2024 promises to be a booming year for the Marketing industry with the rise of new trends. And here are the Brandwatch 2024 Digital Marketing Trends that you can refer to & apply, shared by Optimalmk.
What is digital marketing?
Digital marketing, also known as online marketing, is the practice of promoting a brand, product or service through online channels such as search engines, websites, social networks, email, webinars and mobile apps. In simple terms, digital marketing is any marketing effort that uses electronic devices, software and the internet to create and promote marketing campaigns.
Brandwatch 2024 digital marketing trends
1. Consumer attitudes toward AI advertising are becoming more positive
Reports in the first half of 2024 show that consumers seem to have changed their attitudes toward AI-created products. According to Brandwatch, 81% of consumers prefer to shop with brands that offer personalized, AI-powered services.
Marketers, therefore, seem to have a growing belief in AI. 75% of CMOs believe AI has a positive impact on marketing. Of these, 12% of CMOs see improvements in time and speed as the top benefit of AI investment, followed by improved cost effectiveness (9%). Only 5% of CMOs Say They’re Not Investing in 2024 (Source: Gartner)
2. Gen Zers Have New Concerns
Gen Z’s mental lives seem to be getting more and more stressful with new concerns. According to HumanKind, 50% of Gen Zers believe the financial system is causing them a lot of competition, more than Baby Boomers at 28%. However, this generation is also facing concerns that screen addiction will negatively affect real-life relationships (58%).
However, they still can’t live without the internet. Gen Z is considered to be the most addicted generation to the internet, while they need $54,169 a year to stop using this tool (According to a survey from IAB). When the average generation spends more than $37,000. They’re also willing to spend a lot — about $229.14 a month to continue using sites and apps that are currently free, up from an average of $163.50.
3. Social Media and Influencers Are Growing in Power
According to Hubspot, 21% of social media shoppers say they bought a product based on an influencer’s recommendation, up 33% from the previous year. In particular, 43% of Gen Z and Millennials purchased a product directly on a social media platform in the first quarter of 2024 alone. These figures continue to reinforce the growing influence of social media and celebrities on consumer behavior.
However, this rapid growth has also raised many concerns. Of which, up to 67% of users believe that social networks are harmful to the health of teenagers (According to: HumanKind)
4. Media & Martech continue to be invested more heavily
According to a figure from Gartner, the level of speculation in media tools is expected to increase from 25.6% of spending to 27.9% YoY. In particular, total spending on media tools will remain stable despite the possibility of a decrease in marketing budgets.
However, Martech also continues to be used more widely, accounting for about 23.8% of the budget. However, compared to the technology fever in 2018 (29.2%), the % of spending on this industry seems to have decreased slightly.
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