What do small & medium sized enterprises need to do in 2024? Our year-end SME marketing roundtable just ended, and I wanted to share some high-level conclusions.
1. Use AI In Your Marketing - Your Competitors Are
Over 3/4 of SMEs will be using AI-assisted marketing in 2024 (IBM). This goes way beyond using ChatGPT to draft an email. We've been engaging with AI to promote brands on Google, Meta, TikTok, etc. In 2023, this was a ticket to win. In 2024, it will be a ticket to play.
2. Talk WITH Your Customers, Not AT Them
Personalized, customized marketing wins every time. Use customer signals and personalized data to tailor your advertisements, website, and customer journey to what your audience responds to
3. Tear Up The Old SEO Playbook
Google's attempts to extort every last penny out of search results have effectively rendered them completely unusable. By breaking down the barriers between paid and organic listings and personalized search results, it seems they’re finally admitting what smart observers suspected for some time: their official guidance ≠ how their algorithm actually works. You now have a recipe for great risk (if you're ranking well) or huge opportunities (if you're not).
4. Don't Fight Social Media Commerce - Lean In
Once again, personalized, customized marketing wins every time. Leverage the modern shopper’s desire for ease and efficiency. Transform your social media strategy to include direct sales on Meta's platforms (Facebook & Instagram) and TikTok. This doesn't require a completely new approach to social media, but it does imply significant changes.
Best of luck to you in 2024! While I’m fairly confident about my early predictions, there’s one thing I know without a doubt: this next year is sure to be a wild ride. Stay agile and flexible.