The Top 10 Marketing Activities in 2024

Hello, I’m Carlos Valdez, Director and Founder of Mercadotecnia y Ventas. This is my video audioblog for August 20th, titled The Top 10 Marketing Activities in 2024. Here, I present the key findings from the most recent study.

In the CMO Survey Spring 2024, a study conducted by Deloitte, Duke University, and the American Marketing Association, CMOs (Chief Marketing Officers) were surveyed regarding the primary responsibilities of the marketing function in their companies. This study revealed 29 areas of responsibility that marketing departments should focus on, but in this blog, we highlight the top 10 activities according to the report’s findings, starting with the tenth and moving to the most critical.

10. Marketing Technology
    Although it wasn't assessed in 2023, in 2024, 65.8% of CMOs identified marketing technology as a priority. Martech, or marketing technology, includes tools and software that allow marketing teams to automate tasks, analyze data, and improve the efficiency and effectiveness of their campaigns. Investing in martech is crucial to remain competitive in an ever-evolving digital environment.

9. Positioning
   66.2% of CMOs consider positioning key to differentiating their brand from the competition. Positioning is the strategy for defining how a brand or product is perceived in the consumer's mind. Good positioning allows the brand to occupy a prominent and desirable place in the market, which is essential for gaining market share.

8. Promotion
   With 69.4%, promotion remains essential for raising awareness of new products or services and fostering demand. It includes activities such as special offers, discounts, and advertising campaigns designed to capture consumer attention. Effective promotion is key to driving sales and increasing brand visibility.

7. Marketing Research
   70.3% of those surveyed emphasize the importance of marketing research. This activity helps companies better understand their consumers and competitors, allowing them to adapt their strategies in an informed manner. Marketing research is fundamental for making strategic decisions aligned with market needs and desires.

6. Lead Generation
   Lead generation has gained importance, with 70.8% of CMOs prioritizing it to ensure a steady flow of potential customers. Lead generation refers to strategies for attracting and converting prospects into customers. This process is crucial to maintaining a healthy sales pipeline and ensuring the company's continued growth

5. Marketing Analytics
76.3% of CMOs consider marketing analytics crucial for measuring campaign performance and making data-driven decisions. This activity involves collecting and analyzing data to optimize marketing strategies and improve ROI. The ability to analyze data effectively is essential for understanding consumer behavior and adjusting tactics accordingly.

4. Social Media
   With 82.2%, social media is seen as a vital tool for interacting with consumers and promoting the brand in real-time. Platforms like Facebook, Instagram, and LinkedIn allow companies to build communities and maintain a close relationship with their customers. Social media is also an important channel for reputation management and direct communication with consumers.

3. Advertising
   Although there was a slight decrease, 83.1% of CMOs still see advertising as a critical activity. Advertising is the paid promotion of products or services through various media, aimed at capturing attention and motivating action from the target audience. It is an essential component for reaching new audiences and maintaining the brand's market presence.

2. Digital Marketing
   87.2% of CMOs consider digital marketing a key task, underscoring the importance of digital strategies in reaching global audiences. This approach includes tactics such as online advertising, social media marketing, SEO, and more, all designed to attract, convert, and retain customers in a digital environment. Digital marketing is fundamental to any modern marketing strategy due to its precise targeting and measurement capabilities.

1. Brand Management
   With 87.2% of respondents identifying brand management as a top priority, this activity remains essential for establishing and maintaining the company’s identity and reputation in an increasingly competitive market. Brand management ensures that consumer perception aligns with the company’s values and promise, which is crucial for long-term success.

Other Important Marketing Activities
In addition to the mentioned activities, CMOs are also responsible for other key areas such as Customer Experience, Revenue Growth, and Innovation. These activities, though not topping the list, are equally important for the overall success of a company’s marketing strategies.

And as we mentioned in last week’s blog about the definition of marketing, at its heart lies value creation. Therefore, all these activities should be strategically planned within the marketing plan, with the objective of attracting new customers and retaining them through value creation. A satisfied customer becomes the best promoter of the brand.

I’ll close with a key question: How much budget should we allocate in our marketing plan or marketing efforts? Marketing directors in 2024 agree that you can allocate 10% of the company’s overall budget, and they also recommend 10% of your sales revenue.

Many thanks to everyone who has connected with me via LinkedIn and sent messages or emails. Remember that you can contact me at [email protected].

I’ll close by reminding you that in marketing and sales, we must always create value.

Dr. Carlos Valdez