However, the confidence among CEOs about the long-term growth of the advertising industry has dropped from 55% to 35% .
A recent Deloitte survey found 42% of CMOs hope to improve productivity and efficiency as a part of their pandemic-response plan. 28% of them are optimistic about reducing internal operations/operational costs, while 33% hope to improve customer engagement.
According to the CMO respondents, the majority (60%) of businesses has made cash donations for COVID-19 response, reduced prices for customers (39%) and created new products or services that directly address coronavirus-related needs (34%). Only 10% of organisations made no investments in the community.
61% of companies also automated more work through AI technologies. Deloitte’s Jennifer Veenstra said, “As many companies undergo rapid changes in digital to adapt to changing customer needs, they are simultaneously working from a defensive, operational mindset.”
[2 minute read]