Marketing spends across industries is witnessing exponential growth. Organisations rely on marketing to establish a customer connect. In my opinion, 2024 will be the year of tech-driven brands that use artificial intelligence (AI) to better understand consumer behaviour. Influencer marketing, short forms of content and sustainability efforts in brands are also here to stay. 

Embracing AI in Conversational Marketing & Hyper Personalisation

Emerging data from HubSpot research in 2023 underscores marketing leaders' bullish outlook on AI and automation. The survey found that 68% believe that full implementation would spur unprecedented business growth. This enthusiasm mirrors tangible AI adoption - 62% report their companies have already invested in these technologies. Among adopters, 71% cite positive returns while 72% say AI and automation boost employee productivity.

These statistics demonstrate a profound and unshakable confidence in the potential of AI to transform businesses. Marketing directors unequivocally embrace AI's expanding role, anticipating significant growth and exponential performance improvement. Organisations stand poised to unlock the full potential of AI. These numbers paint a future where AI will become an essential driver of enterprise success, and its mastery will separate successful businesses from the rest.

Just as impactfully, conversational interfaces mark radical turning points for customer engagement. Today's consumers demand real-time interaction and instant gratification as the norm. In this climate, AI-powered chatbots and virtual assistants have become the competitive imperative for marketers seeking to truly engage customers - not just respond reactively but have meaningful dialogues where they provide recommendations proactively, deliver individualised guidance, and drive tangible value. 

The brands that embrace conversational marketing and AI-driven interactions will gain a substantial competitive advantage in 2024. These technologies are redefining how consumers and brands relate. Forward-thinking marketers should be actively exploring and investing in them now to future-proof their customer engagement. 

Hyper-personalisation is no longer a luxury, but a necessity for companies to compete in today's market. By utilising advanced data analytics, leading brands can create comprehensive customer profiles to enable highly customised, one-on-one interactions. This shift from segmentation to true personalisation provides unparalleled relevance across channels, powered by a detailed understanding of individual needs and preferences. 

Influencing the Future with Influencers 

Post-pandemic, most brands have recognised the potential of influencer strategies within the burgeoning Creator Economy. As per Ogilvy, the Content Creator Economy comprises over 50 million content creators globally, with only two million monetising content creation as their primary income. 

Eighty per cent of marketers vouch for their influencer marketing strategy’s efficacy, with 89% equating or favouring it over other channels. Instagram reigns as the preferred platform, yet Facebook garners the title of the most effective platform for campaigns. 

Importantly, 71% of marketers observe that the quality of customers and traffic from influencer marketing outshines other sources, even as measuring ROI remains a significant challenge, followed by cost concerns.

2024 ushers in a transformative phase for influencer marketing. Micro-influencers are rising as key players due to their higher engagement rates compared to their mega counterparts as they have a homogeneous community. The concept of influencer extends to customers and employees—genuine advocates for the brand. This puts an onus on us to have a robust referral programme. 

As we move into 2024, influencer marketing shifts from a supplementary strategy to a cornerstone of brand growth and awareness. It is an exciting time to be at the forefront of this shift, guiding brands to leverage these evolving dynamics for commercial success.

User-generated Thumb-stoppers / Short Form Video Content

The meteoric rise of short-form video represents a seismic shift in marketing strategies today. Instagram and YouTube Shorts have catapulted bite-sized videos into a leading medium for brand storytelling. Marketers using generative AI to make content save an average of 3+ hours per piece according to HubSpot Research, 2023. 

This visual ephemera grabs scattered consumer attention spans with consumable content. Savvy brands harness these platforms for product launches, advertisements and customer testimonials. The dominance of short-form video reflects the modern pace of digital consumption. Audiences increasingly expect marketing communications tailored to their abbreviated attention. Astute brands will continue adapting their strategies to capitalise on this explosive growth of short-form video engagement.

Future Of Websites

Generative AI as a component of SEO workflows is an interesting phenomenon being picked up by modern providers now. 

In 2024, the experience for a user post landing on a website is set for a rehaul. It can become as simple as a video or a gamified experience. For example, it can just be an interactive video of an actual bank branch and we can choose to go to the relevant counter upon navigation with video bots available at each counter, ready to help with whatever information we need. 

Humanising the Brand - Sustainability And Ethical Practices In Marketing 

According to a report released in 2023, 37% of consumers base their purchasing decisions on the ethical and sustainability policies of retailers. What steps can marketers take to promote sustainability?

Over the last five years, there has been a 72% increase in the number of shoppers buying eco-friendly products. Hence, it is highly recommended that businesses prioritise communicating their sustainability efforts and eco-friendly product/service features to their customers and prospects. Collaborating with your customer base on a cause or initiative they are deeply interested in can inspire more brand loyalty and attract new customers with similar values. 

Conclusion

We need to embrace and keep up with digital transformation. However, while AI enables unprecedented efficiency, human imagination and empathy remain irreplaceable. No machine can replicate lived experiences or forge genuine connections. Though AI excels at automating mundane tasks, it cannot formulate strategy or impart knowledge like human mentors. With AI handling routine work, people can devote more time to imaginative problem-solving and emotional intelligence - the unique capabilities that set them apart. By maximising the strengths of humans and machine, we can harness the best of both.