The field of marketing is developing quickly; new technologies are being introduced virtually every week, and customer behavior is always shifting. So, from the perspective of marketing and communication, how does the upcoming year appear to be? I’m placing bets on a number of trends that I think will influence 2024.
AI: The hot cake
A 2023 AI Marketing Benchmark Report by Influencer Marketing Hub has shown that over 60% of marketers have used AI in their marketing activities, and more than 40% have used it for content production.
Expect more experimentation in AI marketing automation, collaboration, and bold yet responsible initiatives. Giants like Google, Facebook, and Adobe heavily investing in AI set the tone for the marketing industry, incorporating a mix of bots, voice, and predictive analytics.
Hyper-personalization: The basics
We’re going to see hyper-personalization everywhere. According to a Deloitte analysis on hyper-personalization, 80% of consumers are more likely to make a purchase from a company that provides individualized advertising, and 90% of consumers find it appealing.
It will be essential to analyze previous customer data, interaction trends, platform recommendations, browsing behavior, and to curate highly tailored and recommendable offers and content.
More value for experience and sustainability combined with a tailored content approach will work for Gen-Z. Make sure that data gathering procedures are transparent, have campaign consent, and convey them clearly. Check copyright viewpoints with the brand and your legal staff as well.
CGI outdoor takeover: A newcomer to the scene
These days, CGI videos are all the rage on social media. A good example is the Maybelline mascara advertisement from the UK. Huge eyelashes on a metro car and an outdoor bus colliding with a big brush installation were captured in a viral video. As it happened, it was CGI magic.
Many FMCG, fashion, automotive, and entertainment brands have tried and will continue to do so; nevertheless, in the upcoming year, only those who present novel and intriguing perspectives will be able to make a lasting impression on marketing decks.
Influencer Marketing: Second Season
Consumers are looking for more authenticity and validation from brand influencers as influencer marketing has grown. In the future, micro- and nano-influencers with very active audiences will receive more attention.
To filter profitable niches and target particular audience segments for more genuine interactions, businesses will need to take a more data-driven strategy.
Watch video: The monarch
Digital videos are the most expensive medium after movies and are continually getting more. Videos will rule the internet, with formats and durations adapting to the demands of brands and the habits of viewers. In the upcoming years, platforms will be dominated by both long-form and short-form formats, which will become a major trend. In order to create more immersive video campaigns, marketers should prioritize mobile-first strategies, use 16:9 formats, and add more digital reality surrounding content.
For B2C and B2B marketing, viewers will respond more deeply to shareable, captivating, and engaging content, such as live streaming and BTS.
Content created by users: The underappreciated
User-generated content (UGC) is a treasure trove of social validation and interaction. Sincere client endorsements gain credibility and engender repeat business. UGC content is a creative canvas that brands should explore with abandon since its popularity will only grow in the upcoming year.
Resuming business through social commerce
The focus of social media networks is changing to include e-commerce and entertainment. With an estimated 4.5 billion social media users worldwide, consumers’ buying habits are changing to prioritize integrated social experiences over individual social media channels.
The vibrant creative economy is directly responsible for this. According to web design company Scandibweb, by 2026, the global industry for social commerce would be valued US $1.95 trillion. Brands have a fantastic potential to profit from this.
Top platforms will add more features to their retail offerings in 2024, improving immersive experiences and product discovery. Increased conversion rates and new client acquisition will result from this change. Early adopters of this trend will build a loyal following of interested customers.
The upcoming year seems difficult yet full with possibilities. Brand custodians will build closer, more robust relationships with their customers as they integrate technology with a human-centric approach. Businesses need to be able to face their fears, embrace change, be open to trying new things, be able to work through a variety of setbacks, “challenge the now,” and realize their full potential by 2024.
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