A few marketing trends last forever. In actuality, they come and go quickly, so marketers must adjust.

Because marketing is constantly evolving, so should your marketing playbook. However, if your plan appears to be unchanged from previous years, it is time to do some housekeeping.

Here, we’ll look at five marketing trends that are losing momentum and how marketers should respond.

Marketing Trends That Might Not Survive in 2024

• Account-Based Marketing
• The Metaverse
• Podcasts and additional audio content
• Audio chatrooms
• User-generated material.

1. Account-based marketing.

According to the annual State of Marketing study, only 13% of marketers would use account-based marketing (ABM) in 2023.

Dustin Brackett, CEO and Founder of HIVE Strategy, believes this makes sense. As he told me, “While I passionately believe in ABM and its effectiveness for organisations attempting to sell into a focused list of other organisations, I can see why it will never be at the top of marketing trends lists. ABM is really only useful for organisations with high-value consumers. Because ABM requires a significant investment of time, resources, and funds, there isn’t much ROI to be gained by engaging in it for a B2C organisation or any organisation with a smaller customer lifetime value.

Matt Freestone, Unmatched’s Managing Director, sees many of his clients investing in ABM. However, he argues that resistance to ABM stems from a lack of sales and marketing congruence.

As he puts it, “We’ve discovered that the reason ABM isn’t used by marketers is that many businesses still have sales and marketing alignment issues.” I believe ABM will make a comeback in 2024, as long as Sales and Marketing teams can collaborate to create effective campaigns and have common goals.

Finally, Katherine Forbes, Senior VP of Marketing at Creative Circle, argues that ABM is not at the top of the’marketing trends of 2024′ list because it has become the norm for the majority of sales reps. According to her, “The ABM approach has become so mainstream for B2B businesses that it can no longer be considered a differentiator or a trend.” In fact, it is more likely to be the cornerstone of a normal seller’s sales process than a marketing-only strategy.

She goes on to say, “ABM is still a fruitful technique, but marketing teams (like ours) may be better suited focused on providing a white-glove and personalised experience through their e-commerce and self-service choices. According to a Gartner, Inc. survey of 771 B2B buyers, 75% prefer a rep-free experience, yet those who buy exclusively through digital channels are more likely to regret their decision.

2. The metaverse.

Marketing is all about experimenting, and the metaverse has provided a new playground for marketers to explore. However, the early excitement appears to be fading.

In 2024, 14% of marketers want to discontinue marketing in the metaverse (including Horizon Worlds and Roblox). In addition, 13% intend to cease using VR and AR.

Although the metaverse is intriguing, it is proving challenging to implement. The technology is expensive, the hardware is unpleasant, and the adoption rate is slow.

Adrian Alexandrescu, CEO of Mediapost Martech, says, “I wasn’t a huge believer in the whole Metaverse notion since it sounded too much like something influenced by films like ‘Ready Player One.’ Fast forward to today: majority of our clients haven’t invested a cent in Metaverse Marketing, Roblox, or other similar platforms, and they have no intentions to in the foreseeable future.

“However, the metaverse is still in its infancy. Things may change as the situation evolves.

3. Podcasts and other audio content.

This one startled me. As a consumer, I listen to podcasts every day. And I’m not alone; around one in every four internet users listens to podcasts, and there will be over 500 million by 2024.

So, why wouldn’t podcasts appeal to marketers?

As Blend’s Marketing Manager Dan Stillgoe told me, “Businesses are frequently eager to take down podcasts because they do not get immediate ROI from them. True, a podcast cannot be used to directly attribute leads or revenue, but that is not its goal. Podcasts are a long-term brand-building channel that can boost affinity and connection to your brand like no other. When you consider the long-term and related benefits, podcasting becomes a sensible investment.

He adds, “Podcasting is the ideal way to create engaging and authentic content, which buyers are beginning to crave in this AI era.”

“In addition, I’m presuming that some marketers believe the entry hurdle is too high. Creating a complete, high-quality podcast episode takes time and resources. It requires more effort than, example, sharing an Instagram Reel, and it is more difficult to measure ROI. While it’s not easy, examine whether the majority of your customers listen to podcasts.

4. Audio chat rooms.

If you follow tech news and publishers like TechAcute, you’ve most likely came across an audio chat room at some point. Audio chat rooms, such as Clubhouse and Twitter Spaces, grew in popularity at the beginning of the pandemic, when many people were looking for ways to interact with others.

Fast forward to now, and more than a quarter (14%) of marketers want to discontinue spending in audio chat rooms by 2024.

Furthermore, only 13% of marketers spent in audio chat rooms in 2023.The main marketing issue with audio chat rooms is that customers prefer to communicate with people rather than businesses.

According to Stephen Lackey, VP of Marketing at SmartBug Media, the ephemeral nature of audio material in these rooms makes it difficult for marketers to leave a lasting impact. Unlike visual or written material, which can be easily accessed and shared with direct attribution, spoken words fade into the digital ether, making it more difficult for companies to keep a consistent presence in customers’ minds.

He goes on to say, “Moreover, the lack of visual features prevents marketers from harnessing the power of graphics and multimedia content, which will be critical in digital marketing in the future year. Marketers struggle to effectively engage their audience without the opportunity to exhibit products or services, possibly losing precious opportunities to convert interest into action (particularly given the large time investment required for these platforms).

Rather than relying on audio chat rooms, Lackey recommends that marketers use platforms that enable a more regulated, visually engaging, and scalable approach.

5. User-generated content.

In 2024, 13% of marketers intend to reduce their investments in user-generated content (UGC).

This could be due to a number of factors, including:

• Quality concerns: It can be difficult to maintain a consistent brand image when you rely on user-generated content, which may not always be of good quality.
• Limited control: Marketers have limited control over messaging when they’re reposting user-generated content. Additionally, it can be much harder to monitor comments and engagement on those posts.
• Difficulty measuring ROI: Marketers struggle to track ROI on user-generated content.

During this turbulent period in which customer preferences and behaviours are fast changing as a result of AI and altering algorithms, marketers may want to maintain complete control over the content they create, especially since it is easier to track the impact of their own content.

However, when I spoke with Emplifi’s Chief Strategy Officer Kyle Wong earlier last year, he emphasised the importance of UGC, saying, “When investing in a strategy around user-generated content, it’s important to understand the basics, which is this: We are investing in a strategy to essentially help capture more positive word-of-mouth marketing from our customers.

I don’t believe UGC is going away, but I can see why marketers may be temporarily limiting their commitment as they assess how consumer preferences and behaviours may change in 2024 — especially given the present prominence of influencer marketing.

FAQ

1. What are the key concerns about the future of marketing trends in 2024?

In 2023, many industry experts have raised doubts about certain marketing trends that may not sustain or evolve by 2024. These trends include heavy reliance on AI and machine learning, overemphasis on macro-influencers, and outdated digital marketing strategies.

2. Will AI remain a prominent tool for marketers in 2024?

While AI has been a game-changer for marketers in recent years, the landscape is evolving rapidly. By 2024, the focus may shift towards more human-centric marketing strategies that go beyond just automation and data processing.

3. How should marketing teams optimize their strategies to stay ahead of the marketing landscape in 2024?

To stay ahead in 2024, marketing teams need to align their efforts with the changing consumer behavior, prioritize customer experience, leverage AI tools intelligently, and focus on content creation that resonates with their audience.

4. Are influencers on platforms like TikTok still relevant in 2024?

While influencer marketing on platforms like TikTok has been popular, the trend may see a shift towards micro-influencers who offer more authentic connections with their followers in 2024.