovation to your business growth?Almost half of CMOs are unsatisfied with the effectiveness of the

86、ir innovation efforts to date.Considering their existing experience with innovation,CMOs in Canada and CMOs working for legacy brands are particularly skeptical of their companys innovation efforts.Evolving the brands vision&expression,developing new products&services and exploring new ways of worki

87、ng are key focus areas for CMO innovation efforts.CMO Navigator Wave 3 May 202325%25%26%38%40%41%46%Innovating the organizations business modelAdopting the most innovating technologies availableCreating a new threshold for what is possible in the industry categorythe brand operates inInnovating the

88、brand experiences delivered to our customersInnovating the organizations ways of working and cultureInnovating the brands products and/or servicesInnovating the brands vision and its expression through marketing and communicationsWhat types of innovation do you consider most critical for the success

89、of your marketing strategy?Innovating the brands vision and its expression through marketing and communicationsInnovating the brands products and/or servicesInnovating the organizations ways of working and cultureInnovating the brand experiences delivered to our customersCreating a new threshold for

90、 what is possible in the industry category the brand operates inAdopting the most innovating technologies availableInnovating the organizations business modelU.S.CMOs prioritize innovating the expression of the brand and its products/services,while CMOs in Canada are more focused on innovating custo

91、mer experiences.CMO Navigator Wave 3 May 2023What types of innovation do you consider most critical for the successof your marketing strategy?ALL ALL CMOsCMOsUnited United StatesStatesCanadaCanadaB2CB2CB2C&B2C&B2BB2BB2BB2BInnovating the brands vision and its expression through marketing and communic

92、ations46%46%49%40%40%48%48%Innovating the brands products and/or services41%41%44%36%46%41%39%Innovating the organizations ways of working and culture40%40%41%38%44%35%43%Innovating the brand experiences delivered to our customers38%38%36%44%33%39%42%Creating a new threshold for what is possible in

93、the industry category the brand operates in26%26%27%25%36%18%21%Adopting the most innovating technologies available25%25%26%24%21%36%18%Innovating the organizations business model25%25%23%27%29%25%20%The focus on brand and product/service development is reflected in CMOs allocation of innovation-foc

94、used resources.CMO Navigator Wave 3 May 202323%25%26%26%22%25%26%27%BUSINESS TRANSFORMATIONBUSINESS TRANSFORMATIONCUSTOMER EXPERIENCECUSTOMER EXPERIENCEPRODUCT&DEMANDPRODUCT&DEMANDBRANDBRANDMarketing resources allocated(investment&talent)Marketing resources allocated(investment&talent)Innovation res

95、ources allocated(investment&talent)Innovation resources allocated(investment&talent)What percentage of your innovation resources do you allocate to the following types of initiatives?The allocation of resources dedicated to innovation is very much aligned with how CMOs are allocating their resources

96、 across the entire marketing mandate.(initiatives that intersect culture to build and strengthen brand awareness,equity and affinity)(initiatives to develop new ways to stimulate,capture and respond to customer demand,including new product development)(initiatives to evolve and enrich the ways that

97、the business connects with,provides services to&builds relationships with customers)(initiatives that drive new business models,go-to-market strategies and organizational processes and structures)CMO Navigator Wave 3 May 2023What percentage of your innovation-focused resources do you allocate to the

98、 following type of initiatives?ALL CMOsALL CMOsManufacturingManufacturing/Industrial/IndustrialInternet Internet Services&Services&SoftwareSoftwareTelecomTelecomRetailRetailFinance&Finance&InsuranceInsuranceProfessional&Professional&Business Business ServicesServicesBRAND(initiatives that intersect

99、culture to build and strengthen brand awareness,equity and affinity)26%avg.26%avg.26%avg.25%avg.27%avg.26%avg.31%avg.22%avg.PRODUCT&DEMAND(initiatives to develop new ways to stimulate,capture and respond to customer demand,including new product development)26%avg.26%avg.26%avg.26%avg.26%avg.27%avg.2

100、4%avg.27%avg.CUSTOMER EXPERIENCE(initiatives to evolve and enrich the ways that the business connects with,provides services to&builds relationships with customers)25%avg.25%avg.27%avg.23%avg.23%avg.25%avg.25%avg.24%avg.BUSINESS TRANSFORMATION(initiatives that drive new business models,go-to-market

