What Changed in Advertising in 2023: Trends for 2024

2023 was a bumpy ride, for sure. The economy was shaky, customers were careful with their spending, AI was on the rise, and there were lots of rules about privacy and data tracking. It all messed with the marketing game. In this article, we will talk about digital and affiliate marketing trends and its prospects in 2024. 

The shift in ad spend 

In 2023, many marketers had an increase in ad spending compared to 2022. Half of the people surveyed by Stacked Marketer were spending the same amount as before, yet many increased their ad budgets by 10–25%.

In particular, spending on physical products increased significantly. This is most likely due to media inflation: advertising prices (placement and production) are rising and competition is increasing.

Also, keep in mind that this study went down in the last quarter of the year. You know how it is — sales always take off at the end of the year. Christmas and New Year’s roll around, and people are splurging on gifts, grub, and getaways. With a ton of products flooding the market at that time and brands fighting tooth and nail for attention, companies gotta step up their game. So it totally makes sense that advertising costs would spike during that period.

Which channels and sources emerged as favorites?

According to the same research, the advertising dominance of Meta and Google continues, with a significant majority of advertisers continuing to allocate their budgets to these platforms. 

Notably, TikTok is losing ground to LinkedIn, which has recently introduced new ad features and algorithm updates. 

Influencer marketing is also worth highlighting — this is a really notable trend of the previous year and is likely to intensify in 2024. Our internal research shows that Influencer marketing is especially booming in the iGaming niche. 

And since we started talking about niches, let’s point out the most popular traffic sources for different affiliate marketing niches in 2023:

• E-commerce: Facebook, Instagram, Google Ads, BIGO Ads
• iGaming: Facebook, Google Ads, Google UAC, ASO, SEO
• Mobile gaming: Facebook, Mintegral, BIGO Ads, SEO

Tips:

• Test the local traffic sources of the GEOs you’re working with. Very often they give good results and are a valuable addition to traditional platforms, and sometimes even a good alternative. 

• Don’t spread yourself across different sources, choose one and invest your efforts and resources there.

• As for SEO, buy domains and links today, in a year or two the current prices will seem like pennies.

The current landscape of AI in marketing

It looks like the year ended just like it started — all about artificial intelligence. And now it seems like most marketers are onboard with AI, with 36% saying they use it in their daily marketing. Digital product advertisers are really into AI, with 42.3% using it every day, while physical product marketers are the least interested, with 12.3% saying they never use it. That’s astounding because there seem to be so many ways of using AI in e-commerce. Probably, the situation will change in 2024. 

Tip: Master AI writing tools — it will save you a lot of budget.

What to expect in 2024?

The advertising scene in early 2024 can be said to be shaped by the challenges and trends of the previous year. 

• Meta and Google continue to dominate as the preferred advertising platforms. 
• Influencer marketing has become a notable trend. 
• The use of artificial intelligence in marketing is gaining momentum and a significant portion of marketers are incorporating it into their daily strategies.
• Regulation and compliance will continue to be a top priority for brands and affiliates alike. Brands will be looking to work with affiliates who are compliant with all applicable laws and regulations, including those related to data privacy, gambling, and financial services. Affiliates will need to be aware of the latest regulations in their target markets and make sure they are in compliance.
• The growing importance of mobile traffic will continue to drive affiliate marketing trends. More and more people are using their mobile devices to shop, play games, and engage with content. Affiliates who focus on mobile will be well-positioned for success.

Nutra and e-commerce

• Growth in emerging markets will continue to drive affiliate marketing in these niches. Brands and affiliates will be looking to tap into the growing markets in Africa, Latin America, and Asia.
• The rise of influencer marketing will continue to be a major trend in these niches. Brands and affiliates will be looking to work with influencers who can reach and engage with their target audiences.

iGaming

• The legalization of iGaming in more countries will create new opportunities for affiliates. Brands and affiliates will be looking to expand into new markets.
• The growing use of AI will be a major trend in this niche. AI can be used to automate tasks, personalize campaigns, and improve targeting.

Payment systems

• The growing popularity of cryptocurrency will create new opportunities for affiliates. Brands and affiliates will be looking to accept cryptocurrency as a payment method.
• The rise of mobile payments will continue to be a major trend in this niche. More and more people are using their mobile devices to make payments.

Mobile apps

• The growing popularity of iOS will continue to be a major trend in this niche. More and more people are using iOS devices.
• The rise of PWA will continue to be a major trend in this niche. PWA apps offer a better user experience than traditional mobile apps.

Going forward, marketers need to constantly update their technical knowledge and carefully select traffic sources by looking at local options and investing efforts in a targeted manner. 

Best of luck with your marketing endeavors.