Trends Forecast for 2024
Unveil the potential of your brand with This Brand Works Top Marketing Trends for 2024.
1. The Rise of the B2B Influencer
According to a report by Ogilvy, 75% of B2B marketers are currently using Influencer marketing, with 93% of them planning to increase their B2B influencer activities in the future.
Partnerships with influencers like Marketing Max are becoming integral for brands, facilitating trust, credibility, and connections within the business community.
What’s more, marketers who rate their B2B influencer activity as very effective are more likely to outsource, use AI, and keep the program going continually, according to recent research from TopRank Marketing and Ascend2. The report was based on data from 425 marketing decision-makers at B2B brands in 2023
Key Take Away
Investing in influencer marketing is a great way to build trust and credibility amongst B2B decision-makers. Always-on campaigns, backed by AI-driven data and managed by a marketing agency are the most effective.
2. B2B Shift to Brand Spend
Image credit: Marketing Manager Mindset Report 2023 from Livestorm, mention, and Jotform
As B2B marketing matures, there's a noticeable shift towards investing in brand spend. Beyond product-centric campaigns, businesses are recognising the lasting value of brand-focused activity.
This shift underscores a strategic move to connect emotionally with B2B audiences, fostering loyalty and trust. In 2024, focus on brand spend isn't a luxury; it's a strategic priority.
Simple ways to ensure you build your brand awareness include:-
Create a brand playbook that everyone understands and uses within the business
Use a brand tool kit to ensure all your communications are consistent
Create useful content, and post consistently
Key Take Away
80% of B2B deals are won by brands known by the decision makers. Focusing on brand-building activities will help attract and convert more sales.
3. Company Culture
Culture is the secret sauce that makes a business unique, vibrant and more profitable. Research from FTSE Russell, states that companies that make the ‘100 Best Companies to Work For’ list outperform the market by a factor of 3.36. Emphasising that a thriving company culture is an essential ingredient for success.
In the evolving landscape of work, where flexible working has become the norm, focus on company culture has become critical. It's about fostering a sense of community and shared values that transcend physical boundaries. It's the key to unlocking employee potential, driving innovation, and ensuring long-term success.
Key Take Away
Ensure your company values are unique, aligned with your brand, and routinely taught and rewarded to foster a strong culture.
4. AI and Big Data - The Future Decision Making
2023 witnessed a surge in AI adoption, and 2024 is expected to see growth in AI tools and understanding how to use them for interpreting big data to extract valuable insights and make predictions.
According to industry experts and market analysts, AI will play a pivotal role in decision-making for optimal media mix, return on investment, and new market launches.
Predictions suggest an increasing number of businesses will experiment with AI for strategic decision-making, putting pressure on marketers and media agencies to adapt.
Key Take Away
Leaning into AI tools can significantly enhance marketing spend efficiency by providing data-driven insights, automating tasks, and optimizing campaigns.
5. Immersive Real Life Experiences
In an era dominated by virtual interactions, the allure of real-life events is making a robust comeback. From Immersive theatre and limited retail releases to the emerging trends of ‘blesiure travel’ (mixing business and leisure) and business retreats, brands are recognising the power of face-to-face connections to drive meaningful engagement.
In 2024, the tangible moments offered by real-life engagement will be pivotal, fostering genuine, meaningful connections in an increasingly digital world.
Key Take Away
Use in-person events strategically during 2024. Think fewer, bigger, and better to leave your audience with long-lasting memories.
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