LIVE updates: This month in search marketing [December 2023]

Dec 15th, 2023

Global advertising market statistics for 2023

Global ad revenue for 2023 is projected to reach approximately $889 billion, showing a year-over-year growth of 5.8%. Digital advertising on platforms like YouTube and TikTok are expected to increase by 9.2% in 2023. However, the growth rate is anticipated to slow to 5.3% in 2024 due to inflation and macroeconomic factors.

New research shows SMEs trust in digital advertising increase

New research reveals that 74% small & Medium sized businesses (SMEs) in the UK stated that they trust digital advertising techniques. This is a rise of almost 50% since 2020 – which is a positive step forward for the digital advertising community. Additional highlights from this research include:

  • 81% of SMEs believe digital advertising is crucial for business success (up from 63% in 2020)
  • 74% believe that digital advertising delivers a good ROI
  • Some SMEs are still struggling to justify the cost of paid advertising methods – and 93% are turning to free forms of advertising, such as organic social media

The use of QR codes predicted to rise in 2024

The revived use of QR codes marks a new chapter in the field of digital marketing. They’re a powerful tool we’re likely to see more of in 2024 – particularly with the predicted rise of augmented reality in digital marketing in the New Year.

The benefits of using QR codes in digital marketing are listed as follows:

  • Augmented customer engagement
  • Streamlined access to information
  • Quantifiable marketing campaigns
  • Economical marketing solutions

The decline of third-party cookies in 2024 is pushing an increase in organic search

Cookie-based tracking and retargeting, faces uncertainty as Google plans to phase out cookies by the end of 2024.  In response, marketers are reconsidering advertising budgets and shifting their focus to organic search marketing. It is important for marketers to adapt to the evolving search landscape, leveraging automation, and evaluating organic search as a key pillar in marketing strategies, especially as the era of cookies comes to an end.

New research sheds light on how marketers are using Generative AI in their content

Deloitte Digital’s recent report sheds light on the growing challenges confronting content marketers and highlights how innovative brands are achieving remarkable outcomes through the application of generative artificial intelligence. Key discoveries include:

  • One out of every four companies has successfully integrated generative AI into their marketing content, while an additional 45% of surveyed marketers plan to implement it by the close of 2024.
  • Early adopters are experiencing positive ROI from their generative AI investments, averaging a 12% return thus far.
  • Users of generative AI report saving an average of 11.4 hours per week, allowing them to redirect their efforts towards more valuable or strategic tasks.

Help your brand stay ahead of emerging trends to remain present and relevant in the competitive market, and speak to our experts at Click Consult today!

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