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What developments will define the digital marketing year? Of course, in many cases it is a continuation of developments that have already started, but as a CMO, the digital marketing trends in this article should be at the top of your strategic calendar.
We are heading towards the conclusion of a turbulent year. On most fronts a year never to be forgotten, but to leave behind us. Economic struggles, war, disasters, quite a lot has come upon the world.
But at the same time, 2023 has been very interesting for us. It feels like a crucial year in which the shift to ‘the human agency’ has really gained traction. By that I mean the shift that has been preached for years by authors like Andrew Keen. The shift in which the user is in control of privacy and data. Or, as my colleagues at iO put it so nicely : ‘from targeting to trust’.
Besides that, it was an interesting year from a digital marketing perspective anyway, given the accelerated development of ‘digital first marketing thinking’ at many brands. Partly forced by economic standstill, partly by changing customer behavior due to (among other things) the corona pandemic. For example, McKinsey already published a piece on the accelerated digital first media transition in 2020 .
The recent ‘explosion’ of AI will only further accelerate these developments. While I think we all hope that the world will have a calmer and especially more peaceful year, a very exciting year is on the horizon for digital marketing. In this article I will try to put into words a number of the developments that I believe will define the digital marketing year.
1. The swing to owned media
No matter which CMO or marketing manager I speak to, it is always more or less about the great dependency on paid media for performance. The well-known ‘Google & Meta drip’. Due to rising costs, more and more brands are getting into trouble with their budgets and performance. These developments are largely caused by the disappearance of third-party cookies , the tightening of privacy settings and the phasing out of a number of targeting options. This development was recently given an extra boost with the possible ban on Meta to advertise in a targeted manner . The soup will probably not be eaten as hot as it is served, but it is a clear trend in the market by now.
2024 will be a turning point in the digital list of nigerian consumer email marketing strategy of many brands. The shift from paid to owned already started in 2023, but the vast majority of brands still have to make the move in the coming years. Building your own (first party) data will become an absolute priority. So start thinking about your owned media strategy today and reduce your dependency on paid. The shift to owned media will also ensure that the loyalty industry will gain new momentum as a way to build first party data.
2. Acceleration of digital first media deployment
We already knew that media deployment is the power of stories in 2024: these are the 5 storytelling trends changing . But this transition has significance for the entire america email list marketing chain. A different type of media deployment often also involves a different type of production. The advertising world is struggling with that.
The struggling economy of the past period has ensured that brands have accelerated the switch to digital media, where there was also good growth for traditional media immediately after the corona pandemic. Based on what I see happening in the market around me towards 2024, I think that many brands will make even more extreme choices in terms of media.