New data from The CMO Survey indicates top marketers are being tasked with the digital transformation of their brands.
Marketing leaders report that they are in step with other members of the C-suite when briefing board members and shareholders. With increased visibility, they also face rising pressure to demonstrate the long-term value of marketing as an investment for their brands, according to the semi-annual survey, which is sponsored by Duke University’s Fuqua School of Business, Deloitte LLP and the American Marketing Association.
Senior marketing leaders – as opposed to leaders from other business functions – say they are driving about three-fourths (73%) of their firms’ digital transformation efforts. Digital marketing has now superseded brand strategy as their primary responsibility, with spending growing about 16% over the past year to comprise 58% of marketing budgets, the survey found.
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