Marketing is evolving rapidly, and five emerging trends will significantly impact the industry in 2024.
Marketing is evolving rapidly, and five emerging trends will significantly impact the industry in 2024. To stay ahead of the competition, marketers must understand these trends. We explore these trends with real-world examples, helping you navigate the coming marketing climate with confidence.
In 2024, artificial intelligence (AI) will take conversational marketing to the next level. Chatbots have already changed customer interactions but often lack a personal touch. The next frontier will be to make these bots intuitive, thoughtful, and shockingly human-like. For example, Soul Machines have developed Digital People - incredibly lifelike AI-powered assistants with emotional intelligence to engage customers. These one-on-one interactions feel natural but offer the consistency and quality control of automated systems. Such AI could be a game-changer for customer service and market research.
Forward-thinking marketers are moving fast towards integrating virtual reality (VR) and augmented reality (AR) with their strategies. By transporting customers into carefully crafted worlds, brands can establish deeper connections. For example, The North Face used VR to promote its Denali jacket line, allowing users to scale Mount Everest. Not only did this produce exhilarating experiences, but it also reinforced the core product benefit of protection against extreme weather. Travel companies are also jumping on board by providing virtual tours of holiday destinations. As the tech advances, VR and AR are set to deliver ROI like never before in areas like lead generation and sales enablement.
Today’s customers, especially millennials, expect transparency from brands regarding social responsibility. By 2024, making a positive global impact will become non-negotiable. Patagonia offers a great example of purpose-driven marketing - its Worn Wear program educates people on reducing waste through repairing and recycling clothes. At the same time, its environmental grants reinforce its brand values. Toms Shoes is another inspirational case where every purchase helps provide shoes, sight, water or safer births for those in need. Forward-thinking brands will realise they must integrate philanthropy into their core marketing strategies to attract and retain the next generation of talent and shoppers.
Bye-bye, bland batch and blast techniques; hello, intelligent automation! AI is entering marketing automation to provide a ‘segment of one’ personalisation fueled by predictions. Software leader Salesforce is pioneering this space with Einstein Campaign Management. This seamlessly picks up signals based on past engagement to serve dynamic content aligned with customer needs. So, while browsing products online, a shopper may suddenly see a discount code for something they showed interest in earlier. Such contextually relevant experiences feel less like impersonal marketing and more like a thoughtful personal assistant. Another exciting innovation is AI’s ability to test messaging variations across multiple campaigns and channels to determine optimal engagement.
One trend that marketers need to have on their radars for 2024 and beyond is the metaverse - an immersive virtual world that replicates our physical reality. Major companies like Microsoft, The Walt Disney Company and Walmart are developing a presence on metaverse platforms where people can play games, attend events, shop and interact using avatars.
First, it unlocks opportunities to build branded virtual worlds where customers can escape and forge meaningful connections with your products, services or causes. Education and mental health sectors are already spearheading this area.
Second, having a space in popular metaverses could help reinforce your relevance, especially among GenZ. Metaverse marketing still has vast untapped areas, so the longer you wait, the further your competition gets.
While the above trends may seem complex today, they will likely be commonplace by 2024 as technologies mature and costs decrease. However, marketers must become early adopters for businesses to harness these emerging spaces effectively. They must invest time to understand implications, weigh risks versus rewards, upskill teams, and gradually execute small-scale pilots.
Those bold enough to make this pioneering leap could gain an invaluable competitive edge over old-school players. The marketing world of 2024 might seem strange and surreal today, but the future belongs to those who build it.
