Dripped Digest #42: The Era of Sudden Change P2

So it’s Wednesday again. That means: a promised comeback with the P2 of the Dentsy Creative CMO Report 2024.

I've even opened a new pack of Sweven coffee to celebrate. ?

Finally, we'll be gathering the experiences and opinions of more than 950 CMOs ?? from 14 markets to get their perspective on creativity.

You can find the previous edition here:

What we'll talk about today:

1. FROM INSIGHT TO FORESIGHT.

CMOs are under pressure to not only be the voice of the customer, but also the voice of the future, anticipating trends and desires before they emerge. 79% of CMOs are challenged to use data and insights to predict future products and offerings.

2. FROM AI AS A COMPETITOR TO AI AS A CO-PILOT.

As AI matures, CMOs are reassessing its potential as a collaborator and co-creator, rather than seeing it as a threat to human creativity. ?? The percentage of CMOs who believe that AI will never create content that moves us has fallen by 18 points compared to the previous year.

3. FROM ORDER TAKING TO BUSINESS TRANSFORMATION.

With uncertainty on the horizon, marketing's role in driving growth is becoming increasingly important. CMOs want agencies not just to answer briefs, but to help them transform their business through the power of creativity: 70% believe their agency should bring them what they need, not always what they want. ??

FROM INSIGHT TO FORESIGHT

If you’re not at the top, you may have already forgotten about winning. The pressure is on.

You need to anticipate trends and innovations even before they're visible to the mainstream. ??♂?

Many are turning to machine learning and artificial intelligence, and marketers are on the run to create foresight for the business.

Sounds like a big deal. Well, it's. 89% of respondents cited changing consumer behavior as one of the most important issues, and 40% cited it as one of the most important. ??

Another report from Dentsu, Consumer Vision 2035, reflects this:

77% of consumers worldwide “want brands to be able to anticipate their needs and proactively offer relevant and helpful products and services.”

In response, marketers are investing in data and insights. 59% of CMOs say they're using AI and machine learning to predict changes in consumer behavior, 59% are investing in social listening to anticipate changes in sentiment, and others are engaging communities in a process of insight generation and co-creation.

But understanding what drives a niche trend or a community with potential to scale remains a very human and manual endeavor.

FROM AI AS COMPETITOR TO AI AS CO-PILOT

And who cried out last year that AI will not even create a work that touches our hearts? Well, in 2024, no one is so sure anymore. Instead of believing that human craft and artificial intelligence are strictly separate, many are now interested in exploring the intersection between humans and technology. ??

In last year’s survey, 75% of respondents agreed that generative AI will never truly replace human imagination. This year, that number has dropped to 65%.

Good work, AI. ??

The positive outlook is that AI will not compete with human imagination, but will give it superpowers: the ability to deliver, personalize and respond to big, bold and emotional ideas on an unprecedented scale.

FROM TAKING BRIEFS TO TRANSFORMING BUSINESS

Perhaps the most important finding from this survey is the changing role of the marketing department.

79% of CMOs believe that “marketing is seen as a driver ?? of business change in my organization”, compared to 67% who believe that “marketing is seen primarily as communication in my organization”.

In addition, CMOs increasingly want their marketing activities to have an impact not only on the business but also on society; 78% agree: “I want my marketing activities to have an impact on people, business and society.” 77% believe that brands have a responsibility to change society for the better, while 62% of CMOs are concerned about the impact of their marketing activities on the planet and society. ??

WHAT DOES ALL THIS MEAN FOR BRANDS, COMPANIES AND AGENCIES?

As an industry, we are now in an age of sudden change. Technology is evolving at an exponential rate. Climate change is happening in the here and now, not in the distant future, and is estimated to cost the global economy 38 trillion dollars by 2050.7 The political climate is more volatile than it has been for many decades. ??

The communications landscape we are building and working in is at the center of many of these changes.

What we do

Great brand ideas that win hearts and minds will be more important than ever. But these ideas will be brought to life in new ways.

??To be successful, we need ideas that truly impact people, business and society. Influencing people through ideas that create culture and connect communities.

Impact society through ideas that create lasting change, not just a flash in the pan. Impacting the economy through innovations that change business models and routes to market.

How we do this

As brands are built through partnerships and with communities, agencies will become organizers, curators and facilitators. The agency of the future will be an ecosystem designed to connect and inspire the right talent with the right brief, powered by real-time insights. ??

Why we are doing this

Creativity will be needed more than ever, but it will be a new kind of creativity. A creativity that extends to all aspects of a client’s business, from product to operations and supply chain to communications. ??

This is " Transformative Creativity".