Artificial intelligence (AI) and generative AI (GenAI) create a paradigm shift for marketers … [+]
MarTech, a wide range of software tools used in marketing campaigns, will continue to focus on artificial intelligence (AI) and generative AI (GenAI) to drive unprecedented levels of personalization and customer engagement in 2024 . Retailers and brands are emphasizing the importance of AI. The need for effective collaboration between marketing and departments. With around 60% of marketers prioritizing their AI investments as their main focus, a new study reveals the strategies, challenges and trends that will determine marketing success in the coming year. “Deploying GenAI to know more, do more, learn more, and achieve more has the potential to transform CMOs and other marketers,” said Zeta Global President and COO. says Steven Gerber.
Here are key takeaways from the CMO Intentions 2024 study by the CMO Council and Zeta Global Holdings Corporation.
1) AI and GenAI will lead martech investment
AI is expected to drive content creation, personalization, predictive analytics, and overall marketing efficiency improvements, with 60% of marketers saying this initiative provides the most value and return on investment (ROI). I think so. AI and GenAI can not only drive improvements, but also segment customers more accurately and with greater precision. Microsegmentation, which used to be very costly for retailers, can now help increase brand engagement and loyalty. Additionally, automating your marketing efforts to eliminate repetitive tasks such as email marketing, social media posts, and advertising increases consistency across your campaigns.
One in three CMOs said they need to improve campaign performance, but 46% of survey respondents said … [+]
2) Operational excellence and cross-departmental collaboration
To maximize the potential of your martech investments, it’s important to collaborate across functional areas of your business. When sellers (buyers), marketing, operations, finance, and HR work together, a clear vision and operational excellence are achieved. “The first step in this transformation is simple in theory but complex in execution: Elevating intelligence from a weakness to a superpower,” Gerber said.
By further integrating MarTech investments across online and offline activities, retailers can become more efficient, agile, and truly customer-centric. A unified strategic approach to marketing results in increased brand exposure for customers and employees, providing long-term benefits for today's retailers.
3) Data-driven personalization and customer engagement
Customer data platforms and insights are essential to personalize and humanize customer engagement. By analyzing vast amounts of data, AI helps marketers better understand the customer journey and adjust their approach accordingly. According to a study by CMO Intentions, nearly half of marketing leaders believe collecting and analyzing customer data is important to increasing engagement. Sophisticated chatbots and virtual assistants interact with customers in real time and provide highly personalized experiences. GenAI addresses individual customers with personalized product and service recommendations, driving higher engagement and deeper loyalty, resulting in a highly customized experience for shoppers when shopping. Masu.
It's important to seek functional alignment, execute consistently across the enterprise, and demonstrate ROI. … [+]
4) Achieving revenue and customer goals despite challenges
There is increasing pressure on marketers to prove their marketing impact on campaign performance, with 37% of survey participants stating the need for better execution. 56% of CMOs reported meeting revenue and customer acquisition/retention goals while delivering ROI, overcoming siled data ownership, and ensuring new platforms and tools into the IT technology stack still needs to be integrated into. His successful CMOs often report stronger alignment across the C-suite, emphasizing the importance of executive buy-in and cross-functional support. A positive takeaway from the survey is that existing teams have high levels of digital skills and proficiency, with 83% of CMOs saying their teams have these skills. says. However, skills gaps vary widely by geographic region.
5) Regional differences in marketing performance:
There are notable differences in marketing performance between North American and European marketing leaders. These differences reveal different challenges and priorities that influence how marketing strategies are executed in these regions. Approximately 40% of marketing leaders in Europe acknowledge the need for improvement in the performance of their marketing campaigns, compared to only 23% of North American leaders. Additionally, the digital marketing skills gap is more pronounced in Europe than in North America. Just 20% of his CMOs in North America report that they need digital skills to improve their overall marketing operations, while this figure is 40% for his CMOs in Europe. This digital proficiency gap may contribute to regional performance differences. Other factors that can lead to variations in marketing performance include economic conditions, geopolitical considerations, differences in data protection, and privacy laws. Differences in strategy across regions can also provide insight into variations in marketing performance. North American marketers tend to prioritize innovation and new product launches, while European marketers focus on customer engagement.
AI and GenAI bring a paradigm shift to marketers
“It won't be easy. But in an age where intelligence is the ultimate competitive advantage, the future belongs to those who are willing to embrace it,” Garber said. These key points include the growing importance of AI in marketing, the need for effective cross-functional collaboration, the value of customer data for personalization, the pressure to demonstrate marketing impact, and marketing strategies and challenges. It highlights the differences between regions.
The Chief Marketing Officer (CMO) Council and its strategic interest community includes more than 65,000 global executives spanning multiple industries, sectors, and markets in more than 110 countries. The CMO Council's findings are based on a survey of approximately 200 chief marketing officers in North America and Europe. Zeta Global Holdings Corp. is a data-driven, cloud-based marketing technology company. The stock recently hit an all-time high closing price of $17.42, representing a 97% increase since the beginning of the year.
