Marketing Trends to Watch
You can’t afford to ignore the trends and challenges that will impact your marketing efforts – and help you achieve your goals. The breakneck speed with which data, CX, AI and digital transformation are advancing can make it difficult to keep up. Here we discuss some of the challenges you can expect to face in the coming year.
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Marketing Trends and Strategies 2024
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Adapting to the new digital era
You can’t afford to ignore the trends and challenges that will impact your marketing efforts – and help you achieve your goals.
The digital transformation trend will continue to impact your marketing in 2024. The shift to digital marketing has changed the way businesses communicate with customers – and you need to adapt with it. By embracing digital transformation, you can improve your marketing ROI and stay ahead of the competition. The revolution also means, however, that you will face challenges such as data privacy concerns and the need to create personalized experiences for customers.
Did you know?
Over 90% of leading businesses have ongoing digital transformation initiatives.
There are now 5.56 billion unique mobile subscribers globally, almost 69.1% of the world’s population as of July 2023.
The number of IoT devices is projected to grow to 41.6 billion by 2025 providing you with countless new data points and engagement platforms.
There is no alternative to digital transformation. Visionary companies will carve out new strategic options for themselves — those that don’t adapt, will fail.
Leveraging automation for better marketing
AI will impact your marketing in more ways than ever in 2024. AI can help you automate tasks, analyze data and streamline work processes. You can also use AI to identify patterns and trends that could be difficult or impossible to detect manually. As AI becomes more prevalent, you’ll need to learn how to use it effectively.
Did you know?
AI spending is expected to hit USD $300.7 billion in 2025.
By 2025, AI will recover 10.9 billion hours of worker productivity.
AI chatbots could drive up to 85% of customer service interactions by 2025.
AI will be the most disruptive force in marketing over the next five years. It will change the way we target, personalise and measure our marketing campaigns
Prioritizing seamless interactions
Customer experience has always been important – but in the coming year it will become even more crucial. Focus on creating a seamless customer experience across all touchpoints, including social media, email and in-store. Data can help you understand customer behavior and create personalized experiences.
Did you know?
Companies that prioritize customer experience outperform others by nearly 80%.
84% of companies focusing on customer experience report an increase in revenue.
By 2025, more than 60% of all consumers will actively seek brands they can have a direct and authentic relationship with.
Customer experience is not the icing on the cake, it is the cake.
Balancing customer trust with business needs
The breakneck speed with which data, CX, AI and digital transformation are advancing can make it difficult to keep up. Let’s examine some of the challenges you can expect to face in the coming year.
Data privacy is a concern for your customers and for your business. As people become more aware of how their data is being used, they expect transparency and security. You need to be clear about how you collect and use customer data and ensure you comply with data privacy regulations.
Did you know?
81% of Americans are concerned about how their data is used by companies.
91% of consumers feel that companies benefit more from their data than they do.
In 2021, TikTok was fined $92 million by the US Federal Trade Commission for collecting the personal data of children under the age of 13 without their parents’ consent.
Data privacy and integrity are essential to building trust with customers and maintaining a competitive edge. Companies that fail to protect customer data will lose customers, damage their reputation and face regulatory penalties.
