The 2024 State of Marketing & Trends Report, based on insights from over 1,400 global marketers, highlights how marketers today are grappling with evolving trends and technologies, particularly artificial intelligence (AI) and social media, to enhance their strategies. Alongside AI, social media continues to dominate as a top marketing channel, offering unparalleled return on investment (ROI). Let’s dive into two significant trends shaping marketing in 2024: the dominance of social media and the persistent power of Facebook.
In 2024, social media remains the highest ROI marketing channel, evolving as a full-service platform for e-commerce. , It’s clear that these platforms are critical for product discovery and customer engagement since 43% of marketers using social media more than any other channel.
According to the report, social media has become the preferred product discovery channel for younger generations, such as Gen Z and Millennials.
Gen X and Boomers are also increasingly turning to social platforms to discover new products, with 47% of Gen X having used social media for product discovery in the past three months.
Instagram, TikTok, and Facebook offer virtual stores, enabling consumers to browse, buy, and interact with brands directly within the app.
In the past three months alone, 17% of users made in-app purchases, while one in four bought products based on influencer recommendations.
Social media’s ability to serve as a one-stop shop for discovery, purchase, and customer service is driving its growing importance in marketing strategies.
The report notes that 87% of marketers find social selling effective, and many plan to increase investments in these platforms for 2024.
Despite discussions about Facebook’s decline, the report finds that it remains a key player for marketers. Facebook is still the most popular social media platform, used by 57% of marketers globally, followed closely by Instagram, YouTube, TikTok, X (formerly Twitter), and LinkedIn.
Both Facebook and Instagram are tied for delivering the highest ROI, while YouTube and TikTok are also proving to be highly effective platforms
Marketers are increasingly experimenting with newer platforms.
Over 27% of them plan to leverage YouTube more in 2024, with TikTok and Facebook following closely behind.
While X and Threads continue to battle for relevance, the report shows that marketers currently see greater success on X, with 68% expecting better results from it in 2024 than from Threads.
The 2024 marketing landscape promises rapid change, with AI, social media, and powerful platforms like Facebook continuing to reshape how brands connect with consumers.
Stay updated with us at https://dagora.ch/contacts/
