Marketing trends we are likely to see in 2023
2023 is just around the corner, and whilst we are stocking up on mince pies and planning our Christmas opening dates, it’s also time to consider what your marketing strategy will be for 2023. The UK is in the middle of a cost of living crisis, and depending on which news bulletin you are listening to, a recession could be just around the corner. So how will you manage your marketing to be foolproof throughout a potentially challenging 2023, and what will you do to save on your marketing budget whilst not missing out on capturing a new audience?
Let’s take a look at some marketing trends we can expect to hit our businesses in 2023:
Social media and video-based content
As video-based content becomes increasingly popular on social media platforms, marketers are focusing on this type of content more to capture a viewer’s attention for a longer period of time. TikTok, Instagram reels, and other bite-sized videos are being used to drive engagement and increase brand awareness among millennials and Gen Z.
Adding user-generated content to your marketing strategy can make your brand more authentic to consumers. In fact, studies show that consumers are 2.4 times more likely to trust user-generated content over content created by brands. Now is the time to prioritize authenticity in your marketing strategy if you want to take your brand to the next level.
Utilising Google to your advantage
Google will be phasing out third-party cookies by the end of next year as privacy concerns continue to rise. Cookies play a role in target marketing by tracking a user’s behaviour across the web, allowing marketers to deliver a customized experience. However, with Google set to phase out this method of targeted advertising, brands are now testing alternative solutions to ensure they can continue providing their audience with highly personalized content and ads.
Offering a personalised marketing message
Customers appreciate when their experience with a brand is catered specifically to them and their needs – it makes them feel like the brand understands them. However, marketers can’t get tunnel vision and only look at campaigns as isolated incidents. Customers don’t interact with brands through just one method or channel, so marketers need to understand specific interactions that occur throughout the customer’s journey. By focusing on the complete experience rather than a single campaign, marketers can provide a more holistic experience that customers will remember and appreciate.
Diversity and Inclusion
Even though marketing and advertising professionals have worked hard to improve diversity, equity, and inclusion in recent years, there’s still more that can be done to make sure everyone feels included. It’s especially important to be aware of how your marketing tactics might make someone feel left out. In 2023, let’s continue working together to make sure everyone feels seen and heard.
Consider your technology
The last few years have been a game-changer for marketing, with consumers now valuing authenticity, transparency, privacy, and inclusivity more than ever. And with cutting-edge technology like VR and IoT becoming mainstream, marketers have a unique opportunity to tie these values into their messaging in new and innovative ways.
Creating a recession-proof marketing strategy
During a recession, businesses have to change how they optimize cash flow and face the challenge of reduced marketing budgets. Tempted to spend your budget on sales promotions and short-term performance marketing? Don’t do it. This will only provide short-term benefits and is very unlikely to stimulate a market that is feeling uncertain about the future.
When the economy takes a turn for the worse, it hits everyone – including your clients. And this is when you will need to depend on them more than ever to keep your business afloat. Client retention is essential for the success of businesses because much of their revenue comes from existing clients who purchase on a repeat basis.
It’s important to keep up regular communication with your clients, as this strengthens your connection with them and shows that you genuinely care about their needs. There are also benefits to continuing with marketing to your existing clients during a financial crisis. Firstly, businesses must preserve clients’ trust in their ability to meet their needs, and this won’t happen if the company is perceived as unstable, projecting insecurities, or unprepared.
When a recession hits and clients begin to scrutinize their spending a bit more, businesses will offer incentives to encourage purchasing, such as sales, coupons and interest-free credit. For example, businesses might introduce new services at different price levels. Marketers refer to this approach as introducing a ‘fighter product or brand’, where a cheaper version of the top-of-the-range product or service is sold under another name.
Setting your marketing strategy SMART goals
SMART goals are a great way to help your team create a realistic and actionable marketing strategy that supports your company’s short and long-term objectives.
Specific – keep your objectives clear and well thought out. Vague ideas will not support your marketing strategy.
Measurable – how do you plan to understand whether your objectives are working? Be sure to measure your successes, so you know how to improve going forwards.
Achievable – if an objective is a pipe dream in 2023, do not include it in your 2023 marketing strategy but rather as an overall objective for your business.
Realistic – are you really going to achieve your objective in 2023? If the answer is no, consider breaking it into smaller chunks.
Timely – your objectives should be reachable throughout the year, so you are able to see the progress your team is making.
Following the SMART structure will help your marketing team understand the best course of action to take. They will be able to define a to-do list that is manageable so they know how they can get ahead of your competitors and reach your target audience.
Be sure to ask yourself the following questions:
- What works in your business at the moment?
- Why did other projects fail?
- How can you prevent your projects from failing in the future?
- When do you want to see your objectives achieved?
Setting a goal to ‘increase your sales’ will not give you a clear objective for what you are doing and how you are going to achieve the goal – meaning it’s more likely to fail. Breaking this objective into defined points, such as a target percentage of increased sales and a timeframe, will help you get a clear image in mind of how you are going to get there.
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Nowadays, marketing is much more complex than it used to be. There’s a greater emphasis on tailor-made approaches and cross-media activities, which means that marketing strategies and actions have had to adapt. This has made it more difficult for accounting firms to win new clients, as they need to be more multifaceted and varied in their approach.
Butterfly Print and Design is your local, sustainable print team with over 30 years of experience in the printing and marketing industry. We have been an extension of many businesses’ marketing teams and continue to support many of our clients as they navigate their way through a cost-of-living crisis. Our print offerings are sure to support your marketing teams in a cost-effective and efficient way. If you would like to have a local printing team work with your marketing department in 2023, get in touch with us today.