In this article, we will take a look at the top 20 marketing trends of 2024. If you want to skip our detailed analysis, you can go directly to Top 5 Marketing Trends of 2024.
The Social Media Landscape in 2024
According to a report by Forbes, there were 4.9 billion social media users in 2023. The number is expected to increase to 5.85 billion users by 2027. Short-form videos are particularly very popular on social media, capturing the attention of 66% of users. These videos tend to be 2.5 times more engaging than longer videos. Social media is also one of the primary platforms for advertising. 77% of businesses use social media to attract and retain customers. Influencer spending was valued at $4.14 billion in 2022. On the other end of the spectrum, 67% of adolescents suggested they felt worse about themselves after being on social media. Such explains why social media platforms are aiming to enhance transparency.
Meta Platforms, Inc. (NASDAQ:META) understands the need for transparency. On February 6, Meta Platforms, Inc. (NASDAQ:META) announced that Facebook, Instagram, and Threads will label content generated by the Meta AI feature. Meta Platforms, Inc. (NASDAQ:META) does not limit itself to enhancing a social media user’s experience. The Meta Business Suite allows companies to manage their marketing and advertising functionalities. Businesses can create content, schedule posts, respond to messages, and analyze performance through the dashboard. You can also take a look at the social media sites to consider for brand advertising.
Artificial Intelligence and Marketing Go Hand in Hand
According to a report by Forbes, marketers use artificial intelligence to analyze data, extract important insights, and receive up-to-date information. Marketers also benefit from artificial intelligence to create campaigns, segment their audience, curate personalized content, and analyze performance. While the adoption of artificial intelligence is beneficial, 64% of marketers fear AI will replace their roles. Marketers also fear that automation will result in actions that do not support a company’s marketing strategy. Instead of completely dismissing the integration of AI, companies are installing AI tools in their solutions that act as assistants to marketers.
Salesforce, Inc. (NYSE:CRM) is one such example. It is a leading platform for marketing automation and customer relationship management. The company offers a range of artificial intelligence tools to streamline a company’s marketing process. Companies use Salesforce, Inc.’s (NYSE:CRM) marketing tools to create segments, optimize customer journeys, integrate marketing and sales functions, implement triggers for customers, and establish cross-channel integration. On March 12, Salesforce, Inc. (NYSE:CRM) announced the launch of an enhanced all-in-one CRM solution for businesses. The Pro Suite has built-in AI, reporting templates, campaign templates, content personalization, and performance analytics. You can also take a look at the best Canva alternatives in 2024.
The Rise of Social Commerce
According to a report by Grand View Research, the global social commerce market was valued at $727.63 billion in 2022. The global social commerce market is expected to grow to $6.24 trillion in 2030 from $913.9 billion in 2023 at a compound annual growth rate (CAGR) of 31.6%. Customers can make purchases instantaneously without having to leave the social commerce platform. Sellers also benefit from the merger of business and content. The B2C segment dominated the market with a share of 55.97% in 2022. The consumer-to-consumer segment is expected to grow at a CAGR of 27.6% between 2023 and 2029, suggesting why brands must look more into influencer marketing and selling.
Pinterest, Inc. (NYSE:PINS) is a growing social commerce platform. The platform is popular among customers and attracts high-paying customers. Companies of all sizes can use Pinterest, Inc. (NYSE:PINS) to create a shop and upload a product catalog. Users gain access to ad formats and elaborate analytics tools by signing up for the business account. Brands can convert their pins into product purchases. Pinterest, Inc. (NYSE:PINS) does not charge merchants with a selling fee. Instead, the company charges sellers for placing ads and running promoted pins.
Now that we discussed some major players that will shape marketing in 2024, without further ado, let’s take a look at the top 20 marketing trends of 2024. You can also read our piece on the biggest e-commerce companies in the world.
Top 20 Marketing Trends of 2024
Our Methodology
To gather a list of the top 20 marketing trends of 2024, we consulted over 10 rankings and reports on the internet. We picked the marketing trends that appeared in 50% of our sources and then ranked them.
