NEW YORK--(BUSINESS WIRE)--A new global study of 400+ marketing leaders in media and marketing will be unveiled today from strategic advisory firm MediaLink. “The Marketer’s Forecast 2024 (TMF24)” explores the forces shaking up the business world and aims to inform marketing leaders’ outlook.
TMF24, which will be revealed today on stage during UTA’s “Entertainment Everywhere: Navigating New Opportunities in Culture” programming block at Advertising Week NY, informs how marketing leaders can set their sails, catch the wind, and spark transformational growth with a focus on five critical topics:
Owning the Growth Agenda
As the pressure mounts for CMOs to connect the dots between their investments, sales, revenue, and profits, 91% of respondents say CMOs have a meaningful impact on the pipeline of future revenue. Marketing leaders are demonstrating how real-time consumer data and marketing insights lead to needed changes across their organization.
ESG as an Investment
Achieving ESG targets doesn’t happen in one great leap. With only 18% of respondents citing diversity, equity, and inclusion (DEI) and environmental sustainability as a top priority, we can see a shift happening. Marketing leaders must continue demonstrating how these investments positively impact business outcomes to keep momentum.
The Promise of Partnership
Partnerships between agencies and brands need to be reimagined, and one size doesn’t fit all. 36% of respondents say they foresee creating more flexible arrangements with partners. And 30% want to add specialist agencies into their ecosystem. Refining their organizational models will be essential for marketing leaders looking to right-size for growth.
A Technological Tipping Point
Marketing leaders are at the heart of many audacious questions that AI poses, with a focus on productivity, consumer experience, and growth. 84% of respondents have used AI in some capacity, but they grapple with the upcoming regulatory and policy impact, and many still need to figure out a roadmap to make the most of the technology.
The New Pioneers
From wanting to expand their brand beyond their sector of origin (nearly 70%), to betting on non-traditional consumer interactions with creators (52%), and trailblazing new channels such as retail media (24%), the marketing leaders who dare to create revenue-driving change will enable their companies to stand stronger.
Michael Kassan, CEO, MediaLink, said: “The headwinds at play are among the strongest we’ve seen, but the data reveals marketing leaders are a rare breed of innovators, problem solvers, and creators.
I hope our Marketer’s Forecast will guide industry leaders looking to navigate what’s ahead for 2024. It certainly informs the way we, at MediaLink, think about and advise our clients on the critical transformations required to succeed.”
Commenting on the findings of TMF24, Margaret Jobling, Group Chief Marketing Officer at NatWest Group, said: “The dynamics and opportunities we are experiencing put marketing more front and center. How do you understand customers, do more personalizing, leverage technology to do content creation, insight mining, and proposition development? All of that says there's a role for marketing.”
Drew Panayiotou, Global Chief Marketing Officer at Pfizer, added: “When you look at CMOs and what they actually do, the ones that are really successful have found a way to drive innovation and growth.”
Tariq H. Hassan, SVP, Chief Marketing & CXO at McDonald’s USA, said: “We [as CMOs] need to continue prioritizing responsible marketing and be able to demonstrate that what we are doing is both linked to doing good in the world and driving good business outcomes.”
And Kellyn Smith Kenny, Chief Marketing & Growth Officer at AT&T, concluded: “If you’re using the same marketing tools today that you’ve been using for the last five years, you’re not taking advantage of all the ways you can connect with your customers. It isn’t really a decision to embrace change or not—it’s a decision to stay relevant or be left behind.”
The Marketer’s Forecast 2024 is based on a quantitative study conducted by UTA IQ with Qualtrics and using proprietary UTA and MediaLink contacts and CINT panels between July and August 2023. It comprised over 400 surveys among senior and executive marketing leaders in North America, Europe, and Asia.
Additional UTA session speakers at Advertising Week NY include Issa Rae, Jonathan Van Ness, Aurora James, Tyrese Maxey, and executives from brands like New Balance, Lyft, Ancestry.com, and more.
Notes to editors
Landing page to download the complete report: HERE
METHODOLOGY
The quantitative study was conducted by UTA IQ with Qualtrics and used proprietary UTA and MediaLink contacts and CINT panels between July and August 2023. It comprised over 400 surveys among senior and executive marketing leaders in North America, Europe, and Asia. Any statistically significant differences use a confidence level of 95%. In addition, MediaLink continuously monitors the marketing industry and conducts research in partnership with clients looking to understand marketing, media, and technology trends affecting the business world.
About MediaLink
MediaLink is the media and marketing industry's most trusted and connected strategic advisory firm, specializing in identifying areas of opportunity, optimization, and ultimately growth for its clients. The firm provides counsel for navigating change in the core areas of marketing transformation, data and technology solutions, growth strategy, private equity advisory, talent advisory and executive search, and entertainment, sports and culture marketing. Founded in 2003 by Michael E. Kassan, MediaLink employs 200 professionals in New York, Los Angeles, Chicago and London. MediaLink is a UTA company. www.medialink.com
