Marketing Trends to Watch Out For in 2024 – Staying Ahead of the Curve
With new technologies or consumer habits changing quickly, businesses must stay ahead of their game in order to stay profitable and compete successfully in today’s economy. This holds especially true for marketers.
To stay ahead, it is crucial to understand the marketing trends that will shape your strategy for 2024. Here are a few essentials: XR Marketing (VR, AR):
AI-Driven Personalization
Marketing today can be more competitive than ever, as consumers see between 4,000-10,000 ads daily. AI-powered personalization enables marketers to target customers directly with messages tailored specifically for them and their interests and needs.
Faced with increasing interest for voice-activated devices, brands will continue to tailor content for search engines such as Google and Amazon Alexa and use personalized video marketing more frequently.
Brands will continue to prioritize providing customers with an outstanding end-to-end customer experience, from making sure support representatives have access to tools for more human interactions despite AI chatbots, to crafting clear value propositions that prioritize profitability and sustainable growth over vanity metrics – an increasingly important consideration as consumers crave products with more authenticity and purpose.
Streaming & Connected TV Marketing
CTV (Connected TV) advertising has rapidly evolved as marketers search for more targeted and cost-effective means of reaching consumers. Not only is it cost-effective alternative to social media or paid search ads, CTV offers an engaging format which can be tracked for ROI purposes.
An increasing number of consumers are opting to ditch traditional cable and satellite services in favor of streaming platforms like Netflix or Amazon Prime Video, providing access to their favorite shows and movies on various devices such as Smart TVs, Roku devices and gaming consoles.
Streaming and CTV advertising provide brands with many unique marketing opportunities, from hyper-targeted ads based on demographics and interests to picture-in-picture (PiP) ads that allow viewers to continue watching content while still being exposed to your message. Leveraging first party data available from these platforms, advertisers can select targeted audiences based on region/zip code/DMA, interest or even viewing habits.
Data Privacy & Data Protection
Data privacy and protection is a trend with far-reaching implications for companies. Consumers now demand transparency and control over how their personal information is collected and utilized, making this an especially critical consideration when conducting business transactions online.
Businesses will need to carefully consider their data collection policies and practices so as to comply with regulations while building trust with customers and stakeholders, failing which may result in fines, lawsuits or even the closure of business operations.
TikTok recently unveiled plans to relocate its European servers in order to comply with GDPR, while Meta unveiled a subscription-based monetization model for their ad-free services in Europe allowing users to opt out of advertisements and tracking by paying an annual subscription fee.
Further, state legislatures were active in 2023, passing several comprehensive data privacy laws related to student personal financial information, digital credit reports, and biometric data. Furthermore, civil litigation continued to play an active role in areas like data breaches, consumer privacy protection and AI use.
Marketing Automation
As marketing technology (or martech) evolves, you may feel like you need a new software or tool every day. One of the best investments to consider is marketing automation software which manages routine marketing tasks for you.
Personalizing content to suit the interests and preferences of your target audience allows you to tailor emails accordingly, targeting each user according to his or her individual tastes and buying behaviors.
Predictive AI also can assist marketers in forecasting revenue needs months in advance, by predicting which leads will convert and when, helping you create the appropriate strategy and meet growth targets more easily.
Adopting these marketing trends will put you ahead in 2024, but to maximize their benefits you need a reliable partner – that is why Wizaly can assist in providing expert guidance through marketing automation and beyond. Get in touch with us now so that we can assist in finding a solution!
