AI goes rogue
If you’re not dropping AI, generative AI, and any other machine learning or artificial intelligence words and acronyms into your marketing conversations, then you ain’t the real deal.
LOL.
Well, expect the AI service explosion to continue to gather pace in 2024.
And then, I predict in 2025, it will be the year to realise that it’s not what it’s all cracked up to be.
People will still need to work. Brands will still need to be differentiated &/or be distinctive. And customer experiences will still need to be exceptional to create real emotional connection (where appropriate).
Whilst AI may allow data analysis and creative targeting at scale, it will be more important to focus on creating your customer’s future for AI to then interpret, and leave your competitors in your wake.
Don’t fall for the race to the same same middle. Where beige cardigans rule the world travelling in self-driving autonomous Swedish vehicles.
Cue the marketing megaphone for customer value (CV)
You’ve probably heard me bang the drum on CV this year.
Mark my words. 2024 will be the year that more and more marketers turn to their customer data for deeper analysis.
Yes, first party data. Data that actually reveals what your customers look like and are doing will be invaluable.
Especially in Australia with further change around the privacy principles.
Martech will be rationalised. The data footprint must be scored and ranked. And best marketers will reset their focus around the metrics that drive profitable customer growth.
If you’re not analysing profit per customer, frequency of purchase, channel combinations, and tenure implications, then you’re wasting valuable budget.
Cue the spotlight on media spend
Being the largest A&P spend area, the blowtorch will be applied to media departments and their agencies.
Forget Tik Tok trendy terms like ‘Brandformance’. It’s all buzz. Common sense marketing will rise to the surface.
Paid media spend will be reallocated around human traffic, and look-a-like audiences, rather than pinpoint invasive behavioural advertising that is ultimately missing the mark and wasting budget.
Talk to the media agencies that combine brand, acquisition, and retention into their discussions.
Watch out
Watch out for Bitcoin as it rockets its way to dizzying new heights in 2024. The next halving is predicted around mid-April 2024.
And then later in the year, the US election will provide entertainment on steroids. Fake news, slander, aggression, and lack of humility. How low will it go if DJT stays out of jail and continues his fight for the White House?
I wonder what’s rattling your crystal ball at this time of the year?
Drop me a message here
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