A recent survey conducted by Serviceplan Group and the University of St.Gallen has revealed that AI, Emotional Branding and Content Creation are set to dominate the marketing landscape in 2024.

The study, which saw participation from approximately 800 Chief Marketing Officers (CMOs) across 11 countries, also highlighted the evolving perception of agencies and the skills marketing chiefs will require in the coming years.

The countries included in the study were Austria, Belgium, Germany, France, Italy, Luxembourg, Netherlands, Switzerland, Spain, the United Kingdom, and the United Arab Emirates. The survey aimed to gather industry forecasts for 2024 from the perspective of these seasoned marketing professionals.

A significant 83% of CMOs identified AI, machine learning, and marketing automation as the biggest tendency for 2024, indicating a continued dominance of these technologies in the industry. Content Creation and Emotional Branding were not far behind, with both trends garnering 82% of votes. NFTs and Metaverse were largely absent from the CMOs' top agenda, with only 24% of votes, while cultural marketing is gaining attention with 42% of respondents agreeing that this area holds potential.

From an economic perspective, 46% of participants anticipate no major industry changes, while 36% foresee moderate to significant economic improvement for marketing teams. Over a third of respondents predict at least a slight increase in their 2024 marketing budget, with nearly a quarter expecting a minimum rise of 5%.

In terms of skills, open-mindedness was chosen as the leading focus for CMOs and their teams in 2024 (29%), followed by ‘Flexibility, Adaptability and Agility’ (26%) and ‘Developing Leadership and Empathy’ (21%).

Serviceplan Group CEO Florian Haller, expressed optimism about the future.

“Although the results of this year’s CMO Barometer still show caution when it comes to the economic situation and investments, the trend is clearly pointing to optimism. That gives me confidence that we will face these challenges together and grow with them. At our side, we have an exciting new tool: if used correctly, AI can make our daily work easier, provide solutions to complex problems and take innovation to a whole new level," he said.

The survey also revealed an evolving perception of agencies, with creativity, innovation, and vision the top attributes 33% of CMOs expect from agency partners. ‘Adaptability’ leads the skill ranking, garnering 10% of votes, followed by ‘Creativity and Innovation’, and ‘Market/Business Knowledge’.