In 2023, over 50% of business to consumer marketers plan to increase their marketing budget. But will they be reinvesting it into strategies they know work, or will they be trying new trends? Keep reading to find out.
1. Short Form Videos Will Be The Number 1 Focus
We saw TikTok blow up in 2020 and the majority of companies jumped on the trend and started to use it to their marketing advantage. Since then, we've seen Instagram Reels and YouTube shorts follow suite and start to push their short video features. In 2023, we're going to see a lot more short videos on our feed as over half of marketers plan to invest the most into them. These short vids allow marketers to show off products, increase their brand awareness and their profits which is what makes them so popular. With most social media platforms now allowing users to make their purchases without leaving the app, this is even more helpful to brands trying to meet their marketing goals.
2. Audio Content Is Going To Become More Popular
We all know that videos tend to do better than static posts on social media, but the use of just audio is starting to appeal to more and more marketers. Even though the use of podcasts and audio content has been low this year, with only 19% using using it in their marketing, research suggests that big investments into audio are going to be seen in 2023. You might want to get thinking of your podcast name now then...
3. Social Responsibility Will Help Brands To Grow
Consumers expect brands to take a stand on social media and be transparent with their values now more than ever before. Research has shown that many consumers put trust as their number one reason for making a purchase, meaning brands are going to have to address this demand and give their potential customers what they want.
4. Influencer Marketing Won't Be Going Anywhere
The power that influencers have over our purchasing habits has been made crystal clear over the past few years, and in 2023, we won't see much changing. Over 60% of marketers plan to continue or start using influencers in 2023 as they has been seen to have the best return on investment. And the best news? Data suggests that micro-influencers with less than 100,000 followers could be more effective than the influencers were used to seeing, meaning smaller businesses can also get involved.
Between publishing regular video and audio content on social media and developing trust with their customers, marketers have a very busy year ahead.