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In the ever-evolving world of digital marketing, trends and algorithms can quickly change just as one strategy starts to work, leaving you feeling like your campaigns are underperforming. But when going back to the drawing board, it’s important to consider the broader technology landscape and the signals that social media and digital platforms give about priorities.
By researching algorithm updates, considering technological advancements, and staying on top of feature releases from various social media networks, you can glean trends for the year ahead.
Social media will continue to play a big role in digital marketing as brands lean towards social commerce, social-based customer service, subscriptions, and AI. However, the method will be more nuanced and insightful than before.
Here are three key considerations for marketers in 2024:
The complicated path of value-based marketing
Today, value-based marketing is already part of the social identity of many companies. This idea incorporates a key message that responds to or is inspired by the salient social values of the brand’s target audience, and is statistically proven to reach and resonate with Millennials and his Generation Z. is strongly supported. These generations of consumers want to make meaningful connections. They typically partner with brands that embody their values, such as inclusivity, sustainability, and social responsibility.
But the past year has shown that value-based marketing can be a slippery slope in an increasingly partisan world. People want meaningful commitment from brands, not just lip service. And brands that don’t talk about allyship are often exposed to accusations of greenwashing or rainbowwashing, for example. Recently, we’ve seen some big brands lose revenue and brand reputation as value-based marketing backfires and angers a wide range of people who don’t subscribe to “woke” culture. did.
For brands, this means value-based marketing needs to be deeply considered and discussed at the C-level. Companies need to be very committed to the values they present through their marketing campaigns and ensure that they are also embedded in the fabric of their business as part of their corporate values and mission statement. This makes it easy to define your brand’s target audience and respond to regulations, policies, and global events with value-based marketing efforts.
The wider world of influencer marketing
Influencer marketing primarily started in the beauty and fashion fields, but has since expanded to all other fields, including B2B marketing. In fact, LinkedIn’s B2B Marketing Benchmark report found that 67% of B2B brands in Asia Pacific plan to increase their use of influencer marketing in 2024.
Despite its growing popularity, there are plenty of cautionary tales that prove influencer marketing isn’t a silver bullet. Reliability is key here. And it’s about finding people who love your products and solutions enough to co-create your brand’s story. Given that many social algorithms now prioritize user-generated content and engagement, and influencer marketing is critical for influencers to convey the right voice to their established audience, Breaking away from the traditional brand narrative and giving influencers more freedom in personalization is especially powerful.
Additionally, many social media platforms have introduced features that emphasize the importance of influencers as brand ambassadors. Instagram has rolled out broadcast channels similar to WhatsApp groups, allowing users to share messages with groups of subscribers. TikTok has launched a “Commission Eligible” tag to help creators promote their products and show their influence. And Snapchat introduced a Creator Collaborations update to encourage influencer partnerships.
When working with influencers, it remains important for marketers to find the right partnership and ensure it aligns with their brand values and resonates with their target audience. Brands that get this right will go a long way in fostering a deeper connection with their audience.
Transition to insight-driven marketing powered by AI
As digital marketing technology matures with the rise of AI solutions, brands can turn vast amounts of data into meaningful, actionable insights more quickly and efficiently. For example, social listening, natural language processing, and visual analytics can help marketers detect trends faster and better understand customer perceptions in real-time. This is a huge asset in the rapidly changing world of social media and digital marketing.
The power of social listening was recently highlighted by The North Face’s swift response to a video posted by an enraged hiker who flew into New Zealand wearing a new waterproof jacket and lambasted the brand’s rain jacket. Power quickly gained attention. Or when his CEO at Stanley offered to buy a customer a new car after “Stanley Cup” survived a car fire. These stories prove how social listening can help brands tap into both customer pain points and genuine advocacy, respond in a timely manner, and become more customer-centric.
Beyond reactive insights, AI tools provide predictive insights and drive more accurate business predictions. Importantly, this includes predicting his ROI on marketing investments, helping marketers validate campaign strategies, gaining a deeper understanding of where to spend their budgets, and meeting the ultimate goals of every marketing team. This includes achieving solid business results.
By taking the time to evaluate value-based marketing strategies, influencer marketing plans, and investments in AI tools that turn data into insights, marketers can level up their digital marketing campaigns for 2024 and improve marketing You can make important decisions that move your activities forward. business results.
This article was written by Upali Dasgupta, Marketing Director at Meltwater Asia-Pacific.
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