【Boathouse】2023年CEO调查报告_67页_10mb

Summary of The Third Annual CEO Study on Marketing and the CMO

Core Content

This report presents the findings of the third annual CEO Study on Marketing and the Chief Marketing Officer (CMO), conducted in 2023. It highlights shifts in CEO perspectives on marketing, CMO roles, and the integration of Artificial Intelligence (AI) in marketing functions. The study is based on data collected from 150 CEOs of top U.S. companies through GLG Insight Network, with surveys conducted from September 9 to October 4, 2023.

Main Findings

CEO Perspective: Their Job, The Issues, The Stakeholders

• The complexity of the CEO's job has decreased compared to 2021/2022, with 55% of CEOs believing it is more complicated than in the past.
• 61% of CEOs were prepared for the impact of issues and stakeholders on leadership.
• CEOs are increasingly focused on financial performance as the leading issue, with AI, security/privacy, and cost cutting now part of the top increasing issues.
• Workforce issues, employee recruiting, and DEI have declined in importance, with 41% less impact than in December 2021.
• The top stakeholders influencing CEOs are business partners and investors/shareholders, followed by competitors and customers.
• CEOs are returning to financial performance at the expense of employee engagement.

CEO Perspective: Chief Marketing Officers

• CEOs want marketing to solve five core problems: drive revenue, differentiate from competitors, improve brand/reputation, transform the company narrative, and drive sales and market share.
• 51% of CEOs now believe short CMO tenure is a sign of success, up from 20% in 2021.
• 49% of CEOs rate their CMO as "Best in Class" in overall performance, with a significant increase from 20% - 21% in 2021.
• 87% of CMOs understand the CEO's vision and 80% take action to execute it.
• 73% of CMOs are described as "bold, push the organization."
• 91% of CMOs build trust well across the C-Suite.
• 20% of CEOs say the CMO is "on my side, I trust them," and 10% say the CMO "puts my needs before their own."
• 9% of CEOs believe their CMO is more loyal to them than to the company.

CMO Tenure and Performance

• 77% of CMOs understand the company's board and political dynamics.
• 69% of CMOs understand the P&L and balance sheet, up from 53% in 2021.
• 56% of CMOs participate in financial goal setting, down from 73% in 2021.
• 94% of CMOs attend board meetings, but only one-third participate in more than half of them.

CMOs and Artificial Intelligence (AI)

• 76% of CEOs are integrating AI into their organizations, with Marketing having the broadest AI adoption.
• 58% of CMOs have made AI presentations, asked for funding, or created new processes using AI.
• Over half of CEOs rate their CMOs an "A" or "B" for AI integration.
• The majority of CEOs view AI as a tool to sustain innovation, with a smaller portion seeing it as a means for disruption or efficiency.
• AI integration in Marketing is most prevalent in content generation/personalization and analytics, with customer experience and research also showing significant adoption.

Key Trends and Implications

• There is a shift from idealism to shareholder focus, with financial performance taking precedence over CSR, DEI, and employee-related issues.
• The personal relationship between CEOs and CMOs is declining, with 60% of CEOs reporting a drop in trust or loyalty.
• Marketing's role is evolving, with a focus on external business drivers and less on internal workforce concerns.
• CMOs are becoming more strategic and innovative, but still face challenges in financial literacy and strategic alignment.
• AI is a growing priority in marketing, with CMOs seeking to demonstrate its value and ROI.
• The need for stronger CEO/CMO alignment is critical for achieving company goals and maintaining trust.

Conclusions

• CEOs are increasingly focused on external business drivers, which has led to a decline in internal workforce and DEI initiatives.
• CMOs are being evaluated more positively overall, but there is still a disconnect in strategic alignment and financial understanding.
• The CEO/CMO relationship is showing signs of declining personal trust, which could impact the effectiveness of marketing strategies.
• AI adoption in marketing is growing, with a clear emphasis on content and analytics.
• The integration of AI requires careful implementation and a focus on long-term growth and company narrative alignment.

Appendix

• The study included 150 CEOs from top U.S. companies.
• CMO tenure and acquisition methods were also analyzed, with a notable trend towards shorter tenures and external hires.
• Survey responses indicated a 50% response rate from the original sample.