As the current year draws to a close, Mediashotz want to know what 2024 may have in store for brands and advertisers from the point of view of the adtech world.
While 2023 was dominated by economic woe, geopolitical tensions and increasing legislation, leading experts in the adtech sector share their predictions for brands, agencies and digital publishers for the coming year.
The long-awaited end of the cookie, the rise of AI in marketing, and new approaches to digital tech in the marketing industry are among the top trends to watch.
Predictions from Faye Leneghan, Strategy Lead at AMA:
According to Mintel, 2023 was the year of hyper-fatigue – a state of continuous physical, emotional and mental exhaustion. As some of the stresses of 2023 persist, such as the economic crisis and global political instability, we expect this overwhelm among consumers to continue, and is likely to affect the way they interact with the media.
It seems likely that 2024 will be the year of intentional media consumption, and consumers will become increasingly discerning about what they consume. Consumers are actively searching for ways to reduce their screen time, and digital audio provides an escape from the overwhelming feeling that can come from constantly being online.
Research found that over a third of listeners tune into digital audio as a way to destress, with 3 in 10 seeing digital audio as a break from screens. Therefore, we can expect the popularity of digital audio formats such as podcasts, audio books and digital radio to continue to impact how individuals consume media and thus how advertisers engage with them.
In 2024, consumers will not only be consuming media more intentionally, they will also be spending their money more intentionally. The effects of economic uncertainty will continue to prevail, causing consumers to think harder before spending. As a result, I suspect brands will take a more personalised approach to messaging to ensure they are targeting the correct audiences with content that is relevant to them. The capabilities of digital audio means that brands can tap into real-time data, such as weather and location to produce highly personalised ads that truly resonate with each individual listener.