July 23, 2024

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Trends

 20 ADVERTISING TRENDS TO WATCH IN 2024

 20 ADVERTISING TRENDS TO WATCH IN 2024

INTRODUCTION TO ADVERTISING TRENDS 

Advertising trends are the patterns and shifts in the strategies, techniques, and mediums businesses that are used in the promotion of products and services. In this online world, technology is flourishing rapidly and advertising trends are becoming crucial for staying relevant and effectively reaching target audiences. In 2023, the worldwide digital advertising industry was worth $601.8 billion, and media ads comprised nearly 67.1% of the total expenses. Today, companies are gaining more profit from the increasing popularity of digital advertising.

20 ADVERTISING TRENDS IN 2024 ARE:

  1. Shorter Video Ads

Consumers today don’t have much time for watching the lengthy video with over 25% admitting that they would skip the ad within the first 10 seconds. More than half indicated they would discontinue viewing after 20 seconds. To optimize this, it is decided that Instagram videos should not exceed 30 seconds, Twitter videos will be limited to 45 seconds, and Meta videos will be kept within a one-minute duration.

According to a study conducted by HubSpot, ir short-form video has emerged as the favored format for product discovery, particularly among Gen Z (57%) and Millennials (42%). Recognizing its potency, a significant 54% of social media marketers have selected short-form video as their primary format. Notably, 33% of marketers express their intention to allocate more resources to short-form videos than any other format in their upcoming strategies.

The efficacy of short-form video is clear, with a compelling 83% of users deeming it the most effective format. Among those already investing in short video ads, a substantial 90% have plans to either maintain or increase their investment in this format.

  1. Sustained Popularity Expected for Shoppable Video Ads in 2024

Shoppable advertisements allow customers to browse directly and purchase products within the ad and work to maintain their popularity in 2024. The future of advertising will appear to be centered around shoppable media, with global ad agency professionals foreseeing it as the upcoming frontier in marketing. Demonstrating their effectiveness in cutting through the noise and enhancing customer engagement, shoppable TV ads have been proven to be a standout feature.

Several companies have witnessed positive outcomes by integrating shoppable ads into their digital campaigns. The Fresh Market is an example of strategically employed on-site shoppable videos which works for the enhancement of its customer engagement strategy. Its main aim is to recreate the enjoyable in-store shopping experience on its digital platforms.

  1. Making Noise About Out-Stream Video Ads

We’ve all been there browsing a webpage when an unexpected video ad suddenly blasts at full volume, an experience that leaves many frustrated. A resounding 66% of individuals express their disdain for video ads that automatically play with sound. Surprisingly, a significant 53-78% of people express a preference for having the sound turned off when encountering video ads, a preference that varies depending on the context. So the result is that A substantial 85% of Facebook users opt to watch videos without sound. An impressive 79% of videos are viewed in silent mode on LinkedIn.

The solution for this evolving consumer behavior comes in the form of out-stream video ads. These ads will seamlessly integrate within the content users are perusing, automatically playing without sound upon scrolling over and pausing when out of sight.

  1. Social Media Advertising Trends

Social media provides an online platform for businesses to establish interactive and personalized connections with customers. Authenticity Tops the List of Consumer Demands in Social Media Ads

The importance of authenticity cannot be overstated, with 88% of consumers making it a priority when selecting brands to support. The brand opted for collaborations with relatable creators who genuinely use its cosmetics. This approach resulted in an impressive 98% of total campaign conversions driven by creator content on TikTok. A focal point for advertisers through influencer marketing is also through Humanizing brands. Lenox, a classic dinnerware company will employ influencers to reshape the perception of its products among young consumers.

Data sourced from Grand View Research also indicates a projected 33% compound annual growth rate (CAGR) from 2023 will be driven by the preference for online influencers over traditional celebrities for product endorsements.

  1. Micro-Influencers Gaining Preference Over Celebrities in Influencer Marketing

In the realm of influencer marketing, there’s a notable shift towards favouring micro-influencers over celebrities. According to HubSpot, a substantial 80% of influencer marketers opt to collaborate with small creators, defined as those with follower or subscriber counts ranging from 1,000 to 99,999, while only 16% engage with accounts boasting over 1 million followers.

The appeal of micro-influencers lies in their cost-effectiveness, as highlighted by 44% of marketers. 56% of influencer marketers actively choose to partner with micro-influencers. This shift reflects a transformation in influencer marketing, moving beyond a focus solely on follower count to prioritize content quality and alignment with brand values.

In the digital landscape, particularly among Gen Z, a significant portion of social media users prefer discovering products through influencers, solidifying the enduring relevance of influencer marketing. However, advertisers are now tasked with the crucial responsibility of discerning which influencers provide the most value.

ECOMMERCE ADVERTISING TRENDS

 The competition for businesses has reached unprecedented levels with 24 million eCommere stores globally. Ecommerce advertising trends are important to stand out and attracting customers.

