As we look ahead to 2024, we asked Chacka’s directors provide their insights into the future of digital marketing. From tackling measurement challenges and data privacy issues to navigating economic shifts and embracing revolutionary tech trends, their predictions offer a unique perspective on what lies ahead. These predictions serve as a guide for advertisers aiming to stay ahead in an ever-changing landscape.
Mastering the Measurement Maze
Sarah Kernan, Director of Paid Search:
Heading into the New Year (and beyond), measurement is going to be the most significant topic of conversation for advertisers. With the potential retirement of cookies and the introduction of additional privacy settings, the task of delving into silos and assigning individual values is becoming increasingly challenging. The more one attempts to navigate this complexity, the more painful it often becomes. Questions are already arising about the disparities in numbers between different tools, such as GA4 versus other measurement metrics. Clarifying distinctions between user-based, session-based, and cookie-based tracking has become a recurring part of the conversation.
How do you solve this? In this evolving landscape, advertisers who take a holistic perspective of marketing and its alignment with core business objectives are set to emerge. On the converse, those who compartmentalize contributions, viewing platforms like Meta and search engines separately, risk being left behind in 2024.
Aubree Rose, Director of Paid Search:
In 2024, advertisers will need to “future-proof” their first-party data. The time has come for them to close the gap in privacy settings and address potential cookie deprecations. They will need to configure their websites to capture first-party data, which can be fed back to engines. This ensures that algorithmic bidding continues to function the same way it always has.
Pro-Tip: The #1 top priority for advertisers now should be leveraging the existing Enhanced Conversions in Google Ads.
Navigating Ad Strategies Amid Economic Shifts and Growth Priorities
Shane Ragiel, Sr. Director of Strategy:
Emerging from the pandemic and luckily, a second recession that never materialized, there has been a renewed interest in efficiency over the last two years. Advertisers have stayed focused on customer retention and funding lower-funnel tactics to try to maximize performance. However, in the last year, and especially in Q4, there’s been a resurgence of ramping up investment and reaching new customers.
Looking forward to 2024, I anticipate that focus to continue, especially for lower-cost products and services, particularly as consumer spending grows, and inflation continues to decrease. On the flip side, higher-cost items (e.g., home buying and auto) may see more challenges in the coming year as interest rates remain high.
Do not expect to see the same level of lower funnel investments that we’ve seen in recent years – growth will be the name of the game in 2024.
Revolutionizing Social Strategies
Maria Aumaitre, Director of Digital Media
- AI-Enhanced Personalization: Advanced AI technology will tailor ads based on user behavior and demographics, boosting relevance. This innovation will allow advertisers to create ads more efficiently and quickly while ensuring a seamless experience for viewers.
- Surge in Interactive Ads: Anticipate a rise in interactive ad formats, such as AR, aimed at enhancing user engagement and immersion.
- Expansion of Social Commerce: Platforms will prioritize shoppable posts and smooth purchasing experiences, blurring the lines between social interaction and e-commerce.
- Video’s Continued Dominance: Video content will uphold its position as the preferred format for engaging audiences. Short-form videos, Stories, and Reels will remain vital components of paid social strategies due to their consistently high engagement rates.
- Advanced Communication Integration: Social platforms will integrate voice features through AI research models, enabling companies to create AI communication models for enhanced consumer interactions.
- Diversified Platform Approach: Brands will diversify their paid social efforts across various platforms, beyond the conventional giants like Facebook and Instagram. Emerging platforms with unique demographics or innovative ad formats will garner increased attention from advertisers.
- Importance of CAPI / Events API Implementation: With the predicted demise of cookies in 2024, CAPI / Events API will become crucial for effective data handling and tracking, ensuring advertisers can adapt to evolving privacy measures.
In wrapping up our 2024 predictions, the overarching theme is clear: adaptability is key. Whether it’s mastering measurement intricacies, future-proofing data strategies, or aligning marketing efforts with broader business goals, our directors’ insights provide a practical roadmap for navigating the dynamic digital marketing landscape.
Looking for insights on digital strategies for the upcoming year? Chacka has a team of experts ready to assist. Connect with us now for further details.