Marketing & Media trends
#BizTrends2023: 4 marketing trends for a big impact in 2023
Keep an eye on these four trends if you are looking for big impact in the year ahead.
- People of Influence (note that I didn’t say influencers)
- Doing less will give you so much more
- Personalisation and individualisation
- AI and machine learning
It is the core objective of an influencer to reach as many people as possible, and the internet provided them with a new and engaging way to do so.
As a result, influence marketing has exploded in popularity over the past few years, and we can expect to see it continue as a key part of many companies' marketing strategies in the coming year.
According to estimates, $16.4bn was generated by the global influencer market in 2022. That’s four times the revenue TikTok generates from advertising. Without an influencer marketing strategy, brands risk falling behind. It will be important to take on board that influencers were formerly defined as all content creators and vice versa.
There’s a difference now.
And this gap between the two will grow in 2023. The term 'influencer' has evolved to mean someone with a large following, who is usually more expensive to hire and has an established platform. They typically reply on agencies to create content for them, which they then post.
Those who create content work differently, however. They have less reach than influencers, but produce high-quality, influencer-style content at a much lower cost. Content creators are also relatable, which is another benefit of working with them. Typically, they don't have established opinions or styles, so they don't come with preconceptions from your audience.
It’s also important to note that I also didn’t say that these people have to exist in real life. An Influencer Marketing Factory survey conducted in 2022 found that 58% of respondents follow virtual influencers and 35% had bought products promoted by them.
The most likely age group to buy a product promoted by a virtual influencer was 18-44. Virtual influencers are popular for a variety of reasons, but accessibility is one important factor that could contribute to their popularity.
By partnering not only with popular social media personalities but also smaller voices who shout loudly to your target market, companies can tap into these engaged audiences to promote their products and services.
Lockdowns made it impossible for brands to assemble even a small crew to film professional footage. Unpolished, 'raw' video content emerged from the ashes of high-production-value video.
It has gripped the internet ever since, and brands are continuing to push its boundaries. Several brands have gone a step further, using simple methods in unexpected places.
As an example, Coinbase's Super Bowl advertisement in 2022 topped the list. Over 79,000 mentions were generated online during the game with just a QR code bouncing around the screen.
We're still yet to reach the peak of unpolished content's popularity, but it's not going away anytime soon. The cash-strapped content teams may find this to be an exciting strategy as marketing budgets decrease amid economic hardship.
As we look ahead to 2023, it's clear that the world of marketing is continuing to evolve at a rapid pace. One of the biggest trends we're likely to see in the coming year is a continued focus on personalisation and individualisation in marketing efforts.
With the rise of big data and advanced analytics technologies, it's becoming increasingly easy for companies to gather detailed information about their customers and use that data to create highly targeted marketing campaigns. This trend is only set to continue in 2023, as more and more companies look to leverage data to deliver personalised, relevant messages to their customers.
How do you know that I wrote this article and not a bot? Spoiler: I did!
But another key trend we're likely to see in 2023 is the rise of AI and machine learning in marketing. These technologies are already starting to be used in a range of applications, from chatbots and virtual assistants to more sophisticated algorithms that can analyse customer data and provide insights to help marketers make better decisions.
In the coming year, we can expect to see more and more companies adopting these technologies to improve the effectiveness of their marketing efforts.