About 67% of the CMOs participating in the study released Tuesday rank digital advertising as the most important piece of their marketing mix, and another 67% rank website design and content as most important. The diversity required has become a challenge, making the management of agency and in-house partners much more complicated.
Today's teams include multiple creative partners to support everything from search to television advertising, according to 45% of those responding to the CMO Council. The study, Adaptability in Branded Content Delivery, published Tuesday found only 13% of marketers have one agency partner.
The study, developed in partnership with HH Global, is based on an online survey of more than 150 senior marketing executives polled during the second quarter of 2017. They work in retail, travel, hospitality, technology, consumer goods and telecommunications
Some 32% of marketers admit the need for data to drive adaptive initiatives in personalization, but other factors put even more pressure on strategies. For example, 48% say adhering to local values, religion, ethnic, and sensitives are more challenging. Some 44% point to new digital devices, format types and content needed to meet those local shifts.
Some 39% are not satisfied with their performance in this area and 49% highlight the need to improve their ability to target creatives; 42%, accelerate the time to market; and 23% are looking to measure the impact better.
Globalization makes it even more complex. Marketers say they feel the pain of building and executing multiple creative and local campaigns in a world where offline and online have begun to merge.
In fact the lag has impacted the ability to support local marketing requirements, with only 7% saying they feel confident in their ability to meet the needs of global markets. Some 37% admit they are not doing well or need to improve. Nearly half point fingers are shorter turnaround times; 43%, quality and uniform brand guidelines; and 38%, collaborative management platforms.
About 28% of respondents saying they work with multiple creative teams across multiple regions, and 20% have turned over creative adaptation to local teams.
Marketers admit failure when it comes to rapidly responding to the needs of consumers. Only 32% of respondents say their companies are either advanced or doing well in adapting brand content to different markets, partners and geographies. Another 34% say they are at least improving.
The study also found many companies fail to improve their capacity to adapt and modify branded content. Just 18% have completed a formal assessment of their creative delivery process and marketing supply chain effectiveness, although another 24% say they have begun one.
The findings also walks through solutions such as gaining a better understanding of markets, determine a core brand identity, gain access to platforms that can ease the pain, to name a few. Only 20% say they use online approval and proofing tools.