Marketing Trends to Watch Out for in 2023
The world of marketing is evolving at the speed of light, literally! 2023 is not going to be easy for marketers. You need to be prepared for all kinds of crises as well as be ready to face the different challenges of the fast-paced world of marketing.
Whatever the case, it is advisable that marketing budgets are managed optimally and marketers stay on top of techs and trends that are rapidly influencing marketing.
So, here we go!
Consumers are expecting brands to be inclusive
In the modern post-Covid-19 world, consumers are not just limiting themselves to the ‘online’ medium. ‘Offline’ is trending too. And in this holistic world, customers are expecting brands to empathize more with their diverse audience, be it through their messages, conversations, or any other form of interaction with the market.
People are less tolerant now of diversity-deaf and inappropriate tone and language. Especially when the target audience is Gen-Z, marketers have to be very smart and progressive in their campaigns. Trustworthiness and Transparency are two important words for this generation of consumers.
Interestingly, consumers are expecting Diversity, Equality, and Inclusion to be demonstrated across the board of an organization, even in the way the employees are treated.
Here’s an example. Mr. Tim Boyle, the CEO of Columbia Sportswear, took a voluntarily cut in his salary to $10k in 2020 to pay the salaries of his retail staff when stores were forced to close. These kinds of efforts are noticed by consumers more than ever now. And in 2021, the company reported a 24.98% increase in revenues.
The Era of Social Media, Creators & Influencers will continue
There is no stopping the popularity or the growth of social media. But, after the topsy-turvy at Twitter, users are showing their preference to stick to platforms and apps that give them more control and power over their content.
The concept of the ‘creator economy’ is not new - it started a few years back. Brands are more focused on social media than ever before. Hence, the demand for valuable content creators is only going to increase in 2023. Two things important are - the fan base and the kind of content created by the creator.
Brands & marketers will need to look within their organization, families, and acquaintances. You’ll find employees, vendors, or customers who are willing and have the capability to create phenomenal content with a decent follower base. Instead of going after celebrities or expensive influencers!
HubSpot’s 2022 State of Consumer Trends Report mentions that almost 30% of youngsters in the age group of 18 to 24 and 40% of the people aged 24 to 34 consider themselves content creators.
Additional Read: Check out everything you need to know about influencer marketing right here.
Data Privacy Will Be Much Talked About
Marketers need to swiftly shift from relying on third-party to first-party data. As per experts, Google will be removing third-party cookies in 2024. This is another way of saying that users will now start to have more control over their data.
In preparation, marketers need to start collating data upfront from customers through surveys. Dependence on cookies for too long will soon be irrelevant.
Video Marketing, Livestreaming & Snackable Videos Are In
Video marketing will stay an integral part of a digital marketer’s weapon. SERPs love to list content with videos while users prefer videos to text anyway. Repurposing videos from written content is a viable trend in 2023.
Livestreaming and preparing short-form videos with a duration between 10 to 60 seconds are going to gain momentum this year. Think on the lines of the Tik Tok format with YouTube Shorts and Instagram at the forefront of it all.
It is Time to Build Communitie if You Aren’t Already
Of late, the sense of belongingness seems to have caught up with social media users. As a result, people are wanting to connect with like-minded people. For example, LinkedIn’s audio-live events help creators interact with their communities through audio discussions.
Brands are also building communities where users have more power to voice their thoughts. In the end, it helps in building trust in the customers and takes brands closer to them. As a marketer, this is a trend you’d want to stay on top of this year.
Spaghetti Marketing is a Big No
If you have been a part of marketing initiatives that seemed too superficial, unorganized, and done for the ‘sake of it’ because others are doing it, you have been a part of spaghetti marketing.
2023 surely should see the end of it because frankly, this approach doesn’t work. Copying is a strict no-no. Remember, you cannot reach out to every last person on social media. Neither should you try to do that. Get data, focus on your community and customers, and try to get them on your side. Period!
2023 has just started. There are hundreds of trends for marketers to catch up with. We have listed a few here. Let us know your thoughts and the trend that you think will work for you this year.