2024: Ad agency model overhaul, ROI-driven marketing, increased focus on user generated content top projections
By Zion Rufus
2024 promises to be a transformative year in the IMC landscape, driven by advancements in technology, a focus on personalization, and a heightened awareness of sustainability and purpose-driven initiatives. As industry leaders prepare for these changes, the stage is set for innovation, creativity, and strategic shifts in marketing and communications.
Marketing and advertising experts are foreseeing dynamic shifts in the integrated marketing communications (IMC) landscape for 2024, with key trends focusing on robust return on investment (ROI) marketing, a surge in user-generated content, and seamless integration of social commerce.
During MARKETING EDGE’s Quarterly Summit themed “IMC Trends to watch out for in 2024,” Baba Awopetu, a Consultant in Strategy and Marketing at Stragmar, provided a deep dive into the evolving landscape, emphasizing value-driven marketing, consumer-centric approaches, data-driven strategies, contextual marketing, and the growing influence of AI and ML-powered strategies.
Social Commerce Boom
The surge in social commerce is reshaping Nigeria’s e-commerce scene, with the adoption of affordable smartphones and platforms like Instagram and WhatsApp transforming online shopping habits. Platforms such as Aleph Express and Selar are simplifying the process of setting up online stores, empowering Nigerians to engage in online commerce more effortlessly.
Stanislaus Martins, President of the Association of Digital Marketing Professionals (ADMARP), anticipates a significant boom in Nigeria’s social commerce sector in 2024, stressing the potential contribution of MSMEs to the country’s GDP.
“I expect several new entrants in social commerce to facilitate payments, storefronts, analytics, and logistics,” he said.
“Let’s do digital right in 2024. Let’s not focus on just spending the money on digital channels but in parallel focus on optimally using digital channels to drive actual business growth – This is what digital excels at but sadly most agencies and brands focus on the vanity KPIs that put digital in the same space as traditional channels. Let 2024 be the year we adopt a measurement mindset where we ensure digital campaigns push the performance and business impact needle. Personally, I’m super excited about what 2024 holds.”
Shifting Advertising Agency Strategies
Dolapo Otegbayi, a respected commercial director, emphasizes the importance of contextual marketing and channel prioritization in 2024.
“In 2024, it’s crucial for agencies and brands to prioritize contextual marketing and target the right channels. Focusing on customer niches will ensure the delivery of tailored marketing strategies, meeting their specific demands effectively,” she stated.
Jolomi Awala on his part predicts a rise in human-centric innovation (Humanovation) in 2024, emphasizing the need for brands to deliver more personalized and kindness-centered messages.
“In 2024, Humanovation, that is human-centric innovation, will become important. There will be a lot more human-centric messages, not only in story telling but also in story doings. Brands that can do this will be a major hit with consumers. Messages will no longer be just generic. Storytelling and ‘story doing’ will be anchored on kindness. Brands that are able to personalize not just their storytelling but also their story doing will be a hit in 2024. Our messages need to be more personalized. Brands need to recognize that we are human beings before human doing.”
Speaking further, he suggested a shift towards micro influencers for impactful campaigns and encouraged brands to create a pool of micro influencers for greater influence.
Rise of Creative Communication
Aizehi Itua, Founder of Aimone Creative Agency, envisions creative communication taking center stage, with a focus on crafting global messages.
Sharing this in an interview, he emphasized hyper-personalization through passion points, predicting a growth in lofi content on social media.
Henry Ononiwu, PHD Nigeria’s Head of New Business, Projects, and Partnerships, forecasts the emergence of new advertisers, leading to expanded expertise in data analytics, AI, and content creation. He also anticipates transformations in remuneration structures within agencies, emphasizing a shift towards performance-based models.
Influencer Marketing Dominance
Jude Odia, Managing Director of Starcom Media Perspective, anticipates a significant shift from traditional marketing to influencer marketing in 2024.
Noting the large following influencers command on social media which allows for allowing communication of brand messages to their audience, he stated that the direct communication of brand messages by influencers, who are perceived as experts and opinion leaders, aligns with consumers’ strong belief in their authenticity and information-sharing role.
Anticipated Focus on UX, Cybersecurity, and Sustainability
Damola Salvador, CEO/Lead Strategist of Digisplash, points out key areas to watch in 2024, including increased investment in User Experience (UX), heightened attention to Cybersecurity, a stronger focus on branding strategies, the rise of Authentic Influencer Marketing, seamless integration of Social Commerce, a surge in user-generated content, and an amplified focus on Sustainability and Purpose-Driven Marketing.
Embracing Artificial Intelligence and Cybersecurity
Stanislaus Martins also expects a continued surge in the use of Artificial Intelligence (AI), stating that 2024 will see even more significant developments in AI-based marketing.
“Just like in 2023, I think AI will still be huge. While lots of marketers sat on the sidelines in 2023, observing to see if this was yet another fad, I think 2024 will be even bigger for AI based on the impact it has begun to have on marketing and the massive strides being made in its development. AI changes everything – from strategy to execution. In the early days, we thought the “creatives” would be the least impacted/disrupted by AI, but we have been proven wrong in that regard as generative AI content development across text, audio, and visuals continues to blow our minds.”
“Contrary to what many say, I think that AI will take a lot of marketing jobs; it’s already happening and it will only get worse as AI gets better. As marketers, we should embrace AI while at the same time work at upskilling ourselves to make us more relevant to the workforce of the future,” he said.
Peter Adesanya, Deputy Group Head of Digital Strategy at The REDWOLF Company, highlights the crucial role AI will play in fortifying cybersecurity defenses. He notes that AI-powered cybersecurity solutions will be paramount in analyzing extensive datasets, identifying threats, and responding swiftly to mitigate risks.
Aizehi Itua concluded by emphasizing that AI will not only be a tool for analysis but also a cornerstone for crafting personalized and data-driven marketing strategies in 2024.
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