Marketing efforts and campaigns increasingly demand unique ideas and creativity to capture and engage consumers in a world that is overloaded with content.
Beyond traditional means, 2023 saw many creatives incorporate experiential elements and storytelling to hold onto consumers’ attention. Many anticipated artificial intelligence (AI), automation, and interactive experiences to dominate marketing strategies, according to a report by Hubspot.
These trends continue to hold relevance as we march towards 2024. An analysis by Forbes this year predicted that AI-driven interactions will propel methods to engage consumers in real time and drive conversions.
Additionally, as virtual reality (VR) and augmented reality (AR) technologies advance, the border between the digital realm and reality is becoming increasingly porous, it said. Brands are set to increasingly incorporate these technologies into their marketing campaigns.
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Similarly, these AI solutions will also drive more personalised consumer experiences, such as through content recommendations and dynamic pricing tactics, according to a report by Brand Vision. Meanwhile, it predicted that AR will enhance the experiences that marketers create for consumers, such as virtual try-on features in the fashion industry or AR-powered home design simulations.
Given these trends, what will power creativity in the coming year? In this third instalment of MARKETING-INTERACTIVE’s “Where’s the Money?” series, eight creative agency professionals share their thoughts on what will be the moneymaker of 2024.
Tay Guan Hin, creative chairman, BBDO Singapore
To Tay, virtual reality (VR) is the winner to bet on for the profit turner of 2024. He highlighted how the market size for VR is on track to nearly double from 2022 to 2024, with the potential to soar beyond $22 billion by 2028.
According to Deloitte Global, the VR industry was set to