The new year just wouldn’t be complete without a list of “what’s hot and what’s not” in the marketing world. With that in mind, we’ve culled the top marketing trends for 2023 and provided quick tips for how to take advantage of these trends in the coming year.
Influencers will have even more influence.
In a recent survey, 80% of marketers who currently use influencer marketing will increase or maintain their investment in 2023, while 17% of marketers are planning on investing in it for the first time. The popularity of collaborating with influencers and industry thought leaders is due to its effectiveness at creating brand awareness and gaining fans from the influencer’s audience.
While not everyone can afford to hire a celebrity influencer, many marketers are finding success with “micro-influencers,” who are social promoters with a lesser following. Their audience may be smaller, but they are often more dedicated offering more bang for your buck. And because these micro-influencers are considered “everyday” people, their audiences are more likely to trust their opinions and recommendations.
To do: Find an influencer in your industry or niche market and create a relationship that’s mutually beneficial. Focus on the quality of the content and audience rather than the number of followers.
Leveraging SEO will become more important.
There is more traffic on the Internet than an L.A. freeway at rush hour. To make your website and other content more discoverable, you must focus on SEO strategies. Sure, SEO is not new, but finding ways to make it work harder for you is more important than ever. In fact, 88% of marketers who have an SEO strategy plan to increase or maintain their investment in 2023. Google algorithms continue to evolve, which means that SEO must keep up.
To do: Instead of relying on the intern who professes to be a social media guru, invest in an SEO expert who can provide valuable insights and strategies.
Marketers will keep videos short and sweet.
It’s no surprise that video will continue to be popular as a marketing tool, especially short-form video. A whopping 90% of marketers using this technique will increase or maintain their investment in short-form video in 2023. While longer videos can provide a great overview of your company or product, along with helpful information, grabbing attention or making a point with short-form video has proven much more effective.
Let’s face it, our attention spans are getting shorter by the minute, which is why platforms like TikTok, Instagram Reels and YouTube Shorts are so popular. Short-form videos are defined as any video under 60 seconds, with the optimal length between 31 and 60 seconds. However, short-form videos on YouTube are 10 minutes or less. Livestreaming is also projected to increase in popularity in the coming year.
To do: Try condensing your video content to make one or two key points, such as how easy it is to use your product or why people love it. Don’t be afraid to think out of the box. In 2022, Colgate launched an extremely popular #MakeMomSmile brand challenge, which encouraged users all around the world to share short videos in which they did something special for their mothers. Also, consider hosting livestreaming events which allow customers to interact with your company.
“Short-form video has the highest ROI of any marketing tactic.”
“Quality” inbound marketing will help you stand out.
Inbound marketing refers to the practice of attracting customers by creating valuable content and experiences tailored to them. To take it a step further, inbound marketing forms connections with customers and helps them solve problems. It’s not a new concept. In fact, it’s been growing in popularity for many years.
However, the changes we’ve seen over the last few years, including a shift to hybrid work from home, has made this tactic even more important to marketers. But don’t rely on what you’ve been doing. People are suffering from “screen fatigue,” so virtual events, webinars, and other digital content needs to cut through the clutter and generate interest. John Hazard, the founder of Lighthouse Creative Group, sees this as an opportunity to up your game.
To do: Instead of using the same old PowerPoint presentation or executive talking from his office, Hazard suggests creating polished, professional productions using graphics, professional hosts, and high-quality equipment. You may also consider user-generated content, which leverages the opinions and recommendation of your customers, including product reviews, testimonials, photos, or videos.
Brands are replacing the funnel with the flywheel.
It may be time to replace that outdated funnel with a new marketing model called the flywheel. With a funnel, customers came in through the top and out through the bottom and were essentially forgotten. In contrast, the flywheel model puts the focus on the customer before, during and after a sale. It highlights the importance of word-of-mouth marketing and making customers brand advocates.
To do: Provide excellent service and an unforgettable experience and let your customers market for you! Get to know your customers and create an ongoing relationship.
Branded social media DM tactics are growing.
Although the use of social media direct messages (DM) is relatively new, it’s already being employed by 29% of marketers and is projected to grow significantly in 2023. A full 87% of marketers using social media DMs for customer service plan to increase or maintain their investment this year.
Experts believe that as social media apps like Instagram, Twitter and Facebook continue developing their e-commerce capabilities, providing customer service through DMs will become even more important. Consumer surveys show that 1 in 5 Gen Zers and nearly 25% of Millennials have contacted a brand on social media for customer service in the past three months. Closely related to this trend, is the growing trend of selling products directly through social apps.
To do: Make sure you’re set up to respond to customer inquiries and provide service through social media DMs. If it makes sense for your products, consider selling directly through social apps.
Data-driven marketing will become even more critical.
Data helps marketers reach their target audience more effectively, create more personalized content, and understand which tactics are working, all of which helps you increase the ROI of your efforts. Considering the trends outlined above, using data to inform your marketing strategies is crucial. Expect to see growth in marketing automation tools and more detailed data.
To do: If you haven’t already invested in a marketing automation platform, this is the year to do so. If you already have marketing automation tools but haven’t taken advantage of all they have to offer, now is the time.
Social responsibility is still meaningful.
Surveys indicate that consumers place a high value on brands that demonstrate social responsibility, integrity, and transparency. Over half of Gen Zers and 41% of Millennials are more likely to support brands that advocate for social causes.
To do: Use social media to humanize your brand and highlight activities that demonstrate social responsibility.
The Bottom Line
It’s been said that nothing is constant but change. The last few years have proven that to be true! Nearly 80% of marketers said their industry changed more in the past three years than in the last 50! Successful marketers are those that can adapt to rapidly changing market conditions and customer preferences.
For instance, rising costs and economic uncertainty are making consumers more discerning. As they become pickier about where they spend their hard-earned cash, it becomes more important for brands to improve targeting, cut through the clutter, and build relationships with customers. Consumers are looking for brands that give them a memorable experience, make them feel like part of a community, and anticipate their needs. Are you ready to meet these expectations?
Sources:
Digital Marketing Institute: What are the Top Digital Marketing Trends for 2023?
Forbes: 2023 Digital Marketing Trends that Should Be on Your Radar
