Do Marketers Expect to Face More Competition in 2024?
Do marketers think their companies will face more competition in 2024 compared with 2023? To find out, researchers conducted a survey of 507 marketing professionals in the United States.
A recession is looming, and many marketers may reach for a familiar playbook: cutting advertising budgets and laying off marketing staff. However, increasing advertising spend or launching a new product during a recession can boost margins and drive revenue, allowing a firm to increase its profile as competitors decrease communication. Data suggests that decreases in advertising during a recession are not associated with any increase in profits, and organizations should be shrewd about which products they back during a recession.
Marketing leaders who want to boost spend during a recession can use data to make the case for boosting spend. Budgets are always tight in marketing, so be precise in communication with customers, embrace a mix of brand storytelling and performance channels, and capitalize on cheaper costs and a less crowded environment. Organic tactics such as SEO and content marketing make strong recession investments, as they take 12-18 months to build audiences and drive returns.
Show up for your customers. When the time is right, they will show up for you. Make data-driven decisions and play the long game to come out of the recession strong. Understand your audiences and meet them where they are, and use the recession as an opportunity to test channels in high demand.
Four Steps Marketers Can Take to Drive Growth During a Recession
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Do marketers think their companies will face more competition in 2024 compared with 2023? To find out, researchers conducted a survey of 507 marketing professionals in the United States.
What makes top B2B marketers successful? Recent research unveils what differentiates top performers. Dive deeper.
Another year in martech has passed at a blistering pace—with the discussion on new trends, technologies, and issues consuming our days. The author builds on his (mostly borne out) 2023 predictions about three martech trends.
The next few years will bring fundamental shifts to marketing. First things first, though: Prepare for what's to come in 2024 before looking further out into the future. Here's where 2024's most successful marketers and media agencies will direct their focus this year.
The bad news is that marketing isn't going to get any easier in 2024. The good news is that your marketing output is sure to improve if you use these three predictions to work both smarter and harder in the new year. See what's ahead...
For marketers, belt-tightening is back for 2024. Balancing brand and demand investments, however, doesn't have to hurt. In fact, taking these six steps can increase impact, build resilience, and pave the way for long-term growth. Do more with less.