5 Trends in Paid Advertising To Look Out For in 2024

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As 2023 comes to a close, marketers everywhere are looking ahead to 2024 and considering how to best allocate their ad budgets and efforts for the coming year. Major changes are afoot in the world of digital advertising, with new formats, platforms, and targeting capabilities emerging all the time.

Staying on top of the latest trends will be key to running successful paid ad campaigns that drive real business results. In this post, we’ll highlight five of the most important developments in paid advertising that savvy marketers should have on their radar for 2024. Understanding these rising trends, and figuring out how to leverage them, will help you make the most of your ad spend and connect with high-intent audiences next year.

1. AI-Generated Copy

One of the most exciting developments in 2024 will be the rapid advancement of AI tools that can help generate and optimize ad creative at scale. Marketers now have access to sophisticated copywriting and creative platforms that leverage large language models to churn out relevant, engaging headlines and body copy in seconds based on prompts. These AI tools go beyond just generating text – some can even consider tone of voice and audience demographics to match creative to your target customer.

The rise of automated creative coupled with enhanced testing capabilities will multiply the power of every marketing dollar spent. Marketers who embrace AI-generated content at scale will gain a distinct competitive advantage in 2024.

2. OTT/CTV Advertising

The rapid rise of over-the-top (OTT) streaming and connected TV (CTV) will make advertising on these platforms one of the breakout trends of 2024. As younger audiences continue to cut the cable cord, and even older demographics shift more of their viewing time to streaming services on smart TVs and devices, marketers are following suit.

CTV advertising spend in particular is expected to grow by over 13% by 2027 as brands allocate more of their video, display, and native budgets to places like Reveel, Hulu, and Roku. The targeting capabilities are far more advanced than traditional broadcast TV, and streaming ads can’t be skipped like DVR. With exciting new interactive ad formats like shoppable video emerging, marketers who shift more paid media resources into OTT and CTV opportunities earlier will have a leg up on the competition and can influence key purchase decisions moments before people buy online.

Read More: What is OTT Advertising?

3. Use of UGC in Paid Campaigns

Many brands have increasingly blended user generated content (UGC) into their paid ad efforts for more authentic and trustworthy promotions. Research shows that 79% of consumers reported that user generated content highly influences their purchasing decisions.

With reviews, social proof, and visual UGC having an outsized influence on purchase decisions today, smart marketers are finding ways to incorporate real customer photos, videos, ratings and testimonials directly within paid search, social, and display ads.

4. Use of Native Advertising

Native advertising will take on an increasingly important role in paid media plans in 2024 as savvy marketers shift more budgets away from display ads and into seamlessly integrated promoted content. Research shows native ads generate much higher engagement levels because they don’t look and feel like the typical disruptive ads.

Instead, native placements match the natural form and function of the sites they appear on. These experiences allow brands to reach engaged users in non-interruptive ways during natural discovery moments.

5. Paid Media Meets Influencer Marketing

The power of influencer marketing will make an even bigger impact in paid media efforts come 2024. As social platforms invest more in branded content capabilities, influencer content will become a vital creative asset for social advertising across key channels like TikTok and Instagram.

Paid boosting of branded influencer posts that tell authentic stories and highlight aspirational lifestyles enables brands to extend reach and engagement at lower production costs versus traditional ads. Many savvy brands diversifying creative approaches will add influencer content as a major method in 2024 social paid ad efforts.