Marketing trends come and go — sometimes, quite quickly. What attracts attention and promotes engagement today may fade tomorrow, replaced by the next big thing. As such, keeping up with the most recent marketing styles is not easy. However, it’s important to stay aware of and tap into the biggest shifts in the industry. After all, in order to compete in a fast-paced market and maintain relevance, you must stay ahead of the competition. What’s a business owner to do? Learn about the larger marketing trends of 2024, and how to apply them to your business strategy right away. Let’s go.
The global market value for AI in marketing is expected to reach $36 billion USD in 2024. So, where does the enticing potential of AI lie for marketers?
Today, artificial intelligence and machine learning (ML) can be used to handle all kinds of tedious marketing tasks, such as:
Marketers have a lot on their plate. As a small business owner, you may even be your own one-person marketing team at the moment!
There never seems to be enough time in the day to develop, implement, monitor, and report on marketing activities. While getting new clients is essential, retaining the old ones is just as important. After all, it’s typically more expensive to acquire customers than it is to retain and sell to ones who are already in your orbit. And, loyal customers tend to spend more and refer their friends and families to their favorite brands.
Marketers and business owners can leverage marketing automation tools to offload the most tedious and time-consuming tasks, so they can focus more on crafting the thoughtful messaging and experiences that keep loyal customers around.
Customers today want genuine reviews from real people—those that display the real thing rather than a glossy facade. Therefore, they are more inclined to test a product or service recommended by someone they know and trust.
Influencer marketing, a partnership between a business and an individual with a niche and online followers, has become big business in the digital age. This trend is sure to continue beyond 2024, as more firms use influencer marketing to build brand recognition, trust, and even set new trends within their audience.
In 2016, the influencer marketing industry was valued at $1.7 billion. By 2023, the industry had already surged to $21.1 billion. Despite challenging economic conditions, forecasts from Influencer Marketing Hub indicate that this growth will continue, with the market projected to reach $24 billion by the end of 2024.
Today's markets are driven by customers' demands and wants. As technology advances, those demands shift, and brands that want to stay above water must adapt to these changes.
The use of augmented reality (AR) and virtual reality (VR) is a growing trend in marketing and sales methods. These tools allow companies to provide fresh experiences to their customers, often from the ease of their mobile devices.
These innovative technologies create a whole new level of interaction. For example, augmented reality can overlay digital information over real-life objects or environments to create an exciting, hybrid experience. Take for example IKEA’s app that helps consumers see the brand’s products in their rooms. Meanwhile, VR can take viewers to entirely new locations, such as a virtual racetrack, displaying how a new car or vehicle accessories may feel in (almost) real life.
With this, customers can test items or services in a virtual environment before buying. It improves the customer's understanding of the product, and gives a memorable, engaging experience that boosts brand loyalty.
For brick-and-mortar businesses, there’s a secret marketing tool that’s 40,000 years old.
Music!
Music may be one of your best marketing tools for drawing customers into your shop, where you can then close sales in a face-to-face setting. In fact, music can have a major impact on this entire experience and even enhance your brand’s first impression.
Therefore, you should apply this marketing trend wherever possible. Music has the power to provoke strong emotions. So, build a playlist that matches the tone of your business and how you want your shoppers to feel: joyous, nostalgic, enthusiastic, etc.
It doesn’t matter if you’re running a retail store, restaurant, or fitness club. Incorporating music into your physical location can make a big impression on customers and set your business apart from the competition.
We’ve covered a lot in this blog, but there’s one common theme that runs throughout all of the 2024 trends we’ve discussed. From AR and VR to AI, music, and influencer marketing, the focus is clear: It’s all about the user experience.
To remain relevant in an evolving digital world, your business must apply these marketing trends to make “user-first” the foundation of your growth strategy.
