The Chief Marketing Officer, or CMO, plays an important role in setting vision. Doing so requires a clear view of where the marketing landscape is now, and where it’s headed in the months and years to come. Right now, there are some significant shake-ups that should affect every digital marketing strategy. A few of these trends include:
- AI integration
- Cultural alignment
- Attention measurement
- Focus on sustainability
- Retail media networks
- Need for premiumization
Learn more about the trends and issues that might affect your marketing strategy in 2024 and beyond. Check out the latest post from Clarity Digital for more.
Top 10 Marketing Trends for CMOs in 2024
Chief Marketing Officers (CMOs) play an essential role in setting the direction for their organization’s branding and outreach efforts. It’s a visionary role that requires a clear view of the entire marketing landscape, including major shifts or changes. Of course, the marketing landscape is shifting all the time, which makes it incumbent upon CMOs to keep up with the latest trends.
Here at Clarity Digital, we take pride in keeping our finger on the pulse of this industry, and in passing along essential insight to the CMOs we work with. Here are a few of the upcoming marketing trends we think are most important heading into 2024.
Marketing Trends for 2024: What Every CMO Should Know
1) AI integration
It seems like every big tech trend of the last few years has had AI at its center. Marketing is no exception. The advent of generative AI has already revolutionized how marketing teams function, and we expect the role of AI to grow in the years to come. As it becomes more widely adopted, AI will bring more opportunities for scale, efficiency, and creativity in content development and personalization. And, AI tools will become increasingly standard-setting for how they help us measure and monitor the effectiveness of our content. Simply put, CMOs cannot afford to keep AI integration on the backburner.
2) Cultural Alignment
We also expect to see a growing expectation that marketers align their strategies with cultural trends and consumer values. More and more buyers expect the brands they support to have similar priorities when it comes to social action, whether that means environmental stewardship or racial justice causes. Marketing teams must be sensitive to the cultural implications of their branding and messaging, and CMOs will naturally set the tone.
3) Brand Control vs. Cancel Culture
As social media democratizes opinions, brands taking activist stances face major opportunities, but also the potential for significant backlash. Influencer marketing will continue to grow, but brands will need to navigate cultural sensitivities and potential controversies carefully, ensuring they don’t fall out of the good graces of their target audience members. Again, the CMO plays an essential leadership role, setting the tone for effective cultural alignment.
4) Attention and Emotion in Advertising
In marketing and advertising, the focus is shifting towards measuring the quality of consumer attention. We expect this shift to accelerate in the year to come. Techniques like facial coding and eye-tracking are gaining prominence, and AI-based attention predictions will play a more significant role in how ad spend is allocated.
5) Holistic Success Metrics
Another notable trend for CMOs: Brands are increasingly integrating sustainability metrics into their marketing strategies. There’s a shift towards sustainable innovation, inclusive communication, and strategic public relations to balance brand development with social and environmental impacts. This is closely related to our previous point about cultural alignment, as social and environmental factors loom large in consumer decision-making.
6) Innovation for Sustainable Growth
Radical innovation, particularly in sustainability, is becoming an essential part of competitive advantage and brand growth. Marketers recognize the need for innovation to stay ahead in their categories, with the Chief Marketing Officer leading the way.
7) Emergence of Challenger Brands
In the year to come, we expect to see a lot of disruption across different industries, with major players being dethroned or at the very least challenged by up-and-comers. Smaller, challenger brands are gaining traction against larger legacy brands in nearly every industry. They focus on niche markets, unique products, and sustainability innovations. For CMOs, this trend can either be a major obstacle or a potential opportunity.
8) Premiumization Strategies
In response to rising prices and changing consumer habits, more and more brands are adopting sophisticated price management strategies to address different market segments, focusing on premiumization to increase margins and market share. Offering different tiers or service levels is a great way to segment an existing consumer funnel, and it will require diligent collaboration between CMOs and sales leaders.
9) Evolution of Search Marketing
A technical point: AI and large language models are disrupting traditional search mechanisms. It’s increasingly important for marketing teams to analyze keyword intent and stay ahead of digital trends to optimize their customer journey strategies. In addition, brands should make sure that their organic and paid search marketing strategies (SEO and SEM) are integrated to help meet company goals. Once again, stalwart leadership from a CMO is imperative here, helping to prevent teams from working in silos.
10) Retail Media Networks
Retail media (that is, media that leverages first-party consumer data for advertising, as opposed to third-party cookies) is becoming essential. There’s a growing need for independent, third-party measurements to validate channel performance and advertising experiences, ensuring the right level of customization as well as the most meaningful metrics.
Is Your Digital Marketing Strategy Ready for 2024?
As you consider your marketing strategy, make sure you’re accounting for these shifts in the landscape.
Clarity Digital is well positioned to work with CMOs, marketing leaders, and in-house marketing teams to help them succeed. We offer a variety of services such as fractional CMO services, marketing strategies, and performance-based search and digital marketing to help you meet your goals. Let’s explore opportunities together; contact us at your convenience!
