In our recent global survey of marketing leaders, we delved into the concerns, budget planning, and strategies moving into 2024. The dynamic nature of the world, coupled with evolving consumer preferences, demands marketers to stay agile, creating deeper connections with their customers and at every stage of their shopping journeys.
Navigating Challenges and Strategic Shifts
The research revealed that 58% of respondents grapple with the challenge of sourcing assets for campaigns, including user-generated content and stock images. Additionally, 48% struggle to determine best practices for each platform, while 44% face difficulties in personalizing creative assets to adhere to platform-specific specs.
Looking ahead, marketers foresee the following as the most significant pain points in 2024:
78% lack the right tools to execute successful campaign strategies
66% struggle to manage the growing number of channels and platforms, while increased competition worries 58%, and measurement and attribution complexities affect 51%.
Innovation Opportunities in Digital Advertising
Despite these challenges, a notable shift is occurring. A substantial majority already invest in campaign management and optimization (78%), creative automation (96%), and Generative AI (96% of respondents invest or are doing initial testing in campaign management and optimization and 90% are doing initial testing in visual asset generation).
Looking towards the future, brands will increase their investments for the upcoming year in the following areas:
Leading brands have integrated automation into their digital advertising strategies, with initial investments and tests in Generative AI. Creative remains a potent performance lever, and to stay competitive in the evolving digital advertising landscape, mastering automation is imperative to meet the growing demand for creatives and the expansion of digital channels. More than a buzzword, Generative AI will disrupt digital advertising and offer new, better solutions for marketers. Incorporating Generative AI in digital advertising strategies in 2024 is critical for continued brand growth and success.
Learn more about the digital advertising trends driving performance innovation in 2024. Download the full report!