2024 is fast approaching! It’s almost time to review your performance this year and get familiar with the latest advertising strategies to drive better results. One constant thing about the digital marketing space is that it keeps evolving, so it’s best to stay up-to-date with new tools, strategies, and technologies. In this guide, we will explore some of the most effective advertising strategies to set your business up for growth in 2024. Let’s discover some of the things you can do better in 2024!
Table of Contents
An advertising strategy or marketing strategy refers to an action plan aimed at creating awareness about a brand, attracting new customers, retaining existing customers, and increasing sales.
One of the things to know about an advertisement strategy is that it must align with your brand and goals. For this reason, any strategy you invest in should drive you towards achieving your business objectives. A successful advertising strategy will align with your brand identity, encourage your customers to take specific action, and help you reach your business goal.
A good advertising strategy often involves two components: information and persuasion. The information part provides details that help your audience understand your brand and products. Persuasion, on the other hand, involves influencing your audience's buying decisions and perceptions about your brand.
Paid advertising is a subset of advertising strategy that involves paying to attract new leads and increase sales. In a paid advertising strategy, business owners bid to display their ads on specific platforms for some time. Many social platforms like Google, Facebook, Instagram, and YouTube offer paid ad options for users who need to reach a wider audience. Ads can come in different formats like texts, videos, and images, and there is a budget for everyone.
As a business owner, you can’t count on the possibility of a customer stumbling upon you by “mistake.” The most successful businesses invest in strategic advertising to influence customers to buy from them. This is a better and more effective strategy than waiting for people to discover what you offer. With that said, some of the importance of advertising strategies are:
Advertising strategies act as powerful tools to attract customers. A good advertising strategy will help you identify your potential customers and create targeted ads to engage your audience.
If you want more people to know about your brand and what you do, developing an advertising strategy is the way to go. Advertising can help brands boost their awareness through compelling content and consistent messaging across different platforms.
The main goal of an advertising strategy is to get more people to buy from your brand. You can achieve this by developing content and ads that convince your customers to purchase from you.
Let’s take a look at some of the main types of advertising strategies we have:
Email marketing is a type of advertising strategy that involves engaging with your target audience through emails. This form of advertising is low-budget and delivers high ROI, making it one of the best advertising strategies. Email marketing is also easy to create and easy to track its performance.
Another type of advertising strategy to promote your brand and boost revenue is social media marketing. Social media has been a core part of marketing for a while now as it allows business owners to interact with their audience and promote their brands.
Content marketing is a great strategy to engage with your audience, position yourself as an authoritative brand, and generate organic traffic. A major part of content marketing is providing information on relevant topics or addressing your customers’ pain points. Content can take different forms, such as blog posts, videos, e-books, podcasts, and infographics. The purpose of content is to attract customers into the marketing funnel until they become paying customers.
SEO involves optimizing your website content to rank high for relevant searches on Google and other search engines. One of the benefits of SEO is that it makes it easy for customers looking for your products to find you. There are many SEO best practices; some of them include keyword research, backlinking, great UX design, and image optimization.
Traditional advertising involves placing content and ads on traditional platforms like print, magazines, TV, and billboards.
As the name implies, word-of-mouth marketing involves customers telling and referring other people to your business. Word-of-mouth marketing often happens spontaneously, but there are some strategies you can implement to get more people to talk about your product. This includes delivering excellent customer experience, asking for reviews, and collaborating with influencers.
There are many ways to advertise your brand, but you must ensure to invest in the best methods. Here are some of the top 10 advertising strategies based on marketing trends and predictions for 2024:
One of the top tips to maintain visibility is to optimize your website content for voice search. Many users now use voice-enabled devices, making voice search more popular. More than half of US consumers use voice search for quick facts and product research.1 As we prepare for 2024, consider optimizing your content to make it friendly for voice search. You can do this by using a conversational tone and natural language keywords.
The rise of AI has touched almost every aspect of our lives, including marketing. AI is useful in personalizing customer experience, automating repetitive tasks, and analyzing a large amount of data. AI also helps brands develop more personalized experiences and deepen customer engagement. Marketers who continue to utilize AI-powered tools will achieve a higher engagement level and create more effective campaigns.
AI again! Artificial intelligence has changed the way brands interact with customers. With AI-powered chatbots, you can integrate intelligent chatbots into your platforms to provide instant support. AI chatbots allow you to answer customer questions, guide them through purchases, and provide support. These tools will witness a resurgence in 2024 as more customers prefer to purchase from brands with fast and personalized customer support.2
Did you know 70% of customers use Instagram to plan their next purchase?3
The influence social media platforms have on customers’ buying decisions has invented social commerce. Brands are now optimizing their social media pages to facilitate sales and transactions through social networks. With features like in-app purchases and shoppable posts, 2024 brings in the opportunity for customers to purchase directly through social media feeds. In 2024, more businesses will use social commerce features on social media to showcase their products, receive orders, and process payments.
Influencer marketing will make a huge difference in 2024. Prepare your business for conversions and growth by identifying relevant influencers in your niche and collaborating with them. People with influence in your industry can help you boost your business credibility and get more people to buy from you through word-of-mouth marketing.
Omnichannel marketing is a strategy that involves reaching your customers through multiple touchpoints. Instead of using a single platform to reach your customers, omnichannel marketing embraces using various platforms and channels. Another crucial part of omnichannel marketing is providing a consistent customer experience across the different channels and platforms you use. For example, if your brand color is pink and white, you should use the same color on your website, social media pages, e-commerce store, and offline channels.
