Marketing Trends You Should Not Ignore When Crafting Your 2023 Marketing Plan
Founder of Prash Marketing , a marketing agency division and CMO that helps startups and SMBs build their marketing practices and go to market.
In an ever-changing landscape, today's marketers must remain vigilant. As technology advances and business conditions change, so do the elements of creating an effective marketing strategy. This is especially important for startup founders, who must constantly find creative ways to market their innovative products. Even with a limited budget, startups can implement successful marketing strategies and campaigns by leveraging the ever-increasing social, political and legal changes affecting marketers.
As the Chief Marketing Officer of several budding startups, I have to stay up to date with the marketing space, strategies, tactics and tools to provide timely and accurate marketing guidance. Here are the four most powerful marketing trends that I think you should consider when creating your initial 2023 marketing plan.
1. Data privacy and user centricity
The past few years have seen significant changes in the way user data is collected and used. This change has been driven by improvements in government legislation; Consumer distrust and intense competition in the technology sector may also play a role. Consumers seem more aware and honest about who collects their data, how it is used and what rights they have to protect it. From killing third-party cookies to Apple making major changes to its privacy features, big data management is quickly becoming more user-centric. Companies are giving back the power to users and allowing them to control how much data they want to share. I think this trend will continue till 2023 only.
This change can affect your startup marketing strategy, as marketers now have to meet higher consumer expectations when it comes to protecting their data. You need to build trust with your customers through transparency, such as having an easily accessible privacy policy and terms on your website. By not using third-party cookies, your startup can target consumers differently without using their specific data. For example, you can do this in context. Also consider motivating customers by offering a discount or promotional code in exchange for their email address or phone number, and always provide an opt-out option. This is how you communicate with customers who think they are being paid for their data.
2. Podcasts and audio ads
According to Statista, "Podcast listenership could exceed 160 million by 2023 after growing by about 20 million annually." The versatility of podcasting makes it a great opportunity for marketers, as consumers can be reached anywhere, anytime, about almost anything. For startups, you can use podcasts to showcase your innovations and solutions, which can help position your brand as a thought leader in the industry. Consider starting your own podcast, or have your startup founder guest on a podcast with an established following.
Audio ads on podcasts have also grown this year and I expect that to continue in 2023 A study by Signal Hill Insights and Cumulus Podcast Network found that three out of four weekly podcast listeners say they take action after hearing a podcast ad. Podcast listeners can enjoy an uninterrupted listening experience when the host embeds ads into shows instead of using pre-recorded audio ads that are inappropriate and distract from the content. Podcast ads can be an effective strategy in your startup marketing strategy as they can increase awareness among your target audience, especially if you run podcast ads on topics closely related to your product.
3. Experience augmented and virtual reality
With the accelerating COVID-19 pandemic of all things virtual, companies are investing in innovative technologies that will help them weather the storm. When physical stores have to close, many brands are creating augmented reality experiences so shoppers can feel at home in-store. For example, Burberry's 2021 Pocket Bag AR campaign will allow consumers to visually design and sculpt their own 3D bag based on the new Burberry campaign. In the coming years, I expect AR and VR technologies to be increasingly integrated into marketing campaigns as consumers demonstrate their desire for unique experiences and interactions with the brands they love.
Augmented and virtual reality experiences can give startups a place to flex their creative muscles and do what they do best: innovate. From virtual guides to wearable NFTs, there are many ways to incorporate augmented reality into your marketing strategy. Although it can be expensive, beginners can also find more affordable options.
4. Targeted Marketing
Although target marketing is not a new technique, it seems to have become more popular in recent years in response to consumer interest in social causes. Target marketing is the focus of an organization's marketing and communication efforts around social issues. This strategy not only humanizes the business, but can also help customers develop deeper relationships with the brands they use and trust. There are many examples of targeted marketing by brands large and small, but one of the most well-known is shoe brand TOMS and its "one for one" model, which donates a pair of shoes to someone in need for every old pair. . . Supporting social causes through your startup marketing strategy is a great way to build consumer trust and brand loyalty, especially when the cause is closely tied to your startup's core values.
Following marketing trends in your industry can help you understand the channels and strategies needed. By applying this knowledge to your marketing plan, you can ensure that it is timely and relevant, allowing your marketing communications to reach your target audience when they need it. Startups with limited resources can start by implementing one or two of the popular strategies above to improve their 2023 marketing plan.
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