2021 Global Marketing Trends: Constants Amid Flux

At a time when the need for human connection has taken centre stage, Deloitte’s annual Global Marketing Trends report identifies seven essential themes that can help organisations navigate the path forward.

Eight months into a global pandemic, the relationships between businesses and their customers have changed significantly – and perhaps forever. Customers are paying close attention to the way organisations respond to the crisis and often reward businesses that can meet stakeholders’ most pressing needs. Meanwhile, executives are focused on improving efficiency and increasing productivity, even as their organisations are making transformational investments in digital solutions and innovating to address market demand.

These are some of the findings from Deloitte’s 2021 Global Marketing Trends research, an annual report exploring seven themes that can guide business leaders as they seek to better serve customers, employees, and society. The report draws on two surveys – one of 2,447 consumers, the other of 405 C-suite leaders, including CMOs, CEOs, CIOs, CFOs, COOs, and chief human resource officers – and offers realworld examples of organisations that exemplify the trends.

In the coming months, we’ll take a closer look at the following Global Marketing Trends for 2021:

Purpose. Since the start of the pandemic, many companies have relied on purpose – which defines why an organisation exists and whom it serves – to guide their response to the crisis. Indeed, brands whose actions align with their purpose may be better positioned to build lasting relationships and to react quickly and authentically in times of uncertainty. For example, during the first months of the crisis, some financial institutions paused overdraft fees and deferred loan payments, while shoe companies donated thousands of pairs of shoes to health care workers. Customers are taking note: Nearly one in four respondents to Deloitte’s survey say such actions have improved their perceptions of a brand, and one in five say they have changed their buying preferences in favour of a brand. As the research illustrates, companies that prioritise purpose may be uniquely positioned to navigate unprecedented change.

Agility. Today, more companies are implementing agile ways of working, relying on cross-functional teams and an iterative approach that allows them to react quickly to marketplace changes. This capability has been critical during the pandemic, which catalysed a rapid shift to digital channels. And on those channels, experience matters: 66% of customers agree that the pandemic made them more appreciative of well-designed technology. Sixty-three percent of respondents say they will continue to use digital technologies more often even after the pandemic subsides. In this environment, businesses can either pivot to meet customers where they are or risk losing relevance. Now more than ever, it is important for leaders to accelerate their investments in the teams, tools, and technologies that empower agility.

Human experience. In recent years, as technology has enabled ever more efficient business operations, companies increasingly have run the risk of compromising the personal interactions that build human relationships. Now, during a global pandemic, our universal need for connection is even more apparent; 56% of people want a more “human” experience from virtual environments. As people turn to digital solutions to deepen connection, they are gravitating toward companies that elevate the human experience – while businesses face greater pressure to optimise efficiency and mitigate risk. So, how can companies strike a balance between organisational demands for productivity and stakeholders’ need for connection? They can deepen their understanding of customers and employees, reflect the values of those they serve, and create solutions that connect people to one another.

Trust. Brands that don’t deliver on their promises can see an erosion of stakeholder trust – and, eventually, a hit to the bottom line. Among consumers Deloitte surveyed, 66% recall a time when a business acted in its own interest – by raising prices on essential items, for example – and one in four respondents strongly agree that such actions caused them to walk away from the company in question. By segmenting customers based on values, rather than more quantitative factors such as demographics, marketers can build stronger relationships and more effectively impact customer behaviour. They can’t do it alone, however. Developing trust requires cross-functional teams and collaboration across the C-suite to help ensure that every facet of the business – from operations and human resources to IT and the finance function – is aligned on trust-related goals and KPIs.

Participation. Consumers are interacting with brands more than ever before, whether by writing online reviews, posting content about a company on social media, or co-creating new products or original content with a business. Among the consumers Deloitte surveyed, 56% engaged in at least one form of digital interaction with brands over the past year. Given this level of participation, organisations have an opportunity to connect even more deeply with people – by understanding who is interacting with the brand, what channels they are using most, and, perhaps most important, why they are participating. Overwhelmingly, people say they are most motivated to engage when they feel that doing so will help others.

Fusion. Companies increasingly are partnering across industry lines to build ecosystems that can meet customer needs more holistically. In the past several months, collaboration has become even more critical, as companies rely on innovative partnerships to adapt to a rapidly changing business environment. One bank, for example, partnered with a wellness provider to foster public awareness of mental health issues and offer resources for addressing the anxiety associated with financial problems. Even after the pandemic is over, 78% of executives say their companies will retain new partnerships to some degree.

Talent. Over the past few years, the role of marketing in organisations has undergone a sea change, with chief marketers fielding responsibility for everything from customer experience to digital strategy. Simultaneously, talent models across industries have shifted, as technologies such as AI have become increasingly advanced and as more people work in the gig economy rather than in traditional 9-to-5 jobs. Marketers can create a competitive advantage by incorporating four talent-related shifts into their strategy: turning toward an in-house creative model, leveraging contract workers for more tactical roles, relying on AI to automate redundant tasks, and upskilling employees through in-house marketing universities. Of course, CMOs can’t do this alone; capitalising on these trends involves commitment and backing from the entire C-suite.

Collectively, the 2021 global marketing trends offer inspiration for executives looking to break out of today’s cautious mindset to more holistically – and authentically – meet human needs. These trends may offer a road map for organisations to help their customers, workforce, and society navigate the path forward.