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If you thought ushering in the 2020s with a global pandemic would be the most unlikely thing to happen for a while, you weren’t alone. It’s early 2024, but we know there are unexpected and unexplained things in store for businesses, marketing teams, agencies, and you.
While the pandemic devastated industries like travel, tourism and hospitality, it created a boom for segments like B2B technology, home goods retailers and home improvement companies. But with every rise comes a fall, and areas like tech felt the pain in 2023. We didn’t even mention inflation, interest rates and global political instability.
Layoffs in the technology sector alone added up to nearly 250,000 jobs Redundancies.fyi. Job losses have also piled up in sectors such as financial services and retail.
Marketing is often among the first areas of an organization to be hit by job cuts, and that remains true.
But job losses aren’t the only thing affecting marketers and their wider organizations.
The explosion of AI. Is it a tool? Is it a job killer? Is it a skill that marketers need to master? It can be all of the above. It can help teams scale and move faster, and helps automate manual tasks. But many of the tasks used to be done by people.
Scrutiny of martech stacks and other investments. When budgets are tight, technology investments look long and hard. Contracts for renewals and new deployments must show a quick return on investment or they stand no chance.
Change channels. X, once one of the most impactful social media channels, has lost a significant number of advertisers since Elon Musk took over. In early 2024, Google and Yahoo will implement new rules for email senders.
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