4 "Mega Trends" Shaping the Digital Marketing Industry in 2024

Not only is digital marketing a high-intensity profession with a significant turnover rate, but marketers also need to stay aware of "mega trends," learning new skills promptly to avoid obsolescence and being replaced by AI...

Students have had the opportunity to meet and interact with marketing experts through the Talkshow "Journey of a Professional Marketer."

Speaking about the marketing profession in the digital era, Ms. Dao Thu Ha, Director of the Digital Marketing Center, Vietnam Economic Times - VnEconomy, shared that based on an internal study by the world's largest PR agency, Edelman, conducted with 600 experts in the field, there are currently 4 "mega trends" shaping the digital marketing industry in 2024. These are GenAI, Virtual Reality (VR) and the Metaverse, the importance of customer experience, and the rise of fake news.

Gen AI is transforming the world, infiltrating all sectors from healthcare and logistics to banking and retail, and continues to receive investment for further development.

In this trend, communication and marketing are significantly impacted by GenAI. AI-driven marketing campaigns are expected to drive 45% of the global economy by 2030. 88% of marketers believe that their organizations need to enhance AI application to gain a competitive edge and meet customer expectations.

"With the advent of ChatGPT, Bard, Claude, and text-based Gen AI, 2024 promises further changes and developments in this field," said Ms. Dao Thu Ha.

Exploding growth, GenAI brings both opportunities and challenges to the marketing industry. GenAI can help marketing personnel monitor and collect real-time network information. Additionally, GenAI is a powerful tool for creative content professionals, enhancing personalization and the shopping experience.

However, marketers must also be aware of GenAI's risks, such as biases and hallucinations. Therefore, Ms. Ha suggests that digital marketers in the new era must update their technological knowledge, understand AI and its applications in work, and equip themselves with soft skills like critical thinking and emotional intelligence (EQ).

Beyond GenAI, AR/VR and the Metaverse are also significantly impacting marketing. Virtual reality headsets will become new tools for VR/AR advertising platforms, revolutionizing the field by providing immersive and interactive experiences unlike traditional advertising forms.

Moreover, customer experience is becoming a crucial factor influencing marketing activities, particularly towards faster and smarter customer interactions.

To ensure a quality and satisfying customer experience, marketers need to proactively create content that listens, understands, and adapts quickly to trends. Additionally, marketers must carefully consider communication strategies as customer expectations and behaviors will continuously change with the platforms they use. Particularly, they should leverage data to personalize the company’s services for each customer.

Another pressing issue in digital marketing is the rampant spread of fake news. In times of global geopolitical tensions, the rapid dissemination of misinformation can easily create doubts and geopolitical polarization.

According to Ms. Dao Thu Ha, AI-driven marketing campaigns are expected to drive 45% of the global economy by 2030.

Ms. Dao Thu Ha also noted that the rapid development of Gen AI is blurring the lines between real and virtual in both images and videos.

"Realistic videos and images created by deep-fake are posing risks for businesses, potentially being exploited to spread fake information. This will lead to the creation of software designed to detect and scan for fake information," said Ms. Ha.

Thus, educational programs and technological knowledge initiatives are expected to grow strongly to counter increasingly sophisticated fake news tactics.

MARKETING PERSONNEL FACE HIGH WORK INTENSITY AND TURNOVER RATES

With the development of technology and deep fakes, scam tactics are becoming more sophisticated, requiring media and marketing professionals to quickly adapt to protect their brand's or product's reputation and user trust. Essential skills include crisis management plans due to AI, continuously learning and updating on new trends to identify potential risks, and ensuring transparency in communications both internally and with customers.

"Marketing is a dynamic field and essential for any business or organization," Ms. Dao Thu Ha remarked.

Of course, every job has its own challenges and opportunities. Speaking about the marketing profession, Ms. Tu Quynh, Head of Campaign Marketing at Admicro, noted that marketing personnel often face high work intensity, frequently multitasking due to serving multiple clients simultaneously. Additionally, the turnover rate in marketing is high because of the demanding workload, leading to higher turnover rates in agencies compared to other companies.

Currently, new technologies like AI, the Metaverse, and tangible products like Vision Pro and Meta Quest are laying the foundation for a user experience revolution, where personalization is maximized to unprecedented levels in marketing and other fields.

Machine learning algorithms, AI-driven automation, and immersive experiences will redefine how brands interact and create experiences for customers. This signifies not only a technological shift but also heralds a new era of creativity centered around 'experience.

According to Ms. Nguyen Minh Phuong, PR Manager at 1C Vietnam, owning a great product is no longer enough in today's crowded tech market. "Marketers create compelling stories that attract the target audience, explain complex technologies in an understandable way, and drive sales through strategic campaigns. By understanding customer needs and creating targeted messages, marketing helps tech companies thrive," said Ms. Minh Phuong.

Thus, marketing will help build brand awareness, educate customers about the core value potential of products or services, and enhance customer loyalty while creating a positive brand image.

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