CMOs view media as a key driver of business growth, Dentsu report

Dentsu has announced the launch of its 2024 CMO Navigator, Media Edition, a study of over 1900 CMOs in 13 countries, and the latest in its Navigator series, following the publication of recent Creative and CX editions.

The study reveals how CMOs view media’s evolution from pure performance power to a strategic driver of business growth requiring a highly nuanced approach fit for the fully addressable, shoppable, and accountable algorithmic era.

Conducted during August 2024, the study shows that media is undeniably seen as a strategic lever to drive business growth by an overwhelming majority of CMOs with 88% seeing it as very important or critical.

They are readying their organizations to seize new opportunities in a world where algorithms increasingly connect culture to commerce, evidenced by priority investment areas aimed at standing out in consumers’ busy feeds.

These include increased investments in short-form content (45% agree), social commerce (43% agree) production/ sponsorship of original content (43% agree), influencer marketing (42% agree), and retail media networks (41% agree).

With AI becoming increasingly influential across the marketing landscape, 34% of CMOs see it will have broad applicability when it comes to media, from strategy to planning to prospects of new partnerships next year. However, 39% agree that their biggest priority will be truly understanding use cases, opportunities and risks of AI in 2025.

While there is an optimistic outlook for increased investment across the board in 2025 a number of key challenges were outlined by CMOs, with 29% agreeing their biggest concern was the tightening of data privacy regulations , 29% were anxious about planning media for both business performance and sustainability goals , 28% see that a lack of transparency or visibility from closed tech platforms such as Amazon, X, or WeChat may causes issues, and a further 28% worry about integrating emerging tech solutions.

The full report can be accessed here

www.dentsu.com

Follow Marketing Report on LinkedIn