As we storm into 2023, marketers face a multitude of new challenges, including a global economic slowdown (and possible recession), changing buyer behaviour and the added internal pressures of generating growth with fewer resources.
For all these reasons, you need to be on top of your game! That’s why we’ve scoured the web to bring you the top five digital marketing trends for 2023. And as a bonus, we provide ways you can utilise them in your marketing plan this year.
Consumers are becoming more and more discerning: they want convenience, accessibility and value. Marketers are therefore concentrating on ways to offer great customer experiences. One example of this is using social media as a customer service tool. More and more businesses are using channels such as Facebook Messenger and WhatsApp to offer customers another, arguably easier, form of contact.
In the B2B world, purchasing decision makers are getting younger. In the US, 65% of the workforce are Millennials and Gen Zers and more and more are becoming responsible for buying. Of course, this generation has grown up with social media, search engines and review sites and therefore, they’re demanding a digital-first, self-serve experience that they can manage on their own terms.
Research by Insider Intelligence shows that 60% of B2B decision makers look at websites, 52% attend a webinar and 50% evaluate a supplier on a peer review site prior to accepting a sales meeting.
Personalisation has become a ‘mainstream’ marketing tactic in recent years. In its simplest form, this could be using automation to personalise email campaigns, but in 2023, marketers will be getting more advanced and turning to website personalisation. This could be creating personalised web pages for individual customers as part of an account-based marketing (ABM) approach or personalised web experiences for individual consumers based on previous buying behaviour.
The benefits of personalisation are well known: creating relevant content helps drive enquiries or sales. 77% of B2B marketers agree personalisation helps to build better client relationships, with 55% also agreeing on personalisation boosts conversion rates and growth.
In 2023 video will continue to grow in popularity, particularly when viewed across social media channels, as engagement hits an all time high.
A recent GWI report shows that 56% of consumers are watching more videos on social media each month with four in 10 following brands they like (and consider buying from). This could be a major reason why 70% of eCommerce brands have increased their video marketing budgets post-pandemic.
Influencer marketing is a huge B2C trend and is becoming ever more popular in the B2B world. Arguably this is due to the increasing emphasis customers are placing on a brand’s reputation and values, but also on their desire to seek peer reviews prior to purchase.
A recent report by Polaris Market Research estimates that the global influencer marketing platform revenue will reach nearly $92 billion by 2030.
However, 2023 will see a shift towards micro-influencers (creators with less than 15K followers). Marketing Chart’s study highlights that influencers with a niche have the highest engagement rate across platforms. And with budgets tight they also command a lower price tag!
In the B2B space, companies are utilising field experts to help drive sales. Thought leaders are proving very impactful at increasing engagement and gradually encouraging brand adoption.
Think of influencer marketing as a spin-off from thought-leadership which has been around in the world of PR for a very long time. ‘Influencers’ do not have to be celebrities or bloggers with millions of followers. Instead, you can identify people internal or external to your business who your target audience will respect and listen to. You can then align their messaging with your brand to build engagement and over time – with the objective of influencing buyers’ decision making.
The marketing automation market size is projected to grow from USD 5.2 billion in 2022 to USD 9.5 billion by 2027. Factors such as the response to the COVID-19 pandemic, a drive for greater efficiency and a desire to adopt AI and machine learning techniques are all factors.
But even to carry out and measure basic campaigns effectively – you need marketing automation tools.
As a marketer, automation should make your life easier – but we all know the reality is not so simple.
The adoption of any automation tool brings challenges, such as integrating it into your tech-stack, finding experts to use the technology and justifying its use. With budgets getting tighter, marketing managers are under more scrutiny than ever to show efficiencies and ROI from new technology.
At JFT Marketing, we can help in two ways:
If you’d like any support with your Marketo activity in 2023, please get in touch – we’d be happy to talk through your challenges or requirements and how we can help.