Mumbai: Marketing has unmistakably changed over time, moving from mass advertising to a more specialised and individualised strategy fueled by data, technology, and consumer preferences. As new platforms and technology appear, the market continues to change quickly, allowing marketers to innovate and modify their approaches to satisfy shifting consumer needs.
So how does 2024 look to be shaping up the future of advertising and marketing?
- Rise in AI-driven social commerce
With features like shoppable posts and in-app transactions, social commerce will be increasingly more integrated by 2024, facilitating direct product purchases by users from their social media feeds. To provide their customers with a seamless social commerce experience, brands must concentrate on optimising their social media profiles for sales, producing engaging content to entice consumers to buy, and utilising the newest social commerce features to streamline the purchasing process.
AI algorithms will play a crucial role in predicting and suggesting products based on user behavior and preferences. For instance, AI can analyze a user’s past purchases and browsing history to recommend products that they might be interested in, directly on their social media feeds.
- Advancements in delivering more and more personalised advertising
AI and machine learning will be used to understand individual preferences, behaviors, and purchase histories. This will enable the delivery of content that feels custom-made for each recipient. This will help the content reach its targeted audience with more efficiency.
To deliver relevant and timely adverts, effective digital advertising requires a full understanding of the user's browsing history, purchasing behaviour, and demographic data. Through the utilisation of artificial intelligence and machine learning, advertisers may effectively examine large datasets to discern patterns and preferences, thereby producing authentically engaging commercials.
- AI-powered video advertising
Video has been gaining traction lately, and by 2024, it will control the majority of digital advertising. As streaming services and video-sharing platforms proliferate, marketers have an unprecedented chance to connect with consumers through compelling video content. Through the use of captivating imagery, melodies, and narratives, marketers may establish a strong bond with their target audience.
The story of a brand may be told dynamically and engagingly using video advertising. Advertisers can use it to evoke strong feelings in viewers, present products in use, and leave them with unforgettable memories. A variety of video ad formats are anticipated, ranging from short-form videos for social networking sites to longer commercials for streaming services.
AI is already helping create more engaging and personalized video content. For instance, Instagram’s algorithm analyzes a user’s viewing history to suggest videos that they might find interesting. This enhances user experience.
- AI in voice search optimisation
Voice search is undoubtedly the way of the future for online interactions, with a staggering 4.2 billion voice assistants in use in 2023—a number that is expected to double by 2024.
AI-powered voice assistants like Alexa and Siri will play a crucial role in optimizing content for voice search. These voice assistants can understand and respond to voice commands, making it easier for users to find information.
Optimising the content of your website to appear more frequently in voice-activated searches is known as voice search optimization. Voice-activated gadgets such as Alexa and Siri have contributed to the notable surge in the popularity of voice search in recent years. The intention here is to make sure that your content can answer queries that users pose using voice commands. To stay competitive in this market, marketers will need to optimise their content for voice search.
- Surge in ethical marketing
Customers are becoming more aware of the environmental and social responsibility of brands. Businesses that truly dedicate themselves to sustainability and ethical behaviour will be ahead of the competition in 2024. A fair and transparent marketing will boost the overall creativity and goodwill among consumers for the product.
In addition to these, the B2B martech spending is projected to reach $8.51 billion by 2024, indicating the growing popularity of AI in the Martech industry. AI has already surpassed predictive analytics in the marketing industry and is increasingly scientific, relying on data analysis to drive predictions of customer behavior.
2024 has great promise for a fascinating and demanding journey in the field of marketing. Success will mostly depend on embracing new technologies, realising the value of personalization, and keeping an eye out for morally and environmentally responsible behaviour. Reaching and involving your target group will require flexibility and ongoing education. One thing is certain in this quickly changing world: in 2024, marketing will combine creativity, data-driven decision-making, and in-depth consumer knowledge.
