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The digital marketing scene has undergone a metamorphosis as 2024 approaches thanks to the developing trends of 2023. As immersive technologies such as augmented reality and virtual reality (AR/VR) and personalization take center stage, marketers’ horizons are expanded and user engagement is greatly enhanced. These developments are expected to have a revolutionary effect on industry norms and strategy in the years to come.
The worldwide digital advertising industry was estimated at $601.8 billion in 2023, with media advertisements accounting for 67.1% of overall expenditure. It is evident that the digital advertising sector is highly profitable, which explains why more businesses are attempting to take advantage of this trend.
The following 20 developments in digital advertising might influence your 2024 plan:
• Video Advertising Trends
• Social Media Advertising Trends
• eCommerce Advertising Trends
• Audio Digital Marketing Trends
• Content-Centric Trends in Advertising
• Mobile Advertising Trends
• Personalization Trends in Advertising
Mobile devices have altered how we communicate and do business, ushering in an era when video commercials may make or break any marketing effort. There are now more ways for businesses to connect with their target audience thanks to these trends in video advertising.
Consumers of today have little patience for long video advertisements; in fact, more than 25% of respondents said they would quit viewing a video after the first ten seconds. More than half claim to have stopped in 20 seconds or less.
Because of this, marketers resort to bite-sized video advertisements, particularly when they are displayed consecutively (Source: Marketing Sherpa).
What is the ideal length for video ads? According to an analysis, videos on Instagram should not last more than 30 seconds, videos on Twitter should not last longer than 45 seconds, and videos on Meta (formerly Facebook) shouldn’t be longer than one minute.
It has been determined that until 2023, short-form video content will provide the best return on investment (ROI).
Based on a Hubspot survey, Gen Z (57%) and Millennials (42%) prefer short-form videos for product discovery.
54% of social media marketers use it as their main medium, demonstrating their recognition of its power. Indeed, more marketers—33 percent—plan to allocate more funds to short-form video than to any other medium.
The impact of short-form video is apparent, with 83% of users rating it the most successful format. Ninety percent of those who have already invested in short video ads intend to keep doing so or raise their amount.
Presently, short-form video is the preferred medium for modern marketers, as 42% of those who haven’t utilized it yet want to do so.
Customers may peruse and purchase things straight from a shoppable advertisement, as the name implies.
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 advertisements have proved to be incredibly efficient for breaking through the noise and driving customer engagement owing to their interactive aspect.
According to a poll by Samsung Advertising, 55% of people who watch smart TVs remember seeing a shoppable advertisement, and 50% of them had actually engaged with one (Source: Insider Intelligence).
Additionally, Walmart revealed that the typical video campaign conducted using its digital signal processing (DSP) had a click-through rate (CTR) that was at least three times lower than those employing Roku’s shoppable advertisements.
Shoppable advertisements have proved beneficial for other businesses as well, according to their digital efforts.
On-site shoppable videos helped The Fresh Market enhance their approach to consumer interaction. The goal is to provide to its digital channels the same pleasant and welcoming in-store purchasing experience.
The store has seen a considerable rise in engagement rates for videos (113%) and session time (115%) since introducing brief shoppable films to its website.
Similar to this, Stolen Stores used shoppable video throughout their website, utilizing a range of formats to draw users in and boost conversion rates via single-click shopping.
They therefore saw an increase in the average order value of 10%.
Everyone has gone through it. A video advertisement that you are not aware of suddenly begins to play loudly while you are on a webpage.
Many individuals find this condition frustrating; according to Teads, 66% of consumers detest it when video adverts play automatically.
It turns revealed that, depending on the situation, 53–78% of respondents prefer sound off for video advertisements.
Here are other advertising stats that show why sound-off-video ad formats top autoplay ads:
• 85% of Facebook users watch with the sound off (Source: Digiday)
• 79% of LinkedIn videos are viewed without sound (Source: LinkedIn)
• Videos using captions increase viewing time by 12% (Source: Facebook)
Integrating videos into the information that people read is known as outstream advertising. When these films are scrolled over, they play silently and halt when they are out of view.
Statistics indicate that compared to in-stream video advertising, outstream commercials have longer engagement rates and greater click-through rates (CTR).
Another method that marketers are adjusting to these new developments in digital marketing is through captions.
80% of viewers are more likely to complete a video when subtitles are accessible, according to research (Source: Verizon Media).
In the video advertisement released by Amazon in September 2023, a guy talks about his time as an employee.
Captions were used to enhance the storytelling in this dialogue-focused ad.
Social Media Advertising Trends
Social media offers companies an opportunity to establish more intimate and engaged connections with their clientele. Over the last year, the following trends have impacted the social media advertising environment.
When deciding which brands to support, 88% of customers give authenticity top priority (Source: Stackla).
