From the adoption and integration of AI to the new data privacy measures being added to platforms like Google, Linkedin, and others, there is so much to account for as a marketer now and it's becoming extremely hard to determine attribution and answer the question "Did this marketing activity generate business?"
So, as we progress in 2024, you may be wondering if we are in a revolutionary time, or, are we actually now regressing? What should we be doing now to maximize efforts to generate results and not get lost in the noise? Let's explore....
Going into 2024, the field of marketing has undergone significant changes. One of the most notable developments is the widespread adoption and integration of artificial intelligence (AI) in marketing strategies. AI has revolutionized the way marketers analyze, personalize content, and target audiences.
Another significant change is the introduction of 'walls' on platforms like Google, Linkedin, and others. Marketers now face stricter regulations regarding data collection and usage, requiring them to prioritize user privacy and consent. Because of this, marketers are finding it harder to directly attribute business success to specific marketing efforts, making it difficult to prove ROI to companies.
Additionally, digital platforms are becoming more reluctant to let you "leave" their platforms. Companies want you to stay on their platforms as long as possible to complete your full buyer experience. It means we now need to rethink our strategies...
To thrive in the evolving marketing landscape of 2024 and beyond, we need to embrace a growth mindset and continuously adapt strategies. Here are some key areas to focus on:
1. Accept and Understand Buyer Behavior has changed: Think about how you research and buy now..... in most cases you are not seeing an ad one time, clicking through, and purchasing a product or talking to sales.
Instead, you are likely to do something like:
- See the ad
- Check out the company website
- Go watch a video or two on the YouTube page
- Become interested in the person in the video and check out their personal LinkedIn page
- Check out who of your connections also follows them
- Ask around a bit and check out reviews
- Forget about this company for a few weeks and get distracted
- See the ad again and be reminded you were interested
- Rereview everything and download a content piece to educate yourself more
- Send a chat on the website requesting more information
- THEN you may be ready to purchase/talk to sales
It's not a linear path and we need to both understand and adapt to meet our intended audience where they are.
2. Get Back to the Basics: There are awesome platforms out there that can assist with AI and data aggregation to help you navigate to the best of your abilities to be strategic. However, we need to start going back to the ROOTS of marketing that have generated results long before digital and NOT get sidetracked by the noise. Results come from:
Regardless of the new marketing landscape, the fundamentals haven't changed and now more than ever it has to be the focus.
3. Stay Flexible We are just at the forefront of the dramatic disruptions happening within the digital landscape. We must continue to be adaptable to changing landscapes to stay competitive and effective
So, some may argue that we are in a Revolutionary phase right now in marketing with the new advances in AI and digital platforms. Others may feel like we are regressing as a result of the elimination of linear attribution and lack of available data.
Regardless of your opinion, one thing is for certain. 2024 is shaping up to be quite the challenge for companies to effectively and consistently reach their target audiences.
If you are struggling to make sense of it all and need help developing and implementing your strategies in 2024, let's talk!