This year 2023 saw a number of shifts in the marketing landscape, from the rebirth of Twitter as X to the AI boom. As we look ahead to 2024, here is what will—and won’t—grow in 2024.
What’s in:
Social media as a search engine
Social media is no longer just a way to connect with friends or consume entertaining video content. In 2022, 44% of consumers used social as a source for researching brand and product information (GWI). That search behavior has continued to grow as consumers now see social media channels as a discovery tool to explore new restaurants, brands, travel destinations, recipes and more. With consumers craving more visual representation with results, search demand on social media will start to eat into demand across more commonly known search engines. Marketers will need to shift strategies to ensure engaging organic and paid presences across platforms, meeting people wherever they might search for content.
First-party data as the new third-party data
While the death of the third-party cookie has been at hand for years, fewer than half of brands use first-party data today. Nearly all marketers, however, understand its necessity in achieving long-term success. As privacy concerns and regulations increase, there will be a significant increase in first-party data collection and use. This shift might feel like a strong one at first, but ultimately will deliver increased accuracy, performance and compliance for marketers.