The world of marketing moves at the speed of light.
Keeping up with these changes isn't always easy for marketers of any skill level. But if you want to succeed in the fast-changing world of digital marketing and keep your audience interested in you, it's important to stay ahead of them.
As 2022 draws to a close, it's time to start reevaluating your marketing strategies for the new year. Here are some strategies you should consider incorporating into your business to see continued growth in 2023.
- Live broadcasts and video content
It is estimated that by 2021, consumers will spend 5.48 billion hours streaming on mobile devices. Video content is one of the most effective ways to capture the attention of consumers. Users spend most of their time on channels that provide live streams and video content on platforms such as Instagram Reels, TikTok, Youtube Shorts and specialized platforms such as Twitch.
These platforms can also be extremely profitable, with research showing that live streaming will contribute $78 billion to the creative economy by 2025.
2. Social business will continue to grow
Using apps like TikTok or Instagram, consumers can browse products and make purchases on social media and content creation platforms. It's called social business. Social commerce is projected to be worth nearly $80 billion by 2025.
What does this mean for business owners? Providing your customers with a "link in bio" to your online store is one aspect of social business. With the introduction of this marketing channel, navigation and decision-making processes have changed when, how and where they happen. Big companies, for example, are partnering with platforms like TikTok to create new connections with consumers, moving from traditional advertising methods to engaging and entertaining content.
- The creative economy is thriving.
For years, marketing teams have been told that influencer marketing is everything. This is still true, but in 2023 a new class will begin to emerge: digital creators. A person who creates something online is called a digital content creator or content creator. These people specialize in creating videos, images, graphics, blogs or content for Instagram, YouTube, TikTok or other social networks.
The goal of content creators is to create engaging information that informs and educates their audience. They have the potential to reach a large audience, but they tend to be connected less to the creator than to the knowledge they share.
Marketers are more likely to turn to content creators than influencers for high-quality content they can use in marketing. You can plan strategies and use original content to promote your brand. While creators may not have a large audience, the types of content they provide often meet the demand for user-generated content.
4. Use effective marketing
The pandemic has taught marketing teams to adopt an agile approach to marketing and incorporate flexibility into their marketing strategy. In the year By 2021, more than half of marketers changed their strategy, and 83% changed it two to four times a year.
Based on the agile methodology used in software development, it is becoming increasingly popular in digital marketing because it allows for collaborative experiments and effective promotion of projects. In fact, according to the 4th Annual Individual Marketing Report, marketing teams are 51% effective. This marketing method emphasizes real-time collaboration and allows marketers to easily respond to changing trends. Using these practices in your business means having a plan B in case of global events and changing trends in your industry.
5. Analysis and modification of data
On July 1, 2023, Google announces the end of support for Google Universal Analytics. Marketing teams need to migrate to Google Analytics 4. This platform consists of several improvements to track customer service quality across multiple platforms and attempts to collect event-based data instead of session-based data.
GA4 also emphasizes customer privacy. This conflicts with some new privacy laws, including GDPR and CCPA. GA4 is a cutting-edge technology that delivers unprecedented analytics through privacy monitoring, multi-channel data measurement and AI-powered predictive analytics.
In addition, Google has stated that it will not stop using other cookies until 2024. However, experts point out that there are many other ways to obtain information. Marketers should consider deriving consumer data solely from surveys, SMS marketing, AI chat tools, or other other data sources.
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