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As 2024 dawns, the digital marketing landscape has been revolutionized by 2023’s emerging trends. Personalization, artificial intelligence, and immersive technologies like augmented reality or virtual reality (AR/VR) have taken center stage, vastly enhancing user engagement and broadening the horizons of marketers. These advancements promise a transformative impact on strategies and industry standards for years ahead.
The global digital advertising market was valued at $601.8 billion in 2023, with media ads accounting for 67.1% of overall expenditure. Clearly, digital advertising is a lucrative industry, and it’s no surprise that more companies are finding ways to capitalize on these 2024 advertising trends.
Video Advertising Trends
Mobile devices have transformed how we connect and do business, ushering in an era where video advertisements can make or break your marketing campaign. These video advertising trends open up new opportunities for businesses to reach their target audience.
Video Ads Keep Getting Shorter
Today’s consumers have a low tolerance for lengthy video ads – over 25% of adults admitted they would stop watching a video within the first 10 seconds. More than half say they would stop within 20 seconds. Advertisers turn to bite-sized video ads, especially if there’s a sequence of ads back to back. An analysis found that Instagram videos should not exceed 30 seconds, Twitter videos should be limited to 45 seconds, and Meta (previously Facebook) videos should be no longer than 1 minute.
Short-form video content has been found to yield the highest return on investment (ROI) throughout 2023. A Hubspot study shows that short-form video is the preferred format for product discovery among Gen Z (57%) and Millennials (42%).
Shoppable Video Ads Set To Sustain Popularity in 2024
As the name suggests, a shoppable ad enables customers to browse and buy products directly from the advertisement. Shoppable media is the future, with 57% of ad agency professionals worldwide believing that this type of advertising will be the next frontier. Shoppable TV ads have proven to be highly effective for cutting through the noise and boosting customer engagement due to their interactive nature.
2. Social Media Advertising Trends
Social media gives businesses a chance to connect with customers in a more interactive and personal way. The following trends shaped the landscape of social media advertising in the past year.
Consumers Demand Authenticity in Social Media Ads
Authenticity matters: 88% of consumers prioritize it when choosing brands to support. Influencer marketing is also one way advertisers are working to humanize their brands. Lenox, a classic dinnerware company, utilized influencers to transform the perception of its products among young consumers. The company collaborated with 32 influencers who showcased Lenox’s dishes in unique, non-traditional home settings.
Influencer Marketers Favor Micro-Influencers Over Celebrities
According to HubSpot, 80% of influencer marketers collaborate with small creators (1K to 99,999 followers/subscribers), whereas only 16% work with accounts with over 1 million followers. Influencer marketing has evolved from focusing solely on follower count to prioritizing content quality and brand alignment.
3. eCommerce Advertising Trends
With over 24 million eCommerce stores worldwide, competition for businesses has never been tougher. To stand out and attract customers, it is crucial to stay on top of the latest eCommerce advertising trends.
Amazon Takes the Lead in eCommerce Advertising
Amazon accounts for more than 75% of overall eCommerce ad spending. The eCommerce giant’s overall ad revenue exceeds $7 billion, followed by Walmart, with just over $1.5 billion in ad revenue. Sponsored product ads are prominently displayed at the top and bottom of the page. Placement is crucial, as 35% of Amazon shoppers click on the first product, and the top three receive 64% of all clicks.
4. Audio Digital Marketing Trends
A less explored but rapidly growing area of digital marketing is audio advertising. With the popularity of podcasts, music streaming services, and smart speakers, businesses are now looking to incorporate audio ads into their marketing strategies.
Audio Advertising Is on the Rise
Audio advertising is a way of promoting products or services by inserting ads into digital audio content. These ads are commonly heard on digital radio shows, podcasts, or music streaming. Podcasting advertising, especially, has reached a new level of popularity. Over 82 million Americans listened to podcasts in 2021, with the majority being millennials and Gen Zs.
Ad Optimization for Voice Search Will Be Prevalent in 2024
A 2023 Hubspot study predicted that over a quarter (28%) of marketers were expected to discontinue voice search optimization by 2023. However, the digital tides may shift in 2024 as the number of people using voice assistants is expected to rise.
5. Content-Centric Trends in Advertising
From user-generated content to authentic influencer collaborations, content-centric advertising gives your brand a voice and a personality. These 2024 advertising trends are all about creating meaningful connections with your audience through high-quality, relevant content.
User-Generated Content Continues To Rule
User-generated content (UGC) is any content – text, images, videos, or audio – created by end-users rather than brand creators. It is trusted by 86% of brands and retailers. UGC is not only effective, but it can also save you advertising dollars.
Funny, Trendy and Relatable Content Will Prevail in 2024
Gone are the days when social media prioritized aesthetics. According to a survey, 68% of consumers prioritize authentic and relatable social media content over polished, high-quality content.
6. Mobile Advertising Trends
If there is one thing that is certain, it’s that mobile devices are here to stay. With most internet users accessing the web through their smartphones, businesses cannot ignore the impact of mobile advertising.
Mobile Optimization Remains a Priority for Many Brands
More and more consumers are using their mobile devices. As a result, mobile devices, including tablets, account for more than half of all yearly internet traffic.
Advertisers Capitalize on the Mobile Gaming Boom
The global in-game advertising market is anticipated to generate $13,989.6 million in revenue by 2028, rising quickly at a CAGR of 11.2% over the forecast period of 2021-2028.
7. Technology Trends in Advertising
ChatGPT and the Metaverse are two of the most talked-about technological trends in advertising, but are they here to stay? Here’s a look at how these technologies are changing the advertising landscape:
AI Assumes a Prominent Role in Advertising
ChatGPT’s debut in late 2022 led to a significant increase in AI adoption rates, and it’s not slowing down anytime soon. The global AI market will be worth $407 billion by 2027.
More Brands Invest in Metaverse for Advertising
In the words of Mark Zuckerberg, “Metaverse isn’t a thing a company builds. It’s the next chapter of the internet overall.” Spending on virtual and augmented reality (VR/AR), the Metaverse’s foundation technology, is expected to grow from $12 billion in 2020 to $72.8 billion by 2024.
8. Personalization Trends in Advertising
With access to vast amounts of data, brands can now create highly targeted and personalized advertisements for their audience. This trend is here to stay as consumers expect more personalized experiences and value privacy protection.
Copy-Pasting the Same Content Across Platforms Won’t Cut It in 2024
A HubSpot survey found that social media marketers handle an average of four platforms. Although cross-posting has its advantages, many marketers are now avoiding it.
Advertisers Prepare for Phasing Out of Third-Party Cookies
In May 2023, Google announced it would phase out support for third-party cookies due to rising privacy concerns. The phase-out process will begin midway through 2024 and will be gradual.
Marketers See a Shift to Signal-Based Advertising
Signal-based marketing uses consumer events and behaviors to deliver personalized messages without relying on third-party cookies.
Branded Social Media DM Strategies Are On the Rise
Direct messaging (DM) on social media platforms for customer service is a relatively recent phenomenon, but 29% of marketers have already adopted it.
Keep Up to Date With the Latest 2024 Advertising Trends
Staying current with the latest advertising trends ensures you get the most out of your advertising budget and reach the right audiences. You can take your marketing campaigns further by partnering with a digital marketing agency like Thrive. From social media advertising to Amazon paid ads, we can help you navigate the changing advertising landscape.
