CMO_SpendMgmt_DigitalTransformation
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The document summarizes a marketing conference presentation about digital business transformation and marketing spend management. It discusses trends in marketing budgets across industries and challenges in managing resources and consumer journeys. Key areas of focus for CMOs are improving marketing data and analytics, customer understanding and experience management, and investing in marketing technology tools like AI for tasks such as predictive analytics, content management, and ROI tracking to better allocate resources.
CMO_SpendMgmt_DigitalTransformation
- 1. Marketing Spend Management as Digital Business Transformation Takes Center Stage Ryan Fernandes CMO Conference 23rd May 2023
- 2. Agenda State of Marketing Budget Resource Mix Consumer Journey Challenge Areas of Focus Capability building Investments in AI tools Summary
- 3. State of Marketing Budgeting 6.4% 9.5% 10.9% FinServ, Travel, Tech CPG, R. Estate, Health
- 4. Resource Mix Unchanged Challenges 1. Slow evolution in Agencies 2. Increasing cost & decreasing impact of digital media 3. Push to build in house capabilities 4. High switching cost of MarTech| Latest = Unproven
- 6. Areas of Focus for CMOs 1. Marketing data and analytics - 26% 2. Customer understanding and experience management 23% 3. Marketing technology - 22%
- 8. Investments in AI tools Executive Dashboards Data Consolidation Automated Analytics - Reporting Executive Dashboards Predictive tools Content Management Copy Image/ design Personalization ROI tracking Resource allocation
- 9. Summary
- 10. Questions?