The rate of change in our environment, including in the digital marketing sector, is unexceptional.
Given the impending recession and the growing purchasing power of Millennials and Gen-Z, it is more crucial than ever for marketing teams to get their ducks in straight as they expand in the fiercely competitive digital market.
Here are 5 marketing trends to follow in 2023:
1- Purpose-driven Brands and strategy:
In the current market, trust matters, and when customers feel they’re values-aligned with a company, this builds trust, making them more likely to purchase.
Businesses will continue to make more of an effort to concentrate on sustainable and people-focused operations as the number of recognized B Corporations topped 5,000 this year.
Millennials have repeatedly shown they are prepared to pay more for a more sustainable product; in fact, 75% of Millennial respondents to a McKinsey & Co. survey claimed they think about sustainability when purchasing a luxury item.
2- Short-form Catchy Video:
Businesses need to be ready for the continued priority of short-form videos because Instagram reels are becoming the most efficient way to reach viewers.
Even Google has recently revealed potential intentions to display short-form videos in search results.
3- Focus on User-Generated Content:
The measurements demonstrate that reality sells, whether through the producer economy or user-generated content (UGC). Consumer Acquisition claims that in 2022 UGC will have 12 times more video engagement than any other type of content, a 28% rise in conversion rates when UGC and paid content were combined, and 77% of businesses would already be investing in influencer marketing. According to Influencer Marketing Hub, Instagram will continue to be the most popular medium for this content and the Produce Economy will be worth $4.6 billion in the US alone.
4- Conversational Marketing:
With the opportunity to switch between chatbots and actual people, conversational marketing may meet both objectives. It’s a quick and affordable approach to serving customers.
People desire conversational, human marketing once more. Just take a look at the expansion of UGC and influencer marketing! Beyond the personal touch, consumers demand quick service.
5- Personalized Marketing:
eyond establishing fundamental trust, customers seek a customized, unique buying experience. Companies may customize marketing and the customer experience by using the data that consumers share with brands. Whether it be personalized fulfillment, personalized ideas, or personalized discounts, Gen Z and Millennial shoppers want brands to make their experience seem special. Brands need to develop ways to personalize the buying experience in a way that is acceptable to consumers.
Don’t fall behind the innovative businesses that are rewarded for their personalization!
90% of consumers, according to SmarterHQ, “say they’re eager to disclose personal behavioral data if extra perks that make buying cheaper or easier are provided.”
Ultimately, there’s a narrow line between being helpful and scaring out your customers.
Unexpectedly, the marketing strategy had a significant impact. Consumers dislike suggestions they receive via push notifications, although they find them beneficial when they receive them via email.
Reach out to us if you need assistance developing a winning marketing plan, and we’ll help you take your Marketing to the next level.