Top 20 Marketing Trends of 2024
20. Conversational Marketing
Conversational marketing is a top marketing trend of 2024. Real-time dialogue with customers helps companies establish a connection with potential customers, ensure they stay on the website for longer, receive crucial feedback, and gain important insights into the customer’s needs.
19. Enhanced Use of Data
The use of data analytics is a key marketing trend of 2024. Marketers can gain important insights from customer data to create targeted campaigns and business decisions. Marketers can also use artificial intelligence tools to organize and contextualize data.
18. Focus on Customer Journeys
The customer journey from start to finish is extremely important for a company. Every customer may have a distinct customer journey and unique reasons to purchase a certain good or service. To ensure the specific needs of each customer are being met, businesses must focus on optimizing and enhancing the complete journey of a customer. Such stems from an elaborate focus on retaining customers instead of attracting new ones.
17. Radical Innovation
Like every other business operation and function, marketers also need to benefit from innovation. Design tools like MidJourney and automation tools like HubSpot are essential for a company’s marketing strategy. While these tools may be used, a company may also engage in developing personalized tools for themselves.
16. Rise in Owned Media
Owned media is the type of media or channels controlled by the company itself. While influencer and user generated content is essential, a brand must have its own creative assets such as a website, blog, social media, and email list.
15. Focus on Brand Values
Integrating brand values is highly necessary. Marketing strategies and campaigns must align with a brand’s values and core beliefs. Marketers must also ensure that their messages are congruent across all channels.
14. Huminification on LinkedIn
The audience on LinkedIn is growing rapidly. Marketers suggest that posting on LinkedIn from an individual’s account is more beneficial rather than posting from a company’s page. Therefore, brands must focus more on empowering their employees and senior management to utilize LinkedIn.
13. Programmatic Marketing
Programmatic Marketing is another key trend to look forward to for the rest of 2024. The strategy is focused on automated real-time bidding on ad placement. Such allows marketers to advertise to specific users in real time with personalized and customized messaging.
12. Emphasis on Sustainability and Ethical Marketing
Marketing without a purpose is no longer enough to attract and retain customers. Sustainable and ethical marketing focuses on accounting for the social and environmental impact of a brand. Companies must ensure their activism is not limited to marketing and social awareness. Companies must dictate their commitment to society through their actions.
11. Social Commerce
The popularity of social commerce is increasing across the globe. Social media companies like Pinterest, TikTok, and Instagram allow brands to market and sell their products on the same platform. This way, brands can optimize their content and products to sell them immediately.
10. Voice Search Optimization
Voice search optimization is another key marketing trend in 2024. The SEO technique ensures that a company’s website is fit to model voice search queries. To ensure that a website is optimized to respond to voice search queries, marketers must ensure they are adjusting content, increasing page load speed, and adding images and structured data to enhance the customer experience.
9. Hyper Personalization
Personalization is not just a buzzword in marketing. To attract and retain the right audience, brands must ensure that companies are offering personalized experiences to their customers. This can be achieved by customization of products, messages, deals, offers, and newsletters. To offer hyper personalized messages, marketers must be able to study the customer journey of each customer separately.
8. The Integration of AR & VR
Augmented and virtual reality are expected to make a comeback in marketing. Brands are expected to develop more immersive brand experiences for customers. Companies may execute such by using interactive product demonstrations, virtual try-ons, and gamified campaigns. Companies can ensure they are providing personalized experiences to their audience.
7. Emphasis on Privacy & Data Protection
Data privacy and data protection are key marketing trends of 2024. Customers are now more concerned about how their data is being used by companies. Brands must give more control to customers on how they allow their data to be used. Data encryption and biometric authentication are just a few ways to ensure consumer data is protected.
6. Focused Social Media Channels
While having a strong social media presence is important, brands need to ensure they are investing in the right platforms. For instance, aiming to have a large presence on Instagram for a B2B business may not be the best marketing strategy. Focusing on specific social media platforms that align with the nature of business is one of the marketing trends of 2024.
Click to continue reading and see Top 5 Marketing Trends of 2024.
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Disclosure: None. Top 20 Marketing Trends of 2024 is originally published on Insider Monkey.