With the new year well under way, there are five key trends which I believe will have a major impact on the advertising and marketing industry in the next 12 months, and beyond, starting with the rise and rise of artificial intelligence.
There is little doubt that AI has already revolutionised various tools in the marketing landscape, offering valuable benefits to marketers. Leaders can tap into predictive analysis, generative AI, and chatbots, each playing a crucial role in enhancing business operations.
However, the integration of AI should go beyond being a mere marketing gimmick, it should be seamlessly incorporated into operations for maximum impact. Establishing guidelines for AI usage is crucial, and leaders should encourage their teams to embrace and leverage AI to boost efficiency, enabling employees to focus on creative, value-added tasks rather than fearing replacement.
Navigating the DPDI Impact
The Data Protection & Digital Information Bill aims to streamline the UK’s data protection laws, reducing organisational burdens and costs while upholding high data protection standards. Proposed changes to direct marketing and cookies rules, along with increased fines for PECR infringements, are on the horizon. However, it’s essential to note that the Bill is still in its final stages, and the exact impact on marketing is yet to be determined. This is a development worth keeping an eye on.
Attention metrics: Beyond the hype
As advertisers and marketers increasingly recognise the importance of attention metrics, the hype surrounding them is expected to persist. Offline media has also joined the chorus, emphasising the need to measure attention, even in traditional mail. While predicting the future is uncertain, it’s likely that attention metrics will remain a focus in 2024 and beyond.
Globally, a majority of advertisers are anticipated to adopt attention-based metrics in the year ahead. By tracking user engagement with ads, brands can measure performance against competitors, making attention metrics a more reliable gauge of advertising effectiveness compared to impressions. Essentially, attention metrics offer a deeper understanding of how users interact with content, shaping brands’ strategies for creating impactful advertising campaigns.
Programmatic evolution in 2024
In the coming year, we anticipate a surge in cross-channel and omnichannel programmatic advertising. Brands are urged to leverage various channels, including mobile, video, display, and even direct mail, to connect with customers across different devices as they consume entertainment.
This trend, which gained momentum in 2023, is set to become even more critical in the upcoming year. With an increasing number of viewers shifting from cable to streaming services, the convergence of linear and connected TV markets makes programmatic strategies indispensable. Networks, recognising this shift, are incorporating programmatic deals into their commitments, with Disney leading the way. The ad market is poised to adapt further to this change in audience behaviour and ad-buying strategy, gaining substantial traction in 2024.
The cookie crumbling and the rise of cookieless marketing
Google has long discussed the elimination of third-party cookies, and in 2024 it has finally started the process. This shift will give a massive boost to cookieless marketing, emphasising the importance of contextual data. Advertisers are increasingly embracing this idea, utilising AI and machine learning tools to fill the gap left by cookies. As Google moves beyond the 1% it announced late last week, we can expect a boom in AI data collection and processing, marking a significant transformation in how marketers navigate the evolving landscape of online advertising.
Ben Briggs is managing partner of Join the Dots
