As we step into the dynamic landscape of 2024, WS’s top minds—Darcy Pawlik, Maz Tannir, and Stephanie Ostermann—offer exclusive insights into the evolving marketing trends, challenges, and exciting possibilities shaping the industry.
Darcy: This does not necessarily apply to the entire industry, but the trend I see WS further adopting in 2024 is going beyond the services we provide. That involves the agency integrating with the client’s sales, IT, and customer service teams for a more meaningful and efficient marketing impact. I believe that we, as an agency, will make a tremendous difference operating this way and ultimately deliver the utmost value to our clients.
Maz: From the media perspective, one of the major trends is the environmental impact of digital media. These conversations have already started, and I see them continuing in 2024 and beyond. The industry will be looking for more ways to be more sustainable and mindful of the carbon emissions footprint we create with our practices.
Something else that has been creeping up on us a lot more is the world of privacy. Clients seeking lead generation and data segmentation face growing challenges due to evolving compliance standards. Originating in Europe, privacy regulations have swiftly extended to the United States and are now intensifying in Canada, starting in Quebec and spreading nationwide. From a data privacy standpoint, understanding what they can and cannot do with data will become quite important.
Stephanie: The QR code, once revived during the COVID era, has now become a standard feature. A notable trend involves using QR codes to prompt immediate action on a separate device, for example, in streaming TV ads. The typical instructions involve opening the phone app, zooming in, and following the provided link. This increased focus on the multi-device experience will likely persist, enabling users to transition seamlessly between channels. And the fluidity of this omnichannel experience is crucial for the ongoing evolution of user engagement.
Maz: In the retail media space, we are witnessing e-commerce websites becoming their own channels (retail media). Platforms like Amazon, Wayfair, and QC Supply all aim to improve the quality of each individual shopping experience. This means that how they collect and utilize user data will surpass what we currently see on social media channels. And that brings forward the tools that automate and streamline personalization.
Another crucial aspect is that the speed of internet connectivity is continuing to improve. With 5G becoming increasingly apparent, we are looking at more time spent streaming, browsing, and specifically browsing on mobile. This urges us to continuously perfect the speed of getting content to the audience and making a memorable impression at the right time and in the right place.
Stephanie: AI (artificial intelligence) is a major tool. And we must employ absolute transparency with our clients when it comes to how we use it. This includes what we are using AI for and what we do not use it for. And also, what are the ethical implications of using it, particularly when it comes to generating images?
We know there are some major issues around what’s been used as source imagery to train the algorithm, which involved stealing artists’ work. And we’re only really starting to shape what a policy, internal best practice, or industry best practice looks like. But, for sure, I don’t think AI is going anywhere. It’s been added to every tool we use in the last year.
Darcy: I agree with Stephanie. The role and significance of AI in digital marketing continue to grow, and we need to communicate exactly how we use it with clients. I look at AI from the perspective of operational efficiencies and efficiencies across our organization. These tools make our processes more streamlined and empower us to create more innovative audience experiences by freeing up our working capital, leaving more room for impactful creativity.
Darcy: From an operational perspective, the key KPIs of cost per lead and close percentage are top of mind. They both ultimately ladder to revenue and profitability, and with the current state of the market, the pressure on marketing teams to deliver ROI will only intensify.
For WS and other agencies, this means being able to see, learn, and adjust in real-time. It means continuously monitoring the campaign in the market, noting what is working and what isn’t, and making relevant adjustments to achieve and exceed the ROI.
Stephanie: I believe it’s the lifetime customer value—the rate of return of loyal customers. The markets continue to get more and more noisy, so building and maintaining these relationships built on trust is crucial.
The focus should be on comprehending the frequency of repurchases and determining the optimal timing for remarketing. The significance of engagement and conversions remains constant; mere impressions and reach metrics matter less than ensuring active audience engagement. It’s vital to prioritize interactions that leave a positive impression, fostering a sense of being seen and heard and ultimately encouraging customers to return and engage further with the brand.
Maz: In the media, it is often about instant gratification. We evaluate performance around the clock, tweaking here and there to improve the feedback on whatever that focus KPI might be. It could be time spent on the website or the video viewing duration—at the end of the day, it’s all about conversion.
A KPI my team and Stephanie’s team have to work closely on is the return on advertising spend, as it is always the way to justify the budget for clients. So, there is an entire dictionary of KPIs, many of them vanity-based, that we include for mathematics. But the bottom line remains conversion and return on advertising spend.
