Introduction
Our team at Mediasurfer has conducted extensive research to gather the most discussed and anticipated trends in digital marketing for 2024. This article provides a comprehensive overview of the evolving landscape, highlighting key developments and strategies that are set to define digital marketing in the upcoming year.
1- The Shift Towards Digital Democracy
2024 marks a pivotal year in digital marketing, witnessing a significant move from the dominance of 'walled gardens' such as Meta and Google towards a more open web approach. This evolution addresses the growing concerns over transparency, privacy, and anti-competition.
Marketing teams are now diversifying their efforts across various platforms, reducing dependence on a few tech giants. The trend signifies a move towards greater transparency and ownership in digital and ad tech capabilities, providing a competitive edge to those who adapt early.
At Mediasurfer, we are committed to minimizing our clients' risks and reducing their dependency on major players. By creating our own platforms for traffic acquisition and DSP (Demand-Side Platforms), we aim to lessen our clients' reliance on market giants. This strategy not only mitigates the impact of changes in these corporations' policies but also enhances transparency and control for our clients.
Marketing teams are now diversifying their efforts across various platforms, reducing dependence on a few tech giants. The trend signifies a move towards greater transparency and ownership in digital and ad tech capabilities, providing a competitive edge to those who adapt early.
At Mediasurfer, we are committed to minimizing our clients' risks and reducing their dependency on major players. By creating our own platforms for traffic acquisition and DSP (Demand-Side Platforms), we aim to lessen our clients' reliance on market giants. This strategy not only mitigates the impact of changes in these corporations' policies but also enhances transparency and control for our clients.
2 - AI: New Measurement and Attribution
Artificial intelligence is taking a central role in the realm of measurement and attribution. The decline of traditional data signals is being filled by the use of synthetic data and the blending of ad tech and martech solutions. This development is reshaping our understanding of consumer behavior and campaign effectiveness.
According to the Capgemini Research Institute, 62% of consumers are comfortable with the use of generative AI in marketing, indicating an upward trend in its acceptance. AI is expected to produce 30% of outgoing marketing messages from large corporations by 2025, according to Gartner.
According to the Capgemini Research Institute, 62% of consumers are comfortable with the use of generative AI in marketing, indicating an upward trend in its acceptance. AI is expected to produce 30% of outgoing marketing messages from large corporations by 2025, according to Gartner.
- Beyond Profits to Societal Value: AI facilitates faster optimization of marketing campaigns. KPIs should reflect not only the bottom line but also wider societal impacts.
- Transparency about Data Use: As AI tools become integral in marketing, communicating how user data is used to inform these tools is essential.
- Legal and Brand Compliance: The synergy of human input and technology is vital. Marketers must ensure that assets created by generative AI are legally safe and align with the brand's tone.
3 - More Ad Spend in Emerging Platforms
Expect a significant surge in advertising spend in streaming audio, podcasts, and gaming as these platforms gain more prominence in digital advertising. Advertisers recognize the value of engaging highly-targeted audiences in these immersive mediums.
Streaming audio provides personalized brand connections, podcasts offer unique storytelling opportunities, and the gaming industry presents interactive ad experiences. Additionally, another AI-driven domain gaining momentum is voice search advertising, facilitated by the widespread adoption of voice-activated devices like Amazon Echo, Google Home, and Sonos One.
It is reported that 55% of all households in the US use one of these three voice systems. This widespread usage lays the groundwork for the emergence of a new, audio-based ad format tailored for voice-activated devices.
4 - In-app Retargeting at the forefront
Digital marketing is increasingly focused on mobile apps, responding to the shift from web browsing to app usage. Simultaneously, the cost of acquiring new customers is rising, partly due to stricter privacy policies. For example, in e-commerce, the average CPA has soared by 155%. This increase, coupled with low retention rates, highlights the efficiency of focusing on existing users.
Marketers recognize that users who have previously interacted with the app or product are more likely to engage and make purchases. This effectiveness is attributed to the personalized nature of in-app retargeting, which is enhanced by AI and machine learning, enabling precise targeting and segmentation.
Our platform, Holdy.app, as mentioned in our previous articles, is precisely built on these advanced AI algorithms, enhancing the effectiveness of such targeted marketing strategies.
As per a Bain & Company study, a 5% increase in retention can lead to a 25% to 95% increase in profits. Consequently, in-app retargeting is emerging as a critical strategy in 2024, offering a more sustainable and effective approach to customer engagement and retention.
