How can brands keep pace with tomorrow's digital consumer?
Consumers call the shots. That’s the reality of the digital economy. For brands, the implications are far-reaching. Ultimately, they must engage with consumers in new ways while also re-engineer their businesses around rapidly changing needs, attitudes and behaviours.
Into the Unknown - CMO survey 2020
![CMO 2020](https://assets-eu-01.kc-usercontent.com:443/031bafac-1c0a-0102-8003-9323b978e07f/cbbbc292-09d2-4932-a0ef-79dc51ec7331/Screen%20Shot%202020-11-12%20at%2016.43.43.png?q=75&fm=jpg&w=960)
Today’s CMOs find themselves at a crucial juncture for the journey of their brands. The short-term, direct impacts of COVID-19 are now well understood and documented. Budgets have been slashed—nearly two-thirds (62%) of CMOs forecast their budgets to decline or stay static over the next 12 months (up from 41% in 2019). Less than a quarter of CMOs report only minimal disruption to their business, while nearly 1 in 10 report COVID-19 as an existential threat. Digital transformation has accelerated within brands and a rapid shift to ecommerce, virtual working and home-learning have all been witnessed in the first half of 2020.
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