Assignment

Jun 03, 2024

ClickZ Digest

WHAT WE ARE READING

MARTECH

AI is a Threat to Some Marketing Agencies, an Opportunity For Others

Marketing agencies may fear AI will make them extinct, but there are reasons to believe some will be winners in this new world. AI will soon be able to handle up to 95% of the work currently done by marketing agencies, creative professionals and specialists, according to Sam Altman, CEO of OpenAI. If his prediction holds true, are marketing agencies headed for an extinction event in which some survive but many are wiped out, like the dinosaurs at the end of the Cretaceous period?

MARKETING TECH NEWS

Marketing budgets have dropped to 7.7% of overall company revenue in 2024

Average marketing budgets have fallen to 7.7% of overall company revenue, down from 9.1% in 2023, according to a Gartner survey of 395 CMOs and marketing leaders. This is according to the annual Gartner 2024 CMO Spend Survey, which was conducted from February to March 2024. Survey respondents were CMOs and marketing leaders in North America and Northern and Western Europe across 10 different industries, company sizes and revenue, with the vast majority of respondents reporting median annual revenue of over $5.3 billion. Gartner experts revealed the findings today during the Gartner Marketing Symposium/Xpo, which is taking place in London.

DIGIDAY

How Klarna is Using AI for Cost Savings, Changing ‘Extremely frustrating’ Creative Processes

Klarna, the buy now and pay later fintech company, believes that using AI is already helping it with cost savings in marketing. The company estimates that using AI in marketing has accounted for a 37% cost savings of roughly $10 million per year. Klarna has started to use AI for ideation, image creation and translation efforts to create more personalized campaigns for consumers across its 45 markets.

ADWEEK

Starbucks Refreshers—Cultural Appropriation or Appreciation?

At the start of Asian American Pacific Islander Heritage Month, Starbucks announced its summer release of new fruit drinks: bright blue Starbucks Refreshers with raspberry-flavored “pearls” at the bottom of the cup. The brand says it drew “inspiration from drinks around the world, especially East Asian beverages with boba or pearls that have been popular for decades.” And Starbucks isn’t the first brand to draw inspiration from boba tea. Sonic and Dunkin’ both introduced boba tea, calling them “bursting bubbles” and “popping bubbles,” respectively.

MARKETING BREW

Inside the Company Placing Ads on Unbranded Delivery Trucks

Chances are high that you’ve seen at least one truck with an ad on the side and assumed the truck was carrying that brand’s products. Chances are also high that wasn’t the case. Across North America, last-mile delivery trucks in major cities carrying everything from lobsters to appliances are advertising on behalf of brands like Glossier, Crown Affair, Jolie, and Olipop with the help of out-of-home advertising companies like Adgile.

TOP VOICES

INSIGHT FROM INNOVATION FOR MARKETERS

A CMO's Guide To French Tech Innovation

Soon corporate marketers and their agencies will gather in the south of France for the annual Cannes Lions International Festival of Creativity. While the event is world renowned for honoring creative excellence, the increasing influence of MarTech & AdTech is growing each year. KSV has compiled a list of the most promising startups in marketing and advertising based in France or with a significant presence to help you prepare for your trip. Vive la French Tech! 🇫🇷

WHAT WE ARE LISTENING TO

MARKETING MADE SIMPLE

The Right Way to Woo Your Customers (And Keep Them Coming Back For More)

Most people wouldn't accept a marriage proposal on the first date. They want to get to know the person before making a commitment. In the same way, customers don't like it when a business quickly tries to sell something right after meeting them. And when customers recoil from a hasty sales pitch, the business loses an opportunity they may never get back. So when is the right time to make a sales pitch so that your customers feel comfortable and keep coming back?

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