As we approach the end of the year, we decided to run for the second time a series of surveys and data research to create a “Marketing Trends” study for 2024, highlighting key insights that will shape the advertising landscape in the coming year. Drawing on the expertise of over 65 marketing leaders from renowned brands worldwide, including L’Oréal, BBVA, Mondelez and Unilever, among others, the report provides a comprehensive view of emerging trends and explores key findings on artificial intelligence, ad targeting and optimization, social media, and sustainability.
The research aims to anticipate the adoption levels of trends, innovations, and key technologies in the industry, spanning from the analysis of consumption patterns in digital communities to sustainability and artificial intelligence. The combination of thorough research, social listening through its insights agency and research Capture Intelligence, and subject matter expertise has allowed for the compilation of forecasts, metrics, and practical insights. The goal is to provide tools for building robust marketing strategies. The report includes data from various countries, such as Peru, Colombia, Bolivia, Argentina, Spain, the UK, Brazil, Switzerland, Portugal, and Chile.
The marketing landscape is experiencing a dynamic shift this year, emphasizing the importance of automation and personalization driven by artificial intelligence. Preferences on social media are evolving, giving greater significance to content creators. An increase in marketing budgets and a growing interest in measuring environmental impact are observed. According to Samy Alliance, the trends for 2024 will be divided into three areas: AI, a radical change in social media and communities, and the integration of sustainability into business models.
Artificial Intelligence: A Year to Revolutionize and Improve Processes
The year 2024 marks the implementation of AI in key operational areas. From content generation to strategic personalization, AI is prominently integrated into the customer experience, content creation, and ad targeting. The study reveals a significant increase in AI adoption, with 68% of companies using AI for content generation and 78% for customer understanding and personalization through social listening services.
The integration of chatbots and virtual assistants enhances customer service, while AI-driven predictive analysis and sentiment analysis optimize advertising campaigns and assess environmental impact. Contrary to the perception that AI is mainly for optimizing or automating tasks, the study data demonstrates that the use of these technologies has more than doubled as tools in the creative field.
Within our results, three interests related to AI stand out:
Improving Customer Experience:
- Marketing professionals unanimously highlight the fundamental role of AI in improving the overall customer experience, from personalized interactions to optimized operational efficiency.
Precision in Advertising Segmentation:
- The ability to analyze vast datasets in real-time allows for a nuanced understanding of the audience, leading to precisely targeted campaigns and better return on investment. This helps combat “ad fatigue” generated by excessive exposure to digital advertising.
Evolution of Content Generation:
- While traditionally lagging in AI utilization, the survey indicates a significant uptick, especially in creativity. This area, often considered resistant to automation, has shown notable growth compared to the previous year’s survey. This underscores a paradigm shift, with marketers increasingly recognizing the potential of AI to catalyze creative processes.
Social Media: Relevant Channels, Highlighted Communities, and Leveraging Influencer Marketing
The report not only highlights social media and its relevance in marketing plans but also addresses digital communities and the impact of influencer marketing. Instagram leads with 86% importance, followed by Google, YouTube, and TikTok. However, when it comes to increased investment, TikTok is the leading platform, showing a preference for unique engagement strategies. Emerging platforms like WhatsApp Business offer opportunities for unique engagement strategies as they allow for a more direct connection with users, both for interaction and loyalty, with an intended usage rate of 28% in 2024. Advertising budgets show significant increases on Instagram and TikTok, indicating a continued preference for these digital channels, and the report emphasizes the most important areas for digital communities and their needs for the coming year.
Brands seek to be increasingly close to their customers, and that’s why 18% of them will initiate social listening activities for the first time in 2024, a 5% increase from the previous year. This will impact advertising strategies, affecting aspects from content format to the choice of influencers for outreach campaigns. In fact, 74% of respondents stated that they would give more importance to micro-influencers, who seem to have greater penetration and final conversion than celebrities. All these data reflect a growing emphasis on authenticity, specialized knowledge, and highly engaged audiences in marketing strategies in 2024.
Sustainability: The New Core of Business
Our paper reveals a growing environmental awareness in marketing strategies. 58% consider measuring environmental impact relevant, but challenges like the lack of measurement services and additional costs persist. Despite these obstacles, there is a growing commitment to sustainability, with 16% already measuring the impact of all campaigns. This is also a response to community needs, which increasingly demand not only products but also environmentally conscious communications.
All this information unveils the evolution of consumer preferences, highlighting the role that digital advertising, influencer marketing, and social media will play in modern marketing strategies. It also indicates a gradual shift away from traditional and specific content platforms in favor of experimentation and bringing human interaction into the digital sphere, if such a concept exists.
Finally, to finish the report and to face 2024, we came up with 5 commands:
embrace digital transformation
diversify the marketing mix
be optimistic in budgets
integrate marketing holistically
make data-driven decisions.
If you want to read the full report, check it out here: Marketing Trends 2024 by SAMY Alliance.