Navigating Extreme Shifts in Markets and Economies
As we approach the new year, businesses are preparing for what promises to be a dynamic and unpredictable period in marketing. Expect rapid changes driven by global dynamics such as the war in Ukraine, cost of living crisis, geopolitical shifts, climate change challenges, and financial shocks.
Here are some of the top marketing trends to watch out for in 2023:
Sustainability Takes Center Stage
Sustainability will become more pervasive as a marketing theme in 2023. Companies that make changes to their production processes or downstream impacts will build a long-lasting legacy of customer loyalty. Expect customers to choose companies that align with their values, such as climate change and sustainability.
Social Media Continues to Evolve
Social media will continue to grow in size and complexity, with new channels emerging. Video content, especially short-form video, will become more ubiquitous. Brands will be competing in a noisier market, so experimenting with new platforms is an emerging trend. TikTok, which surpassed Google in traffic last year, is the new search engine for Gen Z. Expect a shift in SEO strategy.
Collaboration Is Essential
Cross-channel messaging consistency and continuity are key in an increasingly divided world. Collaboration outside of companies is bolstered by the growth in cloud technology that supports working within or outside of the firm. Expect companies to learn to work around silos more than ever before.
AI and Automation Take Over
AI and chatbots are coming to automate your marketing content. Chatbots using an algorithm to generate human-like text based on received input according to Marketing Week. Expect to see the use of technology for automating routine tasks. For example, Amazon went to a freelancing platform to produce social-media content for its Prime TV shows.
Growth Marketing and Revenue Recognition Are Buzz Words
Growth marketing and revenue recognition are becoming buzz words in the marketer’s key performance toolkit. The marketplace is a buzz looking for growth marketeers and chief revenue officers (CROs) who are melding together sales and marketing at the top to overcome silos which prevent growth.
As we approach 2023, businesses must be prepared for the extreme shifts in markets and economies. The trends above will shape the marketing landscape in the coming year. Our team is here to help you navigate these changes and grow your business.