2024 Comms Bets: Lessons from Taylor

What a long, strange year it’s been. 

2023 was not the year most of us expected. But, by all measures, it was the year of Taylor Swift.  

Taylor tapped into something remarkable – transcending from girl next door to cultural phenomenon.

• Swifties paid up to $18,000 for tickets (and crashed Ticketmaster).

•  World leaders lobbied for her concert tour to boost their economies.

• Concertgoers caused a 2.3 magnitude “Shake It Off” Swift-quake in Seattle.

How?

Taylor created a narrative big enough everyone could fit in it. She’s a storyteller who lets people into her personal life, pulling back the curtain. Her autobiographical songs resonate across generations and geographies. 

She cracked some universal code: Authenticity. Personality. Relatability. Vulnerability. Honestly. Creating a sense of community and belonging. 

Wading into 2024, the lessons of Taylor Swift’s success extend beyond the music industry. They’re for everyone, including business leaders, brands, politicians and (yes, even) Presidents of top universities.

The year ahead

One thing’s for certain: 2024 isn’t going to be a straight line.

Next year holds too many unpredictable and overlapping wildcards: Economic uncertainty, the Presidential election, geopolitical tensions, disruptive technologies, and a polarized society.

That said, here’s where I’m focused.

1.  Navigating tricky waters

The shift from Shareholder Primacy to Stakeholder Capitalism was already in motion prepandemic. Increased stakeholder demands, the erosion of trust, and dis/misinformation significantly upped the ante. 

This year saw several gaffs (and casualties) due to ill-advised actions/statements and misreading the room. With tension high and rising (here at home and around the world), 2024 will place even greater pressures on businesses, leaders, and communicators. 

We need to brace for what next year holds. Leaders will be expected to navigate converging challenges and inflection points: Preparing for potential pitfalls, SCOTUS decisions, international conflicts, U.S. and global national elections, and the unexpected.

Communicators need a framework for how, when and where to respond – considering all audiences – focusing on values-based decisions, not empty promises and platitudes. Done well, it can set you apart; done poorly, it will fatally damage your brand.

2. From Service Provider to Strategic Partner 

A company’s reputation is 25% of its market value. Companies who think communicators only secure media placements and create intranet content significantly underestimate our value – which can harm reputations.  

Communications is far more effective further up the production line – in the strategy room, not packaging & handling. The past few years brought the boardroom to our doorstep. It helped elevate our authority and there’s a better understanding of what Communications brings to the table. It also expanded our mandate.

We wear a huge number of hats and – given our expertise and the breadth of our remit – Communicators are able to see around corners, dodge icebergs, connect dots, and identify untapped opportunities.

2024’s many pressing priorities make this even more essential. With increased responsibility, we must consistently step up to the plate as strategic partners focused on enabling business outcomes. As an industry, we must also continue to sharpen new skills, keep our finger on the pulse, and rise to the occasion.

3. Media fragmentation

Trust in institutions, including the media, is waning. Misinformation and disinformation is rampant. Where people get their news, who they trust, and how they consume information continues to splinter.

The media landscape is transforming at warp speed. Instead of turning to traditional news sources, many are self-selecting from social media sources. Plus, earned media is increasingly harder to come by, while owned and earned are growing much faster. 

To meet the moment, Communicators must think beyond the press release. Brands need a robust content strategy – tailored by audience and channel – grounded in a compelling/coherent narrative and powerful storytelling.

Emerging technologies, like AI, and data-driven insights will enable more personalized content – at scale. For this reason, and countless others, businesses that embrace and master new technologies will pull ahead.

4.  Age of the Influencer

As Taylor understands better than anyone, storytelling – sharing experience and knowledge – cuts through and engenders trust. Influencers can supercharge brands and deinfluencers can cut them off at the knees. 

I predict 2024 will continue to see a rise in content creators. More people will put themselves out there – building their personal and professional brands – and be rewarded for it.

Professionally, LinkedIn has cornered the market. Everyday creators can (still) organically build their brands, networks and businesses. Especially with X and Meta’s ongoing troubles and a super-competitive market, leaders, executives and anyone looking to stand out should lean in.

5. Agency disruption  

The traditional PR agency model is ripe for change. It’s been brewing for some time, but it’s coming to a head.   

Over the years, big agencies expanded services to keep up with clients, stave off ad agencies, and increase revenue. But it often impacted client value: Heavy overheads. Inefficient operating models. Siloed expertise. Expensive retainers.

The world changed. Our industry and profession is transforming. Plus, people are rethinking how and where they work and powerful (affordable) tools/technologies are leveling the playing field. 

For one reason or another, there are so many smart senior free agent Communicators currently in the market. They’re taking the reins on their careers and pondering a different support model. Many are starting their own consultancies and agencies, offering huge client benefit:

• Seasoned veterans offering direct, hands-on support.

• Tested leaders with vast and varied experience.

• Lower overhead and cost-effective pricing.

• Agility and flexibility to respond quickly.

Not every communicator has expertise in every area but, leveraging powerful networks, formal or project-specific “collectives” are popping up. Instead of designing a “one stop shop” agency model, fit-for-purpose collectives provide bespoke solutions tailored to specific client needs. 

Bringing it home

2024 promises to be another unprecedented year.

Unforeseen challenges and new opportunities will emerge, but we need to prepare for the unexpected. Brands must think two steps ahead: Anticipating what may come and developing strategic plans and playbooks.

As Taylor’s superstardom teaches us, narrative, personal storytelling and cultural fluency matter more than ever.

To successfully navigate 2024, smart brands will stay close to their stakeholders and true to their values.

But, for now…

Turn off, recharge and spend time with family and friends. Wishing you a wonderful and relaxing holiday.

Here’s to 2024!

Roberto

Munoz Communications is a strategic communications consultancy supporting businesses and C-Suite executives through times of inflection and transformation.

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