Into 2023 Marketing Strategy & Trends: Staying Ahead in a Rapidly Changing Landscape
In the ever-evolving world of marketing, the ability to adapt to change is crucial for success. Over the past few years, the industry has experienced more transformation than in the previous five decades combined, challenging marketers to stay agile and data-driven. To gain valuable insights into the goals, challenges, and strategies of marketers worldwide, we conducted a survey of over 1,200 B2B and B2C professionals. In this article, we will explore the key findings from our research and delve into the top trends that marketers can expect to see in 2023.
The Power of Data-Driven Marketing
One of the major takeaways from our survey is the importance of data-driven marketing. In today’s digital landscape, it is crucial for marketers to go beyond basic demographic information and dive deeper into understanding their audience. Knowing their interests, hobbies, shopping preferences, media consumption habits, online communities they engage with, challenges they face, and social causes they care about can provide valuable insights for effective marketing strategies.
Furthermore, our research revealed that the ability to pivot is essential for success in a rapidly changing world. From pandemics to political turmoil, marketers have faced numerous challenges in recent years, leading to frequent course corrections. In fact, over half of the marketers we surveyed implemented pivots in 2021, with 83% of them making two to four changes throughout the year. As we head into 2023, the potential recession is likely to drive further shifts, highlighting the importance of having a plan in place to adapt to unforeseen circumstances.
Top Trends for 2023
As we examined the changes that marketers saw in their industry from 2021 to 2022, several key trends emerged. These trends provide valuable insights into the strategies that marketers should prioritize in 2023. Let’s take a closer look at some of the top trends:
1. Short-Form Video: The Rising Star
Short-form video content has become increasingly popular among marketers, with one-third of them currently leveraging this trend. Not only is it the most popular trend, but it also boasts the highest return on investment (ROI). In fact, short-form video is projected to experience the most growth of any trend in 2023, with 90% of marketers planning to increase or maintain their investment in this format. Additionally, 21% of marketers are considering leveraging short-form video for the first time next year.
2. Influencer Marketing: A Powerful Strategy
Influencer marketing continues to be a highly effective strategy, offering a high ROI for marketers. Over 25% of marketers currently leverage influencers to promote their brands, and this trend is expected to grow further in 2023. Seventeen percent of marketers plan to invest in influencer marketing for the first time, while 89% of those already using it will increase or maintain their investment next year. Notably, our consumer trends survey found that 33% of Gen Zers made a purchase based on an influencer’s recommendation in the past three months.
3. Social Media DMs: The New Customer Service Channel
Using social media direct messages (DMs) for customer service is a relatively new trend but has already gained traction among marketers. Twenty-nine percent of marketers currently utilize DMs for customer service, recognizing its high ROI. In 2023, 15% of marketers plan to try this tactic for the first time, while 87% of those already using it will increase or maintain their investment. As social media platforms enhance their e-commerce capabilities, providing customer service through DMs will become even more critical.
4. Website SEO: A Timeless Strategy
While not a new trend, leveraging search engine optimization (SEO) for websites continues to be a powerful tool for marketers. Twenty-nine percent of marketers use SEO to attract and convert leads, highlighting its effectiveness. In terms of ROI and effectiveness, SEO ranks fourth among marketing trends. Furthermore, 88% of marketers who utilize SEO will increase or maintain their investment in 2023. When it comes to budget allocation, SEO ranks third, following short-form video and influencer marketing.
5. Humanizing Brands: Connecting with Consumers
Marketers are increasingly focusing on creating content that reflects their brand’s values, with 30% currently employing this strategy. This trend ranks third in popularity and offers the fifth highest ROI. In 2023, 16% of marketers plan to incorporate brand values into their content for the first time, while 89% of those already investing in this strategy will increase or maintain their investment. By humanizing their brands, marketers can foster stronger connections with their target audience.
6. Data-Driven Decision Making: The Key to Success
As mentioned earlier, data-driven marketing is crucial for success in 2023. By leveraging data, marketers can effectively reach their target audience, create more impactful content, identify the most effective strategies, increase the ROI of their marketing efforts, and prove the value of their activities. Our survey highlighted the challenges that marketers face in collecting high-quality data, such as data privacy regulations and consumer distrust. Overcoming these challenges will be vital for marketers to make informed decisions and stay ahead of the competition.
The Changing Landscape of Social Media Marketing
Social media platforms play a pivotal role in a marketer’s toolkit. Our survey explored the top social media platforms, their ROI, and their projected growth in 2023. Let’s dive into the key findings:
1. Facebook: The ROI Leader
Facebook remains the most used social media platform among marketers, with 64% leveraging its potential. Not only is it the most used platform, but it also offers the highest ROI. In fact, marketers plan to invest the most in Facebook in 2023, surpassing other platforms. While 25% of marketers plan to invest in Facebook for the first time next year, its growth rate is slower compared to other platforms like YouTube, Instagram, TikTok, and Twitter.
