The marketing landscape is continuously changing with tech developments, consumer habits, emerging trends, global events, and evolving laws and regulations. 2023 has been one of the most challenging years in recent memories in the marketing world, with factors like AI, cybercrime, and the economic downturn creating challenges for businesses and marketers, so what will 2024 look like? While 2024 remains a few months away, it is crucial to start preparing yourself for next year so that you can anticipate the key challenges and find the best ways to achieve your marketing goals. Here are a few main challenges you must be prepared for in 2024.
Keeping Up With AI
AI has been perhaps the biggest talking point in marketing (and many other sectors) this year. It has been a massive challenge for organisations to get to grips with AI this year and understand what it should be used for and what its limitations are, and this is likely to be another significant challenge in 2024. The technology is constantly evolving and improving, and those that do not embrace AI now will inevitably fall behind. In 2024, businesses and markets must keep up with AI and find ways to leverage the tech to deliver more effective marketing campaigns. A few ways that you should use AI in 2024 include:
Automating repetitive tasks
Finding The Balance Between AI & Human Intelligence
While you should undoubtably embrace AI, finding the right balance between artificial intelligence and human creativity is also essential. While you can use AI to semi or fully automate many tasks, you will find that it cannot replace human creativity. This is why content creation should be left to talented content creators who will know how to generate persuasive, engaging content that adopts brand voice with the all-important human touch.
The Growing Threat Of Cybercrime
Cybercrime has been rife since the start of the pandemic, with experts stating that this is now the biggest threat to modern businesses. Marketers need to prioritise cybersecurity moving forward because customer data plays such a critical role. Therefore, investing in high-quality cybersecurity products and utilising best practices to safeguard customer data and build trust (it can be hard to recover your reputation after a successful cyber attack). A few best prices include:
Using complex passwords
Backing up sensitive data externally
Learning about common scams
Using access control
Completing software updates ASAP
Encrypting sensitive data
Privacy & Data Regulations
Following this, there will likely be changing regulations and new laws surrounding data collection and privacy in 2024 with the growing threat of cybercrime. Therefore, it is vital that markets keep up with the latest developments and comply with all laws and regulations.
Consumers are becoming increasingly passionate about the environment and are now selective of the brands that they use. Therefore, organisations need to find ways to reduce their impact and also showcase their commitment to sustainability. There will be a greater emphasis on sustainability and social responsibility in 2024, so brands will need to be intelligent and create and share content demonstrating their commitment to environmental protection - this should help you to develop a positive reputation and attract new customers (particularly younger generations).
Saturated Content Market
People consume more content than ever, but it can be challenging for a brand to stand out when every business is pumping out an enormous volume of content. While this can make it hard to get noticed online, you will find that there are strategies that you can use to stand out in a noisy marketplace. With many brands focusing on quantity over quality (often AI-produced content), you can engage your target market with high-quality content that is valuable, relevant, and entertaining to your target market. Mixing it up and generating different types of content is also essential. In 2024, a few types of content that could help you to stand out include:
Short-form video marketing
Memes and gifs
User-generated content (UGC)
While 2024 will certainly be a challenging year for businesses and marketers, it is also an exciting time. The marketing landscape is evolving and changing before our eyes, so it is vital that you can stay current and adapt to the latest developments and trends. The information in this post should help you prepare for the year ahead, but be sure to keep checking this blog for all the latest news in the world of marketing!
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