We Asked Chat GPT to Predict Advertising Trends
September 25th, 2023
Top 5 Trends for 2024
What they said: Artificial intelligence (AI) is expected to continue playing a significant role in advertising. AI algorithms can analyze large amounts of data to optimize ad targeting, personalize content, and deliver more relevant advertisements to consumers.
What we think: With the first half of 2023 alone, we’ve seen a large increase in AI uses for a number of reasons. From AI image creation to design to writing to analytics, we definitely agree with our dear friend Chat GPT on this one. The question that remains is how much of an influence will AI have on the creative industry? Sure, it can analyze data and create relevant algorithms, but can it take on the task of creativity the way humans can? We’ll have to see.
Privacy Conscious Advertising
What they said: With increasing concerns about data privacy and regulations like the General Data Protection Regulation (GDPR) and California Consumer Privacy Act (CCPA), advertisers are likely to focus on transparency and content-based approaches. Building trust with consumers and respecting their privacy will be crucial in 2024.
What we think: I feel like for this one, they talked a lot but said a little. Concerns about privacy for consumers have existed for decades, naturally, adjusting these pre-existing policies will better entice a consumer. It’s pretty obvious that the average internet user doesn’t like their data to be stolen, breached, or sold, yet these practices happen all of the time. This one doesn’t feel as new or trendy as AI, so I’m going to agree with the message but not the delivery.
Contextual and Native Advertising
What they said: Contextual advertising involves displaying ads that are relevant to the content a user is consuming. In 2024, advertisers may leverage contextual targeting to deliver more precise and non-disruptive ads. Native advertising, which seamlessly integrates ads into the surrounding content, is also expected to continue growing.
What we think: There is data that backs up both points of view for this one. Some consumers REALLY like that their ads are targeted, meaning that they are more likely to see ads for things they like and want to engage with. Others REALLY dislike the idea of their internet usage being monitored to the point of personalized advertising. It already freaks some people out to know that their phones/computers/devices are tracking their movements, seeing an uptick in this type of advertising will be interesting. It might even tie back into good ole Chat’s #2 trend on this list, increased privacy-conscious advertising. Hm… I might agree with Chat on this one.
Influencer Marketing and Micro-Influencers
What they said: Influencer marketing has been on the rise in recent years and is likely to continue evolving in 2024. Brands may collaborate with both macro and micro-influencers who have smaller, more niche audiences to target specific consumer segments effectively.
What we think: Influencer marketing has been around for awhile yes, but I think the trend of partnering with micro-influencers is on the rise. With features on social media sites like Tiktok’s creator fund and Tiktok shop on the market now, it is easier than ever to access creators, no matter the size of their audience. For companies who have a niche product, service, or experience, a micro-influencer who specializes in particular types of content could be extremely beneficial to the brand’s target audience.
A micro-influencer could be boiled down to someone with at least 10,000 followers on a platform. 10,000 sounds like a lot, but put into the perspective of mega-influencers, like Kylie Jenner for example, who has amassed (check’s notes) 394 MILLION followers on Instagram alone. These types of influencers aren’t as accessible to smaller businesses because the cost to do a partnership or brand deal with someone like Kylie is unattainable. I definitely agree with Chat GPT on this one, micro-influencers are on the come up and will continue to rise.
Interactive and Immersive Ad Experiences
What they said: Interactive and immersive ad experiences can help capture and retain consumer attention. Advertisers may leverage technologies like augmented reality (AR), virtual reality (VR), and gamification to create engaging and interactive ad campaigns.
What we think: If you don’t live under a rock, you probably saw the announcement of the Apple Vision Pro from this summer, Apple is dipping into the world of AR with their goggles. The trend is definitely on the rise, but the problem with AR and VR are the price points. Average small business owners will not be able to afford this kind of technology yet. It’s too new to be a viable option for everyone. The price point on the Apple goggles sits at $3,500, which if you are trying to think of frugal ways to develop your brand, this type of AR and VR technology might not be the way to go for now.