With the advent of technology, there is a huge shift from traditional marketing ways to the modernized form, i.e, digital marketing. The digital marketing world is an expansive landscape with dynamic strategies and trends. As time progresses, marketing trends and techniques undergo major changes and give birth to new strategies. In 2023, the significant growth in Artificial Intelligence set a major milestone in the digital marketing field. Similarly in the coming year, 2024, we will witness a wider revolution in the digital marketing field, which we will explore in this article.
Why are companies increasing their digital marketing budget?
According to IIM Skills, there will be a massive growth to around 650 million internet users in India. This highlights the growing importance of the internet, technology, and thereby, digital marketing. As marketing serves as an important aspect in determining the success of businesses/products/services, companies now invest more in digital marketing strategies. This can be due to several reasons.
● Technological advancement: Unlike the traditional mode of marketing, digital marketing methods, due to development in technology, yields more sales/traffic. Leveraging the full potential of technology not only helps in building a successful online presence, it also helps in generating leads.
● Cost-effectiveness: Digital marketing helps in directly targeting a specific group of potential customers. Investing a small amount in it enables reaching a broader, targeted audience. Moreover, digital marketing helps in analyzing current performance and tracking more details, thereby helping business owners plan better strategies in the future if necessary.
● Change in consumer preferences: Consumer behavior has also become more digitized, unlike in the past when they used to visit stores to buy products. The more user-centric feature of online buying-selling methods has made significant changes in user behavior. Therefore it is essential to invest in modern digital methods to attract customers.
What are the Digital Marketing Trends in 2024?
1) Growth of AI
In the preceding years, we saw the emergence and experimentation of artificial intelligence in various fields. Soon in 2024, we will witness the massive growth of AI and its more ‘intelligent’ approaches in the digital marketing domain. There will be more strengthened use of AI-powered tools and techniques, giving way to more digitized methods.
Extending a more personalized approach using AI helps in creating human-like responses in helping solve customer queries and requests. This will be a superior approach as it helps build a solid connection with the customers and caters to their emotional requirements. Personalization of AI will therefore be a significant strategy for customer interaction and more meaningful connection.
More advanced audio, video, image, and textual content will be produced using AI, improving the current limitations. There will be better strategies to analyze the current business performances. A tactical optimization of different marketing strategies and rectification of current shortcomings using AI will help in skyrocketing business success.
2) Rise of Video Content
Video content is one of the most prominent strategies in the digital marketing field. It has already gained much population from 2020, but there will be more exponential growth in the following years. Video content creation includes either short-form content like Instagram reels or TikTok videos or long-form content like YouTube videos, webinars, or even video podcasts.
Video content is often predicted to be a major marketing trend in 2024 due to its immense result-driven experiences in the past years. As a marketing strategy, video content has been successful in creating better customer engagement and interaction. This has been a principal step in gaining audience trust and likability. Ultimately, the strategy to attract potential customers helps in yielding better results by winning more conversion rates.
According to Pepper Content, people remember 20% of what they hear, 30% of what they see and 70% of what they see and hear together. Therefore, video content will continue to be a perennial marketing tactic. Moreover, video content, due to its cost-effectiveness, is a potential marketing trend not just in 2024, but in the upcoming years as well.
3) Voice Search Optimization
Voice search has been one notable way through which users raise their queries online. Modern-day technology has made it possible through much advanced means such as the introduction of digital assistants. Google Assistant, Alexa, Siri, Teneo, Braina, Cortana, etc. are considered the most popular voice assistants in 2023. In 2024, we can expect more mature and full-fledged voice assistants.
Developing the current capabilities in voice search can be a milestone in the digital marketing field. There is a transition in user search patterns from typing specific keywords to a longer search query via voice search. Therefore optimizing the website for voice search is a strategic approach to attract and convert potential clients. This natural, conversational style of queries opens up the necessity for voice assistants to understand and provide human-like responses back to the users.
Businesses need to keep an eye on upcoming trends and strategies to stay in the loop and reap more success. The digital marketing trends of 2024 include a more tactical approach to the marketing methods of 2023. There will be more revolutionary contributions of technology in the marketing field, thereby ensuring the success of businesses from small start-ups to large enterprises.
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