By A Correspondent
Dentsu Aegis Network’s 2019 global survey of 1000 CMOs and senior-level marketers in 10 markets – including Australia, China, and Japan in Asia Pacific – highlights a growing challenge for marketing leaders, as they seek to move beyond optimisation and drive business transformation through digital.
Globally, eight out of 10 surveyed recognise the imperative to transform the business in the face of digital disruption, as well as taking more responsibility for product and service innovation over the next 2-3 years. China, in particular, comes out leading this trend with 98 and 96 per cent of respondents respectively prioritising these areas as key elements of the marketing function.
However, global CMOs are finding it difficult to achieve this vision with ‘Business Transformation’ and ‘Disruptive Innovation’ at the bottom of the list for the second year running in terms of functional priorities, and current capabilities beginning to lag behind future needs as short-term metrics dominate their focus.
Within APAC, CMOs are beginning to lead a shift away from this trend, with China, Japan and Australia ranking Business Transformation within the top three priorities for the marketing function today, as well as over the next three years. CMOs in China and Japan also notably outperform global counterparts in their expectations for Disruptive Innovation to rise among marketers’ top 3 priorities in the next three years, at 61 per cent and 47 per cent respectively, well above the global average of 36 per cent.
Marketing functions risk lagging the digital race as performance gaps emerge
Across a spectrum of marketing capabilities, CMOs were asked what they believe to be important to future success, versus their current ability to execute.
Said Takaki Hibino, APAC Executive Chairman, Dentsu Aegis Network:
“Brands globally have invested heavily in digital but have yet to reap the rewards as short-term metrics rather than driving digital transformation continues to dominate the marketing function’s focus and priorities.
In Asia Pacific however, CMOs are leading the curve with business transformation now firmly positioned as function’s top 3 priorities, and CMOs in the region being more likely to plan their marketing strategies over the long term. This creates a real opportunity for CMOs in this region to truly embed the digital transformation agenda and drive the future capabilities the region depends on for growth.”
We hope India will be included in the next edition of the survey.