More Intelligent and Creative, Despite Uncertainty
instability and uncertainty rule the world
As most of the world emerges from the COVID cocoon, the biggest economies avoided recession in 2023 but remain sluggish going into this year. The World Bank projects global economic growth between 2.4 and 2.7% (2024-25), with the U.S. maintaining at 3% growth and China expected to slow to 4.5% — close to what it was in 1990. To exacerbate this downturn, economic policies have further restricted global trade more generally, bringing it “nearly to a halt” in 2023 at .2%. Climate changes, regional wars, staggering inflation and stuttering supply chains deepen economic vulnerability and uncertainty worldwide. (Ref: Harvard Business Review, Dec 27, 2023; Brookings, Jan 17, 2024)
Yet, businesses continue to pivot and expand into global markets, whether near or far - and increasingly through eCommerce and virtually.
marketing’s higher calling: intelligence and creativity
Some trends from previous years continue to resonate, such as purpose-driven and sustainable marketing, but increased AI integration brings ethical marketing practices into greater focus. This is true not only in messaging, but also methodology — from how content is created and delivered to how consumers are “captured” and engaged matter now more than ever. That said, chatbots, AI-generated content and images will be widely utilized. Sustainability practices, both in messaging and materials, continues to be highlighted due to increasing consumer demands, but brands must be careful of a “greenwashing” backlash that looks to be gaining momentum. Additionally, short-form video and audio content is a significant driver of brand and consumer engagement, as well as ROI. Beyond just influencer marketing, authentic partnerships with content creators (user-generated content) will create meaningful business growth. And, most importantly, content that is personal and customized to target audiences will be most effective in brand awareness, engagement and sales. And, all of these trends are underscored increasingly by the desire for (and in some cases, mandated by) consumer privacy. (Ref: HubSpot State of Marketing 2024; Forbes, Oct 30, 2023; Euromonitor 2024 Consumer Trends)
The opportunity now is not only to sell “stuff,” but to meet the real needs of individuals and businesses more holistically and effectively.