The role of CMO has always been a complex and busy role. But these days, more and more CMOs are feeling the weight of increasing demands on their resources.
It’s not just more traditional duties that are filling their plates – it’s also new technologies such as AI. A new survey from McKinsey found these concerns from CMOs:
- The duties of marketing leaders are increasing, especially with generative AI, yet just over one-quarter (27%) feel that they have adequate resources in their organizations to manage the load.
- A majority of marketers (87%) said that brand building is a top priority for them, yet just over half of them (58%) think their organizations are adequately capable in this area.
- Barriers named by marketers include:
- Internal silos (36%)
- Insufficient budget (34%)
- Insufficient human resources within the organization (32%)
- Incoherent concept for strategy (32%)
- Marketers said that marketing performance management is required (80%), but only 40% have confidence in their execution of this function.
When it comes to AI, marketers see these use cases:
- Driving creative efficiency
- Personalization at scale
- Media optimization
- Customer experience improvement via search and chat
- Automation of marketing business
While almost three-quarters (74%) of marketers see AI as an opportunity, not a risk, only 5% are working on building up their generative AI capabilities, and only 4% are scaling use cases.