UK CMOs to increase marketing spends

New Ideas in MarketingEssential news for marketers, summarised by YouGov
February 01, 2021, 12:49 PM UTC

LinkedIn’s recent study of more than 300 UK C-suit executives reveals that CMOs expect role changes due to COVID-19.

With pandemic impacting operations, 56% of C-suite executives are focused on reallocating funds to stimulate customer spends. Further, innovating new revenue streams has become a priority for large organisations. 44% of executive leaders reported plans to increase their marketing spends.

Of those polled, 74% expect role changes amid the pandemic. Support for functions like employer branding, internal communications, learning and development is expected to increase by 58%. Also, tech and data will play a major part for 53% of CMOs.

Pivoting from in-person events to virtual events and reaching new consumers is the focus for 41% and 30% of marketing leaders respectively. Tom Pepper, head of marketing solutions at LinkedIn UK, Ireland and Israel says CMOs must focus on upskilling to bridge potential skill gaps.

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