As 2023 draws to a close, we can’t think of a better time to turn our look toward the future and start getting excited about what 2024 might hold. With advancements in AI, the enduring influence of TikTok, and the increasing rise of virtual influencers, this year has the digital marketing landscape poised for big shifts in 2024
These six predictions offer insightful glimpses into the upcoming trends we think will shape the trajectory of how we promote brands online. Join us as we explore the many possibilities that 2024 holds for marketers and businesses alike.
Let’s get stuck straight into the numbers. The exponential growth in digital ad spend, which was more than 10% higher in 2023 than it was in 2022, is set to continue in 2024.
Influencer marketing and search marketing were two of the biggest players in 2023’s digital marketing world. And surprisingly, it wasn’t entertainment giants leading the charge. Instead, the health industry took the crown as the largest sector outside of retail for marketing spend, signalling a profound shift in consumer priorities.
Leading neatly on from the news that the health industry is the next big spender in digital marketing, it’s not surprising that the healthtech industry is also seeing exponential growth. Now that our phones can track our fitness habits and monitor our levels, healthtech has quickly and subtly become a part of our everyday lives. But with the evolution of AI, it is set to become even bigger.
Female health will also reap the rewards from this, as the FemTech industry is predicted to further grow and continue in that upward trajectory in 2024. Making this the perfect time for femtech and healthtech brands to focus on their digital marketing strategy.
Taking a leaf out of the D2C book, B2B marketing channels like LinkedIn are revamping its algorithms to align with other social media channels. This puts a spotlight on video content and user-generated posts, setting the stage for the rise of “LinkedInfluencers” in 2024.
We predict that the voices of LinkedIn will gain even more prominence as influential figures, as long as they understand how to leverage the platform’s evolving algorithm. This has the potential to not just make new stars on the platform, but to transform the channel itself into a hub where thought leaders and industry experts shine through as influencers currently do on TikTok.
Talking of TikTok; don’t expect it to go anywhere in 2024. The social media giant has survived attacks on its data policies and potential government bans, and it’s not likely that its user base is about to jump ship for another platform (as many have tried to make happen). So in the New Year, you might want to add a new section to your digital marketing strategy: T2B, or TikTok Business, Marketing.
Innovative as ever, TikTok has recognised the shrinking of the gap between social media marketing and B2B. As such, it has launched a collaboration with HubSpot to streamline lead generation through their platform. So while LinkedInfluencers become more focused on D2C methods of marketing, TikTok will be edging closer to the corporate B2B space.
Artificial Intelligence is gearing up for an unprecedented surge in 2014, as enhanced algorithms will delve deeper into consumer behaviour, helping brands to transform their marketing strategies even further. Predictive analytics will reach new heights, so that marketers will be better able to anticipate trends and user preferences with uncanny accuracy.
In terms of business, automation offered by AI will reap benefits in HealthTech and FemTech in particular. In the influencer landscape, AI-generated virtual influencers have the potential to take centre stage. But as AI becomes more integrated, privacy concerns will mean that brands need to make weighty ethical decisions.
Digital PR could be the way forward when it comes to crafting comprehensive digital marketing strategies in 2024. Combining the compelling narratives of traditional PR with emerging native and programmatic advertising channels has the potential to take brand marketing to new heights. This integration can lead to a more cohesive brand presence across all platforms, maximising visibility and engagement with new audiences.
OggaDoon specialises in guerrilla communications and marketing to gain you reach.