Selena Gomez, a singer and actress, is a great example of real marketing with her Rare Beauty business.
Rather than partnering with well-known influencers and celebrities, the firm chose to engage with approachable producers who really utilize their products. As a consequence, creator material on TikTok accounted for 98% of all campaign conversions.
Another strategy used by advertisers to humanize their businesses is influencer marketing.
The traditional tableware brand Lenox used influencer marketing to change young buyers’ perceptions of its offerings.
The brand worked with thirty-two influencers to present Lenox’s recipes in distinctive, non-traditional household environments.
approximately 900 link hits were obtained by the campaign, which is approximately 400% more than the predicted maximum reach.
The traditional tableware brand Lenox used influencer marketing to change young buyers’ perceptions of its offerings.
The brand worked with thirty-two influencers to present Lenox’s recipes in distinctive, non-traditional household environments.
approximately 900 link hits were obtained by the campaign, which is approximately 400% more than the predicted maximum reach.
Since 2019, the size of the worldwide influencer marketing industry has more than quadrupled, and by 2023, it is expected to reach $21.1 billion (Source: Statista).
According to Grand View Research data, there will be a 33% compound annual growth rate (CAGR) increase from 2023 to 2030 due to the preference for internet influencers over traditional celebrities to advocate products.
Only 16% of influencer marketers deal with accounts that have more than one million followers, while 80% of them partner with tiny producers (1K to 99,999 followers/subscribers), according to Hubspot.
The largest advantage of collaborating with micro-influencers, according to 44% of marketers, is that it is more economical.
As a matter of fact, micro-influencers are used by 56% of influencer marketers.
The emphasis of influencer marketing has shifted from counting followers to including brand alignment and high-quality content.
A sizable segment of social media users, particularly members of Generation Z, like using influencers to find things.
It seems that influencer marketing is not going away anytime soon. Advertisers must, however, have the ability to assess which influencers are most valuable.
eCommerce Advertising Trends
The global eCommerce market contains over 24 million retailers, making competition for firms more fierce than ever. It’s critical to keep up with the most recent eCommerce advertising trends if you want to stand out and draw in clients.
More than 75% of all eCommerce ad spending is attributed to Amazon.
Walmart comes in second with little over $1.5 billion in ad income, behind the eCommerce behemoth with over $7 billion in total.
An estimated 60% of customers say that Amazon is their preferred online retailer.
Because it is more affordable and offers a higher return on investment (ROI) than search engine optimization (SEO) or search engine advertisements, Amazon’s ad income is still growing.
It performs better than U.S. eCommerce sites, which have a conversion rate of only 2.57%, with an average cost-per-click of $0.71 and a 9.58% rate.
Because of this, many eCommerce companies find that advertising on Amazon is a desirable alternative.
According to Threecolts, 78% of Amazon’s global ad spending in 2023 came from sponsored items.
Premium applications and websites including BuzzFeed, Pinterest, Hearst Newspapers, and Raptive are now part of Amazon’s growing list of partners for its Sponsored Products advertisements (Source: Insider Intelligence).
The top and bottom of the page prominently feature sponsored product advertisements. Because 35% of Amazon customers click on the first product, and 64% of all clicks go to the top three, placement is important (Source: Radd Interactive).
It was anticipated that more marketers will use native advertisements in 2023, with nearly a quarter (23%) intending to do so for the first time (Source: Hubspot).
Why is this method becoming more and more popular? Easy to use – it functions!
According to the same report, more than 36% of marketers that use native advertisements think they work, and over 50% of them regard them as their best strategy for increasing return on investment.
Native advertising reaches a new audience without interfering with their experience, in contrast to traditional forms of advertising.
Leading jewelry maker Pandora was having trouble expanding its brand in France by reaching new, premium consumers on a large scale. The organization experienced a 130% boost in conversion rate after using native advertisements (Source: Taboola).
Furthermore, it appears that consumers are viewing native advertisements 53% more often than banner advertising (Source: Sharethrough).
Audio Digital Marketing Trends
Audio advertising is a less-explored but quickly expanding subset of digital marketing. Businesses are now looking to use audio advertisements in their marketing plans due to the rise in popularity of podcasts, music streaming services, and smart speakers.
By putting advertisements into digital audio recordings, businesses can promote their goods and services through audio advertising. Online radio programs, podcasts, and music streaming services frequently play these advertisements.
In 2022, U.S. people spent more time on digital music (1:40) each day than on social media networks (1:15) or watching subscription video services (1:27). This information comes from Insider Intelligence.
Audio advertisements may be easily customized, placed into podcasts and audiobooks, and are reasonably priced.
In particular, podcast advertising has become more popular.
According to Statista, over 82 million Americans listened to podcasts in 2021, with millennials and Gen Z making up the bulk of listeners.
