As we approach the end of 2023, it's time to look ahead to 2024 and consider what events might occur. What trends could emerge that as business owners, executives, and marketers, we should prepare for in advance? This post aims to highlight and explain some key points and perspectives to watch for in 2024, prompting thought and preparation.
Dynamic Content Form Dilemma
Platforms like Facebook, Instagram, YouTube, TikTok are still competing for consumer attention, intensifying platform development. However, the challenge lies with marketers, who now face a plethora of content forms to communicate with diverse target groups. The saying "One Size Fit One" will become more applicable, not just in terms of marketing messages but also content forms. Communicating through short videos, long videos, long articles, short posts, podcasts, photos, etc., becomes challenging without a robust production team.
This creates a dilemma for content strategy teams in choosing content forms and budgeting, while maintaining a balance for optimal ROI. Investing in comprehensive content coverage can be costly and potentially inefficient in chasing every content form. Content repurposing could be an alternative strategy for brands to maximize the utility of their content.
Scale by Generative AI
Generative AI, post-smartphone era, significantly impacts content creation in terms of speed and volume. Organizations and agencies adopting Generative AI will initially have a competitive advantage in the content war.
However, as Generative AI becomes more widely used, the advantage of having/not having such tools diminishes. The challenge then becomes who can cleverly scale their content production using Generative AI to meet the demands of various platforms and hyper-personalization, leading to better performance optimization.
Scannable Content
With the rise of short-form videos, there is a trend towards shorter attention spans. The ability to consume content is evolving, making it harder to maintain interest. Content is moving towards a format that allows for quick understanding, whether in text, image, or video form. We will likely see more 'scannable content', while the production of content with heavy content and presentation may decrease, especially on social media where 'Windows Browsing' is more common.
Algorithm Survival
Creators are pressured by platform algorithms, which have been reducing visibility. For brands, surviving algorithm changes may not be as challenging as for creators if they don't rely primarily on organic reach. Brands using paid media effectively and strategizing to reduce dependency on organic reach won't be significantly impacted. However, relying on free content and hoping for viral success in feeds will be challenging. Managing organic reach in algorithms is not straightforward compared to paid reach.
Thus, businesses should adjust and accept the need to prioritize paid media, while organic reach might play a more minor role, focusing more on always-on content rather than expecting it to be hero content.
Revised Content Marketing KPIs
With platform algorithm changes and the need to adapt strategies, such as diverse content channels, content marketing must revisit its metrics and goals. Signs already show that performance metrics are changing, and many brands have to adjust their content format, potentially losing some communication potential, just to maintain certain numbers like engagement rates.
Brands should seriously discuss whether certain metrics are truly suitable for their business. Overreliance on certain metrics without understanding their correlation to marketing results can be a dangerous trap, leading to victories in presentations but not necessarily winning customers' hearts.
Beginning of Immersive Content
Early next year, many will focus on a new gadget, the Apple Vision Pro, seen as the start of a new computing era (Spatial Computer). As with smartphones, other players will soon follow, leading to a demand for new content forms that maximize the potential of these devices. Immersive content designed for VR/AR devices is expected to increase.
The key question is how quickly Spatial Computers will become widespread and whether they will achieve the same ubiquity as smartphones or tablets. As usage increases, content production catering to this new mode of usage will also rise, providing brands with opportunities to capitalize on this emerging trend.
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