Thanks to the internet the world of marketing is always changing with new trends rising into the mainstream. The following are some trends that have become very popular in 2024 and can be used by small businesses to grow. Please be advised that these trends are subject to change since new platforms and technology are becoming available every year.

Influencer Marketing

Social media has given the power of mass persuasion that was once held by captains of industry and movie stars to anyone with a smartphone. Influencers are used as a source of information for modern consumers to help them make decisions on their spending habits. There has been growth in the use of micro-influencers for marketing since they have a higher engagement. Micro-influencers have a smaller group of followers, but they have a higher level of engagement and niche market.

Video Marketing

When TikTok in 2020 exploded in popularity, short-form videos quickly became the hottest new way to advertise to new audiences. Short-form videos have been adapted onto other platforms like Instagram and YouTube. These videos have been used by other companies to communicate their brand and establish trust with their customers. Companies have created these short-form videos to do Q&As, and tutorials, to show the faces of the company.

Digital Marketing on Social Media

Social media has been shown to have a higher return on investment (ROI), compared to traditional marketing methods like print ads. Social media is used more by marketers than email marketing and blogs. Social media platforms are used more by the younger demographics like Gen Z and Millennials, but Gen X and Boomers are starting to adapt to these new forms of communication.

According to Hubspot, this is the ranking for the different social media platforms in terms of ROI:

• Facebook: 29%
• Instagram: 29%
• YouTube: 26%
• TikTok: 24%
• Twitter/X: 16%
• LinkedIn: 16%

Preparing For the End of Cookies

Privacy laws are changing around the world and people are asking for more privacy online. This change to digital privacy can be seen in the adoption of the General Data Protection Regulation (GDPR) in the European Union (EU). The GDPR outlines very specific situations when data can be processed and there are heavy fines for those that fail to follow the rules. There are also laws being passed in the United States that give consumers rights to their digital privacy. The California Privacy Rights Act (CPRA) is the most comprehensive of these new privacy laws. CPRA gives consumers the right to opt out of data collection and correct inaccurate personal information. This has led to speculation that the internet might see the end of the cookie format which has allowed for the internet to function for this long.

Companies and marketers are starting to shift gears and adapt to new methods for online marketing:

• Primarily using first-party data: This is data that is directly stored on your site and data can be collected using free tools, loyalty programs, and newsletter subscriptions.
• Contextual advertising: Posting ads on sites that are relevant or related to the content that you are advertising.
• Build Trust: Embrace transparency has asking consumers for their data exchange for rewards or freebies.

If you would like to implement some of these methods give us a call here at KMG.

Written by Matthew Unrein | Aug 23, 2024