Even in the face of major external challenges such as geopolitical conflict, economic instability and the threats related to climate change, Chief Marketing Officers (CMOs) are well positioned to create new levers for organizational growth. At least that’s what the authors of the 2023 Global Marketing Trends study, released by Deloitte and based on executive surveys and conversations with brand leaders, conclude.
The report came up with four trends that could help marketers elevate their contributions to brand success, and guide CMOs as they set priorities for 2023:
CMOs surveyed are prioritizing new technologies, expanding markets, and customer personalization to help their brands endure—and thrive—in uncertain times.
When asked what they are doing to protect their companies against economic instability, CMOS respondents indicated the following top three priorities:
As consumers stress sustainability as critical to their brand choices, marketers are recognizing equity and environmental impact from the inside out.
Brands reported that their top three priorities for sustainability efforts this year include:
Common among high-growth brands surveyed are processes and thinking that encourage creativity, risk-taking, and cross-functional collaboration.
CMOs might consider the following strategies to encourage creativity in their organizations:
The adoption of emerging technologies can create competitive advantages, and marketers are looking at the metaverse and blockchain as particularly promising.
Brands across industries should start to consider the role the metaverse might play in their marketing strategy in the medium to long term. For the year, based on the fieldwork with CMOs, the authors recommend:
—
Source: Deloitte Insights