Marketing Effectiveness in 2024: Kantar Survey Reveals Top Priorities

The marketing landscape is constantly evolving, and staying ahead of the curve requires a laser focus on effectiveness. In its third year, Marketing Week's "The Language of Effectiveness" survey, supported by Kantar, sheds light on how marketing leaders are approaching, measuring, and communicating marketing success in 2024.

The survey garnered responses from over 1,200 marketers, offering valuable insights into their current priorities and challenges. Here's a breakdown of the key takeaways:

Winning the Market Share Battleground:

The survey paints a clear picture: conquering market share reigns supreme as the top priority for marketers in 2024.Nearly half (46.2%) of respondents identified it as their most crucial function. This intense focus reflects the competitive marketing environment, where brands are vying for consumer attention and loyalty.

Building a Strong Brand Image:

Beyond market share, building and maintaining a consistent, desirable brand image is another high priority (44.7%).Consumers are bombarded with marketing messages, and a strong brand identity helps businesses stand out from the crowd. This highlights the growing importance of brand storytelling and creating a genuine connection with target audiences.

Sales & Audience Reach Remain Critical:

While market share and brand image take centre stage, the survey emphasises the continued importance of driving sales and maximising audience reach. Defending and growing sales is a core objective for any business, and effective marketing campaigns are instrumental in achieving those goals. Reaching the right audience with the right message remains a fundamental aspect of marketing success.

Return on Investment (ROI) Takes Center Stage:

Metrics and measurement are crucial for demonstrating the effectiveness of marketing efforts. The survey underscores the ongoing focus on ROI, ensuring marketing investments translate into tangible business results. Marketers are increasingly seeking ways to quantify the impact of their campaigns and demonstrate the value they bring to the organisation.

Customer Retention Gains Traction:

The report also suggests a growing emphasis on customer retention strategies. Acquiring new customers is important, but retaining existing ones is often more cost-effective. By prioritising customer satisfaction and loyalty programs, marketers can foster long-term relationships with their customer base, leading to repeat business and positive brand advocacy.

The Road Ahead: New Frontiers in Marketing Effectiveness

The 2024 Language of Effectiveness survey offers a valuable snapshot of current marketing priorities. Looking ahead, the report also explores emerging trends such as the role of AI in marketing decision-making and the increasing importance of sustainable marketing practices. As the marketing landscape continues to evolve, staying informed about these trends will be crucial for businesses to achieve and demonstrate ongoing marketing effectiveness.

While this summary provides a high-level overview, the full report from Marketing Week will be released in the coming weeks.