With technology and consumer behavior both evolving at an increasingly rapid pace, reaching your customers has never been so challenging—nor has it presented so many opportunities.
In the year 2024, adaptability and innovation will be the keys to marketing success. Let’s look at some of the major trends that will continue to reshape the advertising world in the coming year.
The use of artificial intelligence (AI) and machine-learning technologies in targeted advertising will expand. Companies will take advantage of machine-learning algorithms to analyze their customers’ behaviors, then use that data to create more precise, more effective targeting strategies.
When visiting websites, consumers will increasingly encounter AI-powered chatbots and virtual assistants that answer their questions and guide purchasing decisions in real-time. These AI-driven conversations will result in increased customer satisfaction and conversions.
AI will also be employed in creating more accurate consumer demand forecasts and optimizing advertising campaigns.
With the new capabilities offered by AI and machine learning, the importance of automation and optimization of ad campaigns will increase. With automation, marketers can reduce the costs of managing campaigns while focusing on advertising strategy. Campaign optimization also helps improve conversions while reducing cost per click.
High conversion rates, naturally, will remain a top priority, so marketers will concentrate on making their websites and social media pages more appealing and user-friendly.
Integrating virtual reality (VR) and augmented reality (AR) into campaigns and various brand touchpoints will be a growing marketing trend in 2024. Advancements in these technologies, along with increasing accessibility to VR and AR hardware, will enable marketers to create immersive brand experiences that will lead to higher conversion rates. Real estate companies (virtual home tours), auto dealerships (virtual showrooms), home goods brands (AR apps that enable consumers to visualize furniture, appliances, and more in their homes), and brands from many other industries will incorporate VR and AR technologies into their campaigns.
Consumers will pay closer attention to the values behind the brand, not just the products or services it represents. Things like environmental impact and social responsibility will be increasingly weighed when deciding brand loyalty. Climate change and social injustice are two of the major factors that will encourage some companies to promote their sustainability and ethical practices more actively. As Jennifer Gaier of Forbes Councils puts it: “[M]arketing in 2024 is as much about values as it is about value.”
Video marketing isn’t new, but with the emergence of platforms such as TikTok, YouTube Shorts, and similar short-form video platforms, it will become an increasingly popular advertising tool. Video is simply more appealing than banner and text ads, and social platforms such as Facebook and Instagram are promoting the use of video in advertising more and more often.
Research shows that 70 percent of customers use Instagram to plan their next purchase, and the TikTok audience is approaching two billion people. Knowing this, companies will allot a greater portion of their ad budgets for creating short-form videos to launch products, produce inspiring customer testimonials, and promote their brand in other user-friendly ways.
In 2024, concerns about data privacy will force marketers to rethink their usage of data in targeted advertising. To ensure user privacy protection, more marketers will have to rely on anonymous data. Why? When Apple released its new version of iOS – 14.5, all applications from the App Store were banned from direct access to IDFA (advertising identifier). Thus, users began choosing whether to provide their data for advertising systems. Not surprisingly, many began choosing not to, due to privacy concerns. Without this personalized data, attracting customers becomes a lot more challenging and expensive, and will force marketers to seek other solutions.
For marketers, 2024 will present unprecedented opportunities and challenges. More than ever, running a business means understanding how to incorporate the latest strategies to benefit your company. If you need help determining which new technologies will best serve you, contact AcrobatAnt today. We have an experienced team with the resources needed to guide your company in 2024 and beyond.
Sources: Forbes.com and LinkedIn.com/pulse