As the communications business goes into 2025 planning mode, TEAM LEWIS has released a Global CMO Report which asked hundreds of marketing leaders across the world what is keeping them awake at night.
Our research showed that most CMOs identify the competitive environment as the top threat to their business (and sleep scores). With 58% citing it as a major concern.
Nearly a quarter (22%) said that showing ROI and standing out among competitors was a major concern to them..
So, what approaches can agencies and in-house marketing and communications teams take to support marketing bosses in the face of intense competition, complexity and economic uncertainty?
Our view is that driving an innovative and aggressive strategy is key to survival. It needs to be about winning, taking the higher prize.
Yet in-house and agency teams have got to shake off their corporate shackles and develop challenger mindsets. Doing what the competition is unwilling or unable to do. Especially as more than half of the global marketing decision-makers (52%) we surveyed, said they are working on optimising budget allocations. Asked to do more with less.
Yet despite the need to deliver obvious return on every dollar, pound or Euro spent, this could also be the time that many of us end up doing the best work of our careers. As a marketing business with roots in tech, we’ve always seen tough times trigger innovative ways of working.
And it is starting right now. 40% of CMOs surveyed in our report told us they were already applying AItools to upgrade their marketing efforts. Leveraging AI and machine learning to make creative, data-driven decisions.
This shows that differentiation through innovation will become a key theme for this planning cycle. With smart operators developing unique value propositions that set their brand / client apart from competitors. Using this intelligence to constantly identify areas for improvement.
Operators who can pivot plans in response to unexpected events will be the winners. Constantly communicating with sales on what is driving revenue as well as using their own judgement and expertise to deliver brand value and relevant content that cuts through. Showing how they are using data to flex plans that are efficient and deliver when the goal posts change.
While only a fifth of respondents cites talent shortages as a threat to their business world returning to the office and to larger scale events presents an opportunity for star colleagues and clients to become thought-leaders. Positioning them as experts via speaking engagements not only builds credibility, but it distinguishes from competitors. Across channels.