101、strategies and organizational processes and structures)23%avg.23%avg.24%avg.24%avg.25%avg.22%avg.22%avg.23%avg.CMOs working in Financial Services&Insurance are more likely to allocate a more significant share of innovation-focused resources to brand initiatives.CMOs in Telecom allocate more,comparat

102、ively,to business transformation,while those in Manufacturing prioritize customer experience.To improve their ability to innovate,CMOs focus on enhancing their understanding of customer needs and adopting emerging technologies.CMO Navigator Wave 3 May 2023Which of the following actions are you and y

103、our organization focusing on to improve your ability to innovate?ALL CMOsALL CMOsExtremely Extremely effectiveeffectiveOnly Only somewhat somewhat effectiveeffectiveImproving our understanding of customer needs48%48%53%42%Investing in emerging technologies47%47%53%39%Providing employees with dedicat

104、ed time to focus on innovation37%37%42%32%Adopting a design thinking mindset and technologies31%31%33%28%Elevating innovation to an org,goal employees are incentivized to pursue31%31%32%29%Setting aside budget dedicated specifically to funding innovation efforts25%25%23%28%Improving our collaboratio

105、n with partners25%25%20%30%Bringing in a more diverse group of people to focus on innovation24%24%22%27%Developing models to measure the business impact on innovation initiatives12%12%12%11%Organizations that prioritize customer understanding,new technologies and making sure employees are provided t

106、ime to focus on innovation are most likely to find their existing innovation efforts to be extremely effective.Effectiveness of innovation efforts to dateCMO Navigator Wave 3 May 2023In terms of innovation challenges,the number of tech involved&the precedence given to day-to-day executions continues

107、 to be seen as the biggest obstacles.Compared to last year,CMOs are less likely to point to consumers lack of appreciation for innovation and other stakeholders agendas.13%14%14%14%16%20%21%22%22%23%25%25%15%13%15%18%15%24%17%21%23%24%27%29%We dont have a process to enable innovation to take placeIt

108、s not part of the culture of the organizationIts not valued in the industry in which our organization operatesIts not sufficiently valued by consumersIts not an endeavor that has sufficient buy-in across all relevant stakeholdersEach stakeholder has a unique innovation agenda that conflicts with oth

109、ersWe lack a clear definition of what is innovationIts stifled by restrictive policies and regulationsBy the time you implement an innovative idea,the market has moved on to something elseIts too hard to define what impact it will have on growthDay to day execution of existing models takes precedenc

110、eIt requires the implementation and upkeep of too many technologiesH1 2022H1 2023Challenges to innovation indicated by CMOs in H1 2022 vs.H1 2023When seeking innovation,most CMOs turn first to people in the field,leaders on their teams and marketing/agency partners.CMO Navigator Wave 3 May 2023Which

111、 of the following do you turn to most to help you establish,inform and drive an innovation agenda as a marketing leader?ALL ALL CMOsCMOsExtremelyExtremelyeffectiveeffectiveOnly Only somewhat somewhat effectiveeffectivePeople who work with customers in the field31%31%32%30%Product,brand and marketing

112、 leaders on my team31%31%27%35%Marketing and agency partners30%30%33%26%Dedicated innovation leads on my team30%30%31%30%Hardware,software and services technology partners29%29%31%27%Dedicated innovation leads in the business(not in Marketing)28%28%27%29%Commercial partners with industry-specific ex

113、pertise27%27%29%26%Consultancies specializing in innovation and design-thinking24%24%24%23%To traditional management consultancies21%21%21%21%CMOs who turn to marketing and agency partners and commercial partners with expertise in their industry category are more likely to find their innovation effo

114、rts to date to be extremely effective.Effectiveness of innovation efforts to dateCMO Navigator Wave 3 May 2023Innovation is considered a priority by most CMOs,despite only partially successful efforts to date.Almost 2 out of 3 CMOs consider innovation extremely important.However,almost half of them

115、are unsatisfied with the effectiveness of their innovation efforts to date.Brand and demand are innovation priorities for most CMOs.The expression of the brand,developing new products and services,as well as new ways of working are the types of innovation CMOs pursue the most.This is reflected in th

116、eir allocation of innovation-focused resources.In order to be innovative,CMOs prioritize the understanding of customer needs and the adoption of new technologies.Improving the understanding of customer needs and adopting emerging technologies are the actions CMOs prioritize to improve their organiza

