As the year draws to a close, company leaders across industries are taking stock of the past year to prepare for what’s on the horizon of the new year. At Kite Hill PR, we keep a finger on the pulse of the next big trends and ideas. Read on as our practice leads share their insights, predictions and top takeaways for communicators as we navigate the promising landscape of media and advertising, fintech, climate tech and more in 2024.
TV Predictions: Viewership habits are shifting. Linear TV eyeballs will remain a factor, as CTV continues to grow. For traditional providers, streaming players, and burgeoning platforms, continue to push the boundaries of innovation to deliver compelling content. For advertisers, lean into local, particularly in the leadup to the 2024 presidential election.
Comms Takeaways: For those working with content providers, highlighting your company’s innovative tech and measurement solutions will be key. Consider how your company is leveraging its owned data; are there ways your company can better inform the industry on changes in consumer behaviors? That will, in turn, inform players working adjacently in the space, like advertisers, of shifting habits and set your company apart as a guiding force in the industry. Speaking of those working adjacently in the space, the same rules apply for communicators. There will be noise and competition; the best way to stand out is to harness meaningful insights and pay that knowledge forward to the rest of the industry.
— Mackenzie Sikora, Senior Account Director
Fintech Predictions: Evolving regulatory requirements will mean even more attention on data privacy and safety. This paired with implementation of new technologies like generative AI means swift changes in process — from how companies engage with consumers, to how they capture data — will lead to better business outcomes. Specific areas of fintech such as payments and insurtech will continue to evolve in 2024.
Comms Takeaways: Keep an eye on evolving regulatory requirements; develop messaging that addresses data security and how consumers’ information can be protected. Help your clients navigate the dense market by creating a narrative that helps them stand out. Consider telling a story about the evolution of their area of fintech — payments, insurtech, digital banking, etc. — and how the industry changed to ultimately benefited consumers.
— Charlyne H. McWilliams, Senior Vice President
Climate Tech Predictions: The emphasis on climate tech development is bigger now more than ever, and even with slower investment growth over the last year, 2024 will likely see more uptick in available funding. With COP28 agreements locked, we'll also see the continued commitments from the public sector in an effort to ensure we reach the goal of net zero emissions by 2050. Of course, the conversation will be amplified as the elections near.
Comms Takeaways: There must be a greater emphasis on transparent communications. One key theme from panelists at Kite Hill PR’s Climate Week webinar this year was that as business leaders continue to emphasize ESG efforts, transparency in their communications must be a priority. Gone are the days when companies can skirt around the details of their climate-focused commitments – consumers demand more now. 2024 is the year we’ll see companies held accountable not only for their sustainability practices but also for how they’re communicating goals and progress. Leveraging PR strategies that focus on long-term plans and transparent messaging is the key to success.
— Emma Wolfe, Vice President
Advertising, Marketing, Retail Media Predictions: We will see a convergence of marketing services, as businesses become more savvy at breaking down silos in their organizations to focus more holistically on how to achieve big business objectives. AI adoption will be a top focus and become more of a priority, particularly as robust policies develop. Retail media will remain a big growth area, projected to grow at the strongest rate within the digital ecosystem, and expected to increase 8.3% in total spend by 2024.
Comms Takeaways: Communications will need to adapt to these changes in several ways. With converged marketing solutions, communications professionals will need to think outside the box and more innovatively about channels, tailored messages and delivery of those messages. With AI adoption, communications professionals will need to advance skill sets and become experts at using AI tools for content generation and instituting quality control measures.
— Gina Preoteasa, EVP, Client Services
Media & Entertainment Predictions: Unfolding privacy regulations and an influx of new, AI-driven tools will run rampant through Hollywood. Across the media, as AI tools get more sophisticated, we can expect more adoption and transparency.
Comms Takeaways: It is no longer a question if a business could benefit from adopting AI but formalizing the usage. Transparency is king. Be proactive and determine the right communications and messaging to share with your audience, clients and stakeholders.
— Sammy Jordan, Senior Account Director
Our own Tiffany Guarnaccia, founder and CEO, also shares her top 3 predictions for the PR industry at large. Namely: continued adoption and evolution of AI, a shift toward culture communications, and the rise of PR tech tools. At Kite Hill PR, we’re evaluating our own approach to embrace these shifting trends and, more importantly, evolve with them.
Interested in getting in touch to discuss how we can best help you in 2024? Contact us here.