Marketing Predictions for 2024 - A Roundup

More big changes are coming in marketing. We reviewed marketing predictions for 2024 from 15 leading companies, which provide bold insights on what to expect this year. Note: this post was written by humans. AI created the image above with typos we kept for some amusement.

Here are the big themes that jumped out, followed by links to each company’s write-up (and a snapshot of their key points).

Humans matter…and marketers need to keep it real

Google’s predictions points to a world where AI augments (and doesn’t replace) human creativity and efficiency in marketing. There will be an evolution from AI being a buzzword to becoming an essential tool in personalizing customer experiences. That said, Google emphasizes the importance of human authenticity and genuine engagement. It will be very important to keep it real in a world filled with AI.

There will be more low-value, generic content, driven by AI

This means that smart B2B companies will have opportunities to break through in marketing and sales with the right thought leadership, data-driven insights and authentic best practices shared directly by customers. (Particularly when their competitors have mediocre content). To help companies seize the opportunity, we’re launching a new tool to easily capture customer stories, with video and AI insights.

More streamlining and consolidation of marketing tech  

G2 highlights how, in a cluttered mar-tech world, marketers are moving towards integrated tools instead of juggling multiple ones. There will be continued M&A as the industry consolidates. Relationships will be the new currency in sales of mar-tech, like most industries.

The cookieless world and data privacy

We all knew it was coming but there are still big implications for digital advertising and data privacy strategies. They stress the importance of navigating the change thoughtfully, balancing the need for customer data with increasing demands for privacy and consent.

Sustainability as a core business value

C-Suite Network’s insights underscore that sustainability is transitioning from a ‘nice-to-have’ to a ‘must-have’ in brand strategies. Ethical and environmentally responsible business practices are part of that mix. Brands who infuse true sustainability into their operations and messaging are likely to gain trust and loyalty from customers.

Omni-channel in retail

Movable Ink’s report covers the continuing removal of boundaries between online and offline retail experiences. In 2024 now more than ever, marketing strategies need to seamlessly integrate these channels, offering a cohesive customer experience. As they point out, this isn’t just a trend; it’s becoming a fundamental expectation.

Adapting to a quickly changing landscape

Forrester suggests that 2024 will be a year of major adaptation….although that seems to be the case every year. Their reports stress the need for marketers to be agile, be ready to pivot in response to a quickly changing landscape and advances in tech. I’ll add this prediction: many FORTUNE 500 companies, tired of being out innovated, will value entrepreneurship and agility much more this year.

A few other big themes across the many crystal balls:

  • More focus on (and deeper measurement of) attention and engagement and less focus on vanity metrics
  • Authenticity and trust. Mentioned above and worth repeating. They will be mega themes in 2024.
  • Automation and go-to-market (GTM) plays will sweep the marketing world, leaving traditional ABM tactics behind. Bain found that companies master GTM plays are nearly three times more likely to outpace their competitors.
  • More marketing leaders will own the customer experience, end-to-end

 

Here’s the List. Drumroll Please….

Snapshots of each company’s views are below. Click on the name of each company to see their predictions for 2024.

Google: Their thought leadership outlet, Think With Google, emphasizes transparency in use of data and the integration of AI in marketing. Marketers will need to quickly adapt to changing customer needs and economic situations, with a strong focus on earning customer trust through better privacy practices. At the same time, there’s going to be a big push towards using AI responsibly and ramping up sustainability efforts in marketing. Credits: Kristell Rivaille, Edina Bauer, Gerald Breatnach, Cova Soto and Eran Kantarli from Google.

Movable Ink: Key predictions: marketing will heavily rely on zero- and first-party data, with brands effectively using this data for personalized email campaigns etc. As privacy becomes a bigger concern, innovative strategies like loyalty programs will be key to build relationships and gather data. Marketers are expected to balance the use of AI with authenticity into their messaging and content. Mobile marketing will see increase in sophistication, and the right use of the mar-tech stack will be critical in using and activating data.