2. YouTube: The Growth Champion
YouTube is currently used by 57% of marketers and ranks second in terms of ROI, tied with TikTok. It is expected to experience the most growth among all platforms in 2023, with 91% of current users planning to increase or maintain their investment. Additionally, 29% of marketers plan to leverage YouTube for the first time next year, the highest percentage among all social media apps.
3. Instagram: The Second Most Used Platform
Instagram is the second most used social media platform, utilized by 58% of marketers. It also ranks second in terms of ROI, tied with YouTube and TikTok. Instagram is projected to see significant growth in 2023, with 14% of marketers planning to invest more in this platform than any other. Furthermore, 29% of marketers plan to try Instagram for the first time next year.
4. TikTok: Rising Brand Interest
TikTok has evolved from being a trendy app for Gen Z to a platform that marketers cannot ignore. Currently, 42% of marketers leverage TikTok, and it ranks second in ROI alongside YouTube and Instagram. In 2023, TikTok is expected to continue its growth, with 56% of current users planning to increase their investment. Moreover, 26% of marketers plan to use TikTok for the first time next year, while 16% will invest more in this app than any other platform.
5. LinkedIn: A B2B Marketer’s Ally
When it comes to B2B marketing, LinkedIn holds a significant advantage. B2B marketers are more likely to use LinkedIn compared to their B2C counterparts. While 33% of all marketers leverage LinkedIn, just 14% of B2B marketers using this platform say it provides the highest ROI. Facebook, Instagram, and TikTok surpass LinkedIn in terms of ROI for B2B marketers.
The Impactful Media Formats
Our survey also explored the various media formats that marketers employ to engage their audience effectively. Let’s take a closer look at their preferences and the expected growth in 2023:
1. Video: The Undisputed Champion
Video content reigns supreme among marketers, with 50% utilizing videos as part of their marketing strategy. Videos offer the highest ROI among all media formats, making them a popular choice. In 2023, 24% of marketers plan to invest more in video than any other format, and one in three marketers will try leveraging video for the first time. Images, blog posts, interviews, and podcasts will also see high first-time use in 2023.
2. Images: Visual Appeal
Images are another popular media format, employed by 47% of marketers. While they may not offer the same ROI as videos, images play a crucial role in capturing the audience’s attention. Marketers continue to recognize their value, with 29% planning to invest more in images in 2023.
3. Blogs: A Time-Tested Strategy
Despite the popularity of visual content, blogs still hold their ground, with 33% of marketers utilizing this format. Blogs offer a great platform for providing valuable information and building thought leadership. In 2023, 26% of marketers plan to invest more in blog posts than any other media format.
4. Podcasts: The Power of Audio
Podcasts and other audio content have gained traction in recent years, with 28% of marketers incorporating this format into their strategies. While podcasts may not offer the highest ROI, they provide a unique opportunity for storytelling and engaging with the audience. In 2023, 24% of marketers plan to invest more in podcasts, recognizing their potential.
Overcoming Challenges and Achieving Goals
While marketers have identified several trends and strategies for 2023, they still face various challenges in achieving their goals. Let’s explore the hurdles they encounter and how they plan to overcome them:
1. Challenges Marketers Face
Marketers identified several challenges that impact their strategies and hinder their success. These challenges include creating engaging content, reaching the target audience effectively, generating leads, keeping up with trends, and measuring ROI. Additionally, marketers highlighted the impact of data privacy regulations, the need to grow a global audience, the importance of utilizing CRM to its fullest potential, and the necessity of sales and marketing alignment.
2. The Outlook for 2023
As marketers plan for the coming year, they expect to face new challenges while building on their previous successes. Keeping up with the latest trends tops the list of anticipated challenges, followed by increased competition, leveraging CRM effectively, and the need to pivot marketing strategies. Marketers also emphasized the importance of data collection and overcoming challenges related to data privacy regulations and consumer distrust.
The Path Forward: Adapting to Change
As we navigate the rapidly changing marketing landscape, it is crucial for marketers to stay agile, data-driven, and responsive to emerging trends. By leveraging the power of data, marketers can gain valuable insights into their audience and make informed decisions. Short-form video, influencer marketing, social media DMs, SEO, humanizing brands, and data-driven decision making are key trends to watch in 2023. Furthermore, social media platforms like Facebook, YouTube, Instagram, TikTok, and LinkedIn offer unique opportunities for marketers to engage with their target audience effectively. Media formats such as videos, images, blogs, and podcasts continue to play a vital role in capturing audience attention.
While marketers face various challenges, a proactive approach, coupled with automation tools and effective use of budgets, can help overcome these obstacles. By staying ahead of trends, understanding target audiences, and measuring the right metrics, marketers can achieve their goals and drive success in 2023. Embracing change and staying adaptable will be the key to thriving in the ever-evolving marketing landscape.
As we look ahead to 2023, it is clear that marketers who embrace data, leverage emerging trends, and adapt to change will be the ones to succeed. By staying agile, focusing on customer understanding, and utilizing the right strategies and platforms, marketers can navigate the challenges and capitalize on the opportunities that lie ahead. The marketing landscape may be ever-changing, but with the right approach, marketers can stay ahead of the curve and achieve their goals in 2023 and beyond.