Can you believe it’s 2024 already?
Phew! 2020 seems like just yesterday.
At the start of each new year, we like to kick off with a blog that helps us keep up with the latest trends in digital advertising. Why? Because they have the power to steer your advertising and marketing efforts in the desired direction!
These trends are constantly changing, so you need to be aware of what’s happening in the industry to make the most of your budget and stay ahead of the competition.
This guide to digital advertising trends in 2024 will take you through 5 must-know trends to help you stay ahead of the curve.
Without further ado, let’s get started.
1. AI’s Impact Will Grow Further
The role of AI in digital marketing is undeniable.
Its impact is predicted to be immense. McKinsey estimates that generative AI’s impact on productivity could add $2.6 trillion to $4.4 trillion to the global economy.
But what about consumers? How do they feel about this rapid AI adoption in advertising?
Fortunately, the news is good.
A 2023 study by Capgemini found that a clear majority, 62%, are comfortable with generative AI in marketing and advertising as long as it doesn’t adversely affect their experience.
Even more encouraging is that 64% are open to buying AI-recommended products.
Gartner further reinforces this positive trend, predicting that by 2025, 30% of marketing messages from large corporations will be AI-generated.
This tells us one thing: the days of treating AI like a shiny new toy are over.
You will have to integrate it into the core of your digital marketing strategies, especially in the all-important battlefield of SEO.
Using AI tools to analyze massive amounts of data can reveal hidden search trends, user intent, and competitor insights, which can greatly improve any SEO strategy.
For instance, a tool like Semrush has an integrated SEO Writing Assistant (SWA) that analyzes the SEO potential of your content and provides real-time input to help you improve readability, tone of voice, originality, and structure. Here is a quick Semrush review by Attrock to learn more about more of its features.
And unlike past technologies that relied solely on external updates and human intervention, AI models can learn and grow independently.
This frees up valuable human resources for strategic thinking and creative execution, leading to optimized campaign performance and improved management.
2. Phasing Out of Third-Party Cookies
As the digital dust settles around Google’s bombshell announcement of phasing out third-party cookies by mid-2024, brands are scrambling to find their way through the rapidly shifting landscape.
For years, these tiny code snippets tracked user behavior across websites, enabling personalized ads and experiences.
About 75% of global marketers rely on this data to tailor their marketing and advertising strategies.
But with privacy concerns steadily rising for 86% of US adults, even giants like Google must bend to the wind.
Stringent privacy regulations in the EU and UK further cement the demise of third-party cookies, leaving marketers facing a potential revenue apocalypse.
One silver lining in all this cookie destruction is first-party data.
Unlike third-party data, first-party data comes straight from customers and provides a treasure trove of accurate, current insights.
This goes beyond simple demographics and browsing patterns; it is about realizing the power of deeper personalization.
By using first-party data, you can create custom advertising campaigns fueled by preferences and behaviors revealed directly by your audience.
Rather than making assumptions based on crumbs left by third-party data, these interactive experiences are based on real-time feedback.
3. AI-Powered Programmatic Advertising Will Gain More Traction
Imagine a world where your ad campaigns run on autopilot, laser-targeting your ideal customers with personalized messages while squeezing every dollar for maximum impact.
That’s the future promised by the powerhouse duo of artificial intelligence (AI) and programmatic advertising.
And with 2024 just around the corner, this future is closer than ever.
Programmatic advertising has been steadily revolutionizing digital advertising, automating the buying and selling of ad space in real-time.
But AI injects a potent dose of intelligence into this system, taking it to the next level.
Take, for example, the symphony of programmatic ads and contactless marketing.
Expect hyper-personalized experiences that read your mind and omnichannel marketing that anticipates your every whim, all with an ethical touch.
AI crunches vast data sets, identifying patterns and insights invisible to human eyes.
This allows it to:
- Target your audience with pinpoint accuracy by learning your ideal customer profile and finding them across the web, ensuring your ads reach the right eyeballs.
- Craft personalized messages that resonate with individual preferences and behaviors, creating deeper connections and boosting engagement.
- Optimize campaigns in real-time by constantly monitoring performance and tweaking bids and placements on the fly to maximize your return on ad spend (ROAS).
This dynamic duo isn’t just a flash in the pan.
For instance, the global programmatic ad market has more than tripled since 2017, with spending projected to hit a whopping $616 billion by 2024 compared to $187 billion in 2017.
That’s serious growth, and AI is a clear driver behind it.
4. Short-Form Video will Rule 2024
With attention spans dwindling faster than an ice cube melting in July, brands are turning to bite-sized video bursts to hook viewers in 15 seconds or less.
Yes, you read that right. That’s all the time you have to grab your audience’s attention in this day and age.
According to Statista, here are the top video types people like to watch.
HubSpot’s research reveals that short-form video is the preferred format for 57% of Gen Z and 42% of Millennials for discovering new products.
Even more compelling: the same study found that 83% of viewers find short-form video the most effective ad format and 90% of current investors plan to up the ante or stay steady.
Talk about a vote of confidence!
Still, the numbers show something more important: short-form video works.
5. Consumers will Focus on Values and Purpose over Product Placement
The echo chambers of social media are buzzing with chatter, and brands that want to be heard need to speak a language that resonates with their audiences: authenticity.
And who better to deliver that than the trusted voices of friends, family, and relatable influencers?
In fact, 81% of consumers have taken action on a product or service after seeing it endorsed by someone they trust on social media.
These trusted voices hold a powerful sway over purchase decisions.
So, how does authenticity manifest itself in shaping digital advertising trends in 2024?
Here’s what brands should prioritize in their social media strategy:
- Relatable Personalities: People want to connect with influencers who seem like real friends, not like they are reading scripted ads. They gravitate towards those who share their values, sense of humor, and everyday experiences.
- Easy-to-Understand Content: No jargon, no fluff, just clear and concise communication. For consumers, the message and value proposition need to be clear and easy to understand.
- Ambassador Marketing: Brand ambassadors aren’t just glorified cheerleaders. Staying on top of ambassador marketing trends is important since they can boost your brand voice and help you find and vet influencers that match your vibe.
- Unique Point of View: A fresh perspective can cut through the noise and grab attention. People like brands and influencers that offer something unique, something that makes them think and feel curious.
Brands that embrace a genuine, transparent, and relatable approach will rise above the noise and forge lasting connections with their customers.
To Sum It Up…
2024 looks like it will be a great year for digital advertising!
Leverage AI as a strategic ally, tend to your first-party data like a priceless garden, and watch the magic happen when you combine AI with programmatic advertising.
Not to mention the power of short-form video and the trust-building magic of authentic influencers.
Take advantage of these trends while staying true to your brand’s identity, and your relationships with customers will grow in the new era of advertising. All the best! And remember, if you need any digital strategy support, contact us!
About Guest Author
Reena is Director of Operations and Sales at Attrock, a result-driven digital marketing company. With 10+ years of sales and operations experience in the field of e-commerce and digital marketing, she is quite an industry expert. She is a people person and considers the human resources as the most valuable asset of a company. In her free time, you would find her spending quality time with her brilliant, almost teenage daughter and watching her grow in this digital, fast-paced era.
