CORE
January 2023
What do you get when 70+ marketing executives converge? Powerful ideas, tricks of the trade and a behind-the-curtain look at their expectations for the next year.
That summarizes Arketi’s 16th Annual Tech CMO Roundtable. Some of our attendees’ predictions were new and trendy, others tried and true. But all offer a glimpse into how marketing and communications executives are thinking about 2023.
Use these 10 predictions to inform your own strategy for 2023.
Data is darling…until overload sets in. Every attendee said data-driven marketing will continue to be a priority. But users beware. Determining which metrics are aligned with desired outcomes is key. Drilling too deep into the data can become an exercise in futility – aka analysis paralysis. Keep it simple.
Half of participants are unsure whether they’ll include influencer marketing in their 2023 marketing programs. 60% indicated they will likely do less or the same amount. Why? Difficulties with conflicts of interest, regulatory complexities, and a desire to avoid being associated with the wrong influencer. Micro-influencers, or influencers with smaller, niche audiences may stand out. Time will tell.
It’s long been an Arketi mantra: to be a thought leader, you must first have a thought. A majority of execs said they would increase thought leadership efforts this year, with three-quarters focused on executive visibility. This is great for top dogs with something meaningful to share. But marketing must stay involved to ensure executives offer a truly unique perspective. Regurgitating best practices will not cut it.
“Marketers as growth enablers” was a recurring theme, especially when it comes to equipping sales with the tools, resources and intelligence it needs to engage leads and close deals. More than half said ABM campaigns will remain a priority. And four out of five said they will create more or the same amount of sales content. Most marketers in the room plan to increase lead generation and nurturing.
Marketing and digital marketing are practically synonymous. Marketing via digital channels, however, stood out in our Roundtable discussions. Nearly three-fourths of participants said they will enhance their websites in 2023. A similar amount will increase video production. That’s followed by 80% of seasoned execs shelling out more toward advertising in addition to marketing automation and technology investments. Clearly, digital still generates results.
Product marketing has gained significant traction. Many executives described it as one part of a three-legged stool, along with marketing and sales. Reducing friction and increasing alignment between these departments is a top priority for 2023. More than half of attendees said they will prioritize product marketing because of the immediate impact it has.
Not a single executive plans to cut back on content marketing. The entire room indicated it would do more or the same as last year. Still, the “content clutter” struggle is real. Expect to see more purposeful content with highly tailored, specific use cases. Consider Arketi’s Rule of 7 – you should repurpose each piece of content at least 7 different ways.
Corporate purpose reappeared as a top trend. Across the board, marketers said they would seek ways to activate purpose with stakeholders internally and externally. The acronym ESG – environmental, social and governance – cropped up repeatedly, with an emphasis on the “social.”
The group agreed marketing is a critical source of industry knowledge, emerging opportunities and market landscape. Although once a broader corporate function, executive leadership increasingly looks to marketing for data-driven insights and knowledge. This helps leaders make more informed decisions around overall sales strategy, product development, customer engagement, sales and everything in between.
This year’s keynote speaker presented a well-researched case for why CMOs MUST be involved at the board level. Whether it’s through the CEO, CFO or a board member directly, marketing must align with the strategic vision and goals the board wants to achieve. Marketing dissatisfaction at the board level tends to come from a lack of alignment, not so much a lack of interest or buy-in.
It’s nice to share, which is why we wanted everyone to have this top 10 list. As a little something extra, here’s one final thought from our Roundtable: Marketing should be involved with recruiting and retention. HR cannot go it alone in today’s workforce. Marketing can help bring the story of an organization to life – especially when it comes to showing off what makes your company a great place to work.
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