The key characteristics of performance marketing are measurability, relevance, and purposefulness. Therefore, brand marketers must demonstrate measurable results and ROI to prove the value of ad campaigns instantly. The key performance indicators (KPIs) include metrics proving the increased ROI in marketing, sales volume, the number of generated inbound calls, leads, etc.
New technologies and software solutions like Phonexa can facilitate numerous tasks for digital marketing experts, such as tracking the effectiveness of ad campaigns, gaining visibility into performance by accessing call analytics, and more. Additionally, Kedet can consolidate all your ad data into a centralized platform, your data will feed into one centralized platform, which gives you a holistic view of your paid strategy while enhancing data transparency and improving attribution.
For example, every fifth Marketing & Sales Specialist surveyed by Verse claims to spend up to 80% of their time establishing direct contact with potential buyers.
Thanks to marketing automation solutions that include various digital tools, marketers can significantly accelerate and improve campaign management and make follow-ups quicker. Additionally, lead management software converts leads into opportunities, allowing brands to track their progress through the sales funnel.
In this article, we’ll discuss these and other trends in the digital performance marketing industry in detail. We will also share some predictions for 2024 that marketers can consider to drive better results!
Marketing Trends to Watch in 2024
In the era of digital transformation, every company strives to master new tools and technologies to improve and optimize its operations. The ad industry is no exception. Let’s take a look at what you should keep in mind for your digital marketing strategy in the new year!
#1. Building Advertising Campaigns With Artificial Intelligence (AI)
Artificial Intelligence continues to evolve, providing marketers with more tools to interact with their audience. With this technology, specialists enhance targeting, create creative and effective ads, and optimize campaigns, significantly increasing ROI.
Moreover, AI tools that use machine learning can generate text, photo, and video content. Therefore, digital marketing professionals have been increasingly utilizing such tools.
Additionally, thanks to the application of artificial intelligence in marketing, specialists can:
- Make predictions for advertising campaigns
- Customize websites for conversion optimization
- Create detailed customer profiles
- Improve the performance of chatbots and voice assistants
- Process various marketing analytics data
AI-based products have a stable trend of development and improvement, offering numerous advantages. Therefore, we can expect their popularity to continue growing in 2024.
Channels like Google’s Demand Gen ads are an example of how AI is redefining digital marketing.
#2. Automation of Various Marketing Channels
Marketing automation software enables companies to increase efficiency and save time and budget. It helps track performance according to set parameters, perform simple routine tasks, and optimize customer interactions.
Furthermore, through automation tools, specialists effectively manage various performance marketing channels:
- Email: The software facilitates the creation of personalized and segmented email campaigns, sends automatic reactions to recipients’ actions, and delivers targeted messages based on the customer’s purchase experience.
This tool becomes particularly relevant amid the rising email marketing revenues, as indicated by Statista:
- Social media: Marketing automation tools assist in planning and publishing content, tracking reactions, comments, likes, and mentions of the brand in other users’ posts. It also sends automatic responses to customer messages.
- Search engine advertising: Advertising management platforms in search engines often offer their automation capabilities, such as keyword selection, bid optimization, and campaign performance analysis, as seen in Google and Microsoft Ads.
- SMS marketing: Marketing automation software can send personalized messages to phones, inform customers about special offers, promotions, or discounts, or serve as reminders for abandoned carts, incomplete registrations, etc.
Moreover, tools specifically designed for managing multiple lead generation sources simultaneously exist. Marketers can use such solutions to establish an effective cross-channel marketing strategy. Learn more on our blog: How to Choose the Right Advertising Channel.
3. Consider Utilizing Voice Assistants
Data from Statista demonstrates the rapid growth of digital voice assistants since 2019. Experts are convinced that their number will reach 8.4 billion units by 2024. Thus, virtual assistants take their place on the list of the latest marketing trends.
