20 Aug 2024 Marketing Trends
As the marketing environment changes and evolves, new 2024 marketing trends and insights emerge that both marketers and business owners should be aware of. Doing so will help them stay ahead of the curve and anticipate any relevant shifts in their respective industry.
Some trends that marketers are observing in 2024 include the ever-growing evolution of artificial intelligence (AI) technology, and what possible impacts it may have on industries around the world. Additionally, as AI content booms in popularity online – marketers reiterate just how far authenticity as a brand goes when building brand equity and resonance amongst consumers. Another trend that both marketers and business owners should leverage is the growing amount of insights and data that are readily available to key stakeholders at any given moment.
The Future WITH AI
The disruption of AI in the modern world has been hailed by pioneers like Bill Gates as “the most important technological advancement in more than 40 years”. It is important to note that AI technology isn’t anything new. Brand’s have been utilising the benefits of AI for years now – through tools such as Live AI chatbots, Virtual Assistants, VR/AR technology and so forth. However, the recent evolution of the technology over the past few years has given rise to much more incredibly useful and efficient things – such as being able to follow a prompt to transform code language in seconds.
As AI begins to develop and advance at an increasingly rapid rate, it is crucial that business owners are aware of how they can learn to leverage the automations and tools devised by AI to streamline business processes and get ahead of the competition. AI is much more than a fleeting trend – AI is here to stay.
The Importance of Authenticity
After touching on the growing prevalence of AI in industries across the globe – for the foreseeable future one thing can remain certain, people will always relate to authentic content made using human creativity over artificially composed content. Although AI has the ability to automate a month’s worth of tasks in less than a minute – AI is still missing the mark on the ‘humanness’ of human created content. Ask yourself – what piece of content would you rather consume? Content that has been generated in seconds by AI? Or content that was meticulously composed using human ingenuity and creativity? Majority of the time – humans want to read content that has been made by other humans. Therefore, it is important to remain relatable and genuine to be perceived as authentic and likeable to consumers.
Using Data to Help Shape Decision Making
There is no shortage of data in 2024 for business owners. When used correctly insights and analytics from tools such as Google Analytics, can form the basis of how a brand can position their business for growth.
While having a data-driven mindset, it is important to not solely focus on revenue and ROI – but the valuable metrics that are often overlooked such as engagement rate, click-through rate and impression share.
By utilising data available today, you can get ahead of your competitors and identify points of improvements for your brand.
Want to learn more about what strategies you can implement in your business to help connect to your target market? Or perhaps you are not sure as to how you can start to utilise data to your advantage? Contact us today to see how we can help you get a better understanding of the 2024 marketing trends. Book a consultation at https://www.redsteps.com.au/contact/ or call us on 03 8768 9383.