Marketers recognize that users who have previously interacted with the app or product are more likely to engage and make purchases. This effectiveness is attributed to the personalized nature of in-app retargeting, which is enhanced by AI and machine learning, enabling precise targeting and segmentation.
Our platform, Holdy.app, as mentioned in our previous articles, is precisely built on these advanced AI algorithms, enhancing the effectiveness of such targeted marketing strategies.
As per a Bain & Company study, a 5% increase in retention can lead to a 25% to 95% increase in profits. Consequently, in-app retargeting is emerging as a critical strategy in 2024, offering a more sustainable and effective approach to customer engagement and retention.
5 - Transitioning Beyond Third-Party Cookies
In May 2023, Google announced its plan to phase out third-party cookies by mid-2024, responding to growing privacy concerns. These cookies have been central to targeted marketing, enabling personalized online experiences. This announcement has prompted brands to seek alternative targeting solutions to stay relevant.
Companies are facing the critical challenge of harnessing this data for effective targeted advertising while simultaneously navigating the complex landscape of stringent privacy regulations. This pivotal shift in the digital advertising arena is steering the industry away from traditional cookie-based metrics and towards a more nuanced focus on attention metrics.
This evolving focus is highlighted by the concerted efforts of organizations like the Interactive Advertising Bureau (IAB) and the Media Rating Council (MRC), who are working to establish a comprehensive set of measurement guidelines centered on attention. These initiatives are anticipated to pave the way for a more standardized and consistent methodology throughout the digital advertising industry.
Companies are facing the critical challenge of harnessing this data for effective targeted advertising while simultaneously navigating the complex landscape of stringent privacy regulations. This pivotal shift in the digital advertising arena is steering the industry away from traditional cookie-based metrics and towards a more nuanced focus on attention metrics.
This evolving focus is highlighted by the concerted efforts of organizations like the Interactive Advertising Bureau (IAB) and the Media Rating Council (MRC), who are working to establish a comprehensive set of measurement guidelines centered on attention. These initiatives are anticipated to pave the way for a more standardized and consistent methodology throughout the digital advertising industry.
6 - New Value Mindset
The concept of value in consumer decision-making is undergoing a transformative shift. Today's consumers, especially Millennials and Gen Z, are looking beyond traditional factors like price and quality.
Their purchasing decisions are increasingly influenced by a multifaceted framework of values. This includes considerations such as sustainability, experiential value, and the perceived benefits of sharing first-party data. This new value mindset indicates a broader reassessment of priorities, steering towards more responsible and mindful consumption.
Marketers need to align with these evolving consumer attitudes. While discounts and offers still play a role, especially amidst rising inflation, a significant 82% of shoppers now demand that a brand's values align with their own. To effectively engage with consumers in 2024, marketers must adapt their messaging and creative strategies to resonate with today's zeitgeist.
Their purchasing decisions are increasingly influenced by a multifaceted framework of values. This includes considerations such as sustainability, experiential value, and the perceived benefits of sharing first-party data. This new value mindset indicates a broader reassessment of priorities, steering towards more responsible and mindful consumption.
Marketers need to align with these evolving consumer attitudes. While discounts and offers still play a role, especially amidst rising inflation, a significant 82% of shoppers now demand that a brand's values align with their own. To effectively engage with consumers in 2024, marketers must adapt their messaging and creative strategies to resonate with today's zeitgeist.
7 - Rise of Micro-Influencers in Marketing
Influencer marketing is shifting towards micro-influencers over celebrities. According to Hubspot, 80% of influencer marketers collaborate with small creators (1K to 99,999 followers/subscribers), while only 16% work with accounts over 1 million followers.
The main reason for this shift is cost-effectiveness, with 44% of marketers finding it beneficial. The definition of an "influencer" is evolving. Nano-influencers (1,000-10,000 followers) generate over twice the engagement of macro-influencers. Consumer brands, particularly in beauty, fashion, and wellness, are increasingly leveraging nano-influencers due to higher engagement and lower fees.
While macro-influencers still have appeal for broader reach, nano-influencers offer a compelling strategy for companies aiming to engage a more targeted audience in 2024. Influencers continue to dominate digital trends as "people follow people."
The main reason for this shift is cost-effectiveness, with 44% of marketers finding it beneficial. The definition of an "influencer" is evolving. Nano-influencers (1,000-10,000 followers) generate over twice the engagement of macro-influencers. Consumer brands, particularly in beauty, fashion, and wellness, are increasingly leveraging nano-influencers due to higher engagement and lower fees.
