Back in October 2023, I delved into the digital marketing trends for 2024. Since, I've continued to focus my research by looking at the US market for insights.
I believe there are big shifts happening in 2024 that will impact all marketers.
I could be entirely wrong, but here's my prediction and breakdown of key trends in digital advertising I think have the potential to shape 2024's digital landscape:
More Predictable Digital Ad Spend: The wild swings in digital ad spending are becoming less frequent. Seems we're entering an era of steady growth, and less unpredictability. Experts expect a compound annual growth rate (CAGR) under 10% through to 2027. I'm no finance genius, but sounds like a mature market no? Also, it's a lot less gloomy than the 2023 predictions we previously had us believe back in 2022.
Cookie Phaseout Leading to Mergers: This is big...huge actually. With cookies going away in 2024 (announced by Google), there's a big push for mergers among ID providers. It's like a major reshuffling in the digital ad world, possibly leading to big players like Apple rolling out new platforms. Oh, can't wait!
AI Revolution in Advertising: AI is not just for tech geeks anymore. It's making a big splash in creative planning and targeted advertising. This will change how we reach audiences.
The Changing Face of TV Measurement: Remember Nielsen, the guys who can measure and provide massive TV insights "Audience is Everything"?
Anyway...
They've adapted to the new TV landscape, like connected TV. They're still a big deal, and I'm sure they will leverage their digital savvy to stay relevant. I'm keeping an eye on their reports, insights and new measurement KPIs since it might be setting new standards for all of us interested in paid channels.
Demand for Unified Digital Experiences: As traditional TV fades, people want smoother, more integrated streaming experiences. It's all about making it easier and more affordable to jump between services without a headache.
If you have an Apple TV, you'll see how Disney+, for example, now blends in much better than Netflix into your highlighted programming. This is not a coincidence, and there will be a lot more of this happening soon.
Rise of Ad-Supported Streaming: Ads in streaming aren't just a possibility. They're becoming the norm (sadly). Big names like Amazon Prime are joining in, too. I think its a signal of a shift in how we watch and will monetize content.
Collabs Amongst Smaller Digital Platforms: Smaller digital platforms are teaming up with the big guys to stay in the game. Think of Pinterest teaming up with Amazon to enhance ad offerings or Google Ad Manager’s partnership with X (ex-Twitter). This trend shows how strategic partnerships can help smaller platforms leverage larger networks for growth and visibility. I've got my money on Reddit striking a similar type of deal soon.
So there are the events I think are currently reshaping how we connect with audiences in the digital space. If anything, 2024 is looks like a year of adaptation and change for most marketing teams. Changes are good, and I look forward to working on new creative strategies.