G2: Discusses how marketers are moving towards integrated tools instead of juggling multiple ones. With a preference for buying from fewer vendors, there’s a trend toward platforms offering a full suite of products tailored to specific marketing needs. Trust with providers is the new currency. Well put, Victoria Blackwell (the author).

Collective Measures: Their focus is on the importance for brands to prioritize empathy to maintain customer loyalty, as consumers are increasingly willing to switch brands due to economic pressures and a desire for value alignment. Using user-generated content (UGC) is an effective way to connect with customers, as it builds trust and demonstrates that brands are listening and responding.

MarTech: Focuses on the future of advertising and digital media, with a strong emphasis on the role of AI. In 2024, marketers are expected to lean into AI and new metrics to manage ad budgets efficiently, especially during the pricey political campaign season.

They’ll be focusing on attention metrics as a way to gauge customer engagement more meaningfully, looking beyond clicks and impressions to understand how users truly interact with content. Marketers are also planning to streamline the path their ads take to reach viewers, aiming to cut costs and increase the impact by working with trusted, quality ad delivery networks. Credit: Chris Wood

EdgeNext: Offers predictions on trends like AI-driven marketing, AR/VR for a lifelike consumer experience, voice search, sustainability and keeping videos short and sweet for bigger social media impact. Credit: Michele Chen

HubSpot: Not surprisingly, Hubspot has some predictions with big implications for marketers. Here’s a snapshot.

  • More marketing leaders will own the customer experience, end-to-end.
  • Look for generative AI to improve messaging performance.
  • In 2024, automation and go-to-market (GTM) plays will sweep the marketing world, leaving traditional ABM tactics behind. Bain & Co. found that companies who master GTM plays are nearly three times more likely to outpace their competitors.
  • As more marketers begin incorporating AI into their writing processes, we’ll see a rise in low-value, generic content across the internet. To stand out, create high-quality, human-led content. Related to this is a post I wrote about the importance of thought leadership and data-driven insights for B2B brands. Credit: Christina Mautz
 

Experian Marketing Services. Their view for 2024 covers the areas where marketers are buying more data to focus on digital activation. In particular, they cite these ones: Automotive, Demographics, Lifestyle and Interests, and Retail Shoppers: Purchase Based audiences.

Optimove: Highlights AI powered personalization, sustainability and Social Responsibility and the dominance of video content over other formats. They also cover “disappearing content” such as time-limited promotions and real-time engagement.  They also anticipate a shift from vanity metrics to profitability and sustainable growth, which has big implications for marketing priorities.   

Content Marketing Institute:  Their predictions are great read, with 67 provocative ones from leading thinkers. Some notable takeaways:

  • AI gets smaller (but more relevant)…for more specific use cases
  • BS-meters rise, search traffic sinks
  • Trust and relationships take center stage

Forrester: Their predictions include many different posts  from Mike Proulx and team. Forrester also has some good coverage on their podcast.

A few notable examples:

  • Nine in 10 US mainstream brands will mute comms around social justice and ESG
  • Experience with generative AI” will be written into 20% of new CMO job descriptions.
  • Half of CMOs will pursue mar-tech ecosystem integration over marketing cloud dreams.

Hootsuite: Another great read, with a sweeping 41 page report. One goodie to illustrate: Audiences will give too much
self-promotion a thumbs down. Another big theme is the need for marketers to choose quality over quantity in execution, with more targeted efforts that pay off. These points don’t do justice to their report, which is very comprehensive and full of juicy stats.

C-Suite Network: A quick read with the same themes as others: AI, personalization and sustainability.

Smart Insights: Their take includes original research on attitudes and practices with digital marketing and beyond. They didn’t go out on a limb with any bold predictions, and instead focus on maturity ratings for different aspects of marketing, frameworks etc. That said, there is a brief section on alternatives to Chat GPT for marketers. Credit: Dave Chafee

Adobe: Their 2024 Creative Trends report requires a download, and admittedly I didn’t get to it. But hey, since it’s Adobe I trust they’re delivering quality insights. 

Drop us a line if you see other reports that should be included in this post. Wish you a very successful 2024.

 

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