As we near the end of 2023, Crowd, like many other agencies, are looking forward to the new year wondering what comes next. Through experience and unique insight we have come up with 7 key trend predictions which we think will materialise in 2024. Buckle Up!
1. The Upward Trajectory of Social Commerce
In response to the recent rise in the popularity of in-app purchases, earlier this year industry juggernaut TikTok launched an innovative logistics program aptly named, ‘Fulfilled by TikTok’. The aim of this program is to streamline the in-app purchasing process at every stage of the supply chain, transforming the way merchants connect and exchange with their consumers.
With TikTok Shop already being home to more than 200,000 registered sellers, it is obvious that the popularity of in-app purchasing will only increase and other social platforms will begin to take a leaf out of TikTok’s book.
2. The Rise of UGC
In order to be successful in social commerce, promotion on social media and other channels is a must. You can either do this yourself or by incentivising people to do it for you. This is User Generated Content, also known as UGC.
UGC is a convenient and cost effective way to raise brand awareness and increase demand for your products without the necessity of traditional marketing channels. UGC provides consumers with raw, unstaged and authentic product reviews from relatable sources which can immediately give your brand a more approachable demeanour.
3. Increased use of Machine Learning and AI
This prediction is somewhat of a no brainer, especially considering the current rate at which AI is being applied to almost every facet of marketing. Reliance on AI by marketers will only increase as we continue to uncover its applications, especially those which can make the minutiae of marketing quicker and more efficient.
4. Using AI to Optimise Email Marketing
One such examples email marketing. It has been suggested that efficiency of email marketing can be optimised by applying AI and other machine learning based technologies as they can assist in many of the more time consuming processes like scheduling, sending, content creation and more.
5. A Call for More Personalised Content Experiences
Personalised marketing is far more than simply placing someone's name at the beginning of a marketing email or greeting someone when they visit a site. Personalisation of the consumer experience is about tailoring messages to a specific person, providing them with the right suggestions and at the right time.
Personalising marketing messages can incur huge benefits for your business as personalisation can improve the customer experience and thus potentially concrete their loyalty to your brand. Improving customer loyalty results in increased customer retention which can generally improve your return on investment.
6. Increased Attention to Data Privacy
After reading the above, you’re probably thinking: this sounds too good to be true, and that's because it is. Increased personalisation of marketing messages and tailored advertising has got people thinking about how and where this brand or that brand has acquired their data and moreover, if they have that, what other data do they have access to. Scandals such as Facebook’s Cambridge Analytica and a myriad of other data breaches by big corporations have made people more weary of what they’re sharing online and who has access to it.
By way of mitigating this growing concern, marketers are looking to be more transparent about their data collection, gathering consent and ensuring consumers know what information is being harvested and for what reason. Being transparent about data collection and privacy ensures the trust between merchant and seller is maintained.
7. Rise in Video Marketing
Thanks to the boom in popularity of short form video platforms like TikTok, video content is now considered to be an essential component of any marketing strategy. Advances in technology have meant that video content can cater to the needs of any audience and has become a powerful way for businesses to connect with their consumers. We are not necessarily suggesting that in order to boost your engagement you need to jump straight onto TikTok to make your first vid. However, incorporating video into your content calendar or overall marketing strategy can help you access potentially untapped target audiences and humanise your brand.
If you would like to get ahead of the curve and implement any of these trends into the way you market your business, please get in touch with us today!