The market for podcasts grew at a compound annual growth rate (CAGR) of 28.4%, from $20.14 billion in 2022 to $25.85 billion in 2023. At a 26.5% CAGR, this is anticipated to reach $66.24 billion by 2027. The Business Research is the source.
To further support the need to spend in this medium, Edison Research discovered that 51% of consumers polled said they paid more attention to podcast advertisements than other media.
More than a quarter (28%) of marketers were forecast to give up voice search optimization by 2023, according to a Hubspot survey from 2023. But in 2024, with more people anticipated to use voice assistants, the digital tides may turn.
Statista research indicates that the number of people using digital voice assistants will increase from 4.2 billion in 2020 to 8.4 billion by 2024. In addition to being utilized for standard functions like playing music or setting alarms, digital assistants are also employed for information retrieval.
Content-Centric Trends in Advertising
Your company has a voice and personality thanks to content-centric advertising, which can range from user-generated material to real influencer partnerships. These trends are all focused on using relevant, high-quality content to build deep connections with your audience.
Any material—text, photos, videos, or audio—created by end users as opposed to brand developers is known as user-generated content, or UGC.
According to Bazaarvoice, 86% of businesses and merchants trust it. The following advertising data assist to illustrate why:
• 62% of consumers prefer customer photos over brand-created images when clicking on content like ads, websites, social posts or emails (Source: State of User-Generated Content).
• Shoppers are 2.4x more likely to perceive user-generated content as more authentic than brand-created content (Source: Stackla).
• User-generated content-based ads achieve click-through rates that are 4x higher than the average (Source: Shopify).
• 85% of consumers prefer visual UGC over branded content when making purchasing decisions (Source: SocialMediaToday).
In addition to being efficient, user-generated content may help you save money on advertising.
According to one research, the cost-per-click for advertising incorporating user-generated content (UGC) is 50% lower than for those without (Source: Bazaarvoice).
According to the same survey, customer-written reviews rank highest in terms of influence across UGC content types (38%), followed by photo/video material (38%), and written reviews from social media influencers (30%).
Only 51% of customers concur with marketers’ 92% assessment that their material is real.
The days of social media giving priority to aesthetics are long gone.
68% of customers choose relevant and real social media material above polished, high-caliber content, according to a poll.
Customers rate relevant material as being the most memorable at 36%, and funny content at 50%. Relatable and fashionable content, however, are tied for first place in terms of ROI.
In spite of this, humorous content is still seen by 66% of social media marketers as the most successful genre.
It’s been reported that humorous material is expected to command the second-highest expenditure among all content categories in 2023; in fact, half of users who already share it on social media intend to boost their spending.
For example, businesses have found success using internet memes to address customer annoyance and casually position their products as the answer. According to a research conducted by New York University (NYU), memes have a 60% greater engagement rate than standard visuals.
According to a Facebook survey, the majority of consumers (71%) expect firms to encourage diversity and inclusion in their online advertising, yet more than half (54%) believe there should be more cultural representation in these commercials.
Brands are using diversity, equity, and inclusion marketing strategies to reach a profitable market of socially aware consumers.
This implies that companies can no longer keep quiet on social issues like LGBTQ+ rights, gender wage disparity, and racial injustice.
The “inclusive revolution” is being led by companies such as ThirdLove, Nike, and Bumble, who showcase diverse individuals of different ages, ethnicities, body types, and sexual orientations in their creative advertising campaigns.
As customer desire for diversity and inclusiveness grows, we anticipate seeing more businesses take similar stands.
Mobile Advertising Trends
Mobile gadgets are here to stay, if there is one thing that is certain. Businesses cannot overlook the influence of mobile advertising, as smartphones are used by the majority of internet users to access the internet. This is the reason why:
Customers are using their mobile devices at an increasing rate. Because of this, tablets and other mobile devices handle more than half of all annual internet traffic.
Companies are constantly searching for efficient methods to connect with more people. Despite the fact that Baby Boomers have the most purchasing power and Millennials make up the majority of consumers, Gen Z’s spending power is growing and needs to be taken into consideration.
A Bloomberg research states that working professionals and younger people had $360 billion in spare income.
Businesses need to give priority to mobile-optimized digital experiences in order to sell to this highly connected, fast-paced audience as this number rises.
Additional advertising data that emphasize the significance of mobile optimization are as follows:
• Mobile web design is a priority for 33% of marketers worldwide (Source: Hubspot).
• Mobile optimization is deemed effective by 64% of SEO marketers (Source: Hubspot).
• 56% of email marketers prioritize providing mobile-friendly email experiences to subscribers (Source: Hubspot).
The global in-game advertising market is expected to grow rapidly, with a compound annual growth rate (CAGR) of 11.2% over the 2021–2028 forecast period, to produce $13,989.6 million in revenue by 2028.
