As customers become far more discerning about the products and services they purchase, there’s also a worldwide cost of living crisis that brands will have to plan for in 2023.
This means that it’s more important for brands to be transparent and really think about their messaging and research or adjust their strategy in the coming year. In addition, it means that marketers have to know the trends which are coming down the line so they are able to plan and take advantage of any kind of new developments.
To assist you to kick 2023 off with a bang, we’ve talked to industry experts to identify the most important trends.
Table of Contents
The Metaverse
The metaverse is one of the most spoken-about trends in digital marketing. It is a wide term that describes a variety of immersive virtual experiences that are taking place online, usually with others. Starbucks, Nike and countless big brands have announced metaverse experiences. While there is a lot of excitement for the metaverse, most businesses don’t have practical use cases (or return on investment) just yet.
Scrappy Content And Doing More With Less
A total of 74% of CMOs are facing cuts to their marketing spend, making every marketer’s existential question – of how to prove a return on investment – as pressing as ever.
Many brands have successfully implemented low-cost production methods, including publishing unpolished, ‘raw’ footage, leveraging TikTok, Instagram Reels and Stories, and using user-generated content.
Massive Growth For TikTok
TikTok launched in 2017 and has quickly grown into a formidable rival to Facebook, Instagram as well as YouTube. It’s the platform to watch particularly with the company quickly staffing up. Perhaps because its targeting and optimisation tools aren’t yet as mature as the ones on offer from Google and Meta, TikTok doesn’t yet compete with the more established platforms in terms of return on investment. Yet marketers know that it’s where more and more of their audience is, so it’s the platform to which they will allocate the highest ad spend increases next year.
Decentralizing Social Media To Create A ‘Super App’
The changes at Twitter have shone a lens on the vulnerability of social media platforms. Customers are moving away from wanting to engage with billionaire-led platforms and instead have control over their content and data.
Artificial Intelligence
Artificial intelligence (AI) powers all marketing, whether it’s for an eCommerce store, site like Big Dollar casino or blue chip company. One of the lowkey trends in digital marketing in recent years has been AI being integrated into nearly every digital marketing channel. Algorithms affect the social media posts you engage with, the search results that you see and even the ads displayed to you. AI is making marketing smarter, connecting consumers to the exact right products and messages.
Influencer Marketing: Creators Vs Influencers
Influencer marketing has evolved from expensive celebrity endorsements for brands looking to expand their reach quickly and increase brand awareness to a more relatable approach built on authenticity and trust that creates a bond with consumers.
Today the global influencer market size is estimated at $16.4 billion. So how is the industry changing as we’re getting closer to 2023? Not everyone who has followers is an influencer.
When choosing to partner with an influencer, it’s important that brands focus on meaningful KPIs and don’t get distracted by the vanity numbers, such as the follower count.