Trends and Technology

The promise of AI is tempered by growing concerns regarding the risks the technology presents, leading the Biden administration to pressure the seven leading AI companies to commit to new standards for safety, security, and trust as they aggressively compete to dominate the space. Brands and agencies are diving in.

Marketers continue to be overwhelmed by the amount of data they collect. A big part of the problem is that companies tend to acquire technology without thinking about the specific marketing goals and objectives for which the resulting data will be used. To tame the tech stack, CMOs and their teams need to do a better job of planning and figure out what the end game for the data is well before executing.

Most people will be watching their wallets during the 2023 holidays, with more than half of consumers (53 percent) saying inflation will have a moderate or significant impact on their spending. To ensure that they are buying wisely, consumers are demanding more from brands and retailers. They want flexible return policies, discounts, loyalty programs, and the capability to buy online and pick up in-store.

Two-thirds of companies viewed retail media as a sales driver, but only 12 percent used it to build their brand, according to a new survey. Only 31 percent said it was a valuable marketing tool right now. The lack of consistent and industrywide measurement on the effectiveness of retail media investments is one reason brands remain cool to the market.

Marketing to Hispanic consumers requires that brands heavily research the distinctive factors that matter most to them. Influencers can help brands connect with the various communities, as well as cultural elements like music and humor, but it's important to consult market experts to ensure the campaign is effective.

The idea that brand work is difficult to measure or quantify doesn't hold up, according to Charlotte Blank, U.S. CMO at Jaguar Land Rover North America. She stresses that marketers need to cultivate KPIs for brand health metrics in the upper funnel, which are just as important as the conversion-oriented metrics that drive performance marketing discussions.

While the backlash to brands aligning their messaging and merchandise with Pride Month has quelled, marketers continue to weigh the risks of taking a stand on hot-button issues. It seems an increasingly difficult needle to thread for marketers, who must grapple with a polarized society and the spread of misinformation on social media. Before they take a stand, brands need to take the temperature of both the mainstream and potential opposition and be prepared to stick to their messaging.

Location-based production has largely returned post-pandemic, but new challenges have emerged — including higher costs — alongside new opportunities like tax-incentive programs and promising new technologies.

Not all in-house agencies will stop working with external agencies altogether. But a recent ANA study shows that in-house agencies continue to increase their clout and companies are working with fewer external agencies as a result. In fact, the study predicts that 85 to 90 percent of member companies will ultimately have in-house agencies handling some aspect of their marketing activities.

Battle lines are being drawn stemming from a flurry of legislation at the federal and state levels designed to limit the use of social media among teens and children. Dozens of prominent advocacy groups have voiced opposition, saying the bills would limit free speech and allow state attorneys general to decide what constitutes “harmful” content.

For harried parents, making back-to-school shopping less of a hassle is a major priority this year. Retailers are responding in kind by moving up the launch date for their back-to-school promotional campaigns and touting convenience in their ad messaging.

Streaming programming is fast evolving and recently surpassed cable for the first time in the percentage of TV viewers. Media companies are responding in kind. Lydia Daly, SVP of audience impact and intelligence at Paramount, says the explosion of streaming services is changing the way people consume entertainment and constantly raising expectations that marketers must meet head-on.

As difficult as it may be when it comes to aligning marketing with financial outcomes, there is a path for CMOs and CFOs to have a more productive relationship.

Many brands strive to rise above the clutter. However, it may be a tougher hill to climb for marketers working at brands with well-established histories. Here's how brands such as A&W Restaurants, EY, Pepsi, and Ringling Bros. and Barnum & Bailey use their legacies to drive innovation and change.

With a growing onus on marketers to break from the mold, brand managers should consider innovative ways to connect with consumers virtually, as AI-dentity and virtual personas continue to rise. Patricia McDonald, chief strategy officer at Dentsu Creative, says consumers are increasingly creating avatars to portray what is in some cases a more authentic, adventurous version of themselves.

Programmatic displays are a sign of how out-of-home (OOH) advertising is evolving into a digital format comparable to other online media. As consumers venture back into public spaces and life seems to be returning to normal despite the lingering COVID-19 pandemic, marketers are ramping up their spending to advertise via OOH venues ranging from movie theaters to grocery stores.

As the ultimate destination to drive sales and fuel engagement, branded websites need to be regularly updated and/or redesigned to satisfy consumer expectations. But many websites leave a lot to be desired, with 60 percent of people saying they abandon purchases due to poor user experience (UX) on websites, according to a recent study.

As people gear up for the summer and look for outdoor activities, marketers need to find ways to turn in-person encounters into enduring relationships, both online and off. Brand managers need not access their playbook from summer 2019, as consumer expectations and behaviors have changed dramatically in the past three years.

The market for nonalcoholic drinks is going like gangbusters, with 70-plus products introduced between 2021 and 2022 alone. The growth comes as more people focus on health and wellness in the wake of the pandemic. But as they ramp up production, marketers face myriad challenges promoting a product category with which many consumers have little familiarity.

As the marketing industry continues its digitalization, universities and colleges offer pools of talent steeped in digital communication that show little interest in marketing. What can brands do to avoid being the odd man out on campus?