DMEXCO survey 2024: Growth expected in online marketing
Will online marketing remain the growth engine in the advertising market in 2024 or is the mood turning in the face of multiple crises? A recent survey conducted by the market research company Civey on behalf of DMEXCO in Germany shows: The mood in German marketing and advertising departments is mixed, yet a clear trend is emerging.
According to the survey, almost half (46%) of the 350 decision-makers surveyed expect the online advertising market to grow - albeit to varying degrees. 34 percent expect slight growth of up to five percent. Around seven percent of respondents anticipate growth of up to ten percent, while a further six percent expect market growth to exceed this mark.
However, there are also more skeptical forecasts: one in five predicts stagnation, while around one in four anticipates a drop in the online advertising balance. Five percent even see the industry plummeting by more than ten percent. One in ten are currently unable to assess the situation.
According to Thomas Mosch, Director Conference at DMEXCO, the survey results provide important impetus for the next DMEXCO: "The results show the heterogeneous mood in the market and the differentiated expectations. However, the majority are starting the new year optimistically, relying on advertisers' increasing willingness to invest in online marketing."
Around one in two experts forecast budget increases, particularly in the areas of social media (52.9%) and search engine marketing (46.5%). Around a fifth of respondents explicitly classify influencer marketing as the fastest-growing segment. Collaboration with influencers is playing an increasingly important role, especially for the 30 to 39-year-olds surveyed: 26% would invest more here. In terms of gender distribution, one figure stands out: 31% of female experts would plan to invest more in influencer marketing - compared to just 9% of men.
Top trends AI, sustainability and social responsibility
Artificial intelligence will remain the top trend in digital marketing in 2024. Sustainability and social responsibility are in second place and social commerce in third place. What is striking is the different assessment of the topic of mixed reality among the age groups of respondents. 62% of 18 to 29-year-olds rate VR, AR and other mixed reality applications as highly relevant for online marketing - a figure that is many times higher than the average across all age groups (11.3%).
"Artificial intelligence and sustainability are two megatrends that will shape not only our industry but society as a whole in 2024. AI is about business models, potential applications along the value chain and how we take people with us in this transformation. Sustainability is increasingly becoming a hard currency this year and is gaining a stronger foothold in the digital economy. We will help shape both developments in the BVDW and at DMEXCO," explains Carsten Rasner, Managing Director of the German Digital Economy Association (BVDW).
According to Thomas Mosch, the current study shows an increasingly heterogeneous mood in the industry compared to previous surveys. Fortunately, however, optimism prevails: "Effective marketing is crucial for navigating dynamic markets. Last year, we tended to confirm the suitability of artificial intelligence for everyday use in marketing. At DMEXCO 2024, we will see many concrete projects that demonstrate how productive and disruptive AI can actually be," concludes Mosch.
On behalf of DMEXCO, the market research company Civey surveyed a total of 350 marketing and advertising professionals online between November 23, 2023 and January 2, 2024.
A deep dive into the results can be found in the free whitepaper.
