Keeping up with industry trends can be a real struggle, especially when you’re juggling organizing teams, collaborating on growth-driven strategies, and delivering a positive brand experience amidst everything else going on in the world. Here at Front Burner Marketing, we totally get it. Just like you, we’re constantly trying to stay in the loop, whether it’s squeezing in some reading between working sessions or catching up on the latest LinkedIn articles. It’s all in the name of growing our businesses!
One way we keep on top of the trends, as we earlier mentioned, is through reading! So, get ready to roll up your sleeves and dive into the HubSpot State of Marketing Report 2024! This report is like your GPS in the fast-changing world of innovation, consumer behavior and the endless stream of new tools. It’s your roadmap for industry trends, challenges, and insights. Here, we’ll give you a sneak peek at the highlights, but be sure to download the full report for the complete picture!
AI: The Marketer’s Not-So-Secret Weapon in the Age of Intelligence
In today's fast-evolving Age of Intelligence, keeping up is a challenge. That’s where artificial intelligence (AI) steps in as the marketer’s ultimate assistant. AI is the not-so-secret weapon that helps us navigate through the complexities of our daily tasks, from brainstorming and research to content creation and data analysis.
The HubSpot State of Marketing Report 2024 unveils the top marketing trends that are shaping the industry. As you could have guessed, AI is the star of the show, becoming the ultimate content marketing assistant for 64% of marketers already utilizing its capabilities. And, for the 38% who haven't embraced it yet, odds are that you won’t be researching 2025 marketing trends.
The Social Media Revolution
Social media is the leader in the clubhouse when it comes to 2024 trends, boasting the highest return on investment and an almost unbelievable 43% adoption rate among marketers. Its effectiveness stems from its evolution into a primary avenue for product discovery and purchasing, commanding attention across platforms. Marketers have capitalized on this trend by establishing virtual storefronts, offering consumers a seamless shopping journey, product discovery, influencer endorsements, in-app purchases, and customer service via direct messages.
Recent consumer trend surveys underscore social media's dominance, revealing that a significant majority of Gen Z, Millennials, and Gen X have discovered products through social platforms in the past three months. Moreover, social emerges as the preferred product discovery channel for younger demographics, with older generations finally joining the party.
The Dominance of Video Content
Video content reigns supreme, with marketers attesting to its effectiveness and superior return on investment (ROI). Platforms centered around video content, such as Instagram and Facebook, are identified as the most lucrative, closely followed by YouTube, TikTok, LinkedIn, and others.
Despite the growing prominence of video-centric platforms, only 32% of marketers anticipate Threads to outperform other platforms in 2024, with a mere 11% currently utilizing it. Additionally, a modest 13% of non-users plan to experiment with Threads for the first time in the upcoming year.
The Rise of Micro-Influencers
Marketers are doubling down on micro-influencers for their ability to connect with dedicated and loyal communities. Influencer marketing continues to prove its effectiveness and is expected to grow further in 2024, with influencers wielding even more influence over consumer purchase decisions.
A staggering 86% of influencer marketers found influencer marketing effective in 2023. HubSpot’s consumer trends survey revealed that one in four social media users made a purchase based on an influencer's recommendation in the past three months – a 33% increase from the previous year.
Navigating Data Disconnection
But not everything in this report is peaches and cream. The report also looks at the challenges marketers can expect to face. Organizations are grappling with the impending phaseout of third-party cookies and the struggle with disconnected data, tools, and siloes of information. While data-informed decision-making remains crucial, the crisis of disconnection persists, hindering organizations from obtaining a holistic view of their data.
To address these challenges, having a single source of truth for data is the golden ticket. Surprisingly, while 93% of marketers acknowledge its benefits, only 65% claim to have one in place.
A unified data hub tackles head-on the top challenges faced by marketers in achieving sales and marketing alignment. From ineffective communication between teams to disparate tools used by sales, marketing and IT, and the difficulty in data sharing across departments, a single source of truth addresses these key drawbacks.
However, when these teams aren't in sync, the consequences are severe. Marketers report wasted budgets, lost sales opportunities, and dissatisfied clientele. On the flip side, marketers who aligned with their sales counterparts are 26% more likely to rate their marketing strategy as highly effective compared to their unaligned peers.
Download the Full HubSpot 2024 State of Marketing Report
Now that you’ve hit the highlights, download the HubSpot 2024 State of Marketing Report to really dig in and see what you’re up against. Keeping up in this space is damn near impossible so if you are on your own, contact your friends at Front Burner Marketing today and we will help guide you on your journey!
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