1st August, 2024
Every year, new trends emerge in advertising, and SMEs (small and medium-sized enterprises) try to adapt strategies to catch the wave of success.
But it can be difficult to keep your hand on the digital pulse all the time. That’s why we decided to give you some insights that will drive your advertising for the rest of the year.
Advertising automation continues to be a major trend that has tightly integrated into our lives and isn’t going anywhere.
All that’s left for SMEs to do is master working with the automated ad buying platform, especially since it has its own advantages. One of them is that the right users will only see the advertising message.
With automated ad buying, targeting can be set up, and the platform’s algorithms will select users suitable for the target audience and show the ad on different platforms.
One effective method of automated ad buying is programmatic advertising.
Along with a rich set of advertising inventory, advertisers can get a quality toolkit that offers audience conversion, fraud protection, and brand safety — all in a user-friendly interface.
At the same time, as browsers abandon cookies, the importance of tight integration between programmatic and demand-side platform is becoming apparent.
This highlights the advertising capabilities of automated buying, allowing advertisers to more effectively adapt to market changes.
Your target audience has spent years honing the art of spotting only what matters in the information noise and ignoring anything with no value.
For SMEs, this means it’s no longer as easy to catch the eye of a potential customer: only ads that hit the user’s request here and now get attention.
So, SMEs must continue moving away from a one-size-fits-all marketing approach (focusing on broad audience and reach) towards personalisation.
In this approach, advertising messages are tailored to the interests of the audience, and 71% of users like such ads. In addition to personalisation, neuromarketing will also be effective.
The foundation of effective personalisation is a combination of creativity, strategy, and the use of data to understand and engage the audience. Personalisation should be natural and unobtrusive.
Understanding your target audience is important to creating relevant and personalised ads.
Also, the design should match the brand’s corporate identity, including the logo, colours, fonts, etc. This will help build recognition and trust. Don’t forget to test different ad concepts to determine what works best with your audience.
In 2024, you can’t run ads on one channel and leave it alone.
SMEs are losing money without considering the customer journey in advertising (75% of users use multiple channels before buying). So, engaging audiences from multiple sources is already a necessity.
Hyper-personalisation will remain a valuable strategy, and investing in omnichannel strategies is the key to successful relationships with audiences.
Omnichannel marketing is key to creating unified and continuous contact with the customer through various channels.
SMEs that build a long-term relationship with the customer, taking into account omnichannel marketing, have higher performance indicators.
This is due to the greater number of brand touches with the audience and their higher loyalty as a consequence of this strategy.
Diversifying the advertising funnel and interacting with a targeted audience will be easier this year.
Platforms focus on developing new tools and directions that SMEs try out in their advertising campaigns.
With numerous channels emerging to warm the audience, SMEs actively need to implement funnel strategies for working with leads.
They use chatbots, complex marketing warm-ups in CRM channels, gamification, messengers, etc.
At the same time, this trend has significantly improved over the last year: AI’s development is changing how SMEs work with content and leads.
AI has enabled maximum automation of these funnels, as well as faster content creation and personalisation.
In the context of complex chains, the role of analytics at every stage of the user journey, from lead acquisition to sale, is increasing. New opportunities for optimisation are emerging.
Now, neural networks and artificial intelligence play an even more important role in marketing, changing how companies interact with their customers and optimise strategies.
In addition to content creation, they will be used to analyse data, predict demand, automate marketing processes, improve targeting, and create personalised advertising campaigns.
MYOB offers practical solutions for SMEs to enhance their advertising strategies while managing other business operations effectively.
MYOB’s accounting software helps SMEs track their expenses and revenue. This insight allows businesses to allocate their advertising budgets wisely, ensuring every dollar spent is effective.
MYOB’s business management solutions include customer relationship management (CRM) tools. These tools help businesses understand their customers’ preferences and behaviors, enabling the creation of more targeted and relevant ads.
For larger SMEs, MYOB’s Enterprise Resource Planning (ERP) systems streamline operations such as inventory management and supply chain logistics. This efficiency frees up resources, allowing businesses to focus on creating and executing effective advertising campaigns.
MYOB’s payment solutions integrate smoothly with advertising campaigns, making it easy for customers to complete transactions. This seamless process enhances customer experience and boosts the effectiveness of advertising efforts.
MYOB provides robust analytics and reporting tools to track the performance of advertising campaigns. By analysing metrics like conversion rates and return on investment, SMEs can make informed decisions and continuously improve their advertising strategies.
Programmatic ads, omnichannel marketing, personalisation, and AI. 2024 is full of technological innovation and emotional audience engagement.
There is no magic wand or silver bullet that will solve your approach to reaching potential customers.
However, your chances of better leads (and sales) will increase if you adapt your approach to the strategies listed above.