When it comes to online advertising, Google reigns supreme. Google holds the largest share of digital ad revenue by far, with Facebook and Amazon trailing in its footsteps.
As you finalize your Google Ads strategy for 2024, it’s smart to take a step back and ensure that you’re covering all your bases. Have you accounted for the most popular, and most effective, ad types? Are there any new advertising trends you should be watching, regarding AI or other technologies? What’s on the horizon for Google Ads?
Read on as we share the top three trends driving successful Google Ads strategies in 2024.
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1. Successful advertisers are investing more budget (wisely)
Ad spending is expected to reach nearly $700 billion in 2024, an 11% increase year over year. Translation: the marketers who succeed at Google Ads in 2024 will be the ones who are willing to invest more budget, and use it wisely.
In particular, savvy advertisers will increase their spend on video advertising. As video spend continues to increase for the fifth year in a row, with marketers spending nearly twice as much on short-form videos in 2024.
2. Successful advertisers are focusing heavily on video
Video offers Google advertisers some of the best results on all the metrics marketers care about: dwell time, traffic, leads, and sales. With 90% of brands including YouTube in their marketing strategy, it is the most used — and rated the most effective — video advertising channel.
Google video campaigns enable brands to reach audiences on not just YouTube, but also Google TV and Google’s large network of video partners. And, advertisers can choose from a number of video ad formats, including skippable and non-skippable ads.
3. Successful advertisers are leveraging Google’s AI-powered ad tech
As artificial intelligence continues to develop, we expect to see more AI offerings from Google Ads in 2024. For now, consider incorporating these AI-powered technologies in your Google Ads strategy.
Responsive Display: With Responsive Display ads, you simply upload a variety of assets (including logos, images, videos, headlines, and descriptions) and Google uses machine learning to combine them in real-time, creating the most effective ad for an individual user — and increased scale and efficiency for your Google ad strategy.
Smart Bidding: Also known as “auction-time bidding,” Google Ads Smart Bidding uses machine learning to optimize your bid to your advertising goal for each auction in real-time. Smart Bidding strategies include: maximize conversions, maximize conversion value, target CPA, and target ROAS.
Performance Max: Performance Max campaigns are the latest development in automated advertising technology. With these campaigns, you can leverage Google’s machine learning to auto-magically create campaigns for individual users, in real-time, across all of Google’s advertising channels, from search and display to Gmail, YouTube, and Google Maps. According to Google, advertisers who use Performance Max campaigns enjoy 18% more conversions — at the same cost per action — than advertisers who don’t.
Get more from Google Ads in 2024
The best Google Ads strategy in 2024 is one that is willing to invest budget, leverage more video, and take advantage of Google’s AI-powered features and enhanced audience targeting.
Given all of the new offerings from Google Ads, sometimes it can feel like success is a moving target. That’s why it helps to have an expert digital advertising agency on your side.
With Your Marketing People, our Google Ads experts have their eye on the latest developments coming out of Google, and the expertise to implement those new offerings in a way that benefits your bottom line — and reaches your advertising goals. Contact us today to learn how we can help you get more from Google Ads in 2024.
