What marketing taught us in 2024

By Priyanka Nair , Director - Brand Solutions, GOZOOP Group

In the past few weeks, we’ve had the privilege of engaging with some of the brightest minds in marketing. They’ve provided valuable insights into the year, highlighting evolving trends and challenges. The marketing landscape has undergone a significant transformation, from the shifting dynamics of virality and the resurgence of outdoor advertising to the pervasive influence of AI and the rapid rise of quick commerce.

As we bid farewell to 2024, let’s reflect and understand what we’re taking with us in the year ahead.

Reality check: Consumer expectations

Rumi Ambastha, VP - Marketing at Mila Beauté, shared her biggest lesson: the myth of “build it and they will come.” She explained, “I used to believe that with solid products, great brand positioning, and attractive prices, customers would eventually come around. I learned the hard way that this isn’t true.”

With so much market clutter, a shy brand hoping to attract attention won’t succeed. Rumi noted, “A little showmanship, a gentle nudge, and a touch of flair are necessary to capture the fleeting attention of discerning consumers.”

Akhil Menon, AVP - Brand & Growth at True Elements (a clean-label food brand), shared a similar insight. While consumers desire chemical-free food, their purchasing habits are complex. “They want their food to be chemical-free. I understand the desire for clean ingredients. They’re vocal about it online. But when it comes to actual buying, they prioritize price over ingredient lists. I don’t blame them, but it’s still disappointing,” he said.

Purpose drives profit

In an era where trust is paramount, consumers demand more than products and promises—they seek meaningful purpose. Rishi Mathur, Chief Marketing Officer and Chief Distribution Officer, Alternate Channels at Canara HSBC Life Insurance, believes that embedding purpose into marketing is essential for sustainable growth. “By positioning life insurance as a partner in empowering dreams, rather than a transactional offering, we shift from selling policies to building futures,” he added.

PR: The new story engine

Abhishek Gupta, Chief Marketing Officer at Edelweiss Life Insurance, believes PR’s scope has expanded to creating authentic, shareable stories. He cited the example of Zomato’s CEO working alongside delivery partners. “This simple yet impactful act highlighted the challenges faced by frontline workers and became a viral moment that money couldn’t buy. Today, PR thrives at the intersection of media-generated and user-generated content. When executed authentically, it sparks organic conversations that resonate with audiences, showcasing the softer, human side of a brand,” he observed.

AI at the centerstage

AI has emerged as a powerful marketing tool to enhance effectiveness, impact, and efficiency. However, Rumi cautioned that we’ve only scratched the surface. “Some of us don’t understand it, some are envious, some are apathetic, and some are curious about its potential. Regardless of our stance, we can’t ignore it. It’s here, it’s spreading, and we must either embrace it or be consumed by it,” she concluded.