Marketing Report
Only 44 per cent of marketers feel ready to embrace the new radical future, report news

Only 44 per cent of marketers feel ready to embrace the new radical future, report

A new global study of over 400+ marketing leaders in media and marketing by strategic advisory firm MediaLink has been unveiled. “The Marketer’s Forecast 2024 (TMF24)” explores the forces shaking up the business world and aims to inform marketing leaders’ outlook.

TMF24 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: “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 abbout and advise our clients on the critical transformations required to succeed.”

Margaret Jobling, Group Chief Marketing Officer, NatWest Group: “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, Pfizer: “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.”

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.

The report can be accessed here