“This study reinforces that we are in the early stages of a replacement. Generative AI is the catalyst that allows sophisticated CMOs to recognize that there are superior technologies and tools to deliver better customer experiences. consumers and better results for their brands,” adds Steven Gerber. , President and COO of Zeta Global.
Zeta Global, an AI-powered marketing cloud, and the Chief Marketing Officer Council (CMO Council) announced the results of the study, which was conducted during the first quarter, and surveyed nearly 200 CMO members Council (with 16,000 members) in North America. and Europe.
The results reveal a clear and confident shift in marketing technology.
The new study also reveals that 60% of marketers believe that marketing will deliver the most value and ROI in 2024.
AI: improved performance, reduced workforce
More than 40% of those surveyed by the CMO Council are turning to AI to inform content creation and minimize errors, inaccuracies, hiccups, gaffes, snafus, and errors in images, videos, and copy. marketing communications.
They also seek more predictive results through creative investments and higher levels of automation, productivity and efficiency across internal teams and agencies.
All of this translates into improved production and inspiration from a reduced workforce.
Marketing Technology Purchases
Respondents indicate they will heavily target content creation for greater invention, impact and personal resonance when deploying AI applications in marketing.
They expect AI-driven execution to help brands be both competent and adaptive to connect and engage more individually across cultures, borders, shopping charts, psychographics and requirements of localized marketing partners and channels.
“Marketing technology purchasing intentions have shifted dramatically toward the adoption of new Gen AI tools, applications, and analytics,” notes Donovan Neale-May, executive director of the CMO Council.
He notes that nearly 60% of marketers surveyed see this area of investment as offering the most value and ROI in 2024.
Essential customer data
Customer data is considered by nearly 46% of marketers to be the essential lubricant to recognize, personalize, humanize, prioritize and drive engagement with popular and loyal buyers.
Better knowledge and understanding of customer journeys, as well as improved processes, productivity and workflow, are high on the list of priorities for marketing technology investment in 2024.
Marketing technology is more accepted
The report highlights that CMOs face many challenges in achieving organizational adoption while using marketing automation platforms and point solutions.
The report believes that expertise dedicated to marketing technology management and digital transformation appears to be maturing and becoming more widely accepted, supported and represented in global organizations.
Cross-functional leadership teams are now deployed with clear strategies for the selection, deployment, adoption and scaling of new or existing platforms, solutions and tools.
Main findings of the survey
The main conclusions of the investigation are as follows:
- Half (50%) of all marketers surveyed prioritize functional alignment and unified execution in 2024, followed by acquiring customer insights for better results.
- Only 17% of CMOs believe their teams lack digital skills and only 18% face resistance to change.
- About 14% of marketers rated their teams excellent in 2023, while almost 50% said they were meeting expectations. About 30% believe there is room for improvement and 8% report underperformance.
- Revenue growth is the top priority for almost 60% of respondents, who also expect greater operational efficiency and lower marketing costs in 2024, with high expectations for impact of AI on productivity and performance.
- CMOs view IT departments, CIOs, CTOs and CDOs as key partners in leveraging customer data, through expanding marketing stacks, point solutions, channel partners, e-commerce and customer-facing groups.
The full report can be obtained here.
