The year 2022 is done and it must be this. Even for marketers, no trend remains the same. Our strategies change as the world changes.
Gartner predicted in 2020 that “by 2025, 80% of B2B sales interactions between suppliers and buyers will occur in digital channels.” Identifying the right marketing channels and areas to devote resources and spending will be more critical in 2023. Brands need to adopt a strategy that includes creativity fueled by diversity, data and technology to drive big business success.
You might wonder what the newest digital marketing trends and advancements for the coming year are.
Great question! Let’s dive deep into some of the digital marketing trends I foresee in 2023.
Rise of First Party Data
First-party data is becoming increasingly important in the age of digital marketing. This is because potential customers are constantly bombarded with advertisements and business messages. Businesses must be able to deliver highly personalized messages to their target audiences to stand out from the crowd.
The way we can conduct this is by collecting first-party data. First-party data is information about your customers that you have gathered through interactions such as website visits, email signups, or phone calls.
This information belongs to you and only you; it is not shared with any third-party organizations. You can create content and ads more likely to resonate with your customers if you understand who they are and what they are interested in. As a result, your engagement and conversion rates will increase.
Furthermore, you can use first-party data to segment your customer base and target different groups with different messages. First-party data has become increasingly important in the age of digital marketing because businesses need to be able to deliver highly personalized messages to their target audiences to stand out from the crowd.
Influencer Marketing will continue to boom
Recently, there has been a noticeable trend away from depending on celebrity endorsements and using influencers for product placements. Celebrities only controlled 27% of the market for marketing efforts in 2021, while influencers took home 73% of the market. The growth of influencers is not restricted to industries with historical dominance, such as food & beverage, personal care, fashion, and technology. Now, other industries are noticing it.
According to the State of Influencer Marketing Benchmark Report 2022, the current value of the worldwide influencer marketing market is estimated to be $16.4 billion. According to the research, platforms emphasizing influencer marketing earned more than $800 million in funding in 2021 alone, highlighting the industry’s rapid expansion. The influencer marketing sector in India is likewise developing at a rapid rate.
According to the analysis, the market, which is currently valued at Rs 900 crore, would increase at a CAGR of 25% to reach Rs 2,200 crore by 2025. Influencers perform several tasks outside of simply raising brand awareness. They also affect metrics at the middle and bottom of the funnel, such as leads and conversion.
Today influencers use short videos to increase engagement and brand exposure among millennials and Gen Z, whether it is YouTube Shorts to Instagram reels; video-based content is now the primary emphasis of social media marketing since it can hold a viewer’s interest for longer than static posts.
Demand for video content will further increase
According to the Content Marketing Institute’s 2022 Content Marketing and Visual Storytelling Survey, 73% of marketers said video has become even more essential this year than it was the year before. As more social platforms add new video features and focus on video-first algorithms, video content will become even more critical throughout 2023. GenZ today have YouTube as their go-to platform for any form of search they wish to do in the online world.
According to Hubspot, short-form video (generally 60 seconds or less) has the highest ROI of any social media marketing strategy. People enjoy sharing videos twice as much as other types of content.
Marketers will continue to shift their ad dollars to meet the moment as Connected TV (CTV) grows. CTV can get your brand in front of the biggest screen in the house but in a new way. CTV advertising, as opposed to linear television, can enable your company to use television advertising as a performance platform, similar to social media and search advertising.
More Emphasis on CX
Customers now expect a more personalized, seamless experience when interacting with brands, thanks to the rise of digital channels and increased competition. If you want visitors to your website to stay long enough to think about purchasing from you, your website must offer a positive user experience. Ensure your website provides a wonderful user experience if you want a positive return on investment (ROI) from it (UX). If visitors to your website don’t enjoy using it, they will only stay for a short time, which means you could lose out on conversions.
As a result, companies must concentrate on delivering seamless and satisfying consumer experiences through all touchpoints, including their website, social media platforms, and other channels.