The harsh effects on the marketing industry are finally less severe as the world regains momentum and reopens. However, there remains a Cautiousness among business owners and marketing firms. Now more than ever, predictions and trends are crucial in the world of advertising and branding. Below are some top marketing trends to anticipate for 2024.
Top 5 Marketing Industry Trends In 2024
1. AI is Slowly Taking Over Digital Marketing
The use of Artificial Intelligence (AI) is now prevalent in most if not all business industries. The marketing sector is also embracing the use of AI to tremendous success. Matters such as search engine optimization and automatic recording of website traffic are made easier for marketers because of AI.
In addition, marketers are also using AI and machine learning as a tool to get to learn more about their markets and consumers. Companies can predict customer purchase habits based on their histories, find the best platforms to reach them, and automate personalized messages for these consumers. All these marketing activities are also done with no need for marketing professionals, cutting hiring costs for marketing agencies in 2024.
2. Hiring Remote Employees
The pandemic impacted employment negatively, with pay cuts, employee layoffs, and employee health some of the main concerns. Another stand-out theme for employees was working from home, an aspect that benefitted some companies. Remote working ensured safety and cut office and support expenses for business owners and employees. Furthermore, it also gives both parties independence, crucial to boosting productivity amidst the pandemic.
As the world reopens and companies open their doors to new employees, remote working is set to continue. Apart from increased productivity, companies also see it as a chance to access a wider pool of skillful employees with no location restrictions. As a result, a growing number of marketing agencies are utilizing an employer of record to assist with hiring global employees.
The remote employee theme well suits the marketing industry. Digital marketing activities hardly require the need to be in an office. A remote employee only needs access to a well-functional computer or phone and reliable internet service.
One important consideration while investing in remote employees is having a stable support system in place. The support systems should feature an effective official communication line and a way to monitor the employees' work.
3. The Age For Hybrid Events
One of the aspects the world missed the most was outdoor events and social gatherings. The pandemic meant social distancing, and the lockdown was the norm that we had to deal with. In-home concerts, zoom meetings, and online openings were the theme as businesses sought to adapt.
On the business front, customer engagement and networking events took the virtual path too. Marketing agencies put their efforts toward making social media impressions and buzz to maximize virtual event attendance.
As a shift to normalcy begins, customers and marketers are uncertain whether to quench the desire for in-person events or retain the comfort of virtual events. With hybrid events, both preferences are met. Hybrid events allow in-person events while offering immersive options for event-goers at the comfort of their home.
4. Investing In Programmatic Advertising
Ads are essential to the marketing efforts of a business. Programmatic advertising uses AI to enable ad-buying automatically. The process is triggered by a web publisher putting up the ad for sale, where the highest-bidding advertiser earns the right to display the ad.
Afterward, the advertisers display the ad where they earn for every customer click that is converted into a sale. According to Statista, 61% of programmatic advertising spending worldwide is by US companies. This number expected to increase in the coming year.
5. Attaining More Ownership
Marketing companies are striving for more security which is no longer just achievable by helping drive sales. The agencies want more power over the products they market, as their successful efforts almost always increase the client's company value.
Having ownership also inspires the marketing agencies to implement more impressive strategies to increase sales. Marketing agencies can get more ownership by having performance metrics that allow part ownership when goals are met.
Conclusion
The marketplace is livening up again, and as such, adapting fast and being innovative may as well set your marketing company apart from the rest. By implementing the above guideline, you set yourself up to stay ahead of the marketing game in 2024 and 2025.
