Advertising Trends: What does 2024 have in store?

Published: December 14, 2023

Navigating the events that happened in 2023, from the growth of AI and machine learning to voice search optimization, it’s become apparent that the pace of change in our dynamic world is relentless. As we approach 2024, our focus shifts towards anticipating the next big trends poised to leave a lasting impact and discerning the challenges that will inevitably come to fruition.

In this article, we highlight four advertising trends, including insights from various industry leaders:

TikTok Goes Beyond Mobile Screens

If you haven’t caught wind yet, TikTok recently unveiled its latest expansion strategy, venturing beyond the confines of mobile screens with the launch of a new out-of-home (OOH) ad solution: Out of Phone. This initiative is set to bring a surge of TikTok content onto billboards, movie theater screens, gas stations, retail stores, etc., marking a notable shift in the advertising landscape.

This innovation is already sweeping the nation, with renowned brands like Marc Jacobs lighting up Pride, CeraVe TikTok creators taking over Times Square, and Caroline Herrera gracing the catwalk screens throughout NYC.

Jonathan Gudai, CEO of Adomni, states, “Because the content on TikTok is so authentic, bringing its creativity to the real world is a natural extension and packs a punch as a complement to traditional brand messaging on larger screens.”

Given TikTok's ability to deliver genuine and engaging advertisements that resonate with audiences, it's no surprise that numerous brands are eagerly embracing this emerging trend. Anticipating a significant surge in popularity, we project Out of Phone to become a major force in 2024, unlocking a realm of creative possibilities and extending the TikTok experience far beyond the confines of the mobile screen.

Creator Economy Surge

In the age of information overload, capturing audience attention with conventional every day ads has become increasingly challenging. Recognizing this shifting landscape, advertisers are redirecting their investments toward creators, as highlighted in the inaugural report by IAB and TalkShoppe. This strategic shift is driven by the perception of the creator category as a “must-buy,” attributed to its vibrancy and exceptional ability to actively engage consumers.

Now that brands are recognizing the growing prominence of the creator economy, this trend is expected to further escalate in 2024. Globally, marketers are projected to spend over $32 billion on influencer marketing next year. Plus, influencer spending is now surpassing traditional methods, with 80% of brands reporting an increase in creator budgets in 2023.

Looking ahead, a substantial number of brands (92%) plan on increasing their creator spending in 2024, with 36% planning to allocate at least half of their entire digital marketing budget to this category. As UGC continues to gain widespread popularity, we foresee a resurgence of authentic, unobtrusive ad content - that seamlessly integrates with the digital landscape.

AI Unleashed

AI is all anyone can talk about - everywhere you turn someone is predicting its future. AI has already made a huge impact across almost every industry, but the advertising biz is currently experiencing the seismic impact of AI.

Since the introduction of ChatGBT in 2022, brands and agencies have been in a frenzy, eagerly harnessing the power of AI to improve their marketing efforts. This demand has caused a flurry of interest, with 40% of people saying their organizations will increase their investment in AI overall because of advances in gen AI.

Michael Allen, CTO at Laserfiche, a leading SaaS provider of intelligent content management and business process automation, envisions AI’s role expanding into multiple mediums and specialized applications, such as 3-D modeling, animation, architecture, and video creation.

Tony Marlow, CMO, LG Ad Solutions, underscores AI’s potential saying, “Generative AI has been transformative for text… And there are already some tools that help us create specific ad units for the CTV canvas, particularly these endemic native units that live within the UI. Being able to build them at scale with AI, that’s going to be the game changer in 2024.”

As advancements in AI continue, the realm of personalization is set to reach new heights. The future promises customized experiences, product recommendations, and individualized creatives for advertising. Sidra Berman, CMO at parcelLab, emphasizes that hyper-personalization will drive marketing in 2024, meeting the needs of consumers with dynamic and engaging tailor-made experiences.

Data Privacy in the Cookie-Less Era

With AI and personalization being a growing trend in 2024, an accompanying influx of data privacy concerns has emerged. A Pew Research survey found 67% of respondents said that they understand little to nothing about what brands are doing with their personal data. These growing fears are reshaping the marketing landscape in 2024. With Google and Apple disabling third-party cookies and stringent privacy regulations going global, marketers are pivoting towards first-party data. This information ensures that customers will have greater control over their privacy.

Kristina Prokop, co-founder of Eyeota, believes, “Google’s 2024 deprecation of third-party cookies will hit some organizations harder than others.” She further emphasizes that those companies that have dedicated years to amassing first-party data, invested in cloud-based infrastructure, and adopted cookieless strategies will outperform their counterparts. In contrast, businesses that have not made these strategic moves will find themselves lagging far behind.

As we head into 2024, it is evident advertising is moving towards a more personalized, transparent, and creator-led industry. From TikTok’s powerful transformation to Out of Phone and exponential advancements in AI, the opportunity for inventive and imaginative ads expands, promising an era where creativity knows no bounds.

Written By: Julia Cramer

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