Ideas
October 17, 2024

What Matters Most: Top Trends from the 2024 Forbes CMO Summit

At The 20th Annual Forbes CMO Summit, the world’s top marketers gathered to discuss “What Matters Most.” Amid the debates and discussions, one thing was clear: Traditional models no longer apply, and a new playbook has emerged. From the continued rise of subcultures to balancing brand with performance, and the role of creators in reshaping how brands and agencies must work—read our top takeaways on what’s shaping the future of marketing.

GALE

A Business Agency

The only constant in marketing is change. As we navigate this evolving landscape, one question looms large: What truly matters? At this year’s Forbes CMO Summit in Aspen, top marketing leaders gathered to address that very question. Amid the debates and discussions, one thing is clear—traditional models no longer apply, and a new playbook has emerged. Below are the key takeaways that are shaping the future of marketing: 

The Continued Rise of Subcultures

The mass-market approach to marketing is becoming obsolete. Subcultures, often seen as niche, are now driving mainstream culture, offering brands new opportunities to thrive. But connecting with these communities requires more than just showing up in their space; it demands co-creation with creators who authentically belong in those spaces, and giving them the creative freedom necessary to engage their audience. The question brands must ask is no longer “how much freedom should we give creators?” but “how do we empower them to co-create with us?” Brands that embrace this shift and allow creators to bring authenticity to subcultures will lead the way. 

“You only have to look as far as country music to see how subcultures shape mainstream culture.” 

The False God of Perfect Measurement 

One of the summit’s most thought-provoking conversations centered on measurement. The industry has been too focused on chasing perfect metrics across individual channels—a “false god” of marketing—at the expense of what truly matters: business outcomes. As one speaker summarized, if marketing objectives aren’t tied to business growth, you’re burning money. Success isn’t just about the immediate performance of a campaign but also about long-term brand equity and how marketing drives the business forward. 

“You can’t buy your way to growth. Brand breaks the calculus of lower funnel media.” 

Brand vs. Performance and False Dichotomies
The ongoing debate around brand vs. performance was another hot topic, with a call for marketers to move past the mindset of separating the two. The truth is that brand and performance are two sides of the same coin. In a world where every dollar matters, the line between them must blur so they can work in harmony. Integration, not separation, is the future. This topic sparked a broader conversation around false dichotomies: brand vs. performance, creator vs. creative, CMO vs. CFO. As one attendee noted, we often “break ourselves apart from the inside” by overanalyzing and dividing the discipline of marketing. It’s time to recognize these forces aren’t in competition – they’re interconnected.

“Brand is like food—you can survive without it in the short-term, but without it, you’ll eventually die.”

Silos Must Collapse  
To better serve customers, brands must deliver a seamless, frictionless experience across every touchpoint. The evolving definition of "brand" now extends beyond just the logo or product—it’s embodied in every interaction, from customer service to sales. Throughout the summit, marketers discussed how they’re breaking down internal silos by aligning marketing with sales, customer service, and beyond. Likewise, the rise of creators—who act as strategists, producers, and distributors— are collapsing the traditional creative roles within agencies and brands. These creators raise the bar, setting a faster pace for content creation and distribution, and putting pressure on brands to keep up.

“When I see a website that doesn’t match the other touchpoints of a brand, I often joke that the brand’s org structure is showing.”

Doing More With Less: The Misunderstood Marketer

In today’s economic landscape, marketers are being asked to do more with less. This pressure is compounded by a fundamental misunderstanding of what marketers actually do. Unlike the clearly defined roles of the CEO or CFO, there is no consistent definition of a CMO’s role, leading to undefined or unrealistic expectations. Adding to this challenge is the pressure to chase every new marketing trend, often resulting in initiatives that don’t drive long-term value. CMOs must focus on intentionality, choosing strategies that align with business objectives. As platforms and consumer touchpoints continue to grow, the key to success lies in doing less but with greater focus, and eliminating random acts of marketing. 

“We’re constantly asked to do more with less. We have to be clear on the container of what we do as marketers and communicate that clearly to our C-Suite.”

Closing Thoughts

In a marketing world where silos are collapsing, subcultures are gaining importance, and the line between brand and performance is fading, the brands that adapt are the ones that succeed. The future of marketing isn’t about sticking to rigid frameworks—it’s about evolving with the changes and embracing new ways of thinking, creating, and connecting.