Innovation Is A Priority, But Obstacles Remain: Study

More than 100 senior marketers surveyed cited three main factors standing in their way.

Nearly two-thirds of marketing leaders rated innovation as “very critical” to their company’s success, a 15% decline from 2015, according to the fourth annual “CMO Innovation Trends” study. Participants—103 senior marketers across myriad industries—cited three causes: the excessive time spent on day-to-day operations and firefighting, lack of internal alignment, and funding shortages.

What can CMOs do to reverse this trend? EnergizeGrowth founder and adviser Lisa Nirell recommends a temporary step away from data-driven conversations and a return to persuasion and storytelling fundamentals. Her latest report also offers a variety of low-cost options to fuel innovation experiments.

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Read related article: “CLIC 2016: CMOs Lead Innovation From ‘Now’ To ‘Next’”