Takeaways from the 2024 CMO Forum
Earlier this month, we had the opportunity to attend the CMO Forum where we participated as guests, moderators, and workshop facilitators. This prestigious event brings together marketers, futurists, and some of Canada’s brightest thought leaders to share insights on emerging trends and swap strategies for navigating the ever-changing consumer landscape. From marketing in the age of AI to nurturing the next generation of talent, we tackled key challenges reshaping our industry while sharing best practices for success.
During our lunch workshop led by our partners, Manoj Raheja and Debra Kavchak-Taylor, we engaged in dynamic conversations with industry leaders about how to turbocharge future marketing teams and pinpointed some gaps in skill sets and fundamental practices.
A brief poll of attendees revealed some insightful findings and opportunities:
Finding 1: 63% of respondents view the evolving landscape of consumer behavior as the biggest challenge for marketing leaders today.
Opportunity: With the significant demographic shifts occurring in Canada, there’s a tremendous opportunity to invest in understanding your "Who." Do you understand how the distinct attitudes, needs and behaviours of new Canadians and next gen cohorts are impacting your category? Going deep is essential to futureproofing your brand.
Finding 2: Marketers recognize that data and insights capabilities are among the most critical skillsets for the future, yet many feel there’s still work to be done in upskilling in this area.
Opportunity: This indicates a need for marketers to invest in their professional development. By upskilling data analytics and insights capabilities, teams can enhance their decision-making and drive more impactful strategies.
Finding 3: Marketers are most confident in identifying what success should look like and what their brand should stand for, but they often lack clarity on how to effectively measure true success.
Opportunity: This suggests that marketing leaders may need to rethink their approach to metrics and KPIs. Are your existing metrics not actionable? Are you able to articulate what truly needs to be measured to ensure you’re progressing towards your goals?
Manoj also had the privilege of moderating an engaging panel with marketing leaders from Canadian Tire, Labatt, and Nestlé on the crucial topic of Nurturing Next-Gen Talent Amid Disruption. This subject resonated deeply, sparking meaningful conversations about the future of our industry.
To set the next generation of marketers up for success, panelists highlighted four key areas where leaders can effectively train and support emerging talent:
Marketing Fundamentals: In a world full of shiny new trends, it's easy to overlook essential marketing fundamentals. It is crucial to ensure that young marketers develop a solid foundation of core marketing skills while also acquiring the necessary digital competencies.
Training & Development: While change is hard, irrelevance is harder! We must consistently provide learning opportunities and professional development to help emerging marketers hone their skills in this fast-paced environment.
Breaking Down Silos: To set the next generation of marketers up for success, we need to offer them opportunities to explore different areas of the business. The more exposure they have, the more well-rounded they become.
Creating a Safe Space: With failure being more visible than ever, fear can hold new marketers back. Our role is to create an environment where they feel empowered to take risks and think big.
We loved being among so many bright minds, exchanging best practices and innovative ideas for the future. We're always eager to support savvy brand builders in achieving success. If you're interested in discussing how we can help you grow and futureproof your brand, let’s connect!