So This is What 60 CMOs Did in Cannes Last Week
Well it wasn't all glamour and glitz last week in Cannes. It seems some actual work was completed, at least among 60 CMOs who participated in the Adobe-chaired Marketing2020 round table which examined the role and creation of purposeful brands, the structure, role and capabilities of marketing, how to analyze big data in marketing, the role of the CMO and collaboration with agencies. The group also discussed findings from the Marketing2020 Study which found:
- Fifty-eight percent of marketers work closely with their CEO to establish the company's strategic growth agenda - a 20 percent increase from 2006
- Seventy-three percent of marketers believe brands with a societal purpose drive business growth
- Ninety percent of marketers expect the size of global marketing departments to remain the same or increase over the next five years
- Sixty-five percent of senior marketers (SVP+) expect marketing and communications departments to merge in the next five years
- Only 20 percent of marketers feel their teams receive adequate training, even though increased marketer training correlates with increased business growth
Of the study and the round table, Association of National Advertisers President Bob Liodice said, "Marketing2020 - and the impressive group of senior marketers that gathered at Cannes to discuss it - represent a burgeoning breakthrough in our industry. The results of the study, including the Cannes discussion, will provide senior marketers around the world with clear pathways to business growth. This is the most ambitious, significant research and leadership initiative the ANA has ever taken part in."
Less numeric results of the study revealed:
- Technology developments drive massive change in the way marketers develop value propositions and connect with consumers
- Data mining and analytics are the capabilities marketers most want to develop over the next five years
- The role of brands will increase significantly despite increasing consumer information and global transparency
- Marketing leaders of organizations outgrowing their competition tend to be closer to consumers and focus more on developing people in comparison to their peers
- Creative and agency partners will play a more important role in marketing organizations in the future
Over the past three months, 350 CEOs, CMOs, CMO peers and agency leaders and several thousand marketers from around the world have contributed to Marketing2020. The Marketing2020 online survey can be taken here.