Growing Your Business in 2024: What’s Working and What’s Not
In the ever-evolving world of digital marketing, growing your business requires a nuanced understanding of industry shifts, changing buyer behavior, and tech advancements. If you’ve been in the online business world for a while, you’ve likely seen the landscape transform dramatically over the years. From the rise of Instagram to the recent boom in AI-driven marketing, businesses have had to adapt continuously. In this episode, we’ll explore the key trends that have shaped digital marketing over the last decade and dive deep into what strategies are working—and which ones are falling flat—in 2024.
Let’s take it back a few years…
The past decade has been a rollercoaster for digital marketing and content creation. Let’s start by looking back at how the industry has evolved:
2015-2016: The Rise of Visual Content and Influencer Marketing
Back in 2015-2016, visual content became king. Platforms like Instagram and Snapchat skyrocketed in popularity, giving birth to influencer marketing. Influencers started leveraging their personal brands to promote products more authentically than traditional advertisements. This shift was driven by improved smartphone cameras and faster internet speeds, making visual content more engaging. Consumers, tired of traditional ads, were drawn to relatable voices they could trust.
2017-2018: The Algorithm Wars and Video Content Boom
As social media platforms became crowded, the competition for organic reach intensified. Facebook and Instagram introduced algorithm changes that prioritized content likely to generate engagement, such as comments and shares. This period also saw a significant shift toward video content, especially live video and Stories—a trend pioneered by Snapchat and quickly adopted by Instagram and Facebook. Video content, particularly live video, offered real-time interaction and boosted engagement.
2019-2020: Authenticity, Micro-Influencers, and Community Building
By 2019, audiences were becoming weary of the overly polished influencer culture. Enter micro-influencers—those with smaller, but highly engaged audiences. Brands began focusing more on authenticity and community-building through platforms like Facebook Groups and Instagram Stories. This era also marked a growing skepticism toward traditional ads and large influencers, leading to a preference for brands that were authentic and community-focused.
2020-2021: The Pandemic Effect and the Creator Economy
The COVID-19 pandemic accelerated digital transformation, forcing businesses and consumers online at unprecedented rates. Platforms like TikTok, with their short-form video format, became insanely popular. Meanwhile, the “creator economy” took off, with more people than ever monetizing their skills through digital courses, webinars, and memberships.
2022-2023: Diversification of Content and Rise of AI in Marketing
By 2022, businesses had started diversifying their content strategies to include various formats like short-form videos, long-form blogs, podcasts, and newsletters. AI and automation tools began playing a significant role in content creation, personalization, and customer service. These tools helped businesses make better data-driven decisions and deliver more tailored marketing campaigns.
2024: Hyper-Personalization, Community-Led Growth, and Ethical Marketing
Now, in 2024, the buzzwords are hyper-personalization, community-led growth, and ethical marketing. Consumers are more privacy-conscious and discerning than ever, and they want to feel like they’re part of a community rather than just another sales target. Brands that leverage community-led growth and ethical practices are more likely to succeed.
What’s Not Working Anymore?
While growing your business requires adapting to new trends, it also involves shedding strategies that no longer work. Let’s look at what isn’t working in 2024:
01. Overly Polished and Perfect Content
Gone are the days when a perfectly curated Instagram feed would guarantee growth. Today’s audiences crave authenticity and relatability over perfection. Content that feels too staged or corporate can come across as inauthentic, leading to lower engagement rates. People want to see the real you, not a glossy version curated for likes.
02. One-Size-Fits-All Email Blasts
Email marketing is still a powerful tool, but generic, one-size-fits-all email campaigns are falling flat. Audiences now expect more personalized and segmented communication that speaks directly to their needs and behaviors. Emails that feel like they were written specifically for them are far more effective than a mass blast.
03. Relying Solely on Organic Reach
The decline of organic reach on platforms like Facebook and Instagram has been well-documented. If you’re relying solely on organic growth without incorporating paid advertising, you’re likely facing a tough uphill battle. Paid ads and boosted content are becoming necessary to complement organic efforts, ensuring your brand reaches a broader audience.
04. High-Pressure, Traditional Sales Funnels
Consumers today are savvier than ever and have become highly skeptical of aggressive sales tactics like constant upsells, countdown timers, and scarcity tactics. These traditional sales funnels are becoming less effective. Instead, audiences prefer value-driven and trust-building content.
05. Heavy Reliance on Discounts and Flash Sales
While discounts can generate a quick boost in sales, over-reliance on them can devalue your brand and lead to price sensitivity. Customers today are looking for value-added offers, exclusive content, or unique experiences instead of constant discounts.
What’s Working to Grow Your Business in 2024?
Now that we’ve covered what’s not working, let’s dive into the strategies that are proving effective for growing your business this year:
01. Original Short-Form Video Content with a Diversified Multi-Platform Strategy
Short-form videos on platforms like TikTok, Instagram Reels, and YouTube Shorts continue to dominate in terms of engagement. Quick tips, behind-the-scenes content, and original stories in short-form video format are still the most engaging, captivating form of content. The key is to be consistent, authentic, and relevant with your videos as it’s no longer enough to just jump on the latest trend and hope for the best.
