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5 Performance Marketing Channels to Focus on in 2024



When we talk about digital marketing and running paid ads, our minds often go straight to the big three - Facebook, Instagram, and Google. While these platforms are solid choices with revenue-generating potential, there are other platforms that hold untapped potential but tend to be overlooked.


As we begin the new year, I think this is the perfect time to call this out. Marketers should start leveraging these other platforms. The reason why I’m saying this is that with more brands crowding common platforms, the market is heading towards oversaturation.


Plus, a data-driven marketing approach doesn't merely replicate what's effective; it actively explores and experiments with new strategies.


In this blog post, we'll delve into the top 5 performance media channels you should either be advertising on or, at the very least, experimenting with in 2024.


TikTok


In 2024, if you're not already on TikTok, you really need to be. Statistics show that in 2023, around 770 million people downloaded TikTok. That’s like a lot! Clearly, people have loved it in 2023 and will continue to love it this year.


Not only that, in the first quarter of 2023, TikTok users went all out and spent $1 billion. That's a big deal because TikTok is now the first app ever to hit the billion-dollar spending mark in just one quarter!


Significantly, the United States stands out as the major contributor to TikTok's spending spree. In the final quarter of 2022, Americans accounted for a substantial 37% of the total in-app expenditures.


TikTok users are also super active, with a crazy 91% of them actually taking an action after watching a TikTok ad. That's like six times more action than other platforms!


These are a few of the many reasons you should divert your marketing strategies to TikTok. Now, for your marketing strategy, TikTok provides various avenues:


Paid Ads: Use TikTok Promote to pick your end goal – more video views, new followers, or more traffic to your site. The app then shows your video in a way that suits your goal.


Ad Auctions: Get in on the auctions to bid for TikTok ads. You bid based on what you want – more clicks, more views, or just getting your ad seen. You can choose from:


Cost Per View (CPV)

Cost Per Click (CPC)

Cost Per Thousand Impressions (CPM)

Optimized Cost Per Thousand Impressions (oCPM)


What these options do is give you the control to make your TikTok ads work in a way that suits your business objectives.



TikTok Shop


TikTok Shop, introduced in September 2023, is like TikTok's latest approach for brands to sell products and expand their business. It's an all-in-one solution right on TikTok, making it easier for brands to reach more people and make sales directly in the app.


What I love about TikTok Shop is that it leverages TikTok's unique algorithm to assist brands and sellers in showcasing and selling their products directly on TikTok. 


Within TikTok Shop, businesses can establish an in-app store, create live and short videos to promote products, use checkout and shop ads, even collaborate with creators through an affiliate program. It's like a whole shopping experience right there in the app!



Quora


Quora is a social media platform centered around questions and answers. People use it to ask questions, get responses, and engage with one another. 


In 2024, this is definitely a good choice for your marketing efforts due to its massive engagement, boasting 400 million monthly users. It's an opportunity to establish authority, attract quality traffic, and generate leads for your website and products.


Quora provides a user-friendly ad platform, allowing advertisers to create personalised native ads. These ads can target users based on their interests, location, and browser preferences. 


Unlike some platforms, Quora ads operate through an auction system. This means you need to specify how much you're willing to bid for each click, similar to what you'd do with Google Ads or Facebook Ads. The flexibility comes in with the budget – there's no minimum requirement; you're in control of setting a budget that suits your needs!



Pinterest


Another not so common marketing platform, Pinterest serves as a site where individuals seek inspiration for things they already desire. 89% of Pinners actively seek and prefer visually captivating content. This unique characteristic allows the platform to host a diverse range of content, spanning from blogs to photos and videos.


On Pinterest, users, known as "Pinners," curate and share their content on boards, allowing it to circulate among their followers. This creates a ripple effect, presenting marketers with an opportunity to amplify brand awareness and expand their reach. Remarkably, 83% of Pinterest users have made purchases based on content they encountered on the platform.


Why this is a great platform for marketing is because many people on Pinterest are actively hunting for home trends, fashion, and beauty stuff they're already keen on. Their focused intent often translates into immediate purchase decisions once they find what they're seeking – making the marketer's job notably more straightforward.  Just cook up an eye-catching ad for your products, and boom, buyers start pouring in!


Ps, it's worth noting the impressive statistics – according to Pinterest Ads, marketers leveraging the platform enjoy the reach of 400 million Pinners on a monthly basis! So, you better start pinning!



Podcasts



The personal and intimate nature of podcasts plays a crucial role – people listen because they feel connected with the host. And in return, when the hosts endorse a product, their audience trusts them, making it an effective marketing channel. 


Plus, by providing podcast hosts with promo codes, you can precisely track the impact on your website traffic. Podcasts stand out as ideal partners for brands, reaching niche audiences while delivering value through entertaining, informative, or educational content.


While we're on the topic of podcasts, check out ours here!


Final Words


In conclusion, expanding your digital marketing strategy to include platforms beyond the usual Facebook, Instagram, and Google can be a game-changer in 2024. 


Diversifying your approach beyond mainstream platforms ensures your brand stands out in a crowded market. Embracing these alternative platforms can provide valuable opportunities and keep your brand ahead in an ever-evolving market.





SO, WHERE DO YOU FIND THIS PARTNER?


Well, aren’t we glad you asked! We at DigiCom are obsessive data-driven marketers pulling from multi-disciplinary strategies to unlock scale. We buy media across all platforms and placements and provide creative solutions alongside content creation, and conversion rate optimizations. We pride ourselves on your successes and will stop at nothing to help you grow.




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