Erik Huberman, CEO of Hawke Media, predicts 2024 martech trends - focus shifts to growth over profitability, consumer trust in established companies, and success factors for martech industry. Key topics include AI impact, publisher monetization challenges, data deprecation, and privacy concerns in marketing.
Established martech companies are poised for success in 2024 due to consumer preference for proven solutions.
Amidst the AI saturation in marketing technology, a shift towards innovative marketing strategies beyond traditional channels is predicted.
Deep dives
Consumer Marketing Trends for 2024
In the podcast, Eric Huberman discusses consumer marketing trends for 2024, emphasizing a growth focus on traditional channels like digital, meta, Google, and possibly TikTok. He highlights AI's significant presence in marketing technology but mentions an impending saturation point with many AI tools failing to deliver expected results. While some companies are innovating effectively, others are creating minor features instead of impactful solutions. Huberman predicts a shift towards new marketing strategies beyond current channels.
Martech Industry Outlook
The discussion delves into the Martech industry's current landscape, noting a proliferation of AI and optimization pitches, alongside a dearth of truly innovative companies. Huberman expresses skepticism towards the current influx of widgets instead of substantial business solutions. Despite successful investments in optimizing tools like affiliate marketing platforms, he anticipates a slowdown in AI-focused solutions and an emerging market demand for novel marketing approaches.
Data Privacy and Technology in Martech
Highlighting the evolving landscape of data privacy, the conversation touches on the expiration of third-party cookies and its impact on marketing. The dialogue shifts towards the future of data collection, utilization, and privacy in marketing, emphasizing the competitive nature of adaptation to new tracking methods. Huberman discusses Google's strategic moves in data ownership, foreseeing advancements in server-to-server tracking and emerging trends in data utilization amidst evolving privacy regulations.
Erik Huberman, CEO of Hawke Media, delves into consumer marketing trends. In 2022 and 2023, the focus was on profitability, but now in 2024, businesses are prioritizing growth and turning to proven solutions. Today's consumer values a track record of success and martech companies that are already established are in a strong position to succeed in 2024. Today, Erik discusses his predictions for the martech industry.