Key Points:
- Influencers are leading marketing initiatives
- Social channels are replacing traditional search engines.
- New targeting solutions and Artificial Intelligence to make a significant impact in 2023.
Marketing is constantly evolving. As you plan for your marketing activities for next year, are you wondering how marketing will change in 2023?
2023 will be an exciting year in marketing as trends shift to accommodate new technology and buyer behavior. These marketing trends will impact your marketing strategy for years to come.
Let’s discuss this.
Influencer Marketing
Social media marketing is changing, and soon so will digital marketing. More than $16 billion will be spent on influencer-marketing programs by 2023. Influencer marketing involves a collaboration between a brand and an individual with a specific niche and sizeable online following. This type of marketing takes that concept and modernizes it for today’s new digital era. Social networks are modifying their algorithms to show sponsored content more prominently and shifting their focus from pure engagement to conversion-centric strategies.
93% of marketing professionals use influencer marketing for reasons like:
- Increasing brand awareness
- Building trust and authority
- Reaching their target audience
- Setting a new trend
- Connecting to a broader market
In 2023, the value of customer trust will skyrocket, and engaging with well-known and respected business influencers will set brands apart from the pack in their audience’s eyes. People want to engage with creators they trust, and creating a long-term, mutually beneficial partnership with an influencer your audience loves will undoubtedly impact your conversions and bottom line.
For example, Kim Kardashian uses her Instagram to advertise Balenciaga, a high-end Spanish label owned by the Kering group. Influencers use many different platforms to promote products to their large followings. Consider Travis Scott and Mcdonalds. Forbes estimated that he earned approximately $20 million combined through endorsement and product sales. Influencers can help expand your brand’s influence, and we can expect they aren’t going anywhere in 2023.
Social Channels will be the new internet
Marketing is about finding places where potential customers are clustered and running targeted promotional campaigns there. From this standpoint, social media can be ideal for business promotions. As of 2022, there are about 4.59 billion social media users across the globe, and this count is likely to increase yearly. As a result, advertising using social channels will become an increasingly popular method of advertising.
The way we engage with information in the digital age is changing. TikTok and, to a lesser degree, Instagram is replacing traditional search engines. In fact, according to Google, 40% of young people prefer finding information on TikTok and Instagram over Google.
Understanding how Gen Z thinks and shops will be imperative for businesses that want a long-term impact. Social media is the new search engine, and younger generations will transform how companies sell their products and services.
Artificial Intelligence has entered the chat
By 2023, the role of artificial intelligence in digital marketing is projected to make a huge impact. According to a Blueshift report, up to 28% of marketers are already using AI to make product recommendations and optimize ads. So, our society is transitioning to one in which artificial intelligence will produce a sizable portion of the content uploaded online. However, offering their audience the best human content is one way for businesses to stand out.
New Targeting Solutions
Due to rising privacy concerns, Google is set to phase out third-party cookies by the end of next year. Cookies let advertisers target their audience by recording online activity to provide a tailored experience. Brands are experimenting with alternate targeting strategies to continue creating highly tailored content and advertisements to stay relevant.
Digital marketing is a dynamic field that holds great potential in the future. Keep an eye out for these emerging trends to stay ahead of the curve! How can you implement these in your strategy? Consider Media Venue for your digital marketing partner!
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