Data-driven marketing has transformed the way businesses operate and communicate with their audiences. As these technological advancements continue to revolutionize the industry, LiftEngine predicts six key trends that will reshape the marketing landscape by 2024. These predictions include a hyper-focus on Retention and Reactivation, print-on-demand, Connected TV, AI for creative, data modeling, and enhanced data tagging. From understanding audience behavior to creating personalized consumer experiences, these trends represent the future of strategic and efficient 2024 marketing.
Focusing on Retention and Reactivation Efforts: Strengthening Customer Relationships
In an uncertain economy, businesses shift from acquisition to retention and reactivation. In 2024, we feel this will be apparent. Maintaining existing relationships and re-engaging customers who have drifted away will be equally crucial to any business’s overall marketing goals.
Using an array of data, marketers can develop tailored campaigns to rekindle connections with lapsing customers or concentrate on building loyalty with current ones. Personalization through targeted emails, exclusive offers, and loyalty programs can be critical in creating exceptional, one-on-one experiences that leave a lasting impact on the customer.
LiftEngine emphasizes the importance of nurturing customer relationships through retention and reactivation efforts. By investing in these strategies, businesses can drive customer loyalty, increase lifetime customer value, and build a strong foundation for stable long-term growth in a competitive marketing environment.
Want to learn your current Customer Retention Rate? Learn with our detailed report.
On-Demand Printing: Redefining Personalization and Sustainability
A notable trend expected to gain traction in the marketing landscape
2024 is on-demand printing. With the ability to produce customized, tangible promotional materials per order, on-demand printing elevates personalization in marketing campaigns and drives sustainability by reducing waste.
Rather than ordering bulk quantities of generic marketing collateral, on-demand printing allows marketers to tailor content to specific audiences, demonstrating a higher personalization. Customers are more likely to resonate with and appreciate materials uniquely crafted for them, boosting a brand’s connection with its audience.
Moreover, on-demand printing supports environmentally friendly initiatives by cutting the amount of excess materials used and minimizing overall waste. LiftEngine envisions that companies integrating on-demand printing into their marketing strategies will reap benefits not only in customer experiences but also in their campaigns’ efficiency, cost-effectiveness, and sustainability.
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Connected TV: A New Channel for Digital Direct Marketing
Combining this targeting with the TV scale will provide marketers an unparalleled opportunity to diversify their media mix while ensuring their content resonates with the target audience. This shift to CTV represents a significant move towards more focused, data-centric television advertising. Check out our article on CTV.
Leveraging AI for Streamlined Creative and Customized Content
Artificial Intelligence (AI) will play a large part in generating marketing creative. The efficiency of AI-powered tools in coming up with promotional ideas, writing copy, and designing layouts will expedite the creative process immensely.
One of the more remarkable tools on our radar is AdCreative.ai. You choose your ad specs, upload your campaign images and copy, and set your brand color. From there, AI generates dozens of layouts for you to A/B test in upcoming campaigns. Their platform learns what works best over time to optimize your creative for conversions.
Data Modeling for an Improved Understanding of Your Audience
Data modeling involves using machine learning and artificial intelligence to estimate the likelihood of future outcomes based on historical data. Data modeling applications are vast, but we are building them for our clients to help determine which customers are most likely to respond to an upcoming campaign, so marketing dollars can be allocated accordingly.
LiftEngine foresees the more extensive integration of data modeling in marketing strategies as it reveals a richer understanding of customer bases and helps marketers save their budgets by not focusing on those with a low propensity to respond.
Leveraging More Data Everywhere
The more data at a marketer’s fingertips, the better decisions they can make on marketing campaigns. Importing data into the platform they use daily will be crucial for those running emails, print-on-demand, or other automated campaigns.
LiftEngine’s new service, Customer Tagging, makes this possible. We can provide 30+ demographic, interests, and lifestyle data elements into your favorite email or automation platform. No IT or migrations are needed. Contact us for more information.
With more data at their disposal, marketers have the potential to create more meaningful relationships with their customers while boosting engagement rates and achieving higher conversion levels. The added granularity enabled by tagging ensures that marketers are well-equipped to navigate the dynamic and personalized consumer demands of the marketing landscape in 2024.
Published on Oct. 05, 2023, Last Updated on Nov. 08, 2023