What’s top of my mind
The use of Artificial Intelligence (AI) and Machine Learning (ML) in marketing, such as ChatGPT, is critical to harness and integrate into your offering.
We are reviewing our entire agency innovation roadmap to ensure we stay onto of this trend as it is going to totally transform the marketing landscape as we know it – not in years, but in months!
The recession is also impacting various brands’ business focus, with 50% of consumers deeply concerned about the cost of living and their futures. It also typically sees a general decrease in spending power by 8-10%, impacting budgets and driving pressure on agencies to deliver even stronger ROI.
Brands’ big opportunity
Brands have a chance to leverage AI, data and insights to create tailored and contextual content and targeting strategies.
They can use AR and Web3 to drive ‘phygital’ experiences with customers that provide deeper customer experiences.
Use data to understand customer values that your brand can align itself with long-term – for example, grassroots youth funding, sustainability initiatives.
What defines a quality media environment
A diverse range of sources and trusted industry leaders guiding narrative is critical, it ensures a balanced objective viewpoint and mitigates against fake news or trend-based movements.
There is nothing more important than reliable, accurate, and fact-checked information when building out marketing strategies – many brands and agencies fall on their own beliefs and egos.
Transparency and accountability of media outlets, including clear labelling of sponsored content, ownership and funding sources is going to be critical in 2023/24.
There is a massive mistrust with the system currently, especially with governmental and financial institutions. Funding and
investment behind qualitative and quantitative data is paramount – we need to review blanket and generalised viewpoints and establish specific data around specific topics to guide our marketing initiatives.
Transforming the agency
AI-powered data to drive our targeting and content styles is a huge focus for Buddy Media – especially with the impact of platforms such as Apple and Google on consumer behaviours.
We are also starting to integrate Web3 and NFTs into our offering to maximise fan and customer engagement and to ensure we continue to hit people from multiple touchpoints.