Kantar concludes that retail media continues to grow and the majority of marketers will invest more in advertising on retailers’ online platforms in 2024. In addition, values are the top priority for consumers. 80 percent of consumers surveyed worldwide would say they consciously buy from a brand that they believe supports important causes. In the future, companies will therefore have to ensure that their brand is in line with the general understanding of values.
Artificial intelligence (AI) will continue to bring about profound changes in the marketing world in 2024. Both Kantar and Nexoya come to this conclusion. According to Kantar, 67 percent of marketing specialists rate the possibilities of generative AI as positive.
For Nexoya, this trend is the logical further development of what could already be observed in 2023. AI should therefore become a multiplier, especially in the area of performance marketing. Artificial intelligence is creating more and more and, above all, better text, image and video content. AI tools and generative AI will be more tailored to specific industries, brands and audiences. The goal is highly personalized and contextual content.
The importance of attention has now been widely discussed. When measuring impact, however, according to Kantar, 62 percent of advertisers still rely on banal behavioral metrics such as viewing time. There should be a shift here – attention is moving more into focus.
But sustainability metrics are also increasingly being included in the KPIs of marketing departments. Kantar says that 42 percent of companies now use such metrics as a guide. This shows a trend towards greater balance between profits, the environment and people: not as a compromise, but as a business strategy.
“A culture of continuous learning and data-driven decision making is essential for marketers to navigate the technological and cultural changes we are experiencing. Generative AI is not hype, but a transformative development that is already having a profound impact on our industry,” says Gonca Bubani, Global Thought Leader Media at Kantar, commenting on the trends for 2024.
With regard to performance marketing, according to Nexoya, a cross-platform approach will also be an important trend in 2024. Cross-platform integration for a uniform brand experience for the customer and a holistic analysis by marketing experts is crucial here. This is the only way performance marketers can quickly identify trends and react to them. Marco Hochstrasser, co-founder and CEO of Nexoya, explains: “Specifically, the development is moving completely away from static budget planning towards a dynamic, data-driven always-on approach. With so many channels, marketing teams can no longer manually evaluate which channel is most important. Instead, the budget is increasingly being used intelligently and in the right place – across all regions, channels and campaigns.”
Takeaways
2023-12-13 08:33:53
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