A Year of Complexity Ahead, but a Year that Will Demonstrate the Essentiality of Marketing’s Role in Both Business and Society. Yes, TODAY’S MARKETERS face a long list of urgent priorities… However, 2024 is shaping up to be a very different year. Marketing leaders are now tasked with expanded responsibilities of extraordinary complexity and greater accountability— from external concerns to internal aspirations, from accelerating technological developments to shifting consumer mindsets. And while many marketers admittedly feel a sense of overwhelm at the pace of change and the need to become expert on so many new subjects, smart marketing executives are now recognizing their time has come.
Is Marketing’s Role in Society Equally Important as its Role in Business?
Once upon a time, brands and politics didn’t mix… or at least some topics were considered taboo by most organizations. The rise of social media, the constant expression of personal opinions, the speed at which misinformation flows, corporate interest in customer values, and even commitments to purpose, have changed how many brands communicate in a post-COVID world. Yet, when complex geopolitical issues intensify and combine with entrenched and often fiery viewpoints, it can become challenging for many products, services, or companies to serve the best interests of all their stakeholders.
Are we now facing a time that dramatically changes marketing’s role in both business and society? According to The Internationalist‘s recent Insights Survey, 68% of respondents agreed that Yes– Marketing is at an Inflection Point. One savvy respondent offered a comment that sets the tone for many CMOs: “Yes, we are at an inflection point, but marketing has two directional shifts to […]
IN A MARKETING WORLD where expressing brand purpose is now de riguer, The Internationalist asked its global audience if it is possible to balance purpose and profits amid economic uncertainty. In many ways, the survey answers were surprising. While respondents clearly had a strong understanding of the fundamentals of purpose-driven marketing, they were increasingly skeptical of not only “purpose washing,” […]
Marketers Shift Priorities to the Immediate and the Practical
TODAY’S MARKETERS face a long list of urgent priorities. However, this year, the order of those priorities is changing. And while the word of the moment at Davos was arguably “resilience” or more specifically “a CEO’s preparedness to build resilience and navigate the impending turbulence to create economic growth,” 83% of CMOs cite ECONOMIC CONSIDERATIONS as their leading current concern— particularly relating to new messaging and adjusted budgets. Whether or not we use the “r” word— that’s recession rather than resilience— marketers, as well as investors, understand that the global layoffs of thousands at social media platforms and AdTech firms are largely due to drops in advertising revenue (along with earlier over-hiring).
The world has undeniably changed since COVID-19, as have ways of working. The client-agency relationship has long been at the center of advertising and marketing. While the pandemic caused extraordinary examples of urgent, purpose-driven, remote teamwork, there are now new expectations of these important relationships that are shaping both corporate decision-making and individual priorities.