Dan Kahn is President and CEO of Kahn Media .
Change is common for marketing and PR leaders, and in 2024 they need to adapt to it more than ever.
Based on my observations, there are three critical factors that influence marketing and public relations in the new year. Artificial intelligence, for example, is not going away, and leaders in both sectors must adapt. Then there's what I call a "lumpy" economy (JPMorgan Chase has a detailed analysis of what might happen in the future), which makes budgeting more difficult. Finally, improving data protection laws will make it more difficult for marketing and PR companies to use third-party data.
Given these factors, what do marketing and PR agencies need to do differently to thrive in 2024?
1. Focus on creating high-quality, engaging content
Marketing and PR agencies are using AI tools in 2018 and plan to continue to do so, according to a November 2023 survey by Matter Communications (a PR, marketing and creative services agency). Specifically, Matt Communications found that 79% of “marketing managers and marketing/communications decision makers” plan to “invest in AI by 2024,” regardless of the expected challenges of implementing AI in marketing/communications programs. Additionally, the survey shows that content development and ideation is the number one area where “marketing/communications programs that leverage AI will benefit the most.”
Artificial intelligence accelerates the content creation process. This is particularly important to think about. But in my opinion, the spread of artificial intelligence has led to a homogeneity of content. It may be easier than ever to mass-produce relatively well-written content. But there are indications that the content is written by artificial intelligence. As far as I know, AI-generated content is not emotionally motivated, and this emotional element is becoming the backbone of book launches, book debates, compelling blog posts, and campaigns that force PR journalists to respond via email. At the center of public attention. language and so on.
AI-generated content dominates the internet and drives more volume. Marketing and PR managers and their teams need to stop the hype of producing high-quality, emotionally engaging content that excites and delights people. This helps clients of marketing and PR companies stand out in the market, and in turn, companies stand out from the crowd.
2. Provide exceptional customer service
Excellence is more important than ever in the current economic climate.
This is the most unusual economic period of my career. A December 2023 Yahoo News article states, "Most Americans believe the U.S. economy is in bad shape," but "most experts disagree," leading to "one of the strangest economic relationships in the country." " leads. . When it comes to consumer behavior, it's worth noting that a December 2023 Reuters report noted that Walmart's top executives said that "next year will be difficult to predict as financial woes force customers to to be more careful with their spending.”
The Covid-19 pandemic has hit some sectors particularly hard, such as hospitality and tourism. But it has led to growth in other areas such as outdoor recreation and home improvement. However, there have been changes post-pandemic: for example, the hospitality industry has come back to life, but consumer spending on home improvement has declined.
When customers do well financially, marketing and PR firms do well too. In times of economic uncertainty, marketing and PR firms must embrace what American restaurateur Will Guidara calls “irrational adaptation.” Marketing and PR managers and their teams must do their best to keep customers happy. The token can be placed on a phone for up to 30 minutes to add a travel guide for an advertising campaign, email marketing without the manufacturer's option, or a caller who can quickly respond to advanced media configurations. Of course, marketing and PR teams should be careful not to work for free. Above all, they provide useful services. However, they must look for ways to exceed their customers' expectations. The happier your customers are, the more likely they are to stay.
3. Use first-party information whenever possible
To continue delivering results for their clients, marketing firms (and some PR firms, this question is more about marketing) should use first-party data whenever possible and avoid third-party data due to privacy laws.
According to the Association of National Advertisers, privacy laws "such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA) severely restrict the use of third-party cookies, leaving many digital marketers looking for new ways to 'serve their customers.' achieve'.” And further data protection laws are on the horizon. Marketing and PR professionals shouldn't rely on third-party data or put all their eggs in one basket - social media platforms like Instagram and Facebook. .
Instead, customers should prioritize first-party information by helping them create mailing lists that consumers can subscribe to. Additional interest? While brands have their own email lists, they are not at the mercy of social media companies. Marketing and PR professionals should leverage third-party data. But I can't stress this enough: you need to put first-party data at the forefront.
Ultimately, innovation and strategy will lead to success in 2024.
The new year may bring other changes that we are not aware of. Whatever happens in 2024, marketing and PR leaders must remember two hallmarks of their industries: innovation and strategy. Innovation and strategy help marketing and PR organizations weather current and new storms.
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