Where’s the Revenue? Avenues of Growth for Marketing Agencies in 2024
A multitude of transformations are on the horizon for the upcoming year.
The exciting part? The new year has yet to begin, giving you ample opportunity to embrace these trends ahead of your rivals.
Ideally, you’d begin harnessing these trends well before the turn of the year, granting you a valuable head start.
Here’s our vision of what’s set to materialize in 2024.
Trend #1: Businesses will opt for podcasts over blogs
In an ideal scenario, having both is advisable, but podcasting represents a vast, untapped opportunity.
Consider this: there are currently 1 billion blogs in existence, and with a global population of 7.8 billion, that translates to 1 blog for every 7.8 individuals. Now, shift your focus to podcasts, where there are 4.2 million in circulation. This equates to just 1 podcast for every 1,857 people.
Take a moment to visualize the disparity illustrated below. It’s a wide-open frontier of potential.
When it comes to boosting the popularity of your podcast, there are two primary strategies to consider:
- Email Blasts: Send out compelling email blasts each time you release a new episode. This approach can significantly increase your subscriber count. If you don’t have an email list, you can collaborate with those who do and compensate them for promoting your podcast. That’s where InvisiblePPC– a white label digital marketing agency can assist you in realizing your email marketing goals.
- Ad Swaps: Engage in ad swaps with other podcasters. This involves running google ads, facebook ads for each other’s podcasts within your respective shows. The beauty of ad swaps lies in the mutual benefit – regardless of the size of your podcast’s audience. It’s a fair exchange of impressions, so if you provide them with 100 ad impressions, they reciprocate with the same for you.
Trend #2: Companies Embrace Less Popular Social Networks for Greater ROI
While Facebook, YouTube, and Instagram reign as the giants of social media, they may not offer the most lucrative return on ad spend.
Consider these social networks that have delivered exceptional returns in the last 30 days:
X – 6.8
Pinterest – 5.2
Snap – 4.9
TikTok – 4.1
YouTube – 3.9
Instagram – 3.3
Facebook – 3.2
LinkedIn – 2.6
Take a look at this chart for a visual representation.
Remember, while a social network might offer a superior return on ad spend, it may not necessarily generate the desired volume.
Achieving success is a delicate balancing act, and ideally, you should consider advertising on all high-yield social networks.
Trend #3: Marketing Barriers Will Disappear, Except for Strong Brands.
The uniqueness of the iPhone doesn’t solely stem from their exceptional quality.
Many other smartphones boast similar high quality as well along with some providing better functionality.
What truly sets Apple and iPhone apart is the power of the brand!
Trend #4: A Shift in Content Writing Approach
This trend encompasses two essential aspects.
Initially, the landscape was dominated by lengthy 2300-word articles that held the top ranks on Google. Subsequently, the spotlight shifted to 1447-word articles.
Now, let’s examine the current average article length across various industries.
This shift is attributed to the “TikTokification” of content.
On average, users dedicate 95 minutes each day to indulge in bite-sized content. Another noteworthy point is that human-authored content will surpass AI-generated content. In a staggering 94.12% of cases, human-written content takes the lead over AI-created material.
However, what’s intriguing is the growing reliance of marketers on AI for content creation.
This shift presents an opportunity for your content to truly shine.
Consider harnessing human creativity for content generation. If you opt to incorporate AI, ensure that human editors refine the AI-generated content.
The statistic indicating a 94.12% advantage for human-created content is significant. This is particularly noteworthy because some marketers are gravitating towards automation, looking to AI to handle all tasks.
It’s not necessarily a negative development; it’s just that AI hasn’t reached the level of sophistication required for this approach to be effective, and it’s unlikely to do so in the immediate future.
Trend #5: Marketing Embraces a Global Perspective
While large corporations have already adopted this approach, mid-sized companies and startups are beginning to follow suit.
The era of exclusively targeting the US or the UK is giving way to a global expansion strategy. Why? Because that’s where the real opportunities lie.
Moreover, many regions outside the US offer lower competition levels.
However, what’s more fascinating is the trend of promoting locally while targeting customers globally. Various avenues for local advertising are on the rise- ppc management services, google ad accounts management, Local SEO etc. Local with Global is a world marketing slogan now.
The upcoming year, 2024, promises a wave of transformative changes, largely fueled by the rapid advancements in Artificial Intelligence (AI).
To truly make an impact and drive substantial revenue growth, your focus should be directed towards the trends outlined above. These are the game-changers that will propel your business forward and produce significant results.