117、tions ability to innovate.This focus is reflected in the fact that most CMOs point to the upkeep of technologies as a key challenge to innovation and to people in the field who work with customers as the partners they turn to when seeking innovation.Contents0101CMOs Positive Outlook Despite Continue

118、d Economic Uncertainty02Confidence in Marketing as a Change Agent03Innovating for Customers,Through Emerging Technology04Preparing for AIs Impact05At the Forefront of Innovation:Perceptive CMOs06Key Brand ImplicationsCMO Navigator Wave 3 May 2023CMOs and consumers agree that Generative AI will be th

119、e future.CMO Navigator Wave 3 May 2023CMOs are even more confident in the technologys relevance,with 9 out of 10 saying it will be part of our lives in 10 years.CMOsDo you think Generative AI will be the Do you think Generative AI will be the future and be part of our lives in 10 future and be part

120、of our lives in 10 years time,or do you think its a fad?years time,or do you think its a fad?CONSUMERS91%Generative AI is the future78%9%Generative AI is a fad22%CMOs are significantly less likely to be concerned about AIs impact on society than consumers.CMO Navigator Wave 3 May 2023CMOsCONSUMERS43

121、%Extremely excited18%40%Somewhat excited21%10%Neutral28%4%Somewhat concerned21%2%Extremely concerned11%What is your feeling about the impact AI will have on society in the next 5 years?6%CMOS are concerned about AIs impact on society32%Consumers think the economy are concerned about AIs impact on so

122、cietyOn the other hand,CMOs excitement for AIs potential greatly surpasses that of consumers.Almost 8 out of 10 CMOs think AI will have a significant impact on their business,with 1/3 believing it will revolutionize their business.CMO Navigator Wave 3 May 20234%15%2%51%28%AI will have NO IMPACT on a

123、ny aspect of our businessAI will have a LIMITED IMPACT confined to a few areas of our businessWe are still TRYING TO UNDERSTAND what impact AI may have on our businessAI will have a SIGNIFICANT IMPACT in multiple areas of our businessAI will REVOLUTIONIZE OUR BUSINESS,disrupting almost every aspect

124、of itWhich of the following best describes the impact you think AI will have over your business over the next 5 years?79%CMOs think AI will have a significant or preponderant impact on their businessU.S.CMOs and CMOs working in Telco and Internet Services brands are more likely to say AI will revolu

125、tionize their business.CMO Navigator Wave 3 May 2023U.S.CMOs(118i);Telco(113i)+Internet Services&Software(114i);B2C(110i)Canada CMOs(120i);Retail(133i);Financial Services&Insurance(140i);B2B(113i)“AI will REVOLUTIONIZE our business”“AI will have a LIMITED IMPACT on our business”CMOs working for Reta

126、il and FSI brands are more likely to say AI will have a limited impact.Most CMOs say the adoption of AI will have a critical or significant impact on their brands ability to meet their business goals.CMO Navigator Wave 3 May 20232%2%10%10%46%46%41%41%Adoption will have LITTLE IMPACTAdoption will hav

127、e a LIMITED IMPACTAdoption will have a SIGNIFICANT IMPACTAdoption will be CRITICAL to the viability of our businessTo what extent is the adoption of AI critical to meeting your organizations business goals in the next 2 years?87%CMOs think AI adoption will have a significant or critical impact on th

128、eir business ability to meet its goalsCMOs in Telco brands are significantly more likely to say AI adoption will be critical for the viability of their business.CMO Navigator Wave 3 May 2023To what extent is the adoption of AI critical to meeting your organizations business goals in the next 2 years

129、?All All CMOsCMOsTelcoTelcoFSIFSIInternet Internet Services&Services&SoftwareSoftwareManufacturingManufacturing/IndustrialIndustrialProfessional Professional&Business&Business ServicesServicesRetailRetailAdoption will be CRITICAL to the viability of our business41%41%67%37%41%40%22%30%Adoption will

130、have a SIGNIFICANT IMPACT46%46%32%44%50%51%61%54%Adoption will have a LIMITED IMPACT10%10%1%14%8%6%14%15%Adoption will have LITTLE IMPACT2%2%0%5%1%3%2%1%Data management&analysis,customer experience design and customer interactions are the areas in which brands already use AI technologies&application

