The changing face of the marketing industry means businesses and experts are going to need to fundamentally change their approach to their role, according to the Marketing 2020 report.
But are enough organisations prepared for the challenges of the coming decade? According to Marketing Week, which is publicising the study in the UK, more needs to be done to up-skill practitioners if companies are going to stay ahead of the curve.
According to the research, while 70 per cent of marketers rate their skills as very good or excellent for the current market, that drops to 56 per cent when they consider the situation as it will be in five years’ time.
This shows a good awareness of the potential issues; however, a more worrying statistic is that 37 per cent of UK marketers receive no formal training, compared to 33 per cent on a global basis.
Teresa Octavio, managing partner at consultancy EffectiveBrands, which led the study, suggested that business structures have not responded well to the changing landscape and remained relatively static over the last few years.
"The challenge for brands is how to ready their marketing organisation to drive growth in a rapidly changing environment," she added.
One tip for firms looking to prepare themselves for the future is to get closer to other parts of their organisation, particularly HR and IT departments.
Doing this can allow them to play a more strategic role in the direction of their company while ensuring brand values are played out in a holistic way, with each part of a business singing from the same hymn sheet.
Nigel Pocklington, chief marketing officer at hotel booking service Hotels, stressed that any rebranding should be done in tandem with all parts of a company.
"Marketing is a vital integrative function. A strong marketing team should connect everything a business does with its consumers," the expert declared.
With the industry expecting major changes over the coming years, it is obvious flexible firms will out-perform those still stuck in the past.