In today’s ever-changing world, marketers must be quick to identify and adapt to emerging trends to seize new opportunities. These trends reflect consumer preferences and provide rapid insights into market dynamics. Although forecasting in the fast-paced digital industry is difficult, analyzing data from the previous year can guide us in identifying advertising trends to watch in 2024.
Shorts, CTV, streaming services... It’s all about videos
'Short-form' was undoubtedly the buzzword that swept through the media industry last year, reflecting the growing preference among busy modern individuals for videos under a minute. This trend coincided with a shift from traditional TV viewing to smartphones, tablets, and PCs.
The emergence of OTT (over-the-top) streaming services and Connected TV (CTV) has also revolutionized the media landscape. Unlike traditional broadcasting, which is constrained by a schedule set by broadcasters, cable TV, or telecom providers, OTT services offer viewers the freedom to access content anytime, anywhere, via an app or website. These services, accessible on any device with an internet connection and a screen—including streaming devices, smart TVs, set-top boxes, and game consoles—have become a staple in our daily lives.
Moreover, the industry is increasingly focusing on Free Ad-Supported Streaming Television (FAST) services offered by TV manufacturers. These platforms deliver streaming services for free, supported by advertisements, eliminating the need for viewers to sign up, subscribe, or purchase additional devices. Particularly popular in North American regions, these services have caught the attention of major players. Recently, Samsung and LG have announced investments in personalized content and services, aiming to strengthen their competitive edge in the FAST market.
The emergence of new services and platforms presents marketers with a valuable opportunity to explore a wide range of advertising and marketing strategies. Unlike traditional television, which broadcasts the same ads to all viewers, OTT advertising enables precise targeting of users and analysis of the resulting data. As a result, OTT advertising is increasingly popular among marketers and the competition for OTT ad space is expected to intensify in 2024.
#notsponsored User-generated content (UGC)
Honest reviews with real user photos often resonate more deeply than a brand's polished ad copy. This is why user-generated content like restaurant reviews, movie ratings, and purchase feedback tends to be more effective than any other marketing strategy. Even in 2024, marketing leveraging user-generated text, images, and videos remains highly active.
In one case, Airbridge customer Whoyaho implemented a marketing strategy aimed at encouraging users to create and share their own gameplay videos to drive organic user acquisition. This strategy targeted the alpha generation, who seek active involvement and a platform for their voices rather than mere consumption of what the brand offers. By facilitating the sharing of videos uploaded by their peers, users naturally engage with each other. With a marketing strategy that keeps up with the times, the company has been able to attract new users, reduce marketing costs, and establish itself in the global market.
👉Check out how Airbridge client Whoyaho incorporated UGC content into their marketing strategy!
Ads made by AI? Evolving trends in the industry
There has been ongoing discussion surrounding ChatGPT over the last year. Generative AI is also being explored in creative and artistic fields that were once considered irreplaceable by technology. For example, in the Samsung Life brand campaign, Cheil Worldwide successfully used AI to create all the elements of the ad, including design, imagery, and background music. The fact that an insurance company with a somewhat conservative image attempted to advertise using new technology generated a positive buzz and served as a reminder of the advancements in technology.
Furthermore, the industry is witnessing the emergence of services that allow users to enter a product detail page URL and automatically generate various types of ad banners and videos, or modify ad copy to make it more appealing to customers. Advertisers are also transitioning to machine learning-based real-time bidding, replacing the manual bidding processes of the past. AI's influence and impact on the advertising ecosystem are likely to grow stronger this year.
Privacy, no longer a choice, but a necessity
As privacy laws have strengthened worldwide, companies like Google and Apple have introduced privacy frameworks such as Privacy Sandbox and App Tracking Transparency (ATT) to ensure compliance with these regulations. This has limited the use of third-party data, which was extensively utilized in digital marketing. Consequently, there is now a renewed focus on first-party data, collected directly by companies through their platforms. The service, which provides retailers with ad space and infrastructure on their digital platforms like apps and websites, have gained attention as they allow advertisers to target specific audiences with high conversion rates.
Publishers are also working to reduce reliance on third-party data. For instance, Amazon DSPs have launched a service called Signal based Ads, which uses machine learning to bid and serve ads based on a combination of advertisers' first-party data and publishers' own signals. This year, the industry will continue to look for ways to maximize ad effectiveness while protecting user privacy.
👉If you're curious about the changing privacy trends in 2024, check out our content here.
While 2024 will undoubtedly bring disruptive changes to the industry, the new platforms, emerging content formats, and aggressive use of AI automation discussed above will be key breakthroughs for marketers. As marketers, our ultimate goal remains the same through all the changes: to earn the trust of our customers and grow our services. Stay ahead of the curve and embrace emerging trends so your strategy can win the hearts and minds of your customers this year.