  1. Amazon Dominates eCommerce Advertising

In the strategy of e-commerce advertising, Amazon has established  as the undisputed leader which commands over 75% of the total  remarkable ad revenue surpasses $7 billion, securing a considerable lead over Walmart, which follows with just over $1.5 billion in ad revenue. An estimation of 60% consumers designate Amazon as their favourite online store.

Amazon’s advertising revenue will continues to surge,  by its cost-effectiveness and impressive return on investment in comparison to search engine optimization. With an average cost-per-click of $0.71 and an outstanding conversion rate of 9.58%, Amazon outperforms U.S. eCommerce sites, which typically see only a 2.57% conversion rate.

This attractiveness has positioned Amazon advertising as a compelling choice for numerous eCommerce businesses. In 2023, sponsored products constituted a significant 78% of global ad spending on Amazon.

It can be said that, Amazon is expandingmore of its Sponsored Products ads to include premium apps and websites like Pinterest, BuzzFeed, Hearst Newspapers, and Raptive.

  1. More Brands Will Experiment With Native Ads

In 2023, more marketers were expected to leverage in native ads in the year 2023, with almost a quarter planning to do so for the first time. Like traditional advertising, native ads also promotes the brand to  reach to their new audience without any interruption.For example Top jewelry manufacturer, Pandora, was struggling to reach new audiences at large scale to build its brand in France. After adopting these native ads, the company  increased its conversion rate to 130%.

AUDIO DIGITAL MARKETING TRENDS

 Audio advertising is less explored but rapidly growing area of digital marketing. With the popularity of podcasts, music streaming services and smart speakers, businesses, they are now incorporating audio ads into their marketing strategies.

  1. The Surge of Audio Advertising

Audio advertising is a method of promoting products and services by incorporating ads into digital audio content with experiencing a notable rise. These ads are  featured on digital radio shows, podcasts, or music streaming platforms. According to Insider Intelligence. The importance  of audio ads lies in the cost-effectiveness and  ease of personalization,  for inserting according to statista reports into various audio media such as podcasts and audiobooks.

The global podcasting market has gone through substantial growth which has increased from $20.14 billion in 2022 to $25.85 billion in 2023 at a compound annual growth rate  of 28.4%.

  1. Anticipated Rise in Voice Search Optimization for Advertisements in 2024

In 2023, According to a HubSpot study foresawshows that  28% of marketers would stop their efforts in voice search optimization. So, the landscape is poised for a shift in 2024 with the usage of voice assistants is more likely  to surge. According to Statista’s research, the number of digital voice assistant users is doing the project to reach 8.4 billion by 2024, a significant increase from 4.2 billion in 2020. While these assistants are commonly employed for routine tasks such as setting alarms or playing music.

CONTENT CENTRIC TRENDS IN ADVERTISING

From user-generated content to  authentic influencer collaborations, content-centric advertising is a strategy which gives the brand a voice and personality. These trends are centred around establishing meaningful connections with the audience through the creation of high-quality, relevant content.

  1. User-Generated Content Maintains Its Dominance

User-generated content works to encompass text, images, videos, and audio created by end-users rather than brand creators which is a cornerstone  by 86% of brands and retailers. The compelling advertising statistics will shed light on  enduring effectiveness:

  • 62% of consumers express a preference for customer photos over brand-created images when interacting with content like ads, websites, social posts, or emails
  • Shoppers are 2.4 times more likely to perceive user-generated content as authentic compared to brand-created content.

85% of consumers will favour for visual UGC over branded content.

  •  User-generated content also proves to be cost-effective. Studies indicate that ads incorporating UGC experience a 50% decrease.

The study reveals that

  •  56% of individuals prefer customer-written reviews38% lean towards photo/video content
  • 30% are most responsive to written reviews posted by social media influencers.
  1. Humorous, Trendy, and Relatable Content to Dominate in 2024

The era of prioritizing aesthetics on social media will  given way to a shift in consumer preferences. According to the survey 68% of consumers now prioritize authentic and relatable social media content which will be polished with high-quality visuals. According to the memorability, 50% of consumers rank funny content rank at  the highest, relatable content at 36%. The funny content is  the second-highest investment among various content types in 2023.  Notably, internet memes have emerged as an effective tool for companies to come up from customer frustrations and  present their products as solutions.

  1. Diversity, Equity, and Inclusion  Marketing Takes the Spotlight

In the era of online advertising,

 71% of consumers express the  brands to actively promote diversity and inclusion.  54%  feel that they need to be more culturally represented in online ads, In the burgeoning market of socially conscious consumers, brands are increasingly adopting Diversity, Equity, and Inclusion according to the marketing techniques.This shift implies that businesses can no longer afford to remain silent on pressing social issues such as racial injustice, and the gender pay gap.

As the demand for diversity and inclusivity increases then more brands to follow suit, making DEI marketing a central focus in their advertising strategies.

