NEW MARKETING FRONTIER
A BLEND OF TECH AND AUTHENTICITY
Marketers are poised to navigate a landscape marked by the merging of innovative technology and enhanced consumer experiences.
This report presents seven pivotal predictions, backed by survey results, from the improvement of vendor partnerships to artificial intelligence (AI) demand for deeper connections, highlighting a future where personalized value and authenticity carry the utmost significance. As brands agilely adapt to emerging trends, the challenge is balancing the hype with meaningful engagement, ensuring it leads to opportunities rather than oversights in a rapidly evolving marketplace.
CHARTING THE COURSE
Seven Insights Shaping the Marketing Landscape
01 Streamlined Vendors + Value-Driven Strategies Define Success →
02 Back to Basics: Embracing Fundamental Consumer Trends →
03 Balancing Genuine Engagement With Efficient Productivity →
04 The Rise of Contextual Commerce →
05 Immersive Retail Experiences in the Spotlight →
06 The Value-Exchange Creativity Challenge →
07 The Hype Machine Goes Into Overdrive →
Streamlined Vendors + Value-Driven Strategies Define Success
Next year, marketers are expected to streamline vendor relationships, focusing on comprehensive solutions within tighter budgets. This strategic shift is driven by the need to tackle complex marketing challenges without the luxury of increased spending.
Strategic Vendor Consolidation:
Insights from the Vericast Industry Survey
Nearly one-third of marketers are currently navigating the challenges of reducing martech costs while seeking specialized solutions for complex issues, as highlighted in the Vericast Industry Survey conducted in September 2023.
Vendor Collaboration Challenges
44% High System Maintenance Costs
35% Integration Complexities
35% Slower Market Adaptability
33% Demand for Integrated Solutions
33% Stringent Privacy Standards
32% Workflow Complications
31% Omnichannel Solution Needs
Source: Vericast Industry Survey, September 2023 (n = 536), Grocery Drug Mass (n = 103), Retail (n = 102), CPG (n = 126), Restaurant (n = 103), Financial (n = 102)
CMOs UNDER PRESSURE:
INSIGHTS FROM THE GARTNER SURVEY
This Gartner survey highlights that 75% of CMOs must reduce their technology spend. Their tactics align with our prediction, emphasizing a pivot toward operational efficiency and smart martech investments. Additional survey feedback suggests these trends are part of a larger shift in marketing resource allocation.
CMO Cost-Cutting Measures
Source: 2023 Gartner CMO Spend and Strategy Survey
VENDOR EFFICIENCY SURVEY RESULTS:
DEPTH OVER BREADTH
Preference for fewer, specialized vendors is overwhelming: 82% of advertisers favoring expertise and focused collaboration for implementing marketing strategies.
The data speaks volumes. It points to a growing trend among advertisers to streamline operations and seek more thoughtful partnerships with specialized vendors for better outcomes.
01 | Practical Application
In today’s fast-changing market landscape and budget constraints, marketers are seeking more than just tools; they need reliable partners who can guide them toward success. Vericast stands out as that vital partner, offering comprehensive solutions that extend beyond mere technology. Our NXTDRIVE™ platform is not simply about providing an all-in-one customer data marketing tool that simplifies challenges, such as managing diverse data sources, optimizing marketing campaigns, enhancing data expertise, improving visibility, and reducing costs; it’s about embarking on a journey with our clients, navigating together through the complexities of the marketplace.
Back to Basics: Embracing Fundamental Consumer Trends
Marketers who master the essentials — offering competitive prices, high-quality products and services, and impactful promotions — will likely see their brands flourish. As consumers increasingly seek alignment between their purchases and personal values, understanding and leveraging the nuanced interaction between cost savings and brand ethics will become essential.
VALUE vs. VALUES