Marketing helps light the path for today’s CEOs

How marketing lights the CEO's path

How marketing lights the CEO’s path

The economic backdrop of the past decade has been filled with volatility and uncertainty. To get through it, companies from all sectors, including technology, have had to become more resilience by quickly adjusting to today’s shocks, while taking pre-emptive measures for the future.

In its 16th Annual Global CEO Survey, PWC, the world’s largest professional services firm, asked over 1300 CEOs worldwide what they saw as today’s critical business challenges and opportunities.

Within this volatile environment, more than ever, a marketing approach is helping to light the path forward for CEOs by providing key insights on markets and customers, and by helping to direct strategy to better satisfy client needs, while fighting off competitive threats.

Organic growth and product innovation are the key opportunities

When asked what they saw as the main potential opportunities for business growth over the next 12 months, 74% of CEOs cited organic market growth and new product development as the main growth vectors. In particular:

  • 32% favour organic growth in existing domestic market
  • 25% new product or service development
  • 32% organic growth in existing foreign market

These views reflect an increased level of pragmatism that is needed to survive and thrive in today’s world.

Rather than venturing into new markets, companies are consolidating and refocusing resources on existing operations, while continuously trying to create new offers to satisfy the evolving expectations and demands of clients.

At the same time, more than half of all CEOs polled saw changing customer preferences and buying patterns as the most serious threat to their business.

Renewed customer acquisition and retention strategies are needed to thrive

To offset changing client tastes, companies across all sectors have to increase efforts to attract and retain clients.

So its no wonder that new strategies for growing, retaining and fostering customer loyalty are being planned by 82% of CEOs over the next 12 months, of which 31% are planning major changes.

In the digital realm, companies now have the ability to engage with clients on an individual level – using social networks, forums, client reviews and other online resources and channels – allowing them to really understand their individual preferences and behaviour.

Using such insights, companies can then develop products and services for specific client segments, and deliver more relevant messages, all while enhancing their brand.

It’s partly for that reason why a full 75% of CEOs polled are also looking to selectively invest in client-focused technologies.

For more information on the CEO survey visit PWC’s dedicated webpage.

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One Response to “Marketing helps light the path for today’s CEOs”

  1. Externalize marketing? Why it makes business sense | Merkado | Technology Marketing Leadership Blog Says:

    […] advertising, events) and to a lesser degree in online advertising, as examined in our summary of PWC’s Global CEO survey, a large majority of firms are re-allocating budgets to those activities more directly linked to […]

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