While macro-influencers still have appeal for broader reach, nano-influencers offer a compelling strategy for companies aiming to engage a more targeted audience in 2024. Influencers continue to dominate digital trends as "people follow people."
8 - Hyper-Personalization
Hyper-personalization is transforming sales and marketing through the advanced use of AI and machine learning, enabling a deep dive into customer data for tailored content, product suggestions, and offers. Take the example of Sandy, browsing an online clothing store.
As she looks at various coats, the website's AI system assesses her previous purchases, browsing history, and interaction patterns. Based on this analysis, it recommends a coat that aligns with her preferred style, size, and color, and also suggests complementary accessories. This personalized approach extends across all customer interactions, from emails and website recommendations to in-store promotions.
However, with great power comes great responsibility. Businesses must ethically manage customer data, ensuring transparency in how this information is collected and used, and obtaining clear consent. This balance of personalization and privacy is essential in building trust and providing real value in today's hyper-personalized marketing landscape.
As she looks at various coats, the website's AI system assesses her previous purchases, browsing history, and interaction patterns. Based on this analysis, it recommends a coat that aligns with her preferred style, size, and color, and also suggests complementary accessories. This personalized approach extends across all customer interactions, from emails and website recommendations to in-store promotions.
However, with great power comes great responsibility. Businesses must ethically manage customer data, ensuring transparency in how this information is collected and used, and obtaining clear consent. This balance of personalization and privacy is essential in building trust and providing real value in today's hyper-personalized marketing landscape.
9 - Video Marketing: Short-Form and Live Content
Video marketing is evolving rapidly, with short-form videos, live streaming, and interactive content becoming increasingly crucial. Companies that effectively leverage these trends can gain a competitive edge, conveying their brand messages in an engaging and dynamic manner.
Given the regulatory data concerns surrounding TikTok, many marketers are turning to YouTube Shorts and Meta Reels for their short-form video content needs. Pew Research notes that 95% of teens aged 13 to 17 use YouTube, more than TikTok (66%) and Instagram (62%).
Its engagement levels are high, with 19% of teens using it almost constantly. YouTube Shorts is a growing trend, with over 50 billion daily views, compared to Meta’s Reels at 200 billion daily views. This highlights the need to adapt to trends in video marketing, focusing on brevity, interactivity, and live engagement.
Given the regulatory data concerns surrounding TikTok, many marketers are turning to YouTube Shorts and Meta Reels for their short-form video content needs. Pew Research notes that 95% of teens aged 13 to 17 use YouTube, more than TikTok (66%) and Instagram (62%).
Its engagement levels are high, with 19% of teens using it almost constantly. YouTube Shorts is a growing trend, with over 50 billion daily views, compared to Meta’s Reels at 200 billion daily views. This highlights the need to adapt to trends in video marketing, focusing on brevity, interactivity, and live engagement.
10 - Social Media Search Optimization
Traditionally, marketers focused on enhancing their websites and content to rank higher on search engines like Google and Bing. However, with changing user behaviors, particularly among Gen-Z, this approach is expanding to social media platforms.
A striking statistic from Google reveals that about 40% of Gen-Z users now turn to TikTok and Instagram for search purposes, rather than traditional search engines. This shift underscores the growing importance of social media in the search ecosystem and the need for marketers to adapt.
Optimizing social media content now involves careful attention to details like keywords and metadata in posts. The role of captions becomes crucial, as they need to include relevant keywords and descriptive data to enhance a brand's post discoverability.
Historically, brevity was the key to engagement on social platforms, but the trend is shifting towards more detailed content with a higher density of keywords and information, aiming to boost post rankings in this new search landscape.
A striking statistic from Google reveals that about 40% of Gen-Z users now turn to TikTok and Instagram for search purposes, rather than traditional search engines. This shift underscores the growing importance of social media in the search ecosystem and the need for marketers to adapt.
Optimizing social media content now involves careful attention to details like keywords and metadata in posts. The role of captions becomes crucial, as they need to include relevant keywords and descriptive data to enhance a brand's post discoverability.
Historically, brevity was the key to engagement on social platforms, but the trend is shifting towards more detailed content with a higher density of keywords and information, aiming to boost post rankings in this new search landscape.
Conclusion
We hope this article helps you understand the focal points in the ever-changing world of digital marketing. Embracing new technologies should not be a source of fear, but rather an opportunity for adaptation and innovation. By integrating these emerging trends and tools, businesses can not only stay relevant but also leverage them to drive profit and growth.
@MEDIASURFER
