Purpose Gets Real | CMO REPORT
CMOs are moving beyond “purpose washing” through campaigns to pivoting their business model to a more sustainable approach for a volatile world.
PURPOSE GETS REAL: BY THE NUMBERS
69%
69% of CMOs agree that we are so focused on purpose, we have forgotten how to sell. This doesn’t however mean an end to purpose, but rather an end to purpose as a side project and a pivot towards purpose as a core driver of sustainable business growth.
78%
In a world where every industry is facing radical climate-accelerated disruption, a brand’s approach to climate and its commercial success will be inextricably linked. 78% of marketers believe that in a world where economic volatility is accelerated and exacerbated by climate volatility, there is no longer any disconnect between what is good for society and what is good for business.
As we see all too plainly around the world, the cost of inaction on climate change will rapidly outstrip the cost of action as governments legislate against industries with the most damaging footprint. As we have seen across 2023, businesses in every sector are impacted by extreme weather and its ripple effects on supply chain and business continuity.
81%
81% of CMOs agree that their business will undergo a fundamental pivot in response to climate change while 78% state that every brand should possess an ethical purpose or a socially conscious mission. This thinking is even more pronounced in the United States, where an overwhelming 94% of marketers share this perspective.
Yet it is becoming more challenging today for brands to take an ethical stand or make bold claims about their carbon footprint. On the one hand, we see an emerging and vocal backlash, on the other we see concerns and regulations around over-enthusiastic claims or “greenwashing.”
Creative agencies have a vital role to play in helping clients navigate these difficulties and make lasting change.
PURPOSE GETS REAL: WHAT IT LOOKS LIKE
MAKING IT REAL
On a positive note, we are seeing a significant decrease year on year in the barriers and blockers CMOs encounter when pressing for more sustainable business.
The most significant declines were in the area of logistical complexity, collaboration, and sustained investment, although 45% of CMOs still cite lack of collaboration as a significant hurdle.
OUR WORKS…
COLORS OF THE WORLD
Brand: CRAYOLA
Creative Agency: DENTSU CREATIVE US
Crayola's skin tone pack, a product idea first created and launched in 1992. In 2022, Crayola launched 24 specially formulated crayons to mirror and represent over 40 global skin tones, while meeting the growing diversity of the world with increased creativity and representation.
We realized that the word “diversity” had become corporatized and consumers had begun to interpret it as lip service and we did not want to follow suit. Instead of viewing diversity as something to be gained, we wanted to see the way the world is to approach the product and campaign in a way as to claim new ground and speak to what consumers are looking for from brands today: inclusion. Our strategy was to create a space where inclusion for all was inherent and totally banish the feeling of invisibility by showing both kids and adults that the Colors of the World pack truly is for all.
By holding a Crayola crayon to anyone’s skin and seeing a match, children around the globe could feel represented like never before and by doing so enhance the lives of kids everywhere one Crayola crayon at a time.
WHAT IT MEANS FOR BRANDS AND BUSINESSES…
SUSTAINABILITY IS NOT A SIDE PROJECT
Sustainability can no longer be a side project or nice to have. In a world where an increasingly volatile climate is having a direct and material impact on businesses across every category, the only long term-growth is sustainable growth.
SYSTEMIC CHANGE STARTS WITH SYMBOLIC ACTION
Systemic change is needed but is hard-won. Our Dentsu Good methodology urges brand teams to think about the symbolic actions that will signal change and become a beacon and rallying cry for the organization.
WE SELL HOPE
While we are confronted every day with ever more alarming headlines on climate change, we have huge power as an industry to inspire hope in a sustainable future and inspire the action needed to make change possible. While infrastructure and innovation are needed, only through the power of emotion can we affect lasting behavioral change.
This article is part of DENTSU CREATIVE’s 2023 Global CMO Report, ‘Creativity at a Crosswords’. Using data from a survey of 700 CMOs and senior marketers in the US, UK, Australia, Brazil, Canada, China, India, Italy, and Spain, the report has identified eight key themes which show that despite being an industry at a crossroads, it is one empowered by creativity and technology.
Our report helps you understand how your business, brand, and investment strategies compare with other CMOs. Are you in step with peers around the industry or carving your own path? Are there areas where you’re investing ahead of the industry or others where you may be lagging?
For full report, please visit DENTSU CREATIVE global website: www.dentsucreative.com/news/CMO-report-2023-download
TAP TO READ MORE
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DENTSU CREATIVE 2023 CMO Report: Creativity at a Crosswords
-ENDS-
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