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How brands are planning to navigate the social media & marketing landscape in 2024

Jan 12, 2024 - thedrum.com
A recent roundtable by The Drum and Brandwatch discussed the future of marketing, focusing on influencer marketing, AI, and the impact of the demise of third-party cookie data. As influencer marketing becomes more established, there is a need for clear guidelines and regulations. Brands are encouraged to build long-term relationships with influencers and to ensure their values align. AI is expected to play a larger role in influencer marketing and content creation, with an emphasis on regulation, authenticity, and control. The potential of AI to accelerate social listening and content creation was highlighted, but concerns were raised about bias in AI algorithms.

The deprecation of third-party cookie data in 2024 is expected to lead to a greater reliance on first-party data, with an emphasis on privacy and regulatory issues. Businesses will need to develop first-party sources and remove silos within their organizations to facilitate first-party targeting. Social media platforms like TikTok are likely to provide social commerce as a direct link between brands and consumers. The roundtable concluded that brands that build strong, direct relationships with customers through influencer and AI-driven content have significant growth opportunities in the future.

Key takeaways:

  • Influencer marketing is expected to become more prevalent in 2024, with clear guidelines and regulations needed, especially in financial services.
  • Artificial Intelligence (AI) will play an increased role in influencer marketing and content creation, with issues of regulation, authenticity of voice, and control emerging as significant issues.
  • The deprecation of third-party cookie data on Chrome in 2024 will likely lead to advertisers placing greater reliance on first-party data and focusing on the privacy and regulatory issues accompanying this.
  • Brands that build strong, direct relationships with customers through influencer and AI-driven content have a big opportunity for growth in the years ahead.
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