Written by: Vickie Sullivan | October 26, 2021
What Do CMOs Invest In?
Earlier this month, we drilled down on the pressures chief marketing officers (CMOs) face. This McKinsey post echoes those findings, but it also offers the inside scoop on what companies are greenlighting for growth initiatives.
Pay attention to these two big findings:
• Companies want market leaders. Corporate America – and CMOs – have no problem hiring outside folks. Key stat: “Triple play companies were almost twice more likely to work with agencies that lead in a certain capability area – even if that meant the company needed to manage more agencies.” Translation: Top-of-mind folks are worth the extra trouble.
Listen: What It Takes to be Top of Mind Now
• Think beyond the transaction. According to this report, the new business case for purpose is emerging. What takes center stage: using purpose to drive rapid decision-making down into the organization and as a compelling recruitment tool. This expansion of purpose goes far beyond culture and strategic planning. Perhaps it’s time to drill down on our perspective on this topic.
All of our clients want to grow. But knowing what CMOs will invest in? That’s great fodder for content marketing and sales conversations. Proceed accordingly.
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