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10 Predictions for the Marketing and Advertising Industry in 2024

January 28, 2024
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 Minutes

As we embark on a new year, the marketing and advertising landscape is poised for significant transformations. From shifts in data reliance to emerging technologies, here are Lewis Media's predictions that could shape the industry in 2024.

1. Trustworthy Data Takes Center Stage

Rather than continuing to gather as much data as possible, we think 2024 will witness a pivot toward collecting trustworthy data. Quality is set to supersede quantity as marketers learn to prioritize data integrity and consumer privacy.

2. Apple Enters the DSP Space

Apple is expected to dip its toes (or cannonball) into advertising by rolling out its Demand-Side Platform (DSP). This move could reshape the dynamics of digital advertising and will create new opportunities for marketers to explore.

3. Attention Metrics are on the Rise

Performance metrics are evolving beyond the familiar metrics such as Click-Through Rate (CTR), Video Completion Rate (VCR), Impressions, and Reach. Marketers need to understand their audiences inside and out, and attention metrics must be part of the equation when considering audience engagement. Factors like cursor speed and how long a person hovers over an advertisement are gaining traction and will help to provide additional insight into consumer behavior.

4. Rise of Gen Alpha

Gen Alpha, the generation following Gen Z, is turning 11 this year. These "mini-millennials" have grown up in a world of technology, with immediate entertainment available at their fingertips since birth. They are predicted to be incredibly opinionated and diverse in every aspect. Advertisers will need to learn what tactics appeal to this generation. We expect that marketers will need to think creatively to create unique digital experiences for a generation that's been raised in and isn't easily impressed by the digital world.  

5. Impact of the 2024 Olympics

The 2024 Summer Olympics is set to take place in Paris, France, and are expected to capture global attention. This will provide a once-every-four-year opportunity to reach new audiences through creative and impactful campaigns.

6. Google to Potentially Release "Search Generative Experience (SGE)" Tool

As Google experiments with generative AI and reimagines the capabilities of a search engine, search marketers have their sights set on a new tool. SGE is Google's new experimental tool that harnesses AI-powered search capabilities. SGE helps answer a user's questions while providing new questions and additional topics to consider, which will take the phrase "google it" to a whole new level.

7. Consumer Trust in Artificial Intelligence

Consumers are becoming increasingly wary of surfing the web and spending time on social media platforms, questioning the platforms' authenticity amidst the rise of AI. This newfound skepticism is a direct by-product of how easy AI makes it for people to fabricate content, including photos and documents. As consumers become uncertain of social media's legitimacy, marketers must focus on new ways to reach these audiences and regain their trust through transparent and ethical AI practices.

8. The Cookieless Future

In 2020, it was announced that cookies would disappear in two years… which would have been two years ago. Cookies haven't gone away yet; some believe that 2024 is the year that cookies crumble away for good. Others remain skeptical and think that the removal of cookies will get pushed back. At Lewis Media, we've been preparing for the cookieless future since it was first announced, so we're ready whether it's this year or the next.

9. Growing Opportunity for SEO Video Content

With 91% of businesses utilizing video marketing in 2023, the spotlight on video content continues to intensify, presenting a huge opportunity for video SEO (Search Engine Optimization) content in 2024.

10.  Digital Audio Spend vs. Measurement

Advertiser spend has increased year over year for digital audio, but performance measurements are falling behind. Marketers must lean heavily on data and insights from other digital channels and organic marketing to provide the context necessary to understand the efficacy of their audio campaigns.

All things considered, the 2024 marketing and advertising landscape is expected to be dynamic and filled with both challenges and opportunities. Adapting to these changes and staying ahead of the curve is crucial for businesses to stand out amongst their competitors. At Lewis Media, our team is backed by data-driven platforms that enable us to adapt quickly to industry changes. We continue to invest in tools that allow us to stay ahead of our competitors and allow our clients to stay ahead of theirs.

Lilie Malaeb