Ms. Diethelm, the CMO Barometer has now been collected in Switzerland for the fifth time. What is the goal of this survey?
Nathalie Diethelm: The aim of the CMO Barometer is to draw a current picture of the mood of marketing decision-makers. We want to identify strategies and trends and find out which skills are currently central to successful marketing. This is in Switzerland, but also in an insightful comparison with leading markets in Europe and the Middle East. We want to provide guidance on how leadership, technology and local identity interact and better understand how the industry deals with local and global challenges. The results serve as a compass for companies, agencies and the entire marketing community.
Speaking of other countries: Are there big differences in how people feel and if so, what are they?
Diethelm: Yes, these differences exist. Swiss CMOs, for example, are looking towards the coming year economically with caution or skepticism, while other markets such as the Middle East are much more optimistic.
Philip Zsifkovits: There are also differences in the crucial skills of those responsible for marketing. In Switzerland, human qualities such as leadership and team building come first; on average, digital and technological skills dominate. However, such differences are not necessarily stable. They also depend on geopolitical and economic developments. The state of mind can change significantly due to global events.
“Excessive austerity measures could weaken competitiveness in the medium term”
How do CMOs assess the future prospects?
Zsifkovits: The majority of Swiss CMOs assume a stable economic situation in their industry, but skepticism is growing. Around a third expect things to get worse, only 11 percent expect an improvement. Given the global uncertainties and competitive pressure, this is understandable. The shift is striking compared to previous years: optimism is decreasing, caution is increasing.
How does this affect? Budget reductions?
Zsifkovits: Yes, the cautious outlook is also reflected in the budget planning. Almost half of Swiss CMOs expect marketing budgets to remain the same, while around a third expect cuts. Only 22 percent expect an increase; internationally the figure is 31 percent. Switzerland is also more cautious here. What’s interesting is that these CMO self-assessments fit well with macro data and market movements. This confirms to us that the CMO Barometer is a good indicator of future developments in the Swiss marketing market.
Diethelm: The danger is that excessive austerity measures will weaken competitiveness in the medium term. This is a balancing act that also depends on internal priorities and corporate strategy.
AI is the biggest topic among marketing managers. What impact does this have on marketing?
Zsifkovits: Artificial intelligence is already changing marketing today. Efficiency, automation and data-based decisions are becoming more important. In addition, marketing must support the entire organization in the responsible use of AI, for example when it comes to data protection and ethical issues. At the same time, the challenge remains to combine technology with creativity and customer proximity. This is also reflected in the high emphasis placed on customer experience and personalization, especially in the Swiss market. But despite all the technological innovation, the further development of the brand remains centrally important. This just shows that emotional brand building in Switzerland is consistently among the five most important trends in the survey. What is also interesting in this context is that sustainability, which was still perceived as a dominant trend in 2023, no longer appears in the top 5 today.
Diethelm: We also see that some companies treat AI more as a hype topic. Actual penetration still varies greatly depending on the industry. With our new AI Marketplace, we support and accompany companies in using AI in a practical way.
“The CMO is increasingly becoming an orchestrator”
Have the requirements for CMOs changed in the last five years??
Zsifkovits: The various crises, conflicts, unpredictabilities and rapid developments of the last few months and years are also reflected in the skills profile of the CMOs: A large and increasingly important part of the top 5 skills revolves around transformation skills. However, leadership and team building are still considered most important in Switzerland, while internationally tech and data skills have become more important.
Diethelm: This development is not only an opportunity, but also a challenge and is changing the role of the CMO. He or she is increasingly becoming an orchestrator between internal departments and external partners. A demanding but central task.
Ms. Diethelm, you run the House of Communication Zurich. What conclusions do you draw from the CMO Barometer for advertising agencies?
Diethelm: Agencies should not only implement, but also provide strategic impulses and drive innovation. With a primary focus on creative excellence and “out-of-the-box” thinking, but also on innovative strength and the ability to not only recognize trends, but also specifically integrate them. In the eyes of CMOs, they should not just be individual service providers, but rather act as part of a networked service portfolio. The integrated model of the House of Communication combines creation, strategy, technology, media and production – this creates measurable added value for customers.
You are a “co-organizer” of the CMO Barometer. How much effort do you put into this?
Diethelm: The effort should not be underestimated: from conception to international coordination to evaluation and publication – together with our partners, the University of St.Gallen and Heidrick & Struggles. Ultimately, the effort is definitely worth it, because we are convinced that the CMO Barometer shows marketing decision-makers in which directions marketing is developing. And we as House of Communication benefit from this because we can tailor our services more specifically to the needs of CMOs. Last but not least, it is also a personal matter. Jointly responsible for the entire industry, it is also important to Serviceplan to do something for marketers and therefore be happy to make these insights publicly available.