131、s the most.CMO Navigator Wave 3 May 2023To what extent has your organization integrated AI tech and AI-based apps into the following areas?41%41%41%42%45%45%47%48%49%49%37%42%43%43%40%41%38%40%37%42%22%17%16%15%15%14%15%12%14%9%Vendor relationshipsBrand safetyMedia planning&buyingBrand expression in

132、 social environmentsCreative outputDigital customer journey orchestration&personalizationLogistics&operationsCustomer interactionsCustomer experience designData management&analysisFully part of our strategy&executionsRunning early pilots or experimentsNot using yet45%Average for AI being fully part

133、of strategy&executions40%Average for AI being part of early pilots or experiments15%Average for AI not being used yetLooking forward,data management&analysis and customer interactions are key areas for future AI deployments.CMO Navigator Wave 3 May 2023To what extent is the adoption of AI tech and A

134、I-based apps into the following areas a priority for your organization over the next 12 months?45%46%49%49%52%53%55%55%58%61%48%45%44%46%40%39%38%39%37%35%7%9%7%5%8%8%7%6%5%4%Brand expression in social environmentsVendor relationshipsBrand safetyDigital customer journey orchestration&personalization

135、Media planning&buyingLogistics&operationsCreative outputCustomer experience designCustomer interactionsData management&analysisHigh priorityNice to haveNot a priority52%Average for AI adoption being high priority41%Average for AI adoption being a nice to have6%Average for AI adoption not being a pri

136、orityCMOs are ready to live up to the responsibilities consumers assign to brands when it comes to the(responsible)use of AI.CMO Navigator Wave 3 May 2023CMOsAGREE:when it comes to the adoption of AI in the next 5 years,brands should take the following actionsCONSUMERS75%Disclose to consumers that a

137、 service the brand makes available to them(e.g.a hotel concierge service)is delivered to them using AI78%73%Disclose to consumers when they are having interactions that are powered by AI(e.g.chatbots,virtual influencers,etc.)78%73%Ensure that existing biases and systems of inequality are not(purpose

138、fully or inadvertently)propagated by the AI based applications they leverage77%69%Disclose to consumers if a branded piece of content(e.g.a commercial)they are experiencing was created using AI 75%67%Disclose to consumers if a product(eg.a garment or a purse)they can purchase from the brand was desi

139、gned using AI73%60%Limit their adoption of AI in the next 5 years to protect human jobs72%However,consumers are more likely than CMOs to say brands should limit AI adoption to protect human jobs.CMO Navigator Wave 3 May 2023CMOs are excited about AIs potential and think it will significantly impact

140、on their business.Most CMOs agree with consumers that Generative AI will be the future.8 in 10 CMOs think AI will have a preponderant or significant impact on their business and that their ability to meet their business objectives depends on adoption.To date,AI is mainly deployed in data management

141、and customer-facing initiatives,but adoption in the creative arena is a growing future focus.Data management,customer interactions and customer experience design are the areas where AI adoption Progress in Generative AI development is making adoption in the creative arena a bigger focus for the next

142、 12 months.CMOs are aligned with consumer expectations for transparent and responsible use of AI.Most CMOs agree with consumers that brands should disclose when AI is being used.6 in 10 CMOs also agree with consumers that AI adoption should be limited to protect human jobs.Contents0101CMOs Positive

143、Outlook Despite Continued Economic Uncertainty02Confidence in Marketing as a Change Agent03Innovating for Customers,Through Emerging Technology04Preparing for AIs Impact05At the Forefront of Innovation:Perceptive CMOs06Key Brand ImplicationsCMO Navigator Wave 3 May 2023A new breed of CMO:The Percept

144、ive CMOsShopping Habits Through Exclusivity&Convenience:Consumer Sentiment Study55Comparing the responses to identical questions we received from consumers and CMOs in Wave 1&Wave 2,a new breed of CMO emerged:Perceptive CMOs who are more successful than their peers by calibrating their strategies at

145、 the intersection where consumer wants and business needs overlap.We repeated the exercise in this Wave,identifying a group of CMOs who are more closely aligned to consumer sentiment in terms of the direction of the economy,the relevance of AI in our future and brands responsibilities when it comes

146、to its use,including limiting adoption to protect human jobs.Perceptive CMOs agree with consumers:The economy will remain the same or get better;Generative AI is the future;Brands should be transparent with customers about AI usage in the creation of branded content,in product design,customer servic

