Trends to Look For in 2024!
As 2023 comes to a close, now is an important time for social media marketers to plan for next year. Are you ready? SparkShoppe is here to help you get ahead of the New Year by exploring the top trends we expect to influence social media marketing in 2024.
AI
Throughout 2023, we have seen companies start to incorporate AI into their products, notably with Canva’s
AI-powered design tools in Magic Studio and Photoshop’s
generative AI. This trend will likely continue moving into 2024, especially considering that 81% of marketers say that AI has already had a positive impact on their work according to
The 2023 Sprout Social Index. Social media marketers are now able to overcome writer’s block when creating content thanks to new tools like HeyOrca’s
AI Captions. More is on the horizon for 2024. Google Ads recently introduced
generative AI features to its Performance Max campaigns such as asset generation and image editing capabilities. This will allow users to create more asset variety in their campaigns, with new text and images available in a few clicks.
Source: Adobe
Source: Tableau
In addition, AI will be able to analyze data and provide insights. Google has already rolled out Analytics Intelligence to Google Analytics 4, which provides automated insights based on any trends that Google detects. Pulse from Tableau, slated for release at the end of this year, tracks user-selected “priority KPIs” for unusual trends or patterns. These new products will be pivotal in the new year, with 95% of leaders informing business decisions on social data.
Although these new AI integrations are lessening the workload for marketers, it may come at the expense of engagement. A survey by Hootsuite found that 62% of consumers say that they are less likely to engage with and trust content if they know it was created by an AI application. This is especially relevant to the upcoming 2024 election, with Meta announcing a new policy for political ads running on their platforms to disclose if they were generated by artificial intelligence. AI can be a starting point, but creating an authentic experience for customers is crucial.
Streaming
A surge in Connected TV (CTV) advertising is already happening, with platforms like Netflix, Peacock, Paramount+, and Hulu offering ad-supported tiers to customers. These tiers are becoming increasingly popular, with Netflix tripling global users on its ad-supported tier to 15 million since May. This trend is expected to continue into 2024, especially as Amazon’s Prime Video plans to introduce ads starting early next year. It is estimated that Prime Video will add nearly $2 billion “not just to Amazon, but to the whole CTV ad market,” according to Ross Benes, an analyst at Insider Intelligence.
What does this mean for marketers? The cost for running ads could decrease. For example, Disney+ and Netflix’s CPMs have decreased since Q4 2022. The rising popularity means that advertisers are allocating more spend to CTV/OTT advertising, with a projected increase of 39.5% in ad spend from 2023. It’s also becoming easier for marketers to reach and engage with their perfect audience with more precise audience targeting and shoppable ads, which allow viewers to make a purchase directly from an ad. This coincides with AI-driven personalization, which allows advertisers to better tailor their ads to each customer using analytics.
Source: Getty Images
Unpolished Content
Even as AI becomes more prominent throughout the social media landscape, users are still on the hunt for unpolished, user-generated content. A 2022 study from Meta found
a positive correlation between ad recall and lower production value video in technology, retail, restaurant, and e-commerce verticals. According to the study, millennials and Gen Z are experiencing “perfection fatigue,” meaning that they prefer content to be unedited and spontaneous instead of scripted and produced. The strategy is already being used by brands like Duolingo, whose daily active users
were up 62% last year as their social media presence continues to prioritize being entertaining over salesy.
With this content, it is important to ensure that the overall message still aligns with the brand identity. Red Bull strikes this balance, aligning uncut clips of extreme sports with their slogan of “Red Bull gives you wings.” The content can rely on platform-native elements such as templates, polls, and music to give it a human touch rather than a polished feel. With 56% of consumers thinking that brands should be more relatable on social media, this is a perfect avenue to building a relationship between your audience and your brand!
Is your brand’s digital and social strategy prepared for 2024?
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