Investing in omnichannel marketing in 2024 will help improve your audience reach, drive engagement, and improve conversion.
Contextual advertising will become more beneficial in 2024 as users view it more positively than other forms of advertising. This form of advertising involves displaying ads on pages or websites related to your products. Contextual advertising is very effective because customers are generally likely to click on ads displayed on subjects that interest them.
For a while now, video marketing has become one of the best channels to boost customer engagement and create exciting brand stories.4 Video marketing is expected to continue its trajectory in 2024, so you should consider developing more videos about your brand. One of the best things about video marketing is its versatility. You can utilize videos to showcase your products, offer advice to your customers, create emotional narratives, and share behind-the-scenes experiences.
Also, many social media apps have video features like live, reels, and boomerangs to help users create immersive content.
User-generated content is going to be a lot more popular in 2024. 80% of customers prefer to buy from brands that use UGC as a digital marketing strategy.5 UGC describes original content created by your customers about your brand and uploaded on social media. As a business owner, it’s best to share this content on your own social media and website to build credibility and encourage more people to buy from you. UGC can be in different forms, like unpacking videos, product reviews, static pictures, and testimonials. UGC works as a word-of-mouth marketing and can have a positive influence on a buyer’s decision-making process.
Data-driven decision-making is the best way to stay ahead of the curve in this digital realm. With data, you can gain insights into your customers' behavior, identify market trends, and monitor your campaign performance.
Customers are not just buying from brands for their products but also their values and social responsibility. People prefer brands that are conscious about society and active in communicating on issues that matter to them. In 2024, take your time to highlight your purpose and join relevant conversations on social issues that align with your brand.
Now that you’re aware of some of the strategies you can equip your business within 2024, let’s explore some tips to improve the effectiveness of your digital advertising strategy:
The first step of developing any marketing campaign is identifying who you want to create the campaign for your target audience.
Who is buying from you? Who is likely to buy from you? Who is going to benefit from your products/services? The answer to these questions is who your target audience is.
Once you identify your target audience, it will be easier for you to communicate with them in the best ways. For example, if your target audience is college students, social media might be a more effective channel to communicate with them than printed ads. Some of the things you might need to know about your audience to improve your campaigns are age, location, gender, pain points, income level, hobbies, most-used digital channels, and so on.
In addition to identifying your target audience, you must also understand your market and industry. What are the current trends? Who are your competitors? What can you do similarly and differently from other brands in your industry? Gather enough information about your market size, trends, growth, etc., to find what is feasible for you to achieve in your industry. You can use a SWOT or PEST analysis to understand your market more.
Once you understand the current state of your industry and your audience, you can now identify the objectives of your advertising. In essence, objectives describe the target areas you want to focus on and things you want to achieve with your advertising campaigns. For example, you might want more organic visitors to your website or need more people to buy a specific product. A good objective should be specific, relevant to your business, attainable, and within a particular time frame. Also, your goals should be measurable, so you must be able to identify metrics to track the success of your campaign.
After listing your objectives, consider how much you have and are willing to spend on your marketing campaigns. Your budget will depend on what you can afford and the extent of your advertising campaigns. You must decide which channels to use and allocate a budget accordingly. Remember to go after the channels with low budgets and promising ROI, like email and social media.
Let’s take a look at two scenarios:
Company A displays ads for children's toys and devices in a generic newspaper. Company B places its ad in a parenting magazine. Which channel do you think it’s more appropriate?
It’s Company B!
There is nothing wrong with advertising children's toys in a newspaper that people widely read. But you know what’s better? Place your ad in a magazine made for parents who are most likely to need children’s toys. Both companies are targeting parents, but Company B is very strategic by placing their ads in a magazine made for parents.
Think about your business and think about the best place you can display your ads. If you are targeting college students, think about showing billboards near the school. If your target audience is seniors, consider reaching them through the radio or TV. The most appropriate channels are the channels your target audience uses the most. So before you launch your next marketing campaign, ask yourself, “Do my customers use this channel, and how likely is it for them to come across this ad?”
There are many advertising channels, such as direct mail, social media, print media, television ads, trade shows, etc.
One of the top reasons marketing campaigns fail is when brands fail to develop engaging and meaningful content. You need to understand that although customers like to buy, they don't like strategies that make it obvious you are trying to sell. A great way to navigate this is by sucking a customer in through engaging ad content. Your content should get the attention of your target audience and communicate your value proposition. Use great visuals, clear descriptions, and relevant metaphors to make your content memorable.
Tracking and measuring the results of your campaign is crucial to understanding your marketing performance and areas for improvement.6 You can track simple metrics like likes and comments for social media campaigns, click-through rates for email campaigns, and bounce rates for your websites.
The most powerful marketing strategy of 2024 is to showcase your products on a top B2B marketplace like Alibaba.com. In this way, you reach more customers and get access to advertising tools/strategies that the platform offers. One of the top things about Alibaba.com is that the platform provides advertising strategies and tools for users to reach and engage customers more effectively. Some of them include:
Keyword advertising (KWA): This e-commerce advertising on Alibaba.com helps increase visibility by optimizing for keywords that match buyer’s keywords. With this advertising strategy, your products will rank higher in search results corresponding to your buyer’s keywords.
Premium sponsored ads: Premium sponsored ads let your product appear first whenever a potential customer searches for a related keyword. This advertising strategy aims to promote your products to reach a wider audience.
You don’t have to wait till 2024 before exploring the advertising tools on Alibaba.com. Everything you need to increase your visibility, find customers, and achieve more business opportunities is on Alibaba.com. Create a seller’s account and start selling on Alibaba.com today!