Voice search is simple and fast, so voice assistants like Google Assistant or Siri are regularly used by many consumers. Marketers improve engagement metrics and customer loyalty by adapting their advertising campaigns to “live language” queries. Here’s what can be done for this:
- Optimizing website content for natural language and verbally asked questions
- Exploring advertising opportunities through voice platforms and applications
- Improving lead management by focusing on frequent voice queries from customers
- Analyzing customers’ voice interactions with your brand to improve future strategies
Due to the rapid development of voice technologies, companies integrating this marketing trend into their work can enhance their online visibility.
4. Using AR Technologies to Enhance Users’ Shopping Experience
Companies use augmented reality (AR) technologies as effective digital marketing tools. According to Dynata, over 90% of Generation Z representatives are highly interested in AR-based shopping.
AR opens numerous creative opportunities for advertising specialists to create a trendy marketing strategy. This technology can be used for:
- Virtual fitting of clothing, accessories, and makeup
- AR tours of the company’s physical stores
- Creating “live” labels with product information
- Viewing products in 3D mode
Its capabilities and consumer interest show that AR can be successfully used in digital marketing in 2024.
Explore Recommendations for Implementing Trend Directions and Marketing Predictions for 2024
Process automation through various solutions and technologies like lead management software, AI, and AR can be the key to marketing success. However, it is important to understand that innovations are often associated with certain risks. Some areas require increased attention when transitioning to trendy strategies.
Follow Privacy Regulations in Data-Driven Marketing
AI-based tools, lead management programs, and similar solutions work with customer data. Therefore, it is critical for you to carefully consider methods of protecting this information. It is also necessary to adhere to relevant privacy rules. For example, in order to place an emphasis on user privacy as well as international regulation compliance, cookie consent banners should be required on your website.
Any data leaks, their use for purposes not provided for in the user agreement, or unlawful collection can damage the brand’s image. Thus, along with security, a good marketing strategy requires compliance with regulatory acts on consumer protection rights.
Alignment with Your Target Audiences’ Values
Research by Consumer Goods showed that 82% of surveyed consumers consider it essential for the company’s values to align with their own. Considering this when building a trendy marketing strategy increases your chances of success! It will be easier to convert leads when your ads speak to them, helping your brand connect with your target audience.
Furthermore, understanding customers’ values helps personalize advertising content, adjust targeting, and meet the target audience’s expectations. Thus, you improve the results of marketing efforts. After all, you can attract more like-minded customers on various performance marketing channels.
Build Your Martech Stack
To obtain accurate performance indicators, it is important to choose marketing automation software, lead distribution, and call tracking correctly. Follow these simple rules:
- Check the recommendations, reviews, and ratings of the software provider
- Find out if the digital product has the features you need
- Find out the cost of purchasing or renting the software to calculate the budget
Note that some service providers for automated marketing offer free trial access. Be sure to take advantage of such an offer before purchasing to see the product in real working conditions.
Monitor the Key Predictions for Performance Marketing
According to forecasts by experts at Gartner, by 2026, about 80% of creative talents from the advertising industry will use GenAI daily. Considering the rapid development of technologies and the opening of new ways to use them, a significant spread in the practices of marketers is predicted:
- Artificial intelligence with machine learning
- Marketing automation software
- AR and VR technologies
- Voice assistants
- Other IT tools to increase points of interaction with consumers
Some brands are also actively promoting their own strategies aimed at environmental protection. For example, the media agency Dentsu published the results of its climate policy. Therefore, marketers should think about how they can make the world better in 2024 and stay on the wave of popularity.
In line with “green” advertising is the issue of social responsibility. This trend has firmly established itself and will definitely not give up its position in 2024. Thus, companies need to consider their target audience’s values. This will demonstrate support and complete understanding from the brand, which will increase loyalty and engagement metrics.at
To Sum It Up
Every marketer should always be keeping an eye on trends and new emerging tools and technologies. With such knowledge, planning, developing a new strategy, and staying one step ahead of competitors is much easier!
To attract customers and promote the brand, it is necessary to stay agile and adapt to the ever-changing digital landscape. The technical side is vital, as consumers anticipate new, interesting ways to interact with the brand. Moreover, digital products significantly simplify working with marketing analytics. Thus, marketers get to elevate their game, save time and get better results!
