Marketers forced to do more with less

A general belief across industry thought leaders is the need for marketers to do more with less. Which means reassessing, realigning and rebuilding foundations in order to be smarter about marketing.

“If the last few years have taught us anything, it's that 2023 is going to be packed full of surprises. None, though, should come from your marketing team,” advises Shippit CMO, Brett Chester. “Marketers should have a twofold focus in the year ahead: Solidify your foundations and do more with less.

Environmental ethics come to the fore in the ad supply chain

Reducing environmental impact has become a board imperative as customers and stakeholders demanding organisations operate more ethically. Sustainability and carbon emissions will be an additional metric CMOs need to consider in their own supply chain in 2023 and beyond, forecasts Scope3 head of JAPAC, June Cheung.

“CMOs will come under greater pressure from their boards to drive sustainable digital advertising practices, not only because it is the right thing to do but because it is driving business performance,” she says. “More CMOs will discover reducing carbon emissions actually delivers better media ROI and performance so will look for agencies who can deliver more effective and carbon-neutral advertising.”

Marketers must confront data privacy, transparency and governance

When it comes to digital marketing, there’s one word that should be dominating the CMO’s thoughts in 2023 for InMobi’s VP and GM A/NZ, Richard O’Sullivan: Privacy.  

“Now the Privacy Legislation Amendment Bill 2022 has passed both Houses of Parliament, it will mean markedly heavy penalties for a serious or repeated breach,” he warns. “This is a fairly hefty Sword of Damocles hanging over the heads of CMOs when reduced addressability due to the imminent demise of third-party cookies and Apple’s IDFA means first-party data, with its own inherent privacy risk in terms of consent and usage, becomes increasingly important.

 It’s about community authenticity, not influencers

Fiverr chief marketing officer, Gali Arnon, takes the concept even further, suggesting it’s power of community that will be the CMO’s superpower in 2023.

“With society being highly fragmented due to the pandemic, and societal issues like gender equality, LGBTQ+ rights, and geo-political issues, consumers expect more from brands and want them to have a voice in these conversations,” she says. “Brands need to tap into what their communities are saying, listen carefully and no longer remain neutral on important topics. A brand is nothing without its community, and the move towards a community-based approach is fuelled by the use of social media.