CMO Intentions 2024 Report Predicts Adoption of Gen AI in Marketing
The CMO Council has released the ‘CMO Intentions 2024: Fueling Martech Innovation Through AI’ report. The report is based on a study that was conducted in partnership with Zeta Global in 1st quarter of 2024. Zeta Global is a top AI Marketing Cloud that has been focusing on Generative AI drivers to boost marketing innovation, productivity, and effectiveness.
According to the report, Chief Marketing Officers are intentional about integrating and applying Gen AI in their marketing processes this year. They are also clear on the areas where such an application would give them optimum results. For better marketing outcomes, 50% of CMOs surveyed prioritized customer insights, unified execution, and functional alignment.
A press release published in Globe Newswire shows that the CMO Intentions 2024 study involved 200 respondents drawn from the 16,000 CMO Council membership in Europe and North America. Collectively, CMO Council members control close to $1 trillion each year in aggregated marketing expenditure globally.
Major Shift in Marketing Technology
Marketers who participated in the CMO Intentions 2024 survey reported that they’ll be making a marketing technology shift to Generative AI applications. They said they’ll be deploying AI in content creation to achieve more impact and personal resonance.
Donovan Neale-May, executive director of the CMO Council said, “Marketing technology procurement intentions have made a massive swing to embracing new Gen AI tools, applications, and analytics.”
According to Neale-May, 60% of survey respondents see MarTech as an investment that offers their brands the highest value and returns in 2024. Marketers expect execution of AI-driven content strategies to make their brands more adept and adaptive in engaging and connecting with audiences across borders, cultures, and psychographics. AI-driven content execution is also expected to ease the process of meeting marketing partner and channel requirements.
AI-Driven Content
More than 40% of survey respondents said they’re counting on Generative AI to boost their content marketing efforts, including content origination. They said the technology will come in handy in minimizing inaccuracies, mistakes, and errors in marketing communication text, videos, and images. For 46% of marketers, customer data remains a crucial lubricant for personalizing, prioritizing, humanizing, and vitalizing engagement with their most loyal and valued customers.
Steven Gerber, President and COO of Zeta Global said, “This study reinforces that we are in the early stages of a Replacement Cycle. Generative AI is the catalyst for sophisticated CMOs to recognize that there are superior technologies and tools to deliver better experiences for consumers and better results for their brands.”
CMOs are looking to improve output through increased automation and creative investments. In 2024 Martech investment decisions will be determined by the ability of products to provide marketers with a solid understanding of buyer journeys and improve marketing workflows, productivity, and processes.
The CMO Intentions 2024 report shows revenue growth is a high priority for 60% of marketers. They expect the major shift in marketing technology in 2024 to Generative AI to impact performance and productivity by reducing cost and increasing operational efficiency.
