Marketing Trends 2023
Another 365 around the sun, and we are back establishing our working weeks - writing briefs and strategies, booking meetings, client onboarding and trying to work out the office’s new coffee machine!
There has been a lot going on over the past few years - global pandemics, financial crisis, civil conflicts and war, and with that comes a lot of change – impacts to markets and changes as to how we operate day to day. We’ve seen these impacts shape marketing trends, and as we enter the new year it’s no different – new year, new changes. So, looking ahead let’s discuss some marketing trends for 2023.
We’ll be the first to tell you the value of content, and there’s nothing unexpected for marketers here - content is still king. However, it’s the quality of content that might come as a surprise. While many brands can still afford to produce high quality content (thanks to high budgets), many can’t – but that doesn’t mean you are falling short. In fact, raw and rough content isn’t going away, with some saying it is yet to reach its peak in popularity. And while this trend is a positive spin, working in favour for many brands, those brands with bigger budgets will have to really think about the value of maintaining the same level of quality content so to not loose brand reputation. The demand for content remains, and in fact is only increasing with consumers wanting personalisation more than ever, as well as a variety of content – blogs, infographics, videos, podcasts, webinars, videos, articles, eDMs, case studies etc. - single format will not provide cut through.
Content Creators vs Influencers
Influencer marketing still continues to play a part in marketing strategies, however the rise of content creators is taking centre stage. And the difference? Influencers are backed by large numbers of followers, whereas content creators are smaller-scale influencers who still produce high quality content but for a smaller fee. Influencers can charge up to $10,000 per post (I know, we’re in the wrong game), which for many brands is a collaboration far beyond the marketing budget. That’s where content creators come in – still producing engaging social content without requiring the established social media presence / following. While this space isn’t new for marketers, new trends are expected to emerge in 2023, with brands exploring new ways to work with influencers and tackling a combined approach (where budget allows) of working with both influencers and content creators to maximise social reach. Keep in mind, if you are working with either influencer or content creator ensure they align with brand values, and seek to engage them regularly to solidify the relationship and connection consumers will have with them and your brand.
Sustainability and Ethics
Sustainability is no longer a nice to have, consumers value sustainability and green initiatives from brands, and prioritise purchase decisions in favour of brands that have a strategy in place. The same goes for brands that are built on ethical foundations. Both of these are key to improving the relationship between brand and consumer, as well as internally among staff and stakeholders. Without sustainability and ethical practices in place in 2023 brands could face losing customers to responsible competitors.
As the marketing landscape continues to change, so too do consumers and it’s even more important for marketers to be agile to continue to meet customer demands. Customers are utilising new tech, moving into new spaces and ways to spend their time online, and brands need to stay relevant and know where their audiences are. Keeping up with every new trend and adopting these into your marketing strategy may be an impossible task, or not financially viable, however it may be possible to trial some of these new ways to understand, reach and communicate with your audience. If you need help understanding how your brand may be impacted by these changes and trends reach out to our team today – we’d love to help!