147、e and customer interactions;Brands should ensure that existing biases and systems of inequality are not propagated by AI;Brands should limit AI adoption in the next 5 years to protect human jobs.CMO Navigator Wave 3 May 2023AI FUTUREBRAND RESPONSIBILITYDIRECTION OF THE ECONOMY16%of CMOsCMOs aligned

148、with consumer prioritiesPerceptive CMOsPerceptive CMOs are more focused on product development than their peers,and they are increasing investments in CX and media.Shopping Habits Through Exclusivity&Convenience:Consumer Sentiment Study5616%of CMOsCONSUMER WANTSBUSINESS NEEDSAccountability:Customer

149、satisfaction&advocacy(139i)+Brand health(118i)+Driving efficiencies(163i)Role of Marketing in the Next 12 Months:Developing new products and/or services(114i)+Supporting pricing/price optimization(133i)Strategies:Invest in digital CX(127i)+Increasing media spend(114i)Country:United States(109i)Brand

150、 lifetime:Legacy(114i)+Internet born(107i)Generation:Millennial(107i);Business Model:B2C&B2B(123i)Company Size:Enterprise(108i)+Large(116i)CMO Navigator Wave 3 May 2023Feelings about AI:Extremely excited(123i)Their closer alignment with consumer wants may emanate from the fact they are more likely t

151、o be chartered with customer satisfaction.57Perceptive CMOs continue to be more likely to have experienced revenue increases and,in fact,have experienced the most significant increases in revenue in the last 12 months.72%63%17%9%Perceptive CMOsPerceptive CMOsNon-PerceptiveNon-Perceptive%who have exp

152、erience revenue increases in the last 12 months%who have experienced revenue increasing by more than 10%in the last 12 monthsvs.vs.CMO Navigator Wave 3 May 202358Perceptive CMOs continue to be more likely to see their budget increasing and are more likely to say that marketing has grown in importanc

153、e over the last 2 years.81%64%83%72%Perceptive CMOsPerceptive CMOsNon-PerceptiveNon-Perceptive%who expect their budget increasing in the next 12 months%who say marketing has grown in importance over the last 2 yearsvs.vs.CMO Navigator Wave 3 May 2023They are also more likely to consider their organi

154、zations well-prepared to face the economic environment.59Perceptive CMOs are more likely to think innovation is extremely important for their businesses growth and to consider their innovation efforts to date extremely effective.CMO Navigator Wave 3 May 202369%60%63%54%Perceptive CMOsPerceptive CMOs

155、Non-PerceptiveNon-Perceptive%who believe innovation is extremely important%who say their innovation efforts to date have been extremely effectivevs.vs.60CMO Navigator Wave 3 May 2023When pursuing innovation,Perceptive CMOs are more likely to focus on product/service development,disrupting the indust

156、ry category their brands operate in and adopting emerging technologies.Types of Innovation Pursued26%29%30%37%41%44%42%25%24%25%39%40%41%47%Innovating the organizations business modelAdopting the most innovating technologies availableCreating a new threshold for what is possible in the industry cate

157、gory the brand operates inInnovating the brand experiences delivered to our customersInnovating the organizations ways of working and cultureInnovating the brands products and/or servicesInnovating the brands vision and its expression through marketing and communicationsNon-PerceptiveNon-PerceptiveP

158、erceptive CMOsPerceptive CMOs61CMO Navigator Wave 3 May 2023When pursuing innovation,Perceptive CMOs are significantly more likely to invest in emerging tech,make innovation an organizational priority and make sure that diverse perspectives are included.Actions Taken When Pursuing Innovation15%35%29

159、%26%34%37%43%53%45%11%22%24%25%30%30%36%46%48%Developing models to measure the business impact on innovation initiativesBringing in a more diverse group of people to focus on innovationImproving our collaboration with partnersSetting aside budget dedicated specifically to funding innovation effortsE

160、levating innovation to an org,goal employees are incentivized to pursueAdopting a design thinking mindset and technologiesProviding employees with dedicated time to focus on innovationInvesting in emerging technologiesImproving our understanding of customer needsNon-PerceptiveNon-PerceptivePerceptiv

161、e CMOsPerceptive CMOs62Perceptive CMOs are more likely to say that AI will significantly impact their business and that its adoption will be critical to meeting their business goals.CMO Navigator Wave 3 May 202382%78%94%86%Perceptive CMOsPerceptive CMOsNon-PerceptiveNon-Perceptive%who believe AI wil

