Perhaps more than any other function within organisations, marketing has been both challenged and transformed by the rapid rise and sophistication of AI. Utilising our insights gathered on a range of recent executive marketing search assignments, we unpack how these roles have evolved, and what skill-sets the best performing companies are looking for.
The rapid advancement of artificial intelligence (AI) has ushered in a new era of innovation, transforming industries and reshaping the way organisations operate. As AI becomes even more sophisticated, specialized, and diverse, the potential for both positive and negative organisational impacts are increasingly likely.
In a recent study of more than 1,300 global CEOs, more than two in three (70%) said generative AI is their top investment priority, but more than four in five (82%) thought AI may also provide new attack strategies for adversaries. AI-powered malware, manipulative machine learning and automated exploitation are just a few nefarious examples that organisations are increasingly exposed to.
Yet AI has also become a cornerstone of modern marketing and communications, and is already having a positive impact on organisational profits, efficiencies, and customer loyalty. Having worked with a wide range of high-performing organisations on the identification and placement of top-tier marketing leaders recently, we are seeing a number of patterns and preferences that indicate where marketing is headed, its future potential, and the key characteristics of best-of-breed marketing talent.
We have identified six main trends. Three are strategic (how AI is influencing what the best marketing executives do differently), and three are behavioral (how AI is influencing how the best marketing executives do things differently).
Data-Driven Insights and Decision-Making
Marketing leaders are increasingly expected to utilize data insights and predictive analytics tools to make informed and intelligent campaign decisions. A wide range of AI platforms now analyze vast amounts of data, customer preferences and behavior, and provide tailored solutions and recommendations. Elements of the digital marketing mix such as lead scoring, dynamic pricing, and A/B testing are also becoming increasingly sophisticated.
Customer-Centricity and Hyper-Personalization
Major advancements in customer segmentation and hyper-personalization have taken place. There has been an increased need and expectation that senior marketing executives understand how to utilize AI algorithms to craft individualized customer experiences and content at scale. For example, churn prediction software can identify which organisations’ customers are most at risk of leaving, and deliver personalized retention campaigns.
Efficiency and Automation
Senior marketing leaders are increasingly expected to drive the adoption and usage of automation tools. We have found the best senior marketers are well versed in and have a continuous curiosity about development in marketing automation, chatbots, content generation, social media monitoring and image recognition software (the latter two are highly useful for brand protection and enhancement).
Cross-Functional Collaboration – Tech Focus
We are finding that the marketing functions with the most success are those that have a high focus on effective communication and cross-functional collaboration, particularly those that are closely aligned with the firm’s technology leaders. Marketing has traditionally worked closely with sales, product development, and customer support teams, but working with Chief Data Officers, Chief AI Officers and CTOs/CIOs is ever-more paramount.
Agility and Adaptability
In the rapidly evolving digital landscape, senior marketing roles demand adaptability. Companies seek leaders who can pivot quickly in response to market shifts and emerging technologies. Being open to experimentation, embracing change, and leading agile teams are qualities highly sought after in today’s marketing C-suite. A tech-savvy CMO can harness AI technologies to redefine and enhance the business value of marketing.
With great data comes great responsibility. As AI becomes more integrated into marketing, we are finding our clients have an increased need for their senior executives, and particularly their senior marketers, to address ethical concerns surrounding data privacy, bias, and transparency. Companies are seeking leaders who can navigate the ethical complexities of AI and ensure that customer trust is maintained.
In conclusion, the future of success in senior marketing roles is undoubtedly tied to AI. Our clients are increasingly aware that CMOs who can harness the power of AI while maintaining a deep understanding of human psychology and consumer behavior will be invaluable to their organisations. The ability to strike a balance between data-driven decision-making and creative storytelling will be a hallmark of successful senior marketing leaders. In doing so, they will not only drive business growth but also shape the future and value of marketing in an AI-powered world.