Survey, carried out by the company’s Insights division, combines attitudinal and performance data
Kantar announced the launch of the “Marketing Trends 2024” report, which brings together the main marketing trends for the next year.
The survey, carried out by the company’s Insights division, combines attitudinal and performance data and aims to help professionals in the area maximize their growth strategies.
“A culture of continuous learning and data-based decision making is essential for the market to navigate the technological and cultural transformation we are experiencing. Marketing Trends 2024 presents in a practical guide the necessary tools and knowledge that marketers need to lead this change”, said Maura Coracini, director of Media&Digital Insights at Kantar.
The first trend highlighted by Kantar is the use of artificial intelligence in the creative process and, according to the company, 67% of marketing professionals feel positive about the possibilities of generative AI.
Next are cultural values since consumers are increasingly demanding in relation to brands. The study found that 80% of global consumers said they were willing to make an effort to buy from companies that support causes that are relevant to them.
Furthermore, Kantar also pointed out that next year should favor companies that take a stance on social and environmental issues and that are consistent with their brand DNA. According to the company, being authentic and taking sides on important issues for society will ensure a path to building emotional connection with consumers.
The importance of attention metrics for measuring media effectiveness and creativity was also highlighted as one of the trends for the coming months and the Kantar report showed that 62% of marketing professionals still prefer to work with behavioral metrics, such as viewing time.
Another trend highlighted is what has been called the “shift to holistic measures of success.” According to the survey, 42% of companies are incorporating sustainability metrics into their KPIs, compared to 26% in 2021, and this trend demonstrates a transformation in the market towards a greater balance between profit, planet and people.
The study also found that brands perceived as innovative by consumers achieve three times more growth than those that are not. However, post-pandemic innovation levels are lower and, therefore, the company is betting that acting on this front will be an essential agenda for every company that wants to find a path to growth in 2024.
Also according to the analysis, the FMCG/CPG (fast-moving consumer goods, also known as consumer packaged goods) industry has seen brands driving disproportionate growth as they seek to confront consumer concepts, ideas, needs and occasions.
According to Kantar, one in two global buyers has preferred to consume from smaller brands and next year’s movement will indicate whether this practice continues to be successful. To keep pace, the company pointed out that big brands will need to work on agility, speed to market, consumer centricity and data-based decision making.
Another path suggested by Kantar is “premiumization”. With inflation hitting consumers’ pockets and private label products gaining share, companies are resorting to factors such as price promotions, reductions and discounts to maintain market share. For the enterprise, marketers will lean on price management to ensure that price and value align.
According to the report, research is going through a period of change with the popularization of AI and large language models. A reflection of this is the fact that online search engines have consolidated themselves as the fifth strongest point of contact in terms of building brand impact. Now, according to the company, it will be time to review digital strategies and content to ensure visibility where consumers are.
Finally, the last trend mentioned is about retail and advertising. Amid changes in consumer behaviors, retail media appears as an essential channel for engaging audiences and data from Kantar showed that 60% of marketers in Latin America declared that they will invest more in retail media in the next year.
Looking ahead to 2024, the study found that buyers and sellers will need independent measurements to prove channel performance and create better advertising experiences.
