Paid Media

Trends in Paid Media that Will Dominate 2024

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In an era of intense competition in paid media advertising, the stakes have never been higher for brands seeking optimal results from their PPC campaigns. The sector is constantly evolving. With algorithm changes and a growing digital dependence shaping the dynamics of online advertising, brands are compelled not only to…

In an era of intense competition in paid media advertising, the stakes have never been higher for brands seeking optimal results from their PPC campaigns. The sector is constantly evolving. With algorithm changes and a growing digital dependence shaping the dynamics of online advertising, brands are compelled not only to comprehend but also proactively stay ahead of the curve. This imperative is further underscored by the fact that a substantial 75% of individuals acknowledge that paid search ads play a pivotal role in simplifying their quest for information on websites or search engines.    As we peer into the foreseeable future, dissecting the key trends defining paid media in 2024 and steering the course for how brands effectively engage with their target audiences becomes crucial.

#1. The Rise of Artificial Intelligence and Automation in PPC Platforms

In 2024, the use of artificial intelligence (AI) across PPC platforms is set to reach new heights. AI's potential to revolutionise various aspects of digital advertising, from ad copy creation to campaign management, is evident. Google's Performance Max campaign, for instance, leverages AI across various facets, including bidding, budget optimisation, audience targeting, creative crafting, attribution, and more. This AI-driven approach enables real-time optimisation and extends across multiple channels, such as YouTube, Display, Search, Discover, Gmail, and Maps.    Marketers will harness this potential with the usage of AI through tools for tasks such as broad-match keywords, responsive search ads, and smart bidding in Google Ads. However, while AI offers efficiency, balancing its use with human oversight will remain crucial.  Striking the right balance will be critical in maintaining the harmony between technological prowess and human insights into market trends.

#2. Rise of First-Party Data Utilisation

In a significant shift, third-party cookies, long relied upon in traditional digital advertising, are set to be completely phased out from Google Ads in 2024. This evolution compels marketers to pivot toward harnessing first-party data, ensuring their advertising strategies are driven by high-quality insights directly collected from their customer base.  Though the trend has been on rise ever since google made the announcement in the year 2021, we will see it reach its last phase and expect a rise in utilisation and collection of first party data.    As marketers embrace Google Analytics 4 (GA4) with a privacy-centric design, its role goes beyond analytics. GA4 becomes pivotal in crafting new target audiences, strategies, and budgets, aligning with the industry trend of prioritising consumer privacy. This trend will ensure personalised and relevant advertising, emphasising first-party data usage, reflecting a delicate balance between data-driven insights and respecting user privacy.  

#3. AR and VR Ads

Augmented Reality (AR) and Virtual Reality (VR) are not just futuristic concepts; they are now integral to advertising. These technologies redefine how brands engage with audiences, offering immersive and interactive experiences beyond the capabilities of traditional advertising methods. Interestingly, the global VR advertising market is expected to attain a revenue of US$174.0 million in 2024.   AR ads provide highly interactive experiences, allowing users to visualise products in their real-world environment. From furniture placement to virtual try-ons for fashion, AR enhances user experience and aids in informed purchasing decisions. VR advertising takes it further, immersing users in a virtual environment, which is particularly effective for experiential products like travel or entertainment.   The accessibility of AR and VR technologies, thanks to powerful smartphones and affordable VR headsets, expands their reach beyond niche markets. In 2024, these ads won’t just showcase products; they'll be about creating memorable experiences that build emotional connections with brands.

#4. Dynamic Creatives will Take the Spotlight

With personalisation and hyper-targeting on the rise, the forefront of advertising in 2024 is set to be dominated by dynamic creative ads. Marketers are recognising the potential of dynamic creatives in revolutionising their campaigns. Dynamic creative ads, a groundbreaking approach in advertising, leverage artificial intelligence for real-time customisation.  Unlike traditional static creatives, dynamic ads adjust their content, allowing marketers to tailor messages, visuals, and other elements based on user interactions, preferences, and context. This adaptability ensures that every ad resonates with the audience's unique preferences, creating a more personalised and engaging experience.  Brands like Purina have already started using this trend. Teaming up with Ad-Lib.io, Purina achieved a remarkable 112% uplift in CTR, producing 36 personalised variants for Amazon. By automating the creative process, Purina slashed time-to-market, lowered costs, and gained valuable insights into effective audience messaging. This success exemplifies how dynamic creative ads are revolutionising advertising.

#5. Contextual Targeting 

Another trend likely to dominate 2024 includes contextual targeting, heralding a new era of precision advertising. Contextual targeting is a visionary approach that strategically places ads based on the content of specific web pages, ensuring a seamless integration with users' evolving interests. Whether opting for category contextual targeting, keyword contextual targeting, or advanced semantic contextual targeting, businesses can anticipate a landscape where ads are finely tuned to the thematic essence of web pages for optimal impact.  Distinguished from behavioural targeting, contextual targeting propels us into a future where reaching receptive audiences is achieved without an over-reliance on user behaviour data. Its inherent advantages, including affordability, ease of implementation, and the ability to deliver personalised ad experiences, position contextual targeting as a powerful and forward-looking tool shaping the trajectory of advertising in 2024.

Conclusion

The trends outlined for 2024 underscore the industry's commitment to user privacy, audience-centric strategies, technological advancements, and engaging experiences. Marketers who adapt to these shifts are poised to stay relevant and unlock new possibilities in digital advertising. The future of paid media IS personalised, audience-driven, and filled with exciting possibilities.

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