[London, 19-07-2023] A recent Gartner survey of hundreds of CMOs showed the changes in marketing spending. The annual survey aims to advise enterprise leaders on achieving results and developing the skills needed for growth during a challenging time.

Challenges During the Pandemic
Digital marketing leaders always wanted more resources, including budget, technology, data, human resources, and recognition from management. A survey conducted before the pandemic lockdown showed that CMOs were unaware of the situation's impact, including the adverse effects on marketing budgets and customer experiences.

However, the pandemic also provided a new opportunity for digital and technology. Brands previously behind their competitors had to switch to digital channels to communicate and make transactions with audiences stuck at home. Brands already investing significantly in digital had to increase their investments even more.

Added Challenges
Even after the World Health Organization has declared an end to the global health emergency caused by Covid-19, it is still far from returning to normal. The C-suite is concerned about various issues, such as the recent failures of major banks and the inconsistencies of social media platforms, which affect them regardless of their exposure to these impacts.

High-Interest Rates
The potential return on investment for new projects is affected by increased interest rates. Due to the present macroeconomic conditions, investors are giving higher importance to immediate profits and cash flow instead of waiting for future expansion.

Challenging Talent Market
The talent market is challenging, with high staff turnover rates and intense competition for strategically important positions. Employees also express reduced trust in management and tensions around hybrid and remote working arrangements.

Slow Digital Transformation
The 2023 Gartner Board of Directors Survey showed that 81 percent of boards have either not progressed or failed to achieve their digital business transformation goals, indicating a delay in digital transformation.

To be an effective leader, you should establish a clear marketing plan that outlines its scope and how it contributes to the organization's overall goals. It's essential to be specific and ensure the function's scope aligns with the enterprise's goals. To create a successful plan, marketers should focus on the essential elements of strategic management and eliminate unnecessary details that do not support their goals.

About The Lone Crowd
The Lone Crowd is a creative agency that believes every business has a unique story to tell, big or small. Founded in 2023 and led by women, its mission is to enhance the storytelling capability of businesses through effective design. It aims to empower all industries to achieve new heights of success through technology. Its unique brand name represents a powerful concept that blends individuality with community. Despite living in a world of noise and conformity, the brand stands out as a beacon of uniqueness and individuality.

Visit us at https://thelonecrowd.com/ to learn more.