Maz: The media landscape is shifting significantly with declining print readership, leading to a predominant focus on the digital ecosystem. In combination with other channels like TV and radio, the dependency on impressions and sign-ups is getting stronger. And considering how many players are in the same space, cutting through that clutter is particularly challenging.
Circling back to what Stephanie said earlier, the QR code is a wonderful tool. But our challenge is communicating very clearly that it is not a measurement tool. The idea that if no one is scanning the QR code, the medium is not working is inherently wrong. And as we work to change that mindset, the way we measure will also have to change.
Stephanie: I agree with Maz—it’s noisy out there, and it’s getting harder and harder to rise above the noise. Not just because there is so much but because the platforms want you to pay for that access. We need to ensure that we get noticed, and it’s not a question of data. The data is coming at us like a firehose. The challenge is to use it quickly and efficiently enough to succeed.
Darcy: The marketing challenges this year and beyond are directly related to the North American and global economies contracting, to say the least. Companies face heightened pressure on their marketing budgets, impacting their ability to maintain a strong brand presence, especially in the digital realm.
The continued dominance of e-commerce, spearheaded by giants like Amazon, further compounds challenges by exerting downward pressure on prices, eroding profitability. With diminishing free cash, companies struggle to uphold essential marketing activities, including maintaining a social presence. As consumers face increasing bombardment, companies have fewer resources to address this dynamic landscape. So it’ll be interesting to see how this all plays out.
Darcy: Social media is under pressure due to increasing costs and the sheer ability to participate by cutting through the noise Maz and Stephanie mentioned. We must deliver content that will truly stand out and get us the conversions we are looking for. Trying to figure it out can surely cause frustration in a client-agency relationship.
But at the same time, I don’t think the tactic will fade away as much as it will help differentiate the marketing professionals offering real value in this sector. Agencies must deliver exceptional results at reasonable costs to dominate the social environment. Others might have to shy away from this tactic.
Maz: I think what is going to have to change is the way we approach tactics. Specifically, the idea of using one or two tactics to reach the audience. While the word “omnichannel” has been around for a while, in 2024, the omnichannel approach will become mandatory. It’s about adopting a mentality of connecting all the dots of the user journey—online and offline. And I see more companies doing that in the future.
Stephanie: What will change is the way we work with influencer marketing in our strategies. There is a demand to understand how the ROI truly depends on an influencer. And influencers aren’t always the best choice.
From what we see now, influencers work more closely with agencies. This means more transparency in such relationships and data handling and a better experience for everyone involved.
Darcy: I have a lot of personal excitement about the prospects of creating and disrupting new markets. Particularly by collaborating with innovative companies. This has been a cornerstone of my career, and now the opportunity to help more companies achieve success is beyond exciting. I look forward to not just contributing from a marketing standpoint but also being a strategic partner for their journey.
Maz: I look forward to us expanding our horizons even further in 2024 by working with new industries, ideas, and tools. We are also continuing to learn and experiment, which we did a lot of in 2023, and we are not planning to stop.
Stephanie: I’m thrilled about the evolving dynamic with clients over the past year. We’re now working collaboratively, fostering open communication and strong relationships. Gone are the days of secretive lab work; instead, it’s all about continuous interaction and idea-sharing. This approach yields more robust campaigns and cultivates deeper connections with our clients.
I look forward to exploring even more efficient, effective, and mutually beneficial ways to collaborate moving forward.
Connect with us to leverage the skills and knowledge Darcy, Maz, Stephanie, and the rest of the WS team offer for the marketing success of your project.
Darcy is a lifelong learner and loves building innovative products. Having had the lead for introducing Hybrid Wheat in NA and later developing an award-winning AgTech insurance product are some examples of what Darcy brings to WS. He aims to deepen our work in new and disruptive technologies of our customers and support how WS can transform the Ag Marketing landscape worldwide. Connect with Darcy on LinkedIn.
Maz uses 26+ years of experience to effectively develop, negotiate and tailor media strategies to align with marketing goals. He is actively involved in industry organizations including the IAB (Chair, Diversity and Inclusion Taskforce and Programmatic Trading Committee), and is a Media and Advertising Professor at George Brown College. You can connect with Maz on LinkedIn.
Stephanie has eight years of experience in content strategy across all channels; specializing in content creation, execution and deployment, social media scheduling and community management. She holds her Bachelor of Arts in Professional Communication from Royal Roads University. Stephanie wonders how communities define and redefine themselves both on and offline. You can connect with her on LinkedIn.
