Top Significant Advertising Trends in 2024

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As 2024 dawns, the digital marketing landscape has been revolutionized by 2023’s emerging trends. Personalization, artificial intelligence and immersive technologies like augmented reality or virtual reality (AR/VR) have taken center stage, vastly enhancing user engagement and broadening the horizons of marketers. These advancements promise a transformative impact on strategies and industry standards for years ahead.

The global digital advertising trends market was valued at $601.8 billion in 2023, with media ads accounting for 67.1% of overall expenditure. Clearly, digital advertising is a lucrative industry, and it’s no surprise that more companies are finding ways to capitalize on this trend.

Here are trends that could shape your strategy in 2024:

Video Advertising Trends

Mobile devices have transformed how we connect and do business, ushering in an era where video advertisements can make or break your marketing campaign. These video advertising trends open up new opportunities for businesses to reach their target audience.

Video Ads Keep Getting Shorter

Today’s consumers have a low tolerance for lengthy video ads – over 25% of adults admitted they would stop watching a video within the first 10 seconds. More than half say they would stop within 20 seconds. How short should video ads be? An analysis found that Instagram videos should not exceed 30 seconds, Twitter videos should be limited to 45 seconds and Meta (previously Facebook) videos should be no longer than 1 minute. Short-form video content has been found to yield the highest return on investment (ROI) throughout 2023.

A Hubspot study shows that short-form video is the preferred format for product discovery among Gen Z (57%) and Millennials (42%). Social media marketers have also recognized its power, with 54% choosing it as their primary format. In fact, 33% of marketers plan to invest more in short-form video than any other format. The effectiveness of short-form video is undeniable, with 83% of users considering it the most effective format. Of those already investing in short video ads, 90% plan to maintain or increase their investment. Meanwhile, 42% of marketers who haven’t used short-form video plan to give it a try, making it the go-to format for today’s modern marketers.

Shoppable Video Ads Set To Sustain Popularity in 2024

As the name suggests, a shoppable ad enables customers to browse and buy products directly from the advertisement. Shoppable media is the future, with 57% of ad agency professionals worldwide believing that this type of advertising will be the next frontier. Shoppable TV ads have proven to be highly effective for cutting through the noise and boosting customer engagement due to their interactive nature. Samsung Ads’ survey revealed that over half (55%) of smart TV viewers recall seeing a shoppable ad, with 50% having interacted with one (Source: Insider Intelligence).

Walmart also reported that click-through rates (CTR) for campaigns using Roku’s shoppable ads were at least three times higher than for average video campaigns run through its digital signal processing (DSP). Other companies have also seen positive outcomes from using shoppable ads in their digital campaigns.

The Fresh Market used on-site shoppable videos to improve its customer engagement strategy. The goal is to replicate the enjoyable and inviting in-store shopping experience on its digital platforms. By adding short shoppable videos to its website, the retailer has observed a significant increase in engagement rates for videos (113%) and session time (115%).Similarly, Stolen Stores utilized shoppable video across their website, employing a variety of formats to engage visitors and increase conversion rates through one-click purchasing. As a result, they experienced a 10% rise in the average order value.

Sound Off for Out-Stream Video Ads

We’ve all experienced it. You’re browsing a webpage, and an unseen video ad suddenly starts blaring at full volume. It’s a situation that frustrates many – with 66% of people saying they hate it when video ads automatically play with sound (Source: Teads). As it turns out, 53-78% of people prefer sound off for video ads, depending on the context.

Research shows that 80% of consumers are more likely to finish watching a video when captions are available (Source: Verizon Media).In Amazon’s September 2023 video ad, a man shares his experience working for the company. Source: Amazon Captions were used to enhance the storytelling in this dialogue-focused ad. Social Media Advertising Trends Social media gives businesses a chance to connect with customers in a more interactive and personal way.

Consumers Demand Authenticity in Social Media Ads

Authenticity matters: 88% of consumers prioritize it when choosing brands to support (Source: Stackla). Singer-actress Selena Gomez’s Rare Beauty brand is a prime example of authenticity in marketing. Instead of working with celebrities and high-profile influencers, the brand collaborated with relatable creators who genuinely use its cosmetics. This resulted in 98% of total campaign conversions driven by creator content on TikTok.

Influencer marketing is also one way advertisers are working to humanize their brands. Lenox, a classic dinnerware company, utilized influencers to transform the perception of its products among young consumers. The company collaborated with 32 influencers who showcased Lenox’s dishes in unique, non-traditional home settings. The campaign generated close to 900 link clicks, exceeding the estimated potential reach by nearly 400%. The global influencer marketing size has more than doubled since 2019, reaching an estimated $21.1 billion in 2023 (Source: Statista). Data from Grand View Research indicates that the preference for online influencers over traditional celebrities for product endorsements will cause a 33% CAGR growth from 2023 to 2030.

Influencer Marketers Favor Micro-Influencers Over Celebrities

According to Hubspot, 80% of influencer marketers collaborate with small creators (1K to 99,999 followers/subscribers), whereas only 16% work with accounts with over 1 million followers. About 44% of marketers say that the biggest benefit of working with micro-influencers is that it is more cost-effectiveInfluencer marketing has evolved from focusing solely on follower count to prioritizing content quality and brand alignment. A significant portion of social media users, especially Gen-Z, prefer discovering products through influencers. Evidently, influencer marketing is going nowhere soon. However, advertisers must learn to evaluate which influencers offer the most value. eCommerce Advertising Trends With over 24 million eCommerce stores worldwide, competition for businesses has never been tougher. To stand out and attract customers, it is crucial to stay on top of the latest eCommerce advertising trends.

 

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