With each year, we are blessed with a new wave of technological advances that transforms how we approach business growth. The marketing industry is one that is constantly evolving and adapting to the latest trends in order to dominate the market. The quote “change is the only constant” is best applied to the marketing industry. 2023 is going to be no different. We are bound to witness newer work and the evolution of the digital marketing world. While some marketing techniques such as SEO and PPC advertisement are unshakable, there are constant developments that happen within these strategies to better them. If you are looking to grow a business as a marketing professional then it is important to adapt your marketing strategies as per the trends that will be dominating 2023.
Here is a list of the top marketing trends that we predict to see this year.
1. Live Videos
Data shows that the ‘live video’ industry is expected to dominate most marketing strategies. This is mainly because consumers prefer to watch live, authentic streams over carefully curated content that may come across as fake. This industry is expected to be worth over 70 billion dollars and a go-to for most businesses on social media platforms.
In the past couple of years, this social media platform has taken every industry by storm. It is no longer just a ‘Gen-Z’ app. Most adults find themselves reaching out for this addictive application as a source of entertainment and information. One can opt for either short, snackable-sized videos or long-form videos to easily connect with their target audience. It is predicted that TikTok is all set to sharpen its focus toward e-commerce and conversion-driven advertising which is great news for small businesses trying to create an online presence.
3. Content Creators
Unless you have been living under a rock then you have probably heard of the term Influencers or content creators. Influencers have seemingly become one of the most reliable sources of engagement-driven marketing, acting as a reliable source of direct communication with the consumers. All businesses, be they small or international, are heavily investing in content creators across social media platforms such as Instagram, YouTube, and TikTok. Paid influencer activity, whether you have been for it or against it, continues to be the biggest marketing trend that is seemingly here to stay for a while. 2023 expects to see an even larger number of sponsored influencer content across platforms.
4. Artificial Intelligence
Artificial Intelligence continues to be the biggest and most influential technological trend. This includes machine learning and adaptive AI that will model behavior change using real-time feedback. There are continuous developments being made in this field, leading to self-learning and evolving adaptive models.
5. Retail Media
Retail media is set to grow about 5 times faster in 2023. In 2022 we saw the social media industry bring in $65bn only in ad spending and this number is only expected to grow. eMarketer has predicted advertisers to invest more than $37bn just on retail media networks.
6. Data Privacy
Third-party data tracking is no longer a reliable and scalable method for advertisers. Seeing the degradation of tracking, many countries are now working on tightening their data-protection laws and legislations which will be a complete game-changer. There will be stronger regulations towards tech companies across the global market. While platforms like Facebook have resisted moderation in the past, and in 2023 Twitter is expected to do the same, all will eventually have to give in to regulatory pressure.
7. AR and VR
In 2023, AR and VR are all set to take center stage. This technology is all about experimenting and uncovering new mediums of growth, especially for brands and advertisers. While we are still a few good years away from the Metaverse, 2023 is predicted to be the year AR becomes quite mainstream and a go-to investment for advertisers to stay ahead of the curve.
At North Rose Technologies LLC, our team of experts is constantly evolving to adapt our methods to the upcoming trends of technology. We take care of all your marketing needs so that you don’t have to worry about staying updated and changing course every time something new hits the industry – we do it for you.