As a new year begins, marketers are predicting which marketing trends will matter the most and placing their bets (and budgets) on those they believe will show the most return on investment. Here below are five tactical trends that we see adding value to the market(ing) place in 2023.
1. A Greater Emphasis On Building A Strong Brand
A strong brand can build customer loyalty, increase customer lifetime value, drive business growth, and increase the perceived value of your products or services, which can lead to higher prices and more profitability.
A few benefits of building a strong brand:
- A strong brand helps to establish a company’s identity and sets it apart from competitors.
- A well-known brand helps to build trust with customers, which can lead to increased customer loyalty and repeat business.
- A powerful brand can lead to higher levels of customer satisfaction, as customers are more likely to have positive experiences with a well-known and trusted brand.
- In today’s digital age, a strong brand is also important for online visibility and search engine optimization (SEO). A well-known brand is more likely to show up at the top of search engine results, which can lead to increased traffic and sales.
Full disclosure: Yalo offers our Brand Strategy Bootcamp to help fledgling as well as established brands to dip their toes in the world of brand strategy for greater awareness in the public sector. It’s a fun, informative, effective exercise our clients love to experience!
2. The Burgeoning Creator Economy
Creators are the beating heart of social media, and their endorsements can shape consumer behavior drastically. The creator economy refers to the network of people who create and share content online, often for a large and engaged audience. Brands can tap into the creator economy in a number of ways:
- Collaboration: Brands can work with creators to produce sponsored content or to promote their products. This can be a win-win for both parties, as creators get paid for their work and brands get exposure to the creator’s audience.
- Sponsorship: Brands can sponsor events or projects featuring creators, or they can sponsor a creator’s content directly. This can help the brand reach the creator’s audience and establish a relationship with the creator.
- Affiliate marketing: Brands can work with creators to promote their products through affiliate links. When a creator’s audience makes a purchase using the link, the creator earns a commission.
- Product development: Brands can work with creators to develop products based on their content or ideas. This can be a great way to tap into the creator’s audience and get valuable feedback on product development.
- User-generated content: Brands can encourage their customers to create content featuring their products and share it online. This can help to increase brand awareness and engagement.
Overall, the key to success in the creator economy is to build authentic and mutually beneficial relationships with creators. This can help brands to reach new audiences and stay relevant in an increasingly digital world.
3. The Implementation Of Automation And AI
Artificial intelligence (AI) and automation are being increasingly used in marketing to help companies save time and resources, as well as to improve their marketing efforts. Some common applications of AI in marketing include:
- Customer segmentation: AI can help companies segment their customers based on various characteristics, such as demographics, behaviors, and interests. This allows companies to tailor their marketing efforts to specific groups of customers.
- Personalization: AI can be used to personalize marketing messages, content, and recommendations based on a customer’s past interactions with a company. This can help increase the relevance and effectiveness of marketing efforts.
- Predictive analysis: AI can be used to analyze customer data and make predictions about their future behavior. This can help companies plan and execute more effective marketing campaigns.
- Chatbots: AI-powered chatbots can be used to interact with customers in real-time, answering questions and providing assistance. This can help companies scale their customer service efforts and improve the customer experience.
- Content creation: AI can be used to generate marketing content, such as social media posts and email subject lines. This can help companies save time and resources on content creation.
Another disclosure! Yalo has been offering Sentiment Analysis services powered by AI for some time now for business intelligence for our clients.
4. The Cost-Efficiency Of User-Generated Social Media Videos
TikTok and user-generated social media videos that organically draw in an audience or create word-of-mouth are the best bang for your buck. There are several benefits of user-generated social media videos:
- Authenticity: User-generated content is typically more authentic and genuine than content created by brands. This can help increase trust and credibility with your audience.
- Cost-effective: User-generated content is often free or low-cost to produce, as it is created by individuals rather than professional marketers.
- Increased reach: User-generated content has the potential to go viral, which can significantly increase the reach of your brand.
- Customer engagement: User-generated content can help increase customer engagement by giving them a way to participate in your brand and share their experiences with others.
- User-generated content can also provide valuable insights and ideas for your marketing campaigns.
5. The Rise Of Web3 And Virtual Influencer Marketing
Brands can leverage web3 technology and virtual influencers in a number of ways. Here are a few potential strategies:
- Partnering with virtual influencers: Brands can partner with virtual influencers by sponsoring their content, creating sponsored posts together, or collaborating on projects. This can help brands reach new audiences and tap into the influence of virtual influencers.
- Creating their own virtual influencers: Some brands have created their own virtual influencers to promote their products or services. These virtual influencers can be used to reach specific demographics or to promote products in a more immersive way.
- Utilizing non-fungible tokens (NFTs): Brands can use non-fungible tokens (NFTs) to create unique, collectible experiences for their customers. This could include exclusive virtual events with virtual influencers, or limited-edition digital goods that are only available through the use of NFTs.
- Experimenting with new web3 platforms: There are many new web3 platforms emerging that allow for immersive and interactive experiences. Brands can experiment with these platforms to find new ways to engage with their audience and promote their products.
Overall, virtual influencers and web3 technology offer brands new and innovative ways to reach and engage with their audience. By staying up-to-date on the latest trends and technologies, brands can find creative ways to leverage these tools to their advantage.
Let Yalo keep you on-trend in 2023. Subscribe to our free e-blasts below for informative, entertaining and stimulating analysis and critiques on what‘s happening in the worlds of marketing, advertising and pop culture. Scroll down to the bottom of the page if you’d like to start a conversation with us!