Marketing is a dynamic and ever-changing field, and businesses that don’t keep up with the latest trends risk getting left behind. As we head into 2023, there are several significant changes taking place that will shape the marketing environment.
Vericast has identified 14 trends that will shape marketing in the coming year. In this post, we’ll take a closer look at these trends that are set to define marketing in the coming year and what they mean for businesses.
#1 The Rise of Discount Retailers
As the economy continues to recover from the COVID-19 pandemic and the cost of living crisis continues to rise globally, consumers are looking for ways to save money.
Recent studies have shown that over half of consumers (53%) are shopping at discount retailers more frequently, and this trend is likely to continue in 2023. According to Vericast’s survey, 66% of respondents said coupons and discounts were more important than ever to them, and consumers are actively seeking savings to counteract the cost of gas and groceries, specifically, and inflation in general.
To stay competitive, businesses need to focus on offering value to their customers, whether it’s through lower prices, exclusive deals, or exceptional customer service.
#2 Influencer Marketing Continues to Dominate
Micro-influencers with smaller but more engaged audiences are becoming more popular. Businesses should consider working with micro-influencers to reach their target markets in a more authentic and cost-effective way.
#3 “Buy Now, Pay Later” Solutions Are on the Rise
As consumers continue to seek out more flexible e-commerce payment methods, “buy now, pay later” solutions are becoming increasingly popular. These payment options allow customers to make purchases without upfront payment and pay for them later in installments. To remain competitive, businesses need to offer these payment options, but they also need to be responsible in their lending practices to avoid unnecessary risk.
#4 Personalisation Continues to Matter
In 2023, businesses that want to stand out need to go beyond generic marketing messages and offer personalized experiences to their customers. Consumers expect brands to understand their individual needs and preferences and to tailor their messages and offerings accordingly. Collecting and using data effectively is critical to achieving this goal.
#5 Augmented Reality and Virtual Reality Are Gaining Momentum
As technology continues to advance, augmented reality (AR) and virtual reality (VR) are becoming more prevalent in marketing. These technologies can help businesses create immersive and engaging experiences for their customers, particularly in industries like retail and travel. By incorporating AR and VR into their marketing strategies, businesses can set themselves apart from competitors and offer something truly unique to their customers.
#6 Sustainability Is a Critical Consideration
Consumers are becoming increasingly conscious of the impact that their purchases have on the environment, and they expect the brands they support to share their values. In 2023, businesses need to consider sustainability in their marketing strategies, whether it’s through eco-friendly products and services or by taking steps to reduce their environmental footprint. By demonstrating a commitment to sustainability, businesses can build trust and loyalty with their customers.
#7 Engaging Content Talks Loud
With so much content available online, consumers are becoming more selective about what they choose to read, watch, and listen to. In 2023, businesses need to focus on creating content that not only informs but also engages and entertains their audiences. By creating content that resonates with their customers and evokes an emotional response, businesses can stand out from the crowd and build a loyal following.
#8 Digital Transformation Is Critical
Digital transformation allows businesses to better understand and connect with their customers, collect and analyze data, and create more personalized experiences. Businesses that invest in digital transformation will have a significant competitive advantage in the years to come.
#9 Voice Search Is Becoming More Prevalent
As more consumers use voice assistants like Siri, Alexa, and Google Assistant, optimizing content and websites for voice search is essential to remain accessible. Businesses must consider how customers interact with their brand through voice search and adjust their marketing strategies accordingly.
#10 Social Media Continues to Evolve
Social media platforms are constantly changing, and businesses need to adapt their strategies to stay relevant. From creating engaging short-form video content for platforms like TikTok and Instagram Reels to using social media for customer service, there are endless possibilities for businesses looking to make the most of social media.
#11 Video Content Is King
Video continues to dominate the digital landscape, and businesses should create engaging and shareable video content to reach their target audiences. From brand videos to product demos, there are endless possibilities for businesses to use video content to drive engagement and sales.
#12 Customer Experience Is Paramount
Investing in a seamless, personalized, and memorable customer experience can lead to increased loyalty and a competitive advantage in the marketplace. Businesses must put the customer at the center of their marketing strategies and consider every touchpoint in the customer journey.
#13 Employee Advocacy Is a Powerful Tool
Empowering and supporting employees to become brand ambassadors can lead to increased brand awareness and loyalty. From sharing company updates on social media to representing the brand at events, businesses can leverage their employees’ passion and expertise to build a stronger brand reputation.
#14 Gamification Is Growing
Gamification, or using game elements in non-game contexts, can increase engagement and loyalty among customers and employees. From loyalty programs to training modules, businesses can use gamification to create fun and rewarding experiences for their audience.
To sum it up, businesses that can adapt to these 14 trends in 2023 will have a competitive advantage, build stronger relationships with customers, and set themselves up for long-term success in the ever-evolving world of marketing.
Parichehr Parsi is an enthusiastic content creator. She currently writes for Nifty, which is a task management service provider. Being a travel addict and workaholic shows that she is quite well-balanced in living her life. She also loves music, reading, writing, and knitting.