In the ever-evolving world of marketing, 2024 is poised to bring significant changes and challenges. Five prominent marketing experts have offered their insights into what lies ahead in the coming year. Sustainability and Artificial Intelligence (AI) emerge as prominent themes in their predictions, shaping the landscape for marketers worldwide.
AI mass adoption: A game-changer in marketing
Justin Osofsky, Head of Online Sales, Operations, and Partnerships at Meta, believes that 2024 will be the year when AI achieves mass adoption in the marketing industry. He highlights the use of generative AI in creating creative content swiftly and effectively. According to Osofsky, the previous year saw marketers increasingly relying on AI tools like Advantage+ shopping to enhance sales conversions. The result has been a shift towards a more AI-driven approach to marketing, with 2024 expected to witness an even greater emphasis on training generative AI tools to produce ad creatives aligned with each brand’s unique voice and style.
Creative velocity and the importance of curation
Goksu Nebol-Perlman, VP of Business Product Marketing at Meta, emphasizes the significance of creative velocity and the role it will play in 2024. Nebol-Perlman suggests that, given the projected modest consumer spending in the holiday season, agencies and advertisers will accelerate their investment in creative velocity. This strategy aims to maintain strong performance by continuously iterating ad creatives based on customer insights. A recent study by Meta indicated that creative diversification can lead to a 32% improvement in CPA and a 9% increase in incremental reach. As generative AI produces content at an unprecedented pace, marketers will need to adopt an editorial mindset to curate and refine this content effectively.
Sustainability and value alignment: A key marketing focus
Claudia Calori, Vice President and Head of Global Marketing at Philips Personal Health, predicts a growing emphasis on sustainability and value alignment in marketing efforts. She notes that consumers increasingly seek sustainable solutions while also expecting brands to contribute positively to their financial well-being. Calori anticipates that brands in 2024 will focus on offering “hacks” that are both environmentally friendly and financially beneficial to consumers. This shift is exemplified by Philips’s “Better Than New” campaign, which promotes refurbished products. Additionally, Calori emphasizes the importance of authentic inclusion and representation in marketing as brands recognize the need to reflect the diversity of their audiences in an authentic manner.
Sustainability as a central Tenet of marketing
Lynn Lucas, CMO of Pure Storage, underscores the growing importance of sustainability as a central tenet of successful marketing strategies. Lucas believes that companies will need to align with their customers’ sustainability goals and navigate increasing regulatory pressures. In 2024, transparency regarding environmental impact is expected to become a key feature of marketing campaigns. A recent study found that 99% of IT buyers are under pressure to engage with providers committed to sustainability. Consequently, sustainability messaging is likely to become a prevalent theme in marketing efforts, with consumers becoming more discerning about “greenwashing” practices.
GenAI integration: Shaping the future of marketing
Gaurav Chand, CMO of Cognizant, highlights the integration of GenAI into daily marketing operations as a significant trend in 2024. GenAI, which combines machine intelligence with human intuition, is expected to optimize creative workflows and improve customer engagement. This shift may free up marketing professionals to focus on higher-level strategic work, emphasizing problem-finding skills over problem-solving abilities. A new talent showdown in the marketing sector is anticipated, with cognitive diversity becoming a highly sought-after skill. Chand also emphasizes the importance of fostering a culture of continuous learning in the workplace to keep pace with evolving technology. In this context, soft leadership skills like empathy will play a pivotal role in supporting employees as they adapt to new skills and roles.
As the marketing landscape evolves, sustainability and AI are set to be the driving forces of change in 2024. Marketers will increasingly rely on generative AI for content creation, prioritize sustainability in their campaigns, and navigate the integration of GenAI into their strategies. In this dynamic environment, the ability to curate content effectively, align with customer values, and embrace technological advancements will be essential for success. Marketing leaders must adapt to these shifts and foster a culture of continuous learning to remain at the forefront of their industry in the coming year.
