According to a recent study by Deloitte and Lions, top positions in business organizations are becoming more and more focused on growth and revenue production due to growing technologies and cultural, political, and pandemic-related changes.
The report also claims that multinational corporations underappreciate the importance of creativity in the quest for growth.
The researchers found that analytical abilities were becoming more important than design skills for the CMO function.
“According to job advertisements for the CMO position, demand for design abilities has dropped 41% since 2019 and is much lower than that for analytical skills. The authors note that “CMOS rate analytical expertise as a more crucial skill than creative experience among their finest performing talent.
The report also shows that the number of chief creative officers has decreased by 4% over the past four years, following a substantial development period between 2011 and 2018 (a rise of 87%).
The survey indicated that the number of worldwide c-suite positions with a particular emphasis on growth, such as Chief Revenue Officers and Chief Growth Officers, has grown significantly (256% and 554%, respectively).
This may leave a gap in the C-suite where innovative solutions can be promoted, a talent gap where creative skills are required to turn ideas into results, and a cultural gap in the organization where innovative thinking can penetrate. In other words, the creativity gap is growing, according to experts.
To shed light on how the CMO role has changed over the last ten years, Deloitte Digital analyzed worldwide corporate profiles and job advertisements. To reach these conclusions, Deloitte Digital and LIONS examined 26 pieces of work submitted to the Creative Business Transformation Lions at Cannes Lions 2020/21, eight in-depth interviews with the brand-agency teams that were shortlisted and won Lions, and four interviews with members of the Creative Business Transformation Lions jury.
The highest-ranking job on the creative team in the majority of international brands is the chief creative officer (CCO). CCOs are typically in charge of the entire look and feel of the organization’s branding, media, and marketing.
There are internal creative teams at large Indian conglomerates like Reliance Industries, Adani Group, TCS, Piramal Group, ITC Group, BYJU’s, Dunzo, Swiggy, Paperboat, and BookMyShow, led by a chief creative officer or creative director. Industry insiders said that many firms continue to use advertising agencies for their creative requirements.
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