Global Social Media Users Reached 5.07 Billion
7.7%
Gartner's 2024 CMO Survey indicates a notable decrease in marketing budgets, now at 7.7% of overall company revenue from 9.1% in 2023. Despite financial constraints, 64% of CMOs see AI as a solution to budget limitations. Paid media investments rose to 27.9%, while digital channels commanded 57.1% of budgets, with search at 13.6%, social advertising at 12.2%, and digital display advertising at 10.7%.
5.07B
The rapid evolution of social media is evident as it continues to integrate into daily routines worldwide. With over 5.07 billion users in 2024, representing 62.6% of the global population, platforms like Facebook and YouTube lead in monthly active users. Daily time spent on social media averages 143 minutes globally, though varies by country. Marketers must adapt strategies to leverage these platforms effectively amidst shifting demographics and preferences.
21.2%
New research shows that generative AI plays a pivotal role in B2C marketing. A study from Harvard Business School found that using this AI can make tasks 21.2% faster and increase revenue by 40%. Additionally, many US marketers believe that AI will change how they analyze market data. Special AI tools like DeepSights provide personalized advice based on a company's own data, helping them make better decisions and beat their competition.
5.9B
The global telecom industry, valued at $3,041.8 billion in 2023, is forecasted to reach $3,818.42 billion by 2027, with a compound annual growth rate (CAGR) of 5.8%. Smartphone subscriptions soared to 6.7 billion in 2023, projected to exceed 7.8 billion by 2028. Furthermore, the 5G network, expected to reach 5.9 billion subscriptions by 2027, showcases a rapid market adoption.
$10M
Klarna, a top BNPL provider, saved up to US$10 million annually by embracing Gen AI in marketing, cutting image production costs by US$6 million and external marketing supplier costs by US$4 million. Notably, 37% of these savings were attributed to AI. CEO Sebastian Siemiatkowski noted that 87% of Klarna's workforce actively uses Gen AI tools, reflecting widespread adoption in marketing operations, enhancing efficiency and responsiveness to customer preferences.
114,000
WPP's integration of Anthropic's Claude AI models into its WPP Open operating system, facilitated through Amazon Bedrock, an offering from Amazon Web Services, marks a significant step in its generative AI transformation. The partnership enables 114,000 employees to leverage Claude for tasks such as analyzing briefs and content creation, supporting WPP's strategic push towards AI adoption in reshaping its marketing services. WPP's commitment underscores the industry's growing embrace of AI to enhance productivity and maintain competitiveness.
11%
U.S. Bank's latest campaign underscores the bank's commitment to innovation, with AI driving an 11% reduction in marketing spend. Leveraging Supernatural AI's technology to create audience models for a national campaign, the marketing efforts swiftly tailored messaging across diverse segments, reflecting U.S. Bank's dedication to empowering clients and employees under new CMO Lacorazza. The speed-to-market success underscores AI's pivotal role in driving impactful marketing strategies.