It’s 2023 – that means it’s out with the old marketing strategies and in with the new. Well, not exactly. Most to all of the marketing trends that made our 2023 list are not ground-breaking ideas you’ve never heard of (hopefully), but they are the strategies that will end up having some of the highest success rates for marketers this year – there’s no doubt about it in our minds.
For legal purposes, our lawyers have advised us to remind you that WBG or any of its affiliates are not legally held responsible if you invest all of your company’s or personal life’s savings into one of the marketing trends mentioned below and lose all of it.
We are completely kidding; we don’t have lawyers – just a copywriter who makes terrible jokes. Anyways, let’s dive right into it and talk strategies for 2023.
User generated content & influencers
Influencer marketing really took off in 2022, but a lot of marketers question whether or not it’s worth the money. Well, thankfully, Harvard Business Review conducted a study at the end of 2022 and proved on average companies/brands found a 1% increase in influencer marketing spend led to an increase in engagement of 0.46%, suggesting that the strategy can in fact yield a positive ROI.
What’s even more interesting is HBR found the average firm in their dataset could have achieved a 16.6% increase in engagement simply by optimizing how they allocated their influencer marketing budgets.
So what exactly does it mean to optimize the way you allocate your influencer marketing budget? It means if you want to find success in the influencer market, you need to understand it better, just like any other marketing tool.
You don’t need to afford to hire a celebrity influencer with a million followers. In fact, micro-influencers often pack more punch because they are still considered ‘everyday’ people, and audiences are more likely to trust their opinions and recommendations.
Again, this form of social media marketing isn’t new to 2023, but it is becoming painfully evident that people want more authentic connections from brands, and word of mouth from influencers is a perfect way to promote those desired connections.
Improving the consumer experience
This may be our biggest and most important trend to follow for 2023. Consumers have always held the power to make or break brands, but now it’s more prominent than ever.
Being able to identify and improve consumer pain points throughout the customer journey is the easiest way to increase spending.
But how do we improve the consumer experience? A great way to start is by simply listening to what they have to say. VOC and Social Listening systems are some of the most helpful tools to find out more about your customer.
They can aid you in understanding what frustrates or appeals to your customers, what makes them give up during the purchasing process, and what they think of your brand overall.
By taking the necessary steps to start valuing your customer’s feedback, you can begin to return that value in the form of improved products and customer support, which ultimately builds brand loyalty.
Short Video Content
Video has been king for a while now – we all know that, but with the help of social media platforms and their algorithms, video is becoming not only the norm but a more tailored experience.
Audiences want to engage with relatable content to entertain them that they don’t have to actively seek out. Thanks to machine learning, viewers are now getting their own curated feed of personalized content that they can choose to engage or not engage with.
For content providers, this means two things. First, you need to provide value or entertainment before you try to sell your service or product. Viewers do not want to attend a timeshare meeting from the comfort of their homes. If you want potential consumers to engage, you must first give them what they want.
Secondly, content providers need to be ready to change up their content at a moment’s notice to serve a variety of audiences. This goes back to the idea of listening to what your consumer wants.
So remember, the human attention span has shrunk to that of a goldfish, which is a win for marketers since short-form videos can easily fit into your day-to-day marketing strategy thanks to little cost and convenience to make.
AI to better understand trends/behaviors
AI and machine learning are more powerful than ever and according to a study conducted by Razorfish, three-quarters of marketers are failing to implement behavioral data for targeted marketing.
These new technologies are more accessible and reliable than ever, and yet few are utilizing them.
AI/machine learning is great because it helps you make more targeted advertisements and campaigns by better understanding your buyers behaviors, likes, and aversions. Having data that precisely defines consumer demographics makes upscaling easier than ever.
And if you haven’t made the connection yet, this helps with creating a more authentic connection between brand and buyer. Nobody wants to see ads, but viewing an ad that feels like it was created specifically for you is a surefire way to build loyalty and retention.
Stay ahead of your competitors
Staying up to date with the latest marketing trends is pivotal for any brand. We don’t only talk about these trends, but we follow them ourselves. If you’re interested in learning how we implement these marketing strategies go ahead and visit Adtarg.