  1. Mobile Advertising Trends

Now a days mobile devices have become an important part of our daily lives, and its result on advertising is undeniable. As a vast majority of internet users access the web through their smartphones,then businesses will not afford to overlook the significance of mobile advertising because of:

  • The prevalence of mobile devices which includes tablets will contributes to over half of the total yearly internet traffic which in turn increases reliance on mobile access among consumers.
  • To  reach to a broader audience, businesses looking for impactful strategies which constitute the largest consumer group and Baby Boomers wield significant purchasing power, the spending power of Gen Z is rapidly growing and demands attention.

 

Additional advertising statistics will underscore the critical importance of mobile optimization:

  • Mobile web design is a priority for 33% of marketers globally.
  • 64% of SEO marketers consider mobile optimization to be effective.
  1. Capitalizing on the Mobile Gaming Boom in Advertising

The global in-game advertising market is poised to generate a substantial $13,989.6 million in revenue by 2028, experiencing rapid growth at a noteworthy CAGR of 11.2% over the forecast period from 2021 to 2028. A recent survey by Admix provides insights into emerging advertising trends in this space:

  • 93% of media buyers plan to incorporate in-game advertising into their strategies by 2025. Additionally, 81% intend to maintain or increase in-game advertising spending in the next 12 months, with 83% aiming to fully embrace this format by 2025.
  • 33% of media buyer clients currently request in-game activity in the U.S, 
  • 52% of U.K. clients express interest in this advertising market.
  • Leading corporations like Unilever, Coca-Cola, and Ford are already making significant investments in in-game ads.
  •  Companies such as Red Bull and Intel have been early adopters of gaming advertising, frequently sponsoring eSports gaming events.

TECHNOLOGY TRENDS IN ADVERTISING

Two of the most widely discussed technological trends in advertising are 

  • ChatGPT and
  •  Metaverse
  1. AI Takes Center Stage in Advertising

The growing IMPORTANCE OF  of AI in marketing will raise the questions about consumer perceptions. 

  •  62% of consumers express comfort with generative AI in marketing when it does not adversely affect their overall experience.
  • 64% of consumers are open to purchasing products recommended by AI
  •  30% of outgoing marketing messages from large corporations will be AI-generated by 2025 indicating the increasing integration of AI in shaping advertising strategies.
  1. Increasing Brand Investments in the Metaverse for Advertising

According to the Mark Zuckerberg, the Metaverse is not merely something a company builds but it represents the next chapter of the internet. The foundational technology of the Metaverse, virtual and augmented reality, is projected to get the knowledge about the growth, with spending expected to surge from $12 billion in 2020 to $72.8 billion by 2024

Statista data indicates that ad spending in the metaverse advertising industry is anticipated to reach $2.52 billion by 2030 which underscores the increasing focus and investments in advertising within the Metaverse.

  1. Diversifying Content Across Platforms Is Key in 2024

According to the Hubspot survey,it has highlighted that social media marketers, on average manages  four platforms. While cross-posting has been a common practice but many marketers are still steering away from a one-siz that-fits-all approach.

  • 17% of marketers work as cross-post identical content, the prevailing trend is shifting away from mere copy-pasting. 
  • 48%, of marketers are actively modifying their content on different platforms. 
  • 34%, are opting to create unique content from scratch for each platform.
  1. Advertisers Gear Up for the Phasing Out of Third-Party Cookies

Third-party cookies  important and precious role in targeted marketing which enables the tracking of user behavior across the web for the delivery of personalized experiences. Since Google’s announcement, brands are actively exploring alternative targeting solutions to stay relevant and craft highly customized content and ads.

PERSONALIZATION TRENDS IN MARKETING

Empowered by extensive data, brands are now craft highly targeted and personalized advertisements for their audience. This enduring trend will increase  consumer expectations for more personalized experiences while simultaneously valuing privacy protection.

  1. The Rise of Signal-Based Advertising According to Marketers

Signal-based marketing is  a strategy whichworks on  consumer events and behaviours to deliver personalized messages without relying on third-party cookies and is gaining traction.These events, are referred to as signals which will occur at specific times and can reveal consumer interests and affinities.

Signal-based advertising has demonstrated its effectiveness,  by Amazon’s implementation of this approach through its new Amazon DSP feature. This self-service solution enables marketers to purchase non-cookie-based, intent-driven ads.

. Signal-based marketing  allows the brands to use Amazon DSP to engage consumers with relevant, useful advertising, which is opposed to repeatedly showing them an ad for a product they had considered and not purchased

Brands adopting Amazon DSP have  20% to 30% increase in their ability to reach target audiences on browsers like Safari and Firefox.

  1. The Surge of Branded Social Media DM Strategies

By utilizing direct messaging  on social media platforms is a relatively recent practice for customers, but it has already been embraced by 29% of marketers. A Hubspot survey shows that one in five Gen Zers  25% of Millennials have reached out to brands on social media seeking customer support. The trend extends beyond customer support, with brands actively exploring ways to monetize DMs.

Social media engagement is transforming, with a growing emphasis on messaging platforms which prompts its applications to prioritize and increase their direct messaging features. Innovative approaches to monetizing DMs and leveraging messaging platforms for marketing purposes are actively being explored.

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