This blog post is based on an article by Wall Street Journal that highlights Deloitte's “2022 Global Marketing Trends”. It sums up Deloitte’s seven global marketing trends into “Put Customers First”. The consumer first global marketing strategy is especially important during the pandemic. Consumers now want more personalized ads while also criticizing the privacy concerns that come with them. Companies now have to find creative and inclusive ways to market themselves. The findings are based on 11,500 consumers and more than 1,000 global executives. The highest growing brands addressed the customer experience with a holistic view, collaborating across different areas of the company.
To put customers first, it is important for the customer to connect with the message. This emphasizes the importance of diversity. The survey found that 94% of Gen Zs expect companies to act upon social injustice and 90% are willing to purchase products that benefit society. Building on that, the next reason titled “Purpose– a beacon for growth”, highlights the importance of companies not only marketing their products but their companies' purpose as a whole. Like diversity, it is important for younger consumers (57%) that the brands they support to address social inequities.
The next three trends talk about user data. In the marketing world, it is increasingly important for new hires to have strong analytical skills. 556 CMOs claimed that analytical skills were more important than creativity. While this is very important, the next reason counteracts it by talking about the increasing importance among consumers for privacy. Through regulations, there is a decrease in companies' use of third-party cookies, however marketers are now looking at first-party cookies as a new means. The article also mentions how using device listening data can also be tricky. 26% of participants said that advertisements based on device listening were helpful, however 53% found them to be creepy.
The last two talk about the hybrid experience between digital and physical worlds. As businesses start to reopen, companies need to manage building their marketing channels to accommodate both. Companies are now investing lots of money to try to connect the two. 75% of global executives say they are going to invest more in the hybrid experience in the next year. Also with AI, marketers are balancing relying on humans vs AI. It is difficult because it would save money, however it could be detrimental if consumers find it important to talk to someone.
To sum up the article, with inclusion, technology, and the pandemic, marketing is becoming a lot more complex to market products and promote the brand as a whole. C-suite executives have to invest lots of time and capital to meet the demand of the changing environment.