How Businesses Can Revolutionise Their 2024 Marketing Strategy
Find out the latest insights for your 2024 marketing strategy and how to leverage these for your business. From AI in marketing to the debate of X vs Threads, we dive into the latest trends and tips to leverage these.
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Last week, we hosted our second webinar on ‘What 2024 Holds for Marketing’ which included an in-depth analysis of the social media trends for this year as well as tips on how to action this into your marketing strategy.
From the rise of AI right through to the debate of X vs Threads, we dived into what we can expect from marketing in 2024. Catch up with some of our insights below!
AI Is Becoming A Marketer’s Own Personal Assistant
For the last couple of years, we have heard about the impact that AI will have on the world, notably in the world of marketing, but AI can leverage a marketer’s job role rather than be its biggest rival.
According to Hubspot’s 2024 State of Marketing Report, marketers are using AI to make their jobs easier in several ways such as; creating personalised content, getting ideas/inspiration, writing basic copy and social media post copy.
AI can also be integrated into marketing processes such as live chat bots. Rather than having this manned by your sales team, a chat bot can be used to answer FAQs and streamline your processes. 62% of consumers would prefer to use a customer service bot rather than wait 15 minutes for human agents to speak with them, so this could be a good way to utilise AI and save on resource pressure.
AI has also taken over the email marketing world and can be used to assist marketers with personalisation and workflows. For example, 51% of respondents in a Statista study believed that AI-supported email marketing was more effective than traditional email marketing approaches.
Top Marketing Channels for 2024
According to Hubspot’s Q4 2023 Marketing Trends Survey, social media is still the number one channel marketing channel and is used by 43% of marketers (followed by 33% using email marketing and 32% using website and blog SEO).
The Rise of Social Commerce
You can’t talk about social commerce without making reference to TikTok shop, but social commerce also goes a lot deeper than just buying directly through the platform. It also includes product discovery and using social as a tool to leverage commerce sales.
And social is a key driver for sales. Hubspot’s social selling survey found that 87% of marketers who sell on social say it’s effective, and 59% report driving more social sales than in past years.
When it comes to leveraging social commerce, we have a few top tips which will help your 2024 social media strategy. The first one is existing where your customers are. Find out where your customers are and utilise these platforms such as TikTok shop.
The second is user-generated content to showcase your product and drive sales. You can also look to invest in content creators to support this. Finally, engaging with your community will be key. Build a community to drive engagement and build trust and loyalty with your customers.
Short-Form Video
This is another one that we can thank TikTok for, but short-form videos will continue to be paramount for marketing strategies in 2024. In fact, 26% of marketers are looking to invest in short-form video in 2024 making it the top format that marketers are looking to invest in.
Short-form videos are also driving sales with a reported ROI of 10%. This will include using short-form videos for your boosted ads such as Instagram Reel formats in Meta Ads Manager. This year, we would recommend testing new formats and measuring the ROI of these.
However, this does not mean that it’s the end for long-form video. TikTok recently announced that they would be experimenting with 30-minute uploads. Long-form content does still have a space in video marketing but it needs to be engaging, provide value, relate to the audience and tell a compelling story.
X vs Threads
Off the back of Threads’ launch last year, we expect there to be a lot more updates from the platform and X to also pull out some more surprises to keep up with the competition. While 32% of marketers expect Threads to be a bigger success for them in 2024, 68% of marketers expect this to come from X.
On the flipside, only 11% of marketers currently use Threads and 13% don’t plan on using Threads in their 2024 marketing strategy. So the question remains, where does Threads go from here and how can businesses utilise this feature?
Threads has introduced several updates since its launch such as; web posting options, hashtag/tagging capabilities and a ‘following’ feed to try and draw people back onto the app, but it seems the app is not catching on with users.
However, if you are looking to implement Threads in your 2024 marketing strategy, they recently gave insight into how their algorithm works which could help you get the most out of the platform. Overall, it will be interesting to see how Threads tries to compete with X and what new marketing updates and releases will launch this year.
