Chief marketing officers will use AI to create content and to seek better returns from their advertising spend, according to a survey by US-based CMO Council, with AI Powered Marketing Cloud Zeta Global.
The CMO Intentions 2024: Fueling Martech Innovation Through AI study found more than 40% are looking to AI to light up content origination and minimise mistakes, inaccuracies and errors in marketing communication images, video and text.
They also seek more predictive outcomes from creative investments and higher levels of automation, productivity, and efficiency in internal and agency teams.
This would mean improved output and inspiration from a lower headcount.
“Marketing technology procurement intentions have made a massive swing to embracing new Gen AI tools, applications, and analytics,” said Donovan Neale-May, executive director of the CMO Council.
Almost 60% of marketers surveyed view AI investment as offering the most value and ROI in 2024.
Customer data is seen by nearly 46% of marketing leaders as the essential lubricant to recognise, personalise, humanise, prioritise, and vitalise engagement with the most valued buyers and loyal shoppers.
Better knowledge and understanding of customer journeys along with improved process, productivity, and workflow are high on the priority list for marketing technology investment in 2024.
"This study reinforces that we are in the early stages of a Replacement Cycle. Generative AI is the catalyst for sophisticated CMOs to recognise that there are superior technologies and tools to deliver better experiences for consumers and better results for their brands," said Steven Gerber, COO of Zeta Global.
CMO Intentions 2024 research findings are based on an online survey of nearly 200 chief marketing executives in North America and Europe.
A chart from the study:
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