The 2024 year is a time of change for the world of marketing Advertising is being transformed by the emerging trends of 2023. Personalization, artificial intelligence, and immersive technologies such as virtual reality or augmented reality (AR/VR) have taken the center in the spotlight, greatly increasing the engagement of users and expanding the possibilities of marketers. These advances will have a profound impact on the strategies of companies and standards in the coming years.
The global market for digital ads was estimated at $601.8 billion in 2023 with media advertising making up 67.1 percent of total spending. Digital advertising is an extremely lucrative business which is why it’s not a surprise that more businesses are looking for ways to profit from this growth.
Video Advertising Trends
Mobile devices have revolutionized how we interact and conduct business, and we are now in an era in which video advertisements can have a major impact on your marketing strategy. The new trends in video advertising open the door to new opportunities for companies to reach their audience.
Video Ads Getting Shorter
Nowadays, consumers have a lower tolerance for long video ads Over 25% of people said they’d stop watching a video in one minute. Over half of them say they’d quit within 20 minutes.
In the end, advertisers opt for small-sized videos, particularly when there’s a series of back-to-back ads.
What length should video advertisements have to be? An analysis discovered that Instagram videos shouldn’t exceed 30 seconds. Twitter videos should be restricted to 45 seconds, and Meta (previously Facebook) videos shouldn’t exceed 1 minute.
A Hubspot study has shown that short-form videos are the most popular way to discover new products among Gen Z (57 percent) and Gen Y (42 percent).
Social marketing professionals have also embraced its potential with 54% deciding to use the format as their primary one. 33% of marketers are planning to invest more in short-form videos than in any other format.
The efficiency of short-form videos is evident with 83% of people weighing it to be the most effective format. Of those who have already invested in ads using short videos 90% of them plan to keep or increase the amount they invest.
However, 40% of the marketers aren’t using short-form video and have yet to test it and it’s the most popular format for today’s marketers.
Shoppable Video Ads Set Sustain Popularity in 2024
The name suggests that a shoppable ad allows customers to shop and purchase items directly from the ad.
Shopping-friendly media will be the next frontier and 57% of advertising agency professionals around the world believe that this type of advertisement is the future frontier.
Shoppable TV advertisements have been proven to be effective in cutting through clutter and increasing involvement due to their interactive aspect.
Samsung Ads’ survey revealed that nearly half (55 percent) of viewers who use smart TVs remember seeing an ad that they could shop and 50% of them have been involved in interacting with it.
Walmart also announced its click-through ratios (CTR) for its campaigns that used Roku’s shoppable advertisements are at least 3 times greater than those for standard video campaigns that were run via their Digital Signal Processing (DSP).
Other businesses have also observed positive results when shoppingable ads in their digital advertising campaigns.
Fresh Market Fresh Market used on-site shoppable videos to boost the customer experience. The aim is to recreate the fun and inviting in-store shopping experience on digital platforms.
With the addition of short, shoppable videos on its website The retailer has noticed an increase in the engagement rates for video (113 percent) and session duration (115 percent).
In the same way, Stolen Stores utilized shoppable video on their website and employed a variety of formats to draw the attention of customers and improve conversion rates via buying with one click.
In the end, they saw an increase of 10% in the average value of orders.
Sound Off Out-Stream Video Ads
We’ve all had it. You’re surfing the web and a hidden video advertisement suddenly begins playing at high volume.
This situation irritates many, and 66% of respondents who dislike advertisements play automatically with audio.
It appears that 53-78% of users prefer a sound-off option for videos, based on the situation.
Here are some additional advertising statistics that show the reasons sound-off video ad formats rank first among autoplay ads:
- 85 percent of Facebook users view videos with audio shut off. * 79 percent of LinkedIn videos are watched without sound
- Videos with captions boost the viewing time by 12%.
The solution is to stream video advertisements.
Outstream ads are those that integrate videos into the content that users read. These videos play automatically when they are scrolled through and then stop when they are out of view.
According to studies according statistics, ads that are outstream have shown higher CTRs (CTR) as well as longer engagement rates than in-stream ads.
Captions are a different way marketers can adapt to the new trends in marketing via digital channels.
Research has shown that 80 percent of viewers tend to complete watching a video if captions are present.
In Amazon’s video advertisement for September 2023, the man talks about his experiences working for the company.
Social Media Ad Trends
Social media offers businesses the chance to interact with customers in a personal and interactive way. The following trends have shaped the world of social media advertising over the last year.
Consumers DA in Social Media Ads
Authenticity is important 88% of customers consider it when choosing which brands to trust.
Selena Gomez’s Rare Beauty brand is an excellent example of the authenticity of marketing.
Instead of collaborating with celebrities and influential influencers with a high profile, The brand partnered with real-life creators who utilize its products. This led to 98% of campaign conversions influenced by content created by creators on TikTok.
The influencer marketing industry is an avenue for advertisers to build a human image for their brands.
Lenox is a popular dinnerware manufacturer, employed influencers to change perceptions of its products to young customers.
The company partnered with 32 influencers, who showcased Lenox’s food in unusual homes in non-traditional ways.
The campaign has generated nearly 900 clicks on the link, far exceeding the expected reach by more than 400%.
The influencer marketing market size has nearly tripled since 2019 and will reach an estimated $21.1 billion by 2023.
Research taken from Grand View Research indicates that the growing popularity of influencers on social media over celebrities who have traditional endorsements could result in an increase of 33% from 2023 until 2030.
Influencer Marketer Micro-Influencers Over Celebrities
According to Hubspot, 80% of influencer marketers collaborate with small creators (1K to 99,999 followers/subscribers), whereas only 16% work with accounts with over 1 million followers.
