In the rapidly evolving world of marketing and technology, the nonprofit sector often finds itself borrowing insights and strategies from the for-profit world. At Charity Spring, we're not just observers of these trends; we're actively integrating them into our work. With the majority of resources, talent, and innovations emerging from the for-profit world, it makes perfect sense to draw inspiration from these sectors to inform our strategies and enhance our impact.
A shining example of this is the latest findings from the 2024 H2 Market Report, a new survey conducted by the advertising technology platform Mediaocean. This report offers a glimpse into how marketers are leveraging AI, Connected TV (CTV), and other emerging technologies to stay ahead in a competitive market.
AI in Data Analysis and Market Research
The survey of over 1,200 marketers reveals a significant trend: data analysis (45%) and market research (40%) top the list of AI use cases. While AI content creation tools often grab the headlines, it's the practical application of AI in these areas that is capturing marketers' attention. By using AI to analyze data and conduct market research, marketers can optimize their campaigns, gain deeper insights into consumer behavior, and make more informed decisions.
Karsten Weide, Principal and Chief Analyst for W Media Research, emphasized during a roundtable discussion about the report that marketers are focusing on AI’s ability to enhance decision-making processes rather than just generating content. “Using generative AI for automated content creation, such as dynamic creative optimization, only comes after analytics,” Weide noted.
CTV: The Leading Consumer Interest
Interestingly, while AI continues to be a significant trend, Connected TV (CTV) has now eclipsed AI among consumer interests. The report shows that 56% of marketers identified CTV as a top consumer trend, just edging out AI at 55%. Deborah Wahl, former CMO of General Motors, highlighted the transformative potential of CTV, reflecting on her own experiences of reallocating marketing spend to focus on this medium. "It’s incredible watching the growth of the CTV market and where that can go," she said, emphasizing the critical role CTV plays in reaching consumers.
What This Means for Charity Spring
At Charity Spring, we recognize the importance of staying at the forefront of these trends. The insights from the Mediaocean report underscore the growing importance of AI in data analysis and market research—areas where nonprofits can significantly benefit, if you have enough data to analyze (another subject altogether). By leveraging AI in these domains, we can better understand our audiences, optimize our outreach efforts, and ultimately, drive greater impact.
Moreover, the rise of CTV as a dominant consumer interest presents new opportunities for nonprofits to engage with their audiences in innovative ways. As more consumers shift towards CTV, nonprofits that are able may want to consider how to incorporate this medium into their marketing strategies to ensure they remain relevant and visible.
The for-profit world and academic research papers continue to be a rich source of insights and innovations that nonprofits like Charity Spring can leverage to enhance their work. As we move forward, Charity Spring is committed to integrating these insights into our strategies, ensuring that we remain at the cutting edge of nonprofit marketing and fundraising.