导读：As growth becomes challenging, and markets stagnate, innovation is a greater imperative than ever.
As growth becomes challenging, and markets stagnate, innovation is a greater imperative than ever. Clients are investing significant proportions of their budget in innovation, no longer a niche or a nice-to-have. The CMOs in our survey are inevitably experiencing different economic headwinds across markets, and as a result attitudes to growth vary significantly. In mature economies such as the UK, Germany and Japan between 28-30% of CMOs reported flat or declining revenues while markets such as India, the UAE, Mexico and Brazil were significantly more likely to report positive momentum. Overall, however, 85% of CMOs agreed that increasing competition and market saturation is a challenge for their business, while 83% cite growth in an economic slowdown as a significant challenge. Perhaps as a result, investment in innovation is a significant priority for the CMOs in our survey. 79% of those surveyed will invest over 10% of their budget in innovation, with the highest percentage (28%) claiming they will invest 21-30% in innovation; a long way from the 70:30:10 model often referenced in the past. When it comes to the technologies that they believe will help them innovate, 41% of CMOs are planning to adopt AI/Machine Learning to help personalize experiences and tailor content, 49% are planning to explore immersive experience such as virtual try-on, 46% are planning to introduce gamification techniques and 40% are planning to implement Blockchain technologies to ensure transparency and traceability. One stumbling block may be the struggle to find an innovation partner: 60% of CMOs don’t feel they have the agency partner they need to help them innovate. In response to client demand, Dentsu Lab will expand around the world in 2024, collaborating with marketers to solve their more urgent business and societal challenges through the power of creative innovation. Dentsu Lab’s core offering spans from thought leadership, to R&D acceleration, visionary concepting, creative proof-of-concept, and prototype. Over the past decade, Dentsu Lab has demonstrated this path forward, responsible for some of the network’s most renowned innovation projects. These include ‘All Players Welcome’ which uses technology to free the creative potential of those living with disabilities; ceremonies of international events, and the use of algorithms and data visualization to enhance sports experiences. The content of this article is sourced from the DENTSU CREATIVE 2024 CMO REPORT. Now in its fifth year, the annual study is conducted to provide insight into the hearts and minds of CMOs globally, to help benchmark their direction against peers, and support them developing their creative, experience and innovation roadmaps. To form the CMO Report, the responses to 45 questions posed to 950 CMOs in Australia, Brazil, China, Canada, Germany, Italy, India, Japan, Mexico, Saudi Arabia, Spain, the UAE, US and UK. Eight key themes have been identified to offer an indispensable industry toolkit and roadmap, this year calling for agencies to not only respond to briefs but also to challenge them and drive transformative change. TO READ THE 2024 CMO REPORT IN FULL, PLEASE DOWNLOAD FROM THE DENTSU CREATIVE GLOBAL WEBSITE. www.dentsucreative.com/news/dentsu-creative-cmo-survey-2024 -ENDS- TAP TO READ MOREDentsu Creative 2024 CMO Report
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