Recent Marketing Trends in 2024

Introduction:

It’s not only important but also essential to keep ourselves updated about the recent trends in the always-changing field of marketing. Several marketing trends are developing in 2024, changing how brands interact with their target market and encourage conversions. Let’s investigate the most recent trends in marketing that are likely to completely transform the sector.

• Short-form Video Content

According to the research, the consumption of short-form videos has increased significantly across various social media platforms.

As per the research conducted by GlobalWebIndex, 54% of consumers spend an average of 84 minutes per day on online video consumption. Statistics estimate that the average time spent watching digital videos will increase by 100 minutes in 2023.

Platforms like TikTok have experienced a sudden growth of 2 billion downloads. TikTok has gained popularity as the most downloaded non-gaming app globally, as reported by Sensor Tower and App Annie. Along with TikTok, Instagram reels and YouTube Shorts have also gained a significant boost. Instagram reports over 2 billion reel views per day.

With the help of short-form videos, many businesses have experienced significant brand growth. As per Wyzowl, 87% of businesses use video as their marketing tool.

Vidyard reports also suggested that 80% of video marketers credit video for increasing sales. They also found that 68% of consumers prefer to learn about products or services through short-form videos.

One more such study by Wibbitz found that shorter videos under 2 minutes have gained the most engagement. They conclude that 78% of marketers found video content leads as a useful strategy for more engagement.

Social media examiner conducted another study that also describes the power of short-form videos for engaging audiences and brand growth.

The research-backed results emphasize that short videos are powerful for grabbing attention and helping brands grow. This matches the current marketing trends, where companies are using brief video content to connect with audiences and build their brands.

• Authentic Content Creation

Consumer behaviour studies consistently focus on the importance of creativity and authenticity in content creation.

Research conducted by Stackla shows that 86% of consumers prioritise authenticity while choosing which brands to support. This plays an important role in genuine content in cultivating trust and loyalty.

Moreover, a survey conducted by Cohn and Wolfe reveals that 63% of consumers prefer to purchase products from authentic brands. This data shows the significant influence of authenticity on customer purchase decisions.

Through the alignment of content with a company’s values and beliefs, marketers may create meaningful relationships with consumers that promote brand authenticity and loyalty.

The value of authenticity plays a key to successful content creation methods. This fosters meaningful engagement and long-term brand loyalty.

• Native advertising/sponsored content 

Studies show how valuable sponsored content and native advertising are for contemporary marketing campaigns.

According to a convincing study by Sharethrough and IPG Media Lab 53% of consumers are more likely to interact with native ads than with typical display ads. Furthermore, these native advertisements produce a remarkable 18% increase in buy intent and a 9% increase in brand affinity, showing their efficiency in favourably influencing consumer behaviour.

Business Insider Intelligence’s estimations, which indicate continued growth and investment in this advertising format, further support this effectiveness. By 2023, native display ad revenue is expected to surge to $52.75 billion.

Furthermore, Nielsen Catalina Solutions’ findings highlight the real effect that native advertising has on consumer interaction, with a startling 23% higher engagement rate than typical display ads.

These research and analysed supported conclusions highlight the ongoing importance of sponsored content and native advertising in promoting brand awareness, engagement, and conversions, making them essential elements of modern marketing campaigns.

• Influencer marketing

Influencer marketing continues to play a vital part in ever-changing marketing strategies. Research shows that influencer partnerships have a high return on investment (ROI).

Influencer Marketing Hub data indicates that companies make $5.20 on average for each dollar they spend on influencer marketing.

In addition, a thorough analysis by Mediakix projects that the influencer marketing sector will reach a whopping $13.8 billion in 2021, underscoring its steady expansion and ongoing significance.

Furthermore, studies highlight the legitimacy and trustworthiness of influencer collaborations; for example, a Linqia survey found that 89% of marketers agreed that influencer marketing helped raise brand awareness.

Furthermore, according to data from The State of Influencer Marketing, 87% of marketers believe that influencer-generated content is very successful at increasing engagement and conversions.

This abundance of researched and analysed data concludes that influencer marketing is a key component of effective marketing strategies, increasing brand awareness, interaction, and revenue in the digital sphere.

• Artificial Intelligence (AI)

Driven by comprehensive study findings, the incorporation of Artificial Intelligence (AI) into marketing strategies is growing rapidly.

A Gartner poll indicates that 37% of companies have already used AI in some way, which is a considerable increase over a few years.

Additionally, a survey by IDC predicts that by 2024, global spending on AI solutions will amount to $110 billion, demonstrating a significant level of confidence and investment in AI technologies across many industries.

Furthermore, according to data from a Forrester Research survey, 80% of marketing executives think AI will transform marketing by 2025, enabling previously unheard-of levels of efficiency and customisation.

Furthermore, according to a PwC study, AI-powered marketing technology can improve campaign efficacy and simplify procedures while increasing productivity by up to 20%.

The analyzed data shows that more people are realizing how artificial intelligence can change marketing plans. This predicts AI will keep growing in the next year and beyond, which matches the current marketing trends where AI is being used more to make campaigns better and boost business.

• Virtual Reality (VR) and Augmented Reality (AR) 

Comprehensive Research points to a possible comeback of Virtual Reality (VR) and Augmented Reality (AR) in marketing strategies.

IDC estimates that by 2023, global spending on AR and VR will amount to $160 billion, indicating a notable rise in both investment and uptake of these technologies.

Furthermore, according to a survey by Greenlight Insights, shipments of VR headsets are expected to exceed 28.6 million units by 2023, indicating rising consumer accessibility and interest.

Furthermore, a Deloitte study shows how AR affects customer choices, with 61% of respondents saying they would rather shop at stores that offer AR experiences.

According to a Retail Perceptions poll, 71% of consumers said they would shop more frequently if augmented reality (AR) was accessible, suggesting that AR has the potential to increase foot traffic and revenue.

Additionally, according to data from the Harvard Business Review, businesses that use VR and AR technologies see a 135% increase in engagement, which boosts customer recall and buy intent.

The research-backed findings indicate a promising future for VR and AR in marketing strategies. This focus on innovation highlights a growing awareness of the crucial role that VR and AR play in shaping marketing trends towards more engaging experiences.

Conclusion

Marketing trends still change quickly, which will bring opportunities as well as problems for brands. Marketers can stay ahead of the curve and establish stronger relationships with their audience by adopting the newest trends, such as short-form video content and AI-driven insights. It’s time for businesses to innovate, adapt, and survive in this constantly shifting landscape because the future of marketing is exciting and competitive.

Get in touch with Device Doctor India to learn about the latest marketing trends in 2024. Whether you’re a business owner, marketer, or part of a digital marketing agency, we’re here to help. Our team specializes in providing services specifically designed for digital marketing agencies. We’ll give you expert advice on navigating the ever-changing world of marketing trends.

Contact us today to get started and stay ahead of the game in 2024.