The Nordic CMO Survey 2024

As a CMO, it gives you access to what assumptions and adaptations others in the same role have made and are planning to make. Challenge yourself; we hope the CMO Survey 2024 will inspire you to develop marketing for your organisation. 

Synlighet works closely with marketers from more than 200 Nordic companies. We can feel their pulse and see the companies, industries and markets from the inside. In collaboration with Kampanje, Resumé and Dansk Markedsføring, we have taken a systematic approach to describing what is happening in the Nordic market.

• There is an increase in CMOs who are optimistic about the national economy in 2024 compared to 2023. Swedish CMOs in particular are significantly more optimistic than last year.

• In 2024, fewer CMOs are concerned about recession, decreased spending and changes in consumer behavior than in 2023. B2C companies are more concerned than B2B companies. More CMOs express concern about new competitors.

• There is a significant increase in the number of companies that have defined and quantified their marketing goals - from 35% in 2023 to 41% in 2024.

• Fewer CMOs plan to hire - 40% say they have no plans to hire in the marketing department in the coming year. This is a notable increase from last year.

• The use of AI has increased a lot - from 48% in 2023 to a whopping 82% in 2024. There is an increase in all countries, but Norway has the largest increase from 42% in 2023 to 80% in 2024. Almost 9 out of 10 believe that AI will become important for text production.

• Companies that have adopted AI are growing to a greater extent than those that have not adopted AI, and they plan to employ people in the coming year.
  
• 70% of CMOs believe agencies should be paid for the work put into proposals to win a tender. Only 56% of Norwegians are positive about paying, a significantly lower figure compared to Denmark (85%) and Sweden (86%).
  
• The majority of CMOs from all three countries prefer to invest between 10% and 25% of their marketing budget in agency services. Denmark has the highest proportion who think it makes sense to invest below 9% (34%), compared to Norway (19%) and Sweden (24%).
  
• The Norwegian CMOs are the least important. They have considerably less responsibilities, and only 60% of them are part of the company's management team.
  
• As many as 70% of companies that are successful to a great extent use AI daily to do marketing activities. This compared to 62% of companies that are successful to a lesser/some extent.
  
• In 2024, there are several areas of investment that separate companies that succeed to a great extent from those that succeed to some/lesser extent. Those who succeed to a great extent still invest in insight and analysis and have increased their investment in branding. What is new in 2024 is that they have also invested to a greater extent in new and better technology, increased competency among their employees and created new creative concepts and campaigns.
  
• Companies that succeed have a clear identity and profile that informs all the work done in communications. They also invest more in marketing when the company experiences a downturn.

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