Predict, Prepare, Propel: Creating Marketing Success in 2024
By Beth Wallace, President, TorchLight Marketing
Navigate the new year with precision and power by embracing these six industry changes
Whether the past year brought triumphs or trials, the new year invites us to reflect and adapt. During this phase, it’s crucial to consider what these six areas poised for innovation will mean for your team in 2024.
Navigating the Crumbling Cookie
The impending demise of cookies calls for a complete overhaul of any digital marketing strategy. Prioritizing first-party data – the information willingly provided by users through activities like account creation and newsletter sign-ups – will be paramount. Traditionally, cookies facilitated precise tracking of user demographics and site traffic, which helped enhance campaign effectiveness. Recently, though, tech giants like Apple, Google, and Mozilla have announced plans to phase out this kind of tracking due to privacy concerns. This, coupled with the mass adoption of ad blockers and VPNs, signifies the end of the reliability of cookie data and a move toward user-provided data that offers unparalleled personalization and micro-targeting. Marketers can encourage users to share information through incentives like discount codes and exclusive content.
AI Opportunities and Ethics
Certainly, artificial intelligence (AI) will continue to make headlines in the new year just as it did in 2023, following the launch of ChatGPT-3. To those skeptical of its relevance to their business, remember, you’re already using it! Your team might not use Bard or Midjourney, but traditional platforms like Meta and Google Ads rely heavily on AI or machine learning to optimize campaigns. Why not seize the opportunity to use large language models (LLMs) as well? These tools are very useful in tightening up copy, creating headlines and text variations for SEM, and for personalizing content.
Important here is a conversation on ethics, specifically the need for transparency when using artificial intelligence. Some companies are choosing to differentiate themselves by branding as “AI-free.” Completely avoiding it on principle, though, puts your team at a disadvantage. Maintain relevance while embracing the new technology by emphasizing the value of human-led content and disclosing when something was created with the help of AI.
The Power of Video
With so many social platforms and so few barriers to entry, it can be hard to make a name for yourself digitally. A cross-platform video approach is essential nowadays, utilizing creatives that can adapt to different platform placements. Vertical clips lend themselves to both paid and organic content on TikTok, Instagram, and YouTube. Additionally, Connected TV (CTV) is steadily growing, with around half of American households having a smart or connected TV. Both targetable and cost-effective, CTV offers yet another outlet for video.
Purpose-Led Initiatives
As Gen Z’s purchasing power grows, align your messaging with their ethos of conscious consumerism to resonate with this target audience. Tap into their values of supporting small businesses, caring for the environment, and acknowledging social causes. Avoid cancellation and controversy by doing research first. Choose causes that align with your brand. Lead with purpose and find what your customer base cares about most. It’s all about being authentic!
Alternative Markets and Unconventional Spaces
While TV spend may be on the decline, out-of-home media is seeing a rebirth. Digital out-of-home (DOOH) advertising fuses both the digital and the physical. QR codes and quick links on displays prompt real-time interaction across the ever-increasing number of targetable DOOH locations. Marketers interested in non-traditional channels can also incorporate direct-to-consumer (DTC) pop-ups and brick-and-mortar displays. DOOH presents opportunities for larger-than-life, high-impact placements that ensure your brand can’t be missed, often at affordable rates with opportunities for reusable creative.
The Retail Renaissance
Speaking of alternative markets, retail media networks have become prolific. While in-store advertising may seem outdated, these networks provide valuable digital channels for advertisers to connect with consumers. Think of them as the e-commerce equivalent of in-store advertising. Amidst the abundance of content on social media, these networks serve as vital bridges for brands to connect with consumers in a relevant and timely manner, making them a valuable part of any consumer product advertising strategy.
In 2024, the marketing landscape will continue to change. From adapting to the loss of cookies and navigating the ethics of AI integration to harnessing the power of out-of-home advertising, the new year will bring both challenges and opportunities. Success lies in your team’s ability to experiment and optimize. Here’s to a year of strategic evolution and continued innovation in the world of marketing!
Republished on Capitol Communicator
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