Anticipated Marketing Trends in 2024 and How To Make Them Work in Your Business
Technological advancements and shifting consumer behaviors have always influenced the marketing strategies businesses need to set and it will be no different as we move into the coming year. Marketers must not only anticipate these shifts but also embrace the opportunities they present.
Read on for my thoughts on the anticipated trends, as well as suggestions that you can include in your marketing strategy as we move forward into the new year.
Conversational Marketing:
Conversational marketing is an approach to prioritizing real one-on-one connections between brands and customers. It uses various communication channels such as messaging apps, live chat, and chatbots to engage with customers. It is important to navigate away from the purely sales-centric approach with the goal instead being to create ongoing, meaningful conversations that mimic natural human conversation.
We have all experienced the frustration of attempting to break free from the endless loop of automated responses to connect with a real person for assistance. And consumers are demanding more personalized and interactive conversations. As highlighted in an article by PEGA “What consumers really think about AI” Consumers are optimistic about the use of AI but a staggering 88% want to be told how AI is being used by a business.
So, how can you make this work? Rather than adopting a one-size-fits-all approach consider making your AI interactions more user-friendly. Acknowledge and recognize that different types of consumers have unique needs and preferences. It is advisable to incorporate simple elements such as allowing users the flexibility to opt out of chatting with a bot easily. The idea is to create a more personal experience for customers.
live Video
The shift towards live video has been building as users want genuine, unfiltered connections. The good news is this means there is no need for highly edited videos; what resonates now is pure authenticity.
So, how can you capitalize on this trend? By positioning yourself prominently in the minds of your audience. Engage them with live video events, webinars, events and workshops to cultivate a deeper sense of loyalty. Share honest and unfiltered content i.e. a peek behind the scenes and watch how you connect with your audience on a real and relatable level. More brands are prioritizing user-generated video content, not just with “influencers”, to share on their channels.
Omni-channel marketing
It is rare that someone will see an ad and immediately click the purchase button, consumers now take more time to interact across multiple channels of your business. According to Clootrack, “Crafting a superior customer experience requires an average of 30 customer touchpoints.” Or as evidenced by Omnisend, “Marketers employing three or more channels in a campaign boast a 494% higher order rate compared to those using a single-channel approach.”
Keeping these statistics in mind it is advisable to prioritize a diversified marketing approach.
Given the extended timeframe consumers usually take to engage, focusing solely on the sale poses challenges, it is crucial to view the customer experience beyond transactions.
Businesses should deliver consistent, high-value content across diverse channels such as LinkedIn, SMS, TikTok, Pinterest, Instagram, and email, recognizing that different individuals frequent different platforms.
Direct & Personal Platforms
Whether it's sending timely reminders or unveiling new products and services, businesses are increasingly integrating messaging apps into their social media marketing strategies.
Embrace and harness platforms like SMS, WhatsApp and Facebook Messenger to engage with your audience in a direct and personalized manner, fostering two-way communication for a more meaningful connection.
Privacy-Centric Marketing
Driven by a shift in the implementation of stricter data privacy regulations, the emphasis on privacy-centric strategies has become more noticeable than ever. Privacy-centric marketing entails clear and accessible communication regarding how customer data is collected, utilized, and protected.
With the enforcement of data protection laws, businesses are compelled to reevaluate and adapt their data handling practices. Compliance with regulations not only ensures legal adherence but also signifies a commitment to respecting individuals' rights over their personal information.
Businesses must proactively implement strategies to build and maintain customer trust through transparency. This goes beyond mere legal compliance to actively demonstrating a commitment to protecting data.
Strategies may include:
Ensuring the policies are easily understandable,
Regular audits of data practices,
Ensuring that third-party partners adhere to the same privacy standards,
Implementing privacy by design principles in the development of products and services and,
Being upfront about any changes in data practices or security incidents
And of course, the one we are all watching monitoring,
The Use of Artificial Intelligence A.I.
I often get asked about my perspective on the potential takeover of AI. While I can ramble off several reasons why I don’t harbour concerns, the straightforward answer is AI is a tool, not a magic button. Undoubtedly, it can save users time by streamlining and simplifying manual processes. It is important to note that AI can also generate inauthentic content and provide inaccurate information, and importantly you cannot claim sole creatorship of something you used AI to create. For businesses aiming to distinguish themselves and stand out above the generic contact, reliance on AI should be used with discernment.
In the world of content creation, nothing surpasses human creativity and ingenuity. As highlighted earlier consumers are craving human interaction, and becoming less trusting of businesses relying heavily on AI. Forbes shares their take on this sentiment reporting that over 75% of consumers express concerns about misinformation originating from Artificial intelligence. When incorporating AI, a balanced approach should leverage its efficiencies while preserving the human connection.
Curious to hear your take on the emerging marketing trends shaping the coming year.
Share your thoughts with me in the comments!
