What did they have to say?
“The year of data is finally here. Third-party cookies are on their way out, data will (finally) become the hottest topic and now is the time to get onboard. Without a proper first-party data strategy and the ability to store, manage and analyze data, brands will start flying blind.” – Lars Lehne, Incubeta Group CEO
“Knowledge is power – and 2024 will be the year where data infiltrates all that we do, from AI integration and optimization, to personalization and compliance. Having one source of truth will help brands find their direction – and come out on top” – Mike Ossendrijver, Incubeta CEO EMEA | CGO
“To remain competitive and embrace sustainability, we must harness the power of data meaningfully and heed its directorship. It’s the Steven Spielberg
of the digital industry…” – Jessica Jacobs, Incubeta Global Chief Growth & Partnerships Officer
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What key themes will we see in 2024?
Fueled by external factors, consumer behaviors and technological advancements, there are a number of key themes we anticipate to take center stage next year.
Artificial Intelligence: Data and AI will have to go hand in hand in 2024 if advertisers want to truly harness its power. We’ll see a significant emphasis being placed on clean data structures, effective implementation and a rise in ‘black box’ AI solutions (as big tech firms shift into high gear to support AI driven marketing).
Privacy & Compliance: As it has been for the last decade, privacy will be a key focus for the industry throughout 2024 – especially with the final demise of third-party cookies. We’ll likely see brands adopting tech that allows them to bypass competitors while respecting people’s right to privacy. Additionally we’ll see increased focus on the impact of losing third-party cookies, complete GA4 adoption and cross-market legislative crackdown.
Budget Efficiency: Budget volatility will persist in 2024 with the economic outlook driving all business units to focus on profitability. Expect tightly monitored budget strategies aimed at maximizing profits through efficient resource allocation. Plus a focus on investing in proven channels, creating new revenue streams and identifying and eliminating waste.
Personalization: Mass marketing is taking a backseat as consumers crave, and expect personalized experiences. 2024 will need to see brands striking the right balance between managing consumer expectations and executing responsible marketing – with a key focus on first-party data enrichment.
Measurement & Attribution: Prepare for a shift towards data and measurement projects as brands strive for higher digital maturity, increased visibility, and a profound understanding of first-party data aligned with key business goals. We anticipate a focus on cookie deprecation, robust measurement solutions and defragmentation.
Want to learn more? Download the full whitepaper here, 2024: A Year of Data for in-depth insights and additional coverage on AI, Privacy, Budget Efficiency, Personalization and Measurement, plus a bonus section discussing Market Snapshots.