But, you need to tie in a diversified multi-platform strategy. Unless you are brand new and still building out your brand, you really ought to be on one social media platform as your traffic source as well as growing your email list. Social media is a great way to grow, engage and convert your community, but it’s rented space. The sooner you start building a diversified digital presence as well as your own email list, the more security you have for your business. If 2024 hasn’t shown you how important it is to have a form of security, I don’t know what will…
02. Personalized Email Marketing
Email marketing isn’t going anywhere, but it’s changing it’s style with a focus on personalized and segmented. Hyper-segmentation and behavior-triggered email sequences are seeing higher open and conversion rates. Emails that feel personal, as if you’re speaking directly to a single person, perform exceptionally well.
03. AI-Powered Content Creation and Automation
AI and automation tools are becoming increasingly essential in the content creation process. Personally, I don’t like the idea of allowing AI to be the creator and writer of content, because then we lose authenticity and people’s unique voices. But, AI isn’t going anywhere. In fact, you should see AI as your new marketing assistant. Don’t use AI to write your blogs for you, but ask it to help find relevant sources or to help turn your ideas into a strategy. These tools also help streamline your marketing workflows, saving time and increasing efficiency because you can ask AI to take your messy ideas and formulate them into a personalised plan by sharing your unique method and strategy.
04. Collaborative and Co-Creation Campaigns
Collaboration is the name of the game in 2024. Businesses are teaming up with other businesses, to co-create, collaborate or run affiliate-launches. This approach not only broadens reach but also creates buzz and builds a sense of community.
An example of people who co-create and collaborate with their marketing is Amy Porterfield and Jenna Kutcher. Or, James Wedmore with his army of JV affiliates.
05. Live Launches
Live launches and limited-time offers continue to be a successful strategy. The urgency and exclusivity of these campaigns drive conversions. Live webinars and exclusive offers create a sense of urgency that pushes potential customers to take immediate action, but the way in which these strategies are being deployed has changed. Instead of using false scarcity and countdown tools, you want to focus on authentic reasons for someone to join NOW.
06. Subscription Models and Memberships
Predictable, recurring revenue models like memberships and subscriptions are becoming increasingly popular. Offering exclusive content, community access, or special resources keeps customers engaged over a longer period, increasing their lifetime value.
The Key to Growing your Business in 2024
Regardless of what strategies you use, the most crucial aspect of growing your business sustainably is building a strong personal brand and community. This concept isn’t new, but it’s more relevant now than ever. People want to connect with other people, not faceless brands. By building a community around your personal brand, you create loyal advocates who will support and promote your business.
You can be multi-faceted when building your brand, but if you want to establish a recognizable and renowned brand identity, you need to become known for one thing—your “brand mantra.” What statement or identity do you want your brand to be known for? Start there, and the rest will follow.
Growing your business in 2024 isn’t just about keeping up with trends; it’s about adapting to the changing landscape, leveraging new tools and strategies, and staying true to your brand’s core values. The digital marketing world is dynamic, but by focusing on authenticity, community, and value-driven content, you can build a brand that not only survives but thrives.
If you’re ready to dive deeper into these topics and learn how to implement these strategies effectively, make sure to listen to the full episode of my podcast. You’ll get more insights, actionable tips, and real-life examples of how businesses are navigating the ever-changing digital marketing landscape.
Topics covered on how to grow your business in 2024:
- An analysis of the last decade in digital marketing
- What is no longer working to grow your business
- My recommendation for what to do to grow your business in 2024
- The one thing you should focus on to create sustainable growth
Resources & Links:
- Set up and launch your business with the best all-in-one platform, Kajabi.
- Sign up to my fave project management tool, ClickUp using my link.
- Create your Own Signature Offer with my free workbook – download it here!
- Scale your Business to Freedom with my free playbook that takes you through my 3-step framework INCLUDING a self-assessment quiz to identify where you are out of alignment in your life and business
Connect with India:
Related Episodes:
- Episode 32: Solopreneur to CEO: How to Start Running your Business like a CEO
- Episode 36: The 3 Phases of Entrepreneurship & How to Accelerate Through Each
- Episode 30: How to Plan & Create Content like a Boss
More about Becoming CEO:
Becoming CEO is the podcast for online entrepreneurs who are craving for their mindset and perspective to be expanded, who want to be surrounded by other high-achieving entrepreneurs for continued motivation, who are curious about how others run their businesses and who want to learn on the go. It’s a show that will guide you how to build, grow and scale your dream online business your way.
Whether you’re just getting started or scaling your online business to 6-figures and beyond, each week, your host India Butler and her guests will share purposeful, profitable and sustainable strategies for creating the freedom you desire – without the fluffy BS.
Your host, India Butler – a Business Mentor, Multiple 6-Figure Entrepreneur, and CEO mama – leads eye-opening solo episodes and engaging interviews with leading industry experts. Dive into discussions on entrepreneurship, mindset, energetics, leadership, motherhood, and unfiltered life.
