MarTech industry predictions

Erik Huberman, CEO of Hawke Media, delves into consumer marketing trends. In 2022 and 2023, the focus was on profitability, but now in 2024, businesses are prioritizing growth and turning to proven solutions. Today's consumer values a track record of success and martech companies that are already established are in a strong position to succeed in 2024. Today, Erik discusses his predictions for the martech industry.

About the speaker

Erik Huberman

Hawke Media

Erik is CEO of Hawke Media

Part 12024 Consumer Marketing Trends
Part 2 MarTech industry predictions

Show Notes

02:00

Martech trends in 2024

We might experience a slowdown in the rush towards AI within the next year or so, as the market becomes oversaturated. This could prompt the exploration of new marketing strategies beyond AI, particularly in improving monetization for publisher content.
05:01

The challenges of monetizing publisher content

Despite the value of publisher content and data, low ad click-through rates mean poor ROI for brands. Consequently, brands are shifting budgets back to platforms like Google, Meta, and Bing for better audience reach.
07:10

Growth in martech in 2024

Established companies with proven solutions are likely to see growth as businesses prioritize reliable options. However, newer companies in the martech space may face challenges as businesses opt for tried-and-true options over experimentation.
08:24

Challenges for AI startups in martech

Customers value proven success and case studies, posing a challenge for new AI companies without solid proof points to gain traction. Nonetheless, startups showcasing tangible results and value have the potential to stand out and thrive in the long term.
09:56

Outlook for the martech industry in 2024

For martech companies that already have traction, 2024 could be a promising year, as businesses seem more open to growth and investment. With no significant new disruptions, many are regaining confidence and are poised to leverage martech tools for advancement.
11:24

Adapting to data privacy changes and a cookieless landscape

Despite shifts in data privacy regulations and technologies like cookie blocking, marketers are expected to adapt quickly to new tracking methods. Marketers must be prepared to adjust their strategies and embrace new tactics to remain competitive and win consumer attention.
13:00

Investment criteria for martech VC funding

Hawke seeks out businesses that can revolutionize marketing practices rather than quick-fix solutions. They prioritize tools that address significant marketing challenges and offer simple yet impactful solutions with the potential for substantial growth

Quotes

"Average media spend continues to increase on Google and Meta across all brands in 2024. It's a movement back to the core businesses, and not looking for that new shiny object." - Erik Huberman
"Whereas people have been apprehensive about investing in software for the past few years, people are going to look at proven martech solutions and jump into them this year." - Erik Huberman
"If you can prove yourself out and have a good business, you're going to end up succeeding through this time, which means you're going to be way ahead of everything else." - Erik Huberman
"As long as they cut off cookies for everyone, we're all going to have to adapt and market differently. That's the game. It's about winning attention and getting that consumer, so you must pay attention to how things shift." - Erik Huberman
"We encounter too many martech ventures that arent going to be million or billion-dollar companies. We're on the lookout for game-changers, not just quick fixes. It's about transforming marketing and solving real issues." - Erik Huberman