According to a recent Admix poll, 93% of media buyers want to use in-game advertising by 2025. Additionally, it emphasized the subsequent developments in advertising:
• 81% of media buyers plan to maintain or increase in-game advertising spending in the next 12 months. By 2025, 83% aim to fully embrace this format.
• In the U.S., only 33% of media buyer clients currently request in-game activity, while 52% of U.K. clients express interest in this option.
• While advertisers are aware of its potential, there still needs to be more knowledge on effectively implementing it.
Big businesses like Ford, Coca-Cola, and Unilever have already made significant investments in in-game advertisements. Among the businesses that have long supported gaming advertising are Red Bull and Intel, which regularly fund eSports competitions.
Downloads of mobile games rose to 45% in 2020, up from 35% in 2019. In the meanwhile, mobile gaming is expected to surpass 56% of worldwide consumer gaming spending by 2023 (Source: data.ai).
Technology Trends in Advertising
Two of the most talked-about digital developments in advertising are ChatGPT and the Metaverse, but are they here to stay? Here’s how these technologies are altering the landscape of advertising:
AI adoption rates have significantly increased since ChatGPT’s launch in late 2022, and this trend isn’t about to slow down.
By 2027, the AI market will be valued at $407 billion worldwide.
According to a Salesforce poll, 76% of global marketers believe that copywriting and content generation are the most beneficial uses of generative AI.
Regarding the swift integration of AI in marketing, how do customers feel?
According to the Capgemini Research Institute, 62% of customers feel at ease using generative AI in marketing and advertising as long as it doesn’t negatively affect their entire experience.
According to the Capgemini Research Institute, 64% of consumers are eager to purchase things that are advised by AI.
It goes without saying that AI trends in advertising are increasing.
By 2025, 30% of big firms’ outbound marketing communications will be created by artificial intelligence, according to Gartner.
See related post: Meta launches advertising automation and artificial intelligence technologies.
As Mark Zuckerberg put it, “Metaverse isn’t something a company builds.” It represents the next phase of the internet as a whole.
The Metaverse was one of the top 10 trends to watch in 2023, and it will remain so until 2024, according to Forbes. The core technology of the Metaverse, virtual and augmented reality (VR/AR), is projected to expand from $12 billion in 2020 to $72.8 billion by 2024 in spending (Source: Hyperspace).
Leaders in a range of sectors, including gaming, retail, the arts, healthcare, blockchain, and, more lately, advertising, are attempting to establish themselves as important participants in this developing ecosystem.
According to Statista, the metaverse advertising market is predicted to generate $2.52 billion in ad expenditure by 2030.
Personalization Trends in Advertising
Now that they have access to so much data, businesses can produce highly customized and targeted ads for their target market. Customers cherish privacy protection and want more individualized experiences, therefore this trend is here to stay.
According to a Hubspot survey, social media marketers manage four channels on average. Even if cross-posting provides benefits, a lot of marketers are staying away from it these days.
Although 17% of marketers still use the same material for cross-posting, the majority are moving away from this copy-paste strategy.
When sharing their material on other platforms, over half (48%) make changes, and over a third (34%) always start from scratch.
Google declared in May 2023 that, in response to growing privacy concerns, it will gradually stop supporting third-party cookies.
The phase-out procedure will start in the middle of 2024 and proceed gradually.
Cookies are used in targeted marketing to monitor user activity on the internet and provide individualized content.
In an effort to stay current and provide highly tailored content and advertisements, companies have looked at alternate targeting options since Google’s disclosure.
This brings us to signal-based advertising, which is our next topic.
Personalized messages are sent to customers based on their events and behaviors using signal-based marketing, which does not require third-party cookies.
These occurrences, known as signals, might reveal affinities and interests at particular periods.
To what extent does signal-based advertising work?
With its new Amazon DSP function, a self-service option that enables advertisers to purchase intent-driven, non-cookie-based advertisements, Amazon is doing things correctly.
According to a recent article in AdExchanger by Neal Richter, head of bidding science and engineering at Amazon Ads:
Signal-based marketing has grown to be a potent tool for companies to display their adverts in the most appropriate areas at the correct times, based on the present context rather than previous trends, thanks to machine-learning models and Amazon’s extensive array of data signals (Source: Amazon adverts).
Because of this, marketers who use Amazon DSP have seen a 20% to 30% improvement in their ability to reach their target demographic on operating systems like iOS and browsers like Safari and Firefox.
Although it’s a relatively new practice, 29% of marketers have already started using direct message (DM) on social media platforms for customer care (Source: Hubspot).
Making the most of your advertising budget and reaching the relevant audiences is ensured by keeping up with the newest trends.
Working with a digital marketing firm like Thrive can help you advance your marketing initiatives. We can assist you in navigating the ever-changing advertising landscape, from social media advertising to Amazon sponsored advertisements.
To find out how our team can assist you in reaching your marketing objectives, get in contact.
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