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Key trends for marketers in 2024!

Author

Wishu
December 08, 2023

Hello. Amidst a big advertiser boycott, X pivots to smaller brands for collaboration. The platform will also be prioritizing subscriptions over ad dollars.

— Hubert Trinkunas, Rosa Cecilia

TikTok shares 2024 trends in ‘What’s Next’ report

TikTok's latest "What’s Next" report unveils key trends for marketers in 2024:

  1. Curiosity Peaked: Discover New Trends TikTok is a discovery engine for users, making it a potent tool for marketers to engage audiences with new trends and topics.

  2. Storytelling Unhinged: New Narrative Forms The report explores innovative storytelling on TikTok, offering marketers insights on crafting compelling brand narratives.

  3. Bridging the Trust Gap: Establishing Brand Trust TikTok provides a space for brands to build trust through engaging video content. The report outlines strategies for strengthening brand-consumer relationships.

TikTok's “What’s Next 2024” is a guide for marketers navigating the platform's evolving landscape, offering actionable insights and real-world examples. Download the full report here.

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FTC’s new guidelines: shaking up influencer marketing

In a significant shake-up, the FTC's fresh guidelines have thrust influencer marketing into the spotlight:

Stricter disclosures: Influencers must now transparently disclose all relationships with brands, including perks and gifts, directly within video content. These rules, long overdue according to experts, aim to bring clarity and fairness to the influencer-brand dynamic.

Industry impact: With the influencer marketing industry valued at $21.1 billion and growing, the new regulations and heightened FTC enforcement could reshape how influencers and brands approach content creation. Concerns loom over potential drops in engagement due to increased disclosure requirements.

Enforcement challenges and reputational risks: The FTC's crackdown, extending even to mid-tier influencers, signifies a shift. Those receiving warnings face possible penalties, impacting their reputation. The era of influencers discreetly endorsing products without clear disclosure is waning.

As the $21.1 billion influencer marketing industry faces increased scrutiny, transparency emerges as a vital currency. The FTC's move addresses authenticity concerns and reshapes the landscape for influencers and brands alike.

Navigating the shift: affiliate marketing's new playbook

Affiliate marketing is undergoing a transformation, prompting brands to rethink their strategies:

Intensifying competition and PR evolution: The affiliate marketing landscape is more competitive than ever, leading PR agencies to intensify training and dedicate teams for prime placements.

Rise of "performance PR"…The evolution of affiliate programs towards "performance PR" includes leveraging SEO with affiliate links in evergreen content. Brands are investing more, and PR agencies are adapting to the changing landscape.

Brands adapting to personalization: Success in affiliate marketing now requires personalization. Brands like Foria prioritize authentic communication in sensitive sectors, relying on generous commissions and personalized attention to each affiliate partner.

As affiliate marketing evolves, brands must adapt, build meaningful relationships, and deliver high-converting assets. The impending removal of third-party cookie tracking signals further changes, emphasizing the need for continuous adaptation in this dynamic marketing channel.

The ad market will continue to recover - but with caution - into 2024

As 2023 concludes, global ad spending is rebounding despite challenges, with GroupM and Magna offering differing perspectives:

Positive 2023 finish: GroupM predicts a 5.8% rise in global ad revenues to $889 billion in 2023, with Magna forecasting a 5.5% increase to $853 billion. Both agencies note a positive trajectory despite inflation and conflicts.

Pure-play digital channels: Pure-play digital channels, excluding traditional formats, see strength. Magna projects a 10.5% growth to $587 billion in 2023, while GroupM expects 9.2% growth. Digital pure play is forecast to be up 9.4% in 2024.

2024 outlook: Magna anticipates a 7.2% surge in ad revenues to $914 billion in 2024, driven by easing inflation and major events. Traditional media owners are expected to benefit from the recovery.

Retail media networks: Retail media networks emerge as winners. GroupM projects $119.4 billion in earnings in 2023, growing by 8.3% in 2024. Magna estimates retail media will represent $124 billion, constituting around 15% of the overall market.

Connected TV's impact: Connected TV supports the TV sector, especially with streaming services adopting conventional commercials. Magna highlights Amazon Prime Video's ad-supported tier as a potential "game changer."

The ad-spending market is resilient, with digital channels and retail media networks driving growth. Despite uncertainties, 2024 holds promise with major events and recovery for traditional media.

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