“We’re seeing a different evolution of how CMOs are expected to drive growth,” she added. “They’re bringing revenue and high margin into their businesses.”
Peterson also discussed how marketers can better structure their teams, develop artificial intelligence frameworks and select their partners to level up their marketing mix.
“Where the real scale is in the marketing industry is through external partners,” she continued. “CMOs are looking to external partners to help them drive growth: 36% of brands plan to renegotiate their agency partnerships in 2024, while 30% will look to add specialist agencies to their roster.”
With four new Ps on the rise in 2024, marketers will have a lot of plates to spin, and they’ll certainly be looking to agencies for a helping hand.
You can read more insights from Adweek’s Outlook 2024 event here.
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