Marketing Trends 2023: The Good, Bad, and Ugly

Since the pandemic, marketers have realized that keeping up with the latest marketing trends is critical for the success of their marketing campaigns. Rapid advancements and updates have been driving growth and innovation for all industries, especially marketing. These upgrades and trends will ultimately define the future of digital marketing.  So, to help you achieve your marketing goals, improve brand recognition and client pool, we have compiled a list of the marketing trends in 2023 that you need to watch out for!

Marketing Trends to Watch Out for in 2023

It is not unknown that consistent marketing efforts help seek major returns both in terms of improving customer retention and boosting revenue. And with the start of another new year, it is important that you follow the marketing and business trends of 2023 in order to improvise your strategies for a successful marketing campaign.

So, here’s everything you need to know about the marketing trends 2023. For your convenience, we have categorized these trends into 3 parts- the Good, the Bad, and the Ugly.

The Good

1. D2C eCommerce Sales Is on the Rise

With the Covid-19 pandemic hitting the entire world, the D2C (Direct to Consumer) sector became one of the most happening ones and still continues to rise rapidly.

The coronavirus forced people to stay inside which in turn made them adopt online shopping on a large scale. This helped in the growth and advancement of the D2C sector and creating a loyal customer base.

Reaching out to target consumers is easier via eCommerce platforms as compared to traditional channels. Moreover, marketers have started using interactive content types like eCommerce recommendation quizzes to boost their sales online.

Thus, as per the marketing trends 2023, marketers can continue to look at D2C as a source for the growth and development of their brands.

2. The Great Boom in Live Content

Social media marketing plays a major role in the success of marketing campaigns. You can promote your brand in various ways on social media. One of them is by creating live content such as live videos.

All the major platforms like YouTube, Instagram, Facebook, etc. support live videos. And with the rise in the number of social media users, streaming live videos is no longer a novelty. Nevertheless, live videos are changing the way brands interact with their target audiences. They help you promote your brand in ways that are authentic and that no other formats can.

The global live-streaming market is predicted to reach over $247 billion by 2027. This is your cue for including live content in your marketing strategy and trends for 2023!

3. Influencer Marketing Is not Just a Trend Anymore

Influencers are experts in different fields with a good number of followers on social media platforms. They have an audience that is highly engaged and influenced by the content they post.

Chances are that you already knew all this – because it’s not a trend anymore. It has become one of the irreplaceable ways of marketing.

Thus, marketers are increasingly indulging in collaborations with influencers for brand promotion. Doing this not only helps increase brand awareness but also helps in reaching out to a wider audience.

If you’re worried about the costs associated with influencer marketing, don’t worry! More than 56% of marketers work with micro-influencers. Micro-influencers are influencers with a smaller following (ranging between thousands to tens of thousands). Even though their followers are less in number, their content has good engagement. This helps out brands in flourishing rapidly.

4. Metaverse Marketing Is Here to Stay

The Metaverse is one of the most unimaginable innovations of perpetually advancing technology. It is a unique virtual environment that has taken over the internet in no time.

Metaverse marketing is one of the major marketing trends 2023 and it is going to be here for a long time. Savvy marketers should familiarize themselves with VR marketing to gain a competitive edge when the time comes. It is a network of third dimension virtual worlds focused on the evolution of social connections.

Digital marketers need to understand what exactly metaverse is and what is its potential. An important thing to keep in mind is that the millennials and Gen Zers are the most valuable target audiences for metaverse marketing.

The Metaverse is a huge universe in itself and there are tons of ways to leverage it for your benefit.

5. The Wave of Short-form Videos

Short-form videos are all over the internet nowadays. With the rise of short video content through Instagram Reels, TikTok, YouTube Shorts, Google, Pinterest, LinkedIn, etc, brands have started realizing their potential.

As per a recent survey by HubSpot, short-form videos have the highest ROI in any social media marketing strategy. Thus, 30% of social media marketers plan to invest in it more than any other trend in 2023. So, there’s no doubt that including short-form video content in your marketing strategy is a smart choice for 2023!

Short-form videos like Instagram Reels are extremely popular and catchy. It even takes less effort to create reels when compared to creating YouTube videos. Moreover, they are said to have the highest ROI as compared to other forms of social media marketing.

6. Interactive Content Still at the Top

For years, marketers have been using interactive content as a way to lure customers. It includes fun content types like quizzes, calculators, giveaways, product recommendations, polls, etc.

Interactive content allows users to indulge in a two-way dialogue which helps in the personalization of their entire experience, leading to an increase in engagement and conversions.

Moreover, interactive content helps generate first-party data. Users need to share relevant information in order to get custom results. This helps brands in gaining direct insights on the interests of their target audiences.

Although interactive content is here for a while, mind you, it is here to stay and is going to be an important marketing trend for 2023, and many years to come.

NOTE: You can try your hand at creating interactive content by signing up for Outgrow’s 7-day free trial. No coding; no credit cards required.

The Bad

Increasing Competition 

The covid-19 pandemic led to countrywide lockdowns all around the world forcing countless companies to shift their functions online. Companies from all domains are now carrying out their functions online which has resulted in a steep rise in competition.

Consumers now have multiple options when they’re looking for a particular product or service. This may work as an advantage for some, and a disadvantage for the rest. Hence, brands would need to put more time, cost, and effort into their marketing campaigns in order to retain their consumers and attract new ones.

The Ugly

The Downfall of Cookies in Browsers Like Chrome

Marketers have been using third-party cookies to track the visits on their website, improve user experience, and collect important data which helps them understand their target market better. Cookies also help in tracking what your visitors are viewing, and why they aren’t on your website.

But all this is coming to an end!

And the way marketers utilize third-party cookies may see a drastic change by the end of 2023. This is a huge (un)development and is going to have a major impact on how marketers work. 41% of marketers believe that the inability to track the correct data is going to be a huge challenge for them.

Believe it or not, it’s really happening, and this marketing trend is going to make things ugly!

What Should You Do?

Now that we’ve discussed the major marketing trends 2023, let’s move on to see how you can get the best out of them.

1. Go Omni-channel

Omni-channel marketing is nothing but the integration of the various channels that brands use to communicate with their consumers, creating an omnichannel experience. With a consumer-centric approach, omnichannel marketing lets consumers interact with brands via innumerable channels including both physical (eg. stores) and digital (eg. websites) platforms.

This way of marketing focuses more on the customer experience rather than the channels. It aims at delivering the right message at the right time to the right set of consumers.

2. Leverage Conversion Rate Optimization

You can boost your conversion rates using many different techniques. These techniques may depend on what action you want your customers to take and what kind of medium you’re using to communicate with them.

Some common and effective ways to leverage conversion rate optimization include creating eye-catching headlines clearly stating the offer you’re making or creating an attention-grabbing CTA to drive them in the right direction.

3. Increase Average Order Value per Customer

Average Order Value (AOV) is the average amount that a customer spends on a transaction with you. An increase in AOV will help you increase your revenue. But how can you go about it? Let’s see.

You can offer product recommendations to your customers. You can do this by creating an interactive eCommerce recommendation quiz and embedding it on your website. Some more tactics to increase your AOV include setting order minimums for discounts, setting up customer loyalty programs, etc.

Conclusion 

Here you go! We hope we’ve been able to provide you with sufficient information on the upcoming marketing trends 2023.

You can now start working on your marketing strategy for 2023 keeping current and future trends in mind. So, without further ado, sign up for Outgrow’s free trial and create enticing interactive content to boost your engagement rates!

If you think we missed out on something, please let us know in the comments section below! 🙂

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