The new year presents us with great opportunities to reflect upon a year gone by and look forward to what is to come. In an agency which strives by the motto “Innovation lives here,” we’re particularly apt to think about the trends, strategies and technologies which will take the marketing world by storm and produce wins for our clients in the coming months.
So, to share a bit of what we’ve discussed internally, we’ve called together our experts to share their 2023 marketing predictions. In the below video, you’ll find Whitney Burgess, our vice president of strategy, discussing the big stories of 2022 and what’s on her radar for 2023.
Sit back, enjoy the video, and follow along in the summary below!
The Trends of 2022: TikTok, Vertical Video & Authenticity
TikTok has proven itself to be a major player in social media over the last few years. Its audience has grown larger and more dedicated, spending on average nearly an hour a day–more than any other major social platform.
The effects of TikTok on other social media platforms has not gone unnoticed either. Vertical video has made its way onto virtually every other platform, where it now often dominates, completely changing audience expectations for content everywhere.
Another effect of TikTok is an increased consumer expectation for authenticity from the brands they support. It’s imperative today for a business to establish their presence, both on and offline, as genuine, prosocial, and focused on the consumer first.
Appealing to audiences doesn’t have to be done through cheap trends, either. In fact, it’s more effective in the long term to develop a consistent personality that provides useful information. Because of this, online education is on the rise. Financial literacy, for example, is huge on TikTok. Brands can benefit from this by publishing their own product education content.
BeReal: The Concept to Watch for 2023
The app to watch for the moment is BeReal which is driven by this same interest in authenticity. The app notifies users randomly once a day to publish a current image from their phone’s front and back cameras. Several big names are there including Jimmy Fallon, Milly Bobby Brown, Chipotle, Elf Cosmetics and others. As of now, there are no ads on the platform.This gives many businesses the opportunity to be on the cutting edge.
Other brands have started to create their own version of BeReal including TikTok and Instagram. Ultimately, the rise and success of BeReal and its copycats is another indicator of the expectation the general public has for authenticity.
With economic uncertainty around the corner, businesses want to know where every marketing dollar they spend is going and if it is making a worthwhile ROI. While others are tightening their belts and budgets, we see an opportunity for our clients to stay in the game and reach new customers.
While most businesses only do last-click attribution, we like to see the whole picture. How long people are spending in each stage of the funnel, where they are leaving, and what keeps them shopping?
Tracking data like this allows us to know which efforts have a real impact and which we need to adjust or even let go. We can see where every dollar is going as well as where the new dollars are coming in and we can maintain both traditional and digital marketing. At the end of the day, tracking data is about knowing what creates sales and engagement.
Personalization and Visualization
Two key trends marketers need to have on their radar for 2023 are personalization and visualization.
Personalization has found its way into nearly every industry, even including banking and healthcare. This goes far beyond the personalization of the past, which focused on interests and style, and is key to make your brand stick in the consumer’s mind. We find lots of people are past being afraid of personalization, and they now like to see ads that are relevant.
The second trend to keep in mind is visualization. If you are reading this instead of watching the video, you are in the minority. People are far more likely to engage with a video than they are to read an article. The same goes for pictures, graphs and other visual aids. Because of this, video channels, infographics and data visualization are going to be extremely important in the days to come.
How to Stay Informed
Staying up to date on all the latest information in the field of marketing is a daunting task. The best way to keep yourself informed is to keep reading, keep watching the new content, and talk to other people who are doing the same.
The world is moving at an incredible rate and it’s impossible to keep up with it all. It can help to work with a team which specializes in their own areas. A full-service agency like MHP/Team SI can help! Fill out the form below to get in touch with us.