2024 Marketing Priorities and Challenges: Insights from the Field
Marketing teams across organizations and industries are reflecting on their 2023 successes and revisiting their strategies for improvement. Examine how marketing teams are preparing their key strategic priorities and challenges for a successful 2024.
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Demonstrating ROI, revenue generation and digital marketing are top priorities for marketers heading into 2024
Budget restrictions and skills gaps will be key challenges in 2024
Marketers are confident they will have a positive impact on organizational success this year
Revenue & ROI are key strategic priorities for marketers in 2024
Demonstrating ROI (69%), revenue generation (59%) and digital marketing (55%) are the most commonly selected strategic priorities most important to marketers’ teams in 2024.
Based on your personal knowledge, what three strategic priorities will be most important to your marketing team in 2024? Select all that apply.
Influencer strategy 27% | Privacy/security 14% | Vendor relationships 14% | Media spend 7% | Other (fill in) 1%
n = 98 *Other includes: “Partner marketing”
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Question: What 2023 challenge did you learn the most from, and what lessons will you apply to your 2024 strategy?
Having undergone two RIFs, I learned a lot about streamlining our team, finding efficiencies and driving results with fewer resources. In 2024, I'll continue to apply those lessons learned to driving profitable, durable growth.
We singled out the most ROI-effective ways for marketing to operate. We will persist in maximizing those and looking for other activities that are low-cost and effective in revenue generation.
Marketers anticipate budget restrictions and skill gaps will be key challenges in 2024
Over half of marketers report budget restrictions (58%), executive leadership alignment (54%) and organizational cultural resistance to change (54%) will pose big challenges to strategic priorities in 2024.
Which of the following do you personally think pose the biggest challenges to achieving those priorities in 2024? Select all that apply.
Regulatory changes 36% | Supply chain disruptions 31% | Talent issues 27% | Team morale 18% | Wider economic issues 18% | Technical debt 15% | None of these 1%
n = 98
57% of marketers say skill gaps and training needs will pose the most significant talent-related obstacle to achieving strategic priorities in 2024.
Which talent-related issues, if any, do you think will pose the most significant obstacles to achieving your marketing department's top three strategic priorities in 2024? Select all that apply.
Employee engagement and motivation 28% | Adjustment to in-office working requirements 12% | None - I don’t foresee any talent-related obstacles 9%
n = 98
Marketers are confident they will make an impact at their organization this year
Most marketers (89%) are very or moderately confident that their marketing department will play a pivotal role in organization’s 2024 successes. Just 1% are not feeling confident.
How confident, or not confident, are you that your marketing department will play a pivotal role in your organization's success in 2024?
n = 98 Note: May not add up to 100% due to rounding
Question: Do you have any final thoughts to share on your personal opinions about your marketing department's priorities and planning for 2024?
Marketing departments will play a pivotal role for the companies that continue to invest during leaner times. Financial downturn might make closing harder for sales but the problems your product solves do not go away because budgets are constrained.
In their own words...
Question: What 2023 challenge did you learn the most from, and what lessons will you apply to your 2024 strategy?
Focus on the big picture. Do not start too many projects but focus on what really matters.
Data, tech and budget challenges posed a big roadblock in all of our initiatives. We realized the importance of clean data and insights. We also learned how to keep the engine running even in budget cuts by prioritizing and enhancing efficiency.
Question: Do you have any final thoughts to share on your personal opinions about your marketing department's priorities and planning for 2024?
We are entering the new year with fresh ideas, and I think it's important to exhaustively evaluate our mistakes this year to try and correct them next year. I'll implement communication as a must in the team for the 2024 strategy.
We would focus on [the] right mix of campaign and CXO thought leadership positioning to build deeper connections with prospects that go beyond immediate conversions.
Respondent Breakdown