Nearly 44 percent of marketers believe that the most significant advantage of working with influencers who are micro is that it’s more efficient in terms of cost.
In reality, 56 percent of influencer marketing companies work with micro-influencers.
Marketing for influencers has evolved away from being focused only on follower counts to prioritizing the quality of content and aligning with brands.
A large portion of users on social media particularly Gen-Z like to discover products through celebrities.
Influencer marketing will not be going anywhere shortly. But, marketers must be able to recognize which influencers have the greatest value.
E-Commerce Advertising Trends
With more than 24 million eCommerce stores around the world, the business competition has never been harder. For businesses to be noticed and draw clients, it is essential to keep abreast of the most recent trends in eCommerce advertising.
Amazon the Lead in eCommerce Advertising
Amazon is responsible for over 75% of all eCommerce advertising spending.
The total advertising revenue is more than $7 billion. Walmart follows it with just $1.5 billion in advertising revenue.
A majority of people say their preferred online retailer is Amazon.
The revenue from ads on Amazon continues to increase due to its cost-effectiveness as well as its high rate of return (ROI) in comparison the search engine optimized (SEO) or advertisements on search engines.
The average cost-per-click is $0.71 and the percentage of conversion at 9.58 It is higher than U.S. eCommerce sites with just a 2.57 conversion rate of 1.
This makes Amazon advertising a desirable option for a lot of e-commerce companies.
In 2023, sponsored items accounted for 78% of all global advertising expenditures through Amazon.
Amazon expands its Sponsored Products advertisements by including premium apps as well as websites like Pinterest, BuzzFeed, Hearst Newspapers and Raptive.
Ads for sponsored products will be prominently featured at both the top and the bottom of the webpage. It is vital to place them correctly, as 35 percent of Amazon buyers are the first to click on a product that they see, while the top three products receive 64% of the clicks.
More Brands Experiment With Native Ads
By 2023, a greater number of marketers are expecting to use Native ads. Nearly 25% (23 percent) are planning to do it at the beginning of their careers.
Why is there a growing popularity of this method? Simple – it does the job!
The study also found that 36% of the marketers who utilize native ads have found them to be effective, with more than 50% claiming that they are their most effective method of producing ROI.
In contrast to traditional ads native ads effortlessly advertise your brand to new audiences without disrupting the user’s experience.
The top jewelry maker, Pandora, struggled to connect with new, high-quality customers on a larger scale to grow its reputation in France. When it adopted native ads, the company experienced an increase of 130% in its conversion rate.
As it is discovered, consumers are more likely to see native advertisements 53% more often than banner advertisements.
Audio Digital Market Trend
An unexplored but fast-expanding area that is gaining traction in the field of marketing via digital channels is audio ads. With the rise of music streaming services and smart speakers, companies are now considering incorporating audio advertisements in their marketing strategy.
Audio Advertise on the Rise
Advertising in audio is an effective method to promote products or services through the incorporation of advertisements into audio files. They are usually seen on radio shows that are digital and podcasts as well as music streaming.
Audio ads are inexpensive simple to customize and can be included in diverse audio media such as audiobooks and podcasts.
The advertising of podcasting, specifically has reached a new height in acceptance.
More than 8 million Americans were listening to podcasts in 2021. The majority are Gen Zs as per Statista.
The global market for podcasting grew by $20.14 billion by 2022, to $25.85 billion in 2023 with a compound annual of (CAGR) that was 28.4 percent. In 2027, the market is predicted to be $66.24 billion with a 26.5 percent CAGR.
Additionally, Edison Research found that 51% of people who were surveyed pay greater attention to ads on podcasts than other forms of media, which is why it’s worth investing in this type of medium.
Ad Optimization for Voice Search be Prevalent in 2024
The 2023 Hubspot study found that nearly one quarter (28 percent) of marketers are predicted to stop using the use of voice search by 2023. But, the tide of digital could change in 2024, as the number of users using voice assistants is predicted to increase.
Research by Statista suggests that the number of the number of digital voice assistants will grow to 8.4 billion in 2024, compared to 4.2 billion as of 2020. Digital assistants are typically employed for everyday tasks such as setting alarms, or playing music however, they can also be employed to locate information.
Content-Centric Trends in Advertising
From authentic user-generated content to influencer collaborations, content-based advertising gives your brand voice and personality. These trends are focused on making real connections with your target audience by providing relevant, high-quality content.
User-Generated Content Continues
Content created by the user (UGC) is any type of content such as images, text, or videos – produced by end-users, not brand creators.
It is used by 86 percent of retailers and brands and the following data help clarify the reasons:
- 62% of users prefer photos of customers over images from brands when clicking on advertisement sites, social posts, or emails.
- Shoppers are 2.4x more likely to see the authenticity of content created by users than content created by brands.
- Content-based ads that are created by users achieve click-through rates 4x more than the average.
- 85 percent of customers would prefer to use visual UGC over brand-name content when they make purchasing decisions.
User-generated content isn’t only efficient, but it also can save you spending money advertising.
One study has shown that advertisements that contain UGC have an increase of 50% in cost-per-click when compared to ads without.
In terms of what kind of UGC content is most influential, the study shows that 56% of people like reviews written by customers, 38% prefer video or photo content, and 30% react the most to written reviews published on social media by influencers.
Marketers, however, have to into the next level.
Keep Up to Date With the Latest Trends in Advertising
Being up-to-date with the current trends will ensure that you make the most of the advertising dollars, and also ensure you reach the right audience.
You can push your marketing strategies to the next level by working with a digital agency such as Thrive. From social media ads up to Amazon advertisements that are paid, we’ll be able to guide you through the evolving marketing landscape, from social media ads to Amazon advertisements paid.
