2024 is fast approaching. With holiday parties kicking off and the new year roaring at us like a feral house cat turned lion, we in the business development community are ready to go with business plans primed for 2024 success. But is that true?
The more I talk to people at events, the more I realize that a lot of business development strategies are fly by the seat of the pants. Or worse, not tested to determine ROI and whether that event or marketing strategy was a success in 2023.
So with this article, I want to point out some Marketing Trends for 2024 to hopefully foster a community of business development professionals and business owners that are focused on building real success for 2024.
Utilizing AI:
1. AI Chatbots:
AI chatbots are an integral part of AI-driven marketing. These bots leverage natural language processing (NLP) algorithms to understand and respond to user queries. They provide instant and personalized interactions, enhancing customer engagement. Implementing AI chatbots on websites and messaging platforms can streamline customer support, lead generation, and even sales processes.
2. Content Generation:
Content generation through AI is a game-changer in marketing. AI tools can analyze trends, customer preferences, and market dynamics to generate relevant and timely content. This not only saves time but also ensures that the content resonates with the target audience. ChatGPT, for instance, can be fine-tuned for specific industries, allowing businesses to tailor content to their unique needs.
Personalized Marketing
1. Data Cleaning for Personalization:
The longevity of personalized marketing relies heavily on accurate and clean data. Implementing robust data cleaning processes ensures that customer profiles are up-to-date and accurate. Advanced algorithms can assist in identifying patterns and trends within the data, enabling more effective segmentation and personalized messaging.
2. Advanced Email Personalization:
Beyond basic personalized salutations, advanced email marketing platforms leverage machine learning algorithms to analyze customer behavior. This allows for the delivery of highly targeted and personalized content, increasing the likelihood of customer engagement and conversion.
Video Marketing
1. Accessible Video Production:
The commendation for “Coffee with Kev” highlights the power of accessible video production. Advances in smartphone technology and user-friendly video editing apps make it easy for anyone to create compelling video content. Integrating video into marketing strategies helps in building a more authentic connection with the audience.
Trade Shows: 3D and Hologram Technologies
1. Hologram and 3D In-Booth Implementation:
Many marketing experts believe that trade show booths will start to encorporate more hologram and 3D technologies to engage with customers and prospects.
2. Augmented Reality (AR) and Virtual Reality (VR):
The resurgence of 3D and hologram technologies in trade shows is closely tied to advancements in AR and VR. These technologies offer immersive experiences, allowing attendees to interact with products and services in a virtual space. Integrating AR and VR into trade show booths provides a futuristic and engaging environment for potential customers.
Subscription-Based Offerings
1. Industry-Specific Models:
While the concept of subscription-based offerings has gained traction in various industries, tailoring it to specific sectors requires a deep understanding of customer needs. How does this play out in insurance claims services providers? I am not sure. But what we are seeing is car dealership service departments and others moving to a subscription based solutions concept and it is just a matter of time before it comes to us.
Relatable Social Media
1. Content Strategy and Brand Voice:
Find your brand voice and begin to tailor your social media posts to reflect your values and company culture. Want more engagement? Take a look on instagram at companies like SlimJim and Moonpies. These are companies that are understanding their consumers and creating posts that are funny and still highlight the product that they are selling.
While there are other trends that will be arising for 2024, these trends should ring true in a variety of industries. What do you think? Comment below or reach out with any thoughts or questions!