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C-Suite Outlook 2023: Implications for Marketing & Corporate Communications
February 06, 2023 | Report
Net takeaways for marketing and communications
Marketers’ challenge will be engaging the CFO and the CEO in the strategies and tactics they use to drive this growth through investment and managing costs.
- There is a solid focus on the customer as the #1 stakeholder priority across the C-suite.
- Understanding customer needs is what marketers do. In recessions, those needs focus on value.
- The C-suite overall is in favor of increasing marketing spend (36% up vs. 9% down).
- Digital is the driver of investment shifting from mass marketing (ads, sponsorships, events) to more personalized promotion (improved customer experience and targeted customer acquisition).
For the communicators, the internal challenges are engaging employees and other key stakeholders. The C-suite still feels concerned about arising topics—especially geopolitical—and the level of preparedness for handling these emerging crises still needs to be elevated.
- Employees are the #2 stakeholder priority for the CEO, CFO, CMO, CHRO, and the ESG leader.
- Attracting and retaining talent is the prime internal area of focus.
- Issues like social justice, COVID-19, and geopolitical instability are still important but not as urgent.
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