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The CMO Growth Compass

The marketing landscape grows more complex by the day. Customer behaviors and technology advance at breakneck speeds. This forces CMOs to continually adapt strategies to avoid falling behind. 2024 promises more turbulence without proactive preparation.

By following this growth compass — focusing on privacy, customer insights, content, and AI proficiency — CMOs can transform obstacles into opportunities for their brands to thrive.

Privacy Forms the Foundation of Trust

As data privacy regulations like GDPR and CCPA mature, compliance cannot be an afterthought. 61% of customers will abandon brands after just one violation of trust according to Capgemini Research Institute.

Implementing privacy by design principles builds customer faith and legal reassurance. Regular privacy audits further validate policies and data practices live up to promised standards. Make privacy the cornerstone which all other efforts stand upon.

Stitch Together The Total Customer Picture

Unified views of the customer grow more challenging but increasingly important. With an average of 15 different touchpoints, brands struggle to connect insights across channels according to McKinsey. Investments in customer data platforms (CDPs) now represent table stakes — merging siloed data sources to reveal complete user histories, needs and future potential. Adding zero-party data like preference centers atop existing behavioral and transactional data illuminates the all-important “why’s” behind purchases.

Content Must Match Customers’ Needs and Contexts

In a world overflowing with digital noise, relevant content is oxygen for user engagement. Forrester predicts 50% of search queries will happen via voice assistance in 2024, completely altering how brands attract eyeballs. Creative leveraging of intent data across video, audio and text-based content unlocks smarter distribution and personalization at the right moments. Testing content experiences via ML further optimizes engagement. The race goes to those connecting contextual insights to creative campaigns.

Embrace the Age of Artificial Intelligence

The importance of AI proficiency cannot be overstated looking towards 2024, with IDC forecasting over 75% of enterprise applications leveraging AI. Across everything from martech stack coordination, predicting customer behavior, personalizing recommendations, or generating new content formats, AI promises immense capability gains for brands. But technology alone is not enough. Investing equally in developing an AI-ready culture across data, trust, skills and governance also proves critical to deftly navigating what lies ahead.

True North Ahead

With the CMO growth compass aligned to privacy, customer insight, content, and AI, the year 2024 — despite its swells and storms — offers moments of triumph for brands ready to embark. Having weathered relentless change over recent years, CMOs know better than most — adapting strategy while keeping ethics firmly at the helm allows any fleet to sail smoothly towards the future.

The key is setting a course ahead of time, backed by technology and talent ready to execute. Smooth seas never made an adept captain. But mastery over turbulence? That forever sets market leaders apart.

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