82% CMOs Emphasise Storytelling Across All Brand Touchpoints: Dentsu Creative CMO Report

Dentsu Creative released a CMO Report highlighting the key role of creativity in driving business transformation in an annual global survey of 950 Chief Marketing Officers(CMOs) across 14 countries, including Australia, Brazil, China, Canada, Germany, Italy, India, Japan, Mexico, Saudi Arabia, Spain, the UAE, US, and UK, recognising its unparalleled potential to shape the future of their brands.

According to the data, 79 per cent of respondents agree that marketing is a key driver of business transformation, with 83 per cent of CMOs believing that creative ideas can transform businesses and 81 per cent viewing creativity as more important to their business than ever. Innovation has also been identified as a crucial driver of business transformation, with 56 per cent of CMOs planning to invest more than 20 per cent of their budget in innovation over the next 12 months.

“What we’re hearing from clients, and our survey confirms, is that they need and value creativity more than ever. But it’s a new kind of creativity; creativity that is business-driven, making an impact across every aspect of their organisation from comms to commerce to sustainability. In parallel, we see new attitudes to AI emerging, where it’s not a threat to human creativity but a way of giving human creativity superpowers -- exponentially increasing the pace and possibilities of personalisation, real-time responsiveness, and relevance,” said Abbey Klaassen, Global Brand President, Dentsu Creative.

Key insights from the Dentsu Creative 2024 CMO Report reveal that while 84 per cent of CMOs believe brands must be culturally relevant, 86 per cent struggle with effective integration. The report underscores the evolving role of creativity in marketing, presenting a nuanced picture of the challenges and opportunities faced by Chief Marketing Officers (CMOs) worldwide.

Harsha Razdan, CEO, South Asia, dentsu said, “In a world where creativity is no longer a nice-to-have but a must-have, CMOs are driving the future with flair and fearlessness. At dentsu, we’re not just watching this transformation from the sidelines; we’re crafting the playbooks and remixing the rules. This year’s report is the ultimate guide to conquering the Marketing X Tech X Consulting frontier. Embrace the chaos, think audaciously, and lead the charge.”

The report reveals a shift towards cultural relevance and collaboration with creators and platforms. While 82 per cent of CMOs view future marketing as a partnership with creators, 60 per cent are hesitant to lose control over their brand narratives. Furthermore, 88 per cent of respondents agree that it is more important than ever for brands to be part of culture, yet 74 per cent are unsure how best to connect brands to culture in meaningful and strategic ways.

Amit Wadhwa, CEO, South Asia, Dentsu Creative added, “The 2024 CMO Report unveils how creativity and tech are reshaping the marketing landscape. Storytelling remains crucial, with generative AI emerging as a creative ally. While others strive to keep pace, Dentsu Creative is setting new benchmarks, crafting solutions that redefine how brands engage and resonate.”

A key takeaway from the report is the emphasis on consistent brand storytelling across all touchpoints. 82 per cent of CMOs stress that every brand touchpoint should tell a consistent story. This highlights the need for brands to build distinctive and connected experiences to differentiate themselves in a highly competitive market.

Pats McDonald, Global CSO, Dentsu Creative commented, “Brands and businesses are now in the era of sudden change. Changes we’ve anticipated for years are now accelerating dramatically and reaching critical tipping points accelerated by new behaviours, new technologies, and new possibilities. We can’t reach new customers in old ways or make new work with old tools. Brands today will be built at the intersection of culture, commerce, and community; in a world where stories are shoppable, and stores are stories. The challenge for brands will be to engage communities in thoughtful and collaborative ways, enabling scale, relevance, and authenticity.”

The commitment to innovation is evident, with 70 per cent of CMOs planning to allocate over 20 per cent of their budget to innovation, reflecting the increasing importance of staying ahead in a rapidly changing market by leveraging innovative strategies and technologies.

Trust in Generative AI as a tool to enhance creativity and innovation is growing. While 67 per cent of CMOs doubted AI’s ability to create impactful content in 2023, this number has dropped to 49 per cent this year. A majority of 77 per cent of CMOs are now interested in training AI on their brand’s look, feel and tone of voice. The shift indicates a reappraisal of AI’s potential as a collaborator and co-creator rather than a threat to human creativity.

The Dentsu Creative 2024 CMO Report, decoded by Patricia McDonald, Global Chief Strategy Officer and team identifies eight key themes that offer an indispensable industry toolkit and roadmap:

• From Omnichannel Creativity to Omnipresent Creativity: CMOs need creativity in every aspect of their business, not just communications. 82 per cent believe creativity has more potential than ever to unlock growth.
• From Share of Voice to Share of Culture: Brands will scale in new ways, integrating with culture, content and entertainment. 88 per cent of CMOs agree it is more important than ever for brands to be part of culture.
• From Controlling to Conducting: Brands are built through ecosystems of connected talent, partners and creators. 77 per cent acknowledge that future marketing will collaborate between brands, creators and platforms.
• From Seamless Experiences to Distinctive Experiences: Brands will build differentiation through connected and distinctive brand experiences. 75 per cent of marketers agree that every touchpoint can and must tell the brand story—from communications to commerce.
• From Insight to Foresight: CMOs face pressure to act as the voice of the future, anticipating trends and desires before they arise. 79 per cent are challenged to use data and insight to predict future products and propositions.
• From AI as Competitor to AI as Co-pilot: As AI matures, CMOs are reappraising their potential as collaborators. The percentage of CMOs agreeing that Generative AI will never make content that moves us declined 18 percentage points year on year.
• From Innovation at the Edges to Innovation at the Core: Clients are investing significant proportions of their budget in innovation. 79 per cent of marketers plan to invest more than 10 per cent of their budget in innovation, with 56 per cent investing more than 20 per cent.
• From Taking Briefs to Transforming Business and Changing Society: CMOs want agencies to help transform their businesses through the power of creativity. 70 per cent agree they want their agency to bring them what they need, not always what they want. CMOs also aim to ensure their marketing activities are a force for good, with 78 per cent wanting their marketing activity to impact people, business and society.