Let’s face a harsh truth (for some) about today’s marketing landscape - it’s demanding and consumers are more skeptical than ever! In this fast-paced digital landscape, this means that you need to stay ahead of the curve if you want to succeed.
This applies to every single business out there no matter the size. That’s why it is important to take stock of the latest digital marketing trends that are likely to make a huge impact as we gear up for 2023.
This is your chance to tailor a strategy that will meet the needs of your audience. That will help you stay competitive in your niche.
Without further ado, take a look at the top digital marketing trends that are set to dominate in 2023.
Social Media and Influencers
2023 is expected to bring a lot of interesting social media trends that will reshape the entire game of digital marketing. As a brand, you need to keep up with these changes if you want to establish a strong social media presence.
Let’s take a look at what has a high chance of reshaping social media marketing as we know it in 2023.
TikTok Shows No Signs of Stopping
TikTok has emerged as a dominant force in the world of social media marketing and is expected to maintain this position in 2023.
According to various studies, TikTok's revenue increased by 142% year-on-year, generating a staggering $4.6 billion in 2021. Additionally, the platform has seen 1.8 billion monthly active users by the end of 2022. That is huge!
TikTok's appeal, however, isn't limited to consumers and content creators alone. The platform is also prioritizing usability for businesses and enhancing its targeting options for advertising.
These developments are expected to transform TikTok into an even more robust and effective platform for brands to engage with their target audience in 2023. This is something to keep in mind if you want to reach the huge base of users TikTok takes pride in.
Creator Economy Growth
It is safe to say that brand awareness has become a huge priority regarding social media, marketers now have to find creators (influencers) that have a voice and a decent fan base.
Consumers nowadays don’t spend a lot of time evaluating brands and that means that you have to make a great first impression. This can be done through quality content that will strike a chord with them.
But, content creators can help you out. The best bit about this is that they don’t have to be high-level influencers. They could be anyone, such as employees, customers, and subject matter experts in a specific niche.
The COVID-19 pandemic has led to the emergence of a new social media culture that prioritizes content quality over the number of followers, promoting the use of influencers and content creators even further.
Incentivizing content creation are content creator funds on platforms such as TikTok, YouTube, and Twitch, encouraging creators to produce content that brands can leverage to their advantage.
Livestream and Short-Form Video Content
The video content form has come a long way in recent years. Video advertising is now a superior lead generation and conversion weapon and it tends to outperform other advertising channels and content forms.
However, even established digital marketing trends are subject to constant evolution and refinement, including video. According to various marketing agencies, almost a quarter of global viewing time is allocated to live content on social media platforms such as Facebook and Instagram, while the remaining portion is dedicated to on-demand content.
This is likely due to the fear of missing out, with viewers seeking the latest news and events.
Shorter video lengths have resulted in increased marketing efforts to capture and retain the viewer's attention. It's worth noting that viewers are more inclined to tune out professionally produced and edited videos as they may find them unrelatable.
Make sure you’re aware of this if you have any plans to develop and execute a video content strategy.
It’s 2023 and there is no doubt that memorable experiences matter the most when it comes to the factors that impact purchasing decisions among consumers. But, this doesn’t mean that the price and quality should be neglected as these too play a crucial role in determining satisfaction with the things consumers buy.
Historically, technology has focused on streamlining processes and reducing user frustration. For example, online customer care portals and recommendation algorithms have simplified decision-making processes and provided after-sale support.
Although these aspects will continue to be essential in 2023, the focus will shift toward engagement and interactivity. This shift will be particularly evident in the metaverse, a term used by futurists to describe the next level of the online platform.
In the metaverse, users can interact with companies and other consumers in fully immersive 3D virtual settings, providing a unique and engaging experience. Brands that embrace this technology will have a significant advantage over their competitors.
By creating virtual environments that allow users to explore and engage with their products or services, brands can enhance the customer experience, creating memorable and impactful interactions.
This level of interactivity will also enable companies to gather valuable data on customer behavior and preferences, allowing for a more personalized approach to marketing.
Being Accountable Matters
People have become aware of how important it is to be responsible, accountable, and transparent in the world of business. That’s why it’s more important than ever to prioritize accountability as a brand.
Gen Z and Millennials are more likely to show love to brands that advocate for proven social causes and that’s a fact. As a consumer, a young person is more likely to buy from a brand that supports a certain cause because these demographics are affected to a high degree by the advocacy efforts of companies.
This is the prime reason why many companies have started altering their social media strategies to focus more on promoting inclusive activities, products, and objectives that they are committed to.
Keep in mind that being sincere when it comes to this issue is a must. Do not expect an immediate boost in sales. Taking social responsibility is not there just so that companies can boost their revenue figures.
AI and ML
It seems like topics around AI and ML are the hottest content breweries around today. One cannot access LinkedIn without stumbling upon at least one feed post about AI and ML and how these are revolutionizing every single digital sphere.
Well, where there’s smoke, there’s fire. AI-powered predictive analytics tools can analyze data and predict future customer behavior and preferences, allowing businesses to personalize their marketing campaigns and offer tailored product recommendations.
For instance, chatbots, powered by AI and machine learning algorithms, can offer 24/7 customer support and assistance, improving the customer experience and reducing the workload of customer service teams.
This alone has already made a considerable impact on how businesses go on about some of the most essential processes.
But, how does this affect digital marketing?
One example of how businesses can use AI and machine learning to improve their digital marketing efforts is through dynamic pricing.
AI algorithms can analyze customer data, competitor pricing, and market demand to determine the optimal pricing strategy for products and services. This can lead to increased sales and revenue for businesses.
Another example is the use of AI-powered content creation tools, which can generate content such as blog posts, social media updates, and product descriptions, saving businesses time and resources while maintaining quality and relevance.
Just know that these cannot replace real humans. AI tools can speed up the process, but they can’t handle the entire job on their own even though some would like to believe that they can.
We have already established that consumers nowadays are always on the lookout for engaging content that can be accessed on the go.
Well, one way for businesses to take advantage of this phenomenon and reach out to their audiences is by creating podcasts that can be accessed from any internet-connected device.
But, to ensure that you have taken the most out of this content medium, your business needs to carefully consider its target audience and tailor each podcast session accordingly.
The length of the podcast will heavily depend on the discussion topic and the level of audience engagement. That’s why it is important to focus on topics that grab your audience’s attention and keep them hooked.
Manage to do that and your business will effectively communicate its message while also building a loyal and engaged audience.
2023 is going to be exciting and there is no doubt about it. External factors will make brands carefully reconsider their messaging if they want to connect better with their audiences.
This will also play a crucial role in collaboration with creators and influencers that share similar values.
Nonetheless, these trends reflect the progression of marketing, encompassing both new tech developments and innovative marketing approaches. So, it is up to you to make sure that your business adjusts and embraces the change.