162、l revolutionize or have a significant impact on their business%who say AI adoption will have critical or significant impact in their ability to meet their business goals.vs.vs.This makes their alignment with consumers views with regard to brands responsibilities regarding being transparent about AI

163、usage and even regarding limiting adoption to protect human jobs even more significant.CMO Navigator Wave 3 May 2023Perceptive CMOs are more closely aligned with consumer sentiment in a number of areas,including brands responsibilities when it comes to AI adoption.Perceptive CMOs are aligned with co

164、nsumers on the direction of the economy,on believing AI will be the future and on brands responsibilities when it comes to adoption,including limiting it to protect human jobs.Perceptive CMOs are more focused on product development than their peers,and they are increasing investments in CX and media

165、.Inspired by the better results Perceptive CMOs are driving,businesses are trusting them with increasing budgets.Perceptive CMOs are more likely to have experienced revenue growth and,in fact,more likely to have experienced significant revenue growth(+10%)in the last 12 months.At the same time,Perce

166、ptive CMOs are more likely to expect an increase in their marketing budget and are more likely to believe marketing has grown in importance.Perceptive CMOs are more focused on innovation,prioritizing category disruption and tech adoption.Perceptive CMOs are more likely to consider innovation extreme

167、ly important and consider their efforts to date effective.Perceptive CMOs are more likely to invest in emerging technologies and to pursue the disruption of the category their brands operate in.Contents0101CMOs Positive Outlook Despite Continued Economic Uncertainty02Confidence in Marketing as a Cha

168、nge Agent03Innovating for Customers,Through Emerging Technology04Preparing for AIs Impact05At the Forefront of Innovation:Perceptive CMOs06Key Brand ImplicationsCMO Navigator Wave 3 May 2023CMO Navigator Wave 3 May 2023The CMOs journey from now to next.While acknowledging an uncertain economic envir

169、onment,CMOs remain optimistic about the future.While 2 in 3 CMOs concur with consumers that there is a recession,the general optimism we had noted 6 months ago persists.CMOs optimism is fueled by growing revenues,expectations of increasing budgets for most,and a perception of marketing as an increas

170、ingly important business function.While acknowledging the current economic environment,CMOs are less likely to say it has negatively impacted their organizations than 6 months ago,fueling a sense of preparedness.Most CMOs continue to prioritize investment&optimization strategies over cost-cutting to

171、 respond to the economic environment.Preoccupied with aligning with new and changing consumer sentiment,half of CMOs are mostly pursuing new strategies to respond to the economic environment.Rather than cutting costs,most CMOs are planning to reach consumers at this time by either increasing investm

172、ents or optimizing their resources.However,almost half of CMOs question their organizations ability to implement the strategies they consider crucial to thriving in this environment.CMOs pursue innovation by improving their understanding of customer needs&adopting emerging technologies,like AI.Almos

173、t 2 out of 3 CMOs consider innovation extremely important.However,half of them are unsatisfied with the effectiveness of their innovation efforts to date.Most CMOs prioritize enhancing their understanding of customer needs and adopting new technologies to improve their ability to innovate.This focus

174、 on customers and tech is reflected in CMOs views on the impact of AI and its adoption and their alignment with consumers on brands responsibilities towards its use.Perceptive CMOs ground their success in living at the intersection of consumer wants and business needs.Perceptive CMOs are more closel

175、y aligned to consumer sentiment than their peers on the direction of the economy,on AI being the future and on brands responsibilities when it comes to its use.Marketing organizations led by Perceptive CMOs are fairing better in terms of revenues and budget increases.Perceptive CMOs are more likely

176、to consider their innovation efforts to date effective,having invested more in adopting emerging technologies and making innovation an organizational priority.About dentsuDentsu is the network designed for whats next,helping clients predict and plan for disruptive future opportunities and create new

177、 paths to growth in the sustainable economy.Taking a people-centered approach to business transformation,we use insights to connect brand,content,commerce and experience,underpinned by modern creativity.As part of Dentsu Group Inc.(Tokyo:4324;ISIN:JP3551520004),we are headquartered in in Tokyo,Japan and our 65,000-strong employee-base of dedicated professionals work across four regions(Japan,Americas,EMEA and APAC).Dentsu combines Japanese innovation with a diverse,global perspective to drive client growth and to shape society.Visit:;.