This year we have witnessed significant change in the industry as AI begins to take shape and puts the future of marketing on a different trajectory. As a business, you will be making your own assumptions and guiding the company on what is coming next, and marketing is no different. In this article I will lay out the five key marketing trends I predict will unfold in 2024 and how you as a business can implement them so you can stay ahead of the curve.
A more personalised approach
In 2024 companies will be embracing AI as a powerful tool for personalisation, analysis, content creation, customer interaction and predictive insights. Personalised marketing approaches are likely to become even more sophisticated. To implement this approach, companies must use data to target and retarget leads with a brand message specifically tailored to the customer’s interests, demographics and buying behaviour. Splitting the data down into categories will allow you to get a 360 view and therefore engineer the message with up-to-date information. You can get this data by introducing a newsletter subscription for instance. Furthermore, AI will enable marketers to personalise their web page by offering customer-specific product recommendations and dynamic pricing with its real-time algorithm.
Holistic measure of progress as well as data-driven
Data will always be at the forefront of a marketing strategy as that is what establishes a foundation you can build on. Having said that, in 2024 I predict there will be a more holistic measure of progress which will work together with data. With a greater emphasis on community and inclusivity by companies, live events, podcasts, newsletters, and social media for example will begin to take priority over one-off campaigns. Playing the long game will be key for some companies to optimise their strategy and ensure a growing customer base.
The future is sustainable
Marketing products and services endlessly are not the only thing that will be capturing the modern consumer in 2024. Instead, there will be more of a focus on the brand’s values and social responsibility. We saw CSR and ESG take off this year and this will only accelerate as marketing adapts to the changing climate. With boycotts and shifting attitudes from the consumer, marketers must be up to speed and plan accordingly. In addition, sustainability is becoming more advanced, and this trend will surge as more brands promote their ethical and environmental practices.
Micro influencer focus
Brands have recognised that huge followers don’t necessarily convert into huge sales or a loyal audience. In 2024 I expect to see brands invest their time and budget into micro influencers who can convey a message to their audience more organically and connect with them better than someone with over a million followers. Particularly as some marketing budgets may have to be cut back, the shift towards micro-influencers signals a more elongated approach which values time over instant results which may flatten quickly.
Augmented reality marketing
We know technology will continue to play a big role in a company’s marketing strategy and augmented reality is just one cool way it is doing that. Immersive content is gaining popularity, so adopting interactive methods will become the norm. This could include virtual product demonstrations, augmented reality advertisements, and more engaging forms of storytelling.
In summary, 2024 promises fast-paced innovation with a more stripped-back approach. Marketers will have to judge more carefully what entices a specific customer and what doesn’t, but with strong data at their disposal this shouldn’t feel too daunting.