Digital Marketing Trends 2023. Forecast (Part 2)
In part 1, CleverAds mentioned 3 digital marketing trends that are predicted to have a lot of changes and development in 2023. So in today’s article, we will go to learn more about which trends will transform and contain the most future potential!
4. AUTOMATIC MARKETING TRENDS
As companies collect more and more data, more tasks need to be performed to effectively optimize marketing campaigns. Then automation tools provide a way to accomplish repetitive tasks at scale.
4.1.Switch to signal-based marketing
In 2023, there will be a shift in mindset from engineering-based marketing to predictive marketing. This will allow marketers to predict what customers want and then feed it into automated processes.
This new mindset not only makes things more efficient but also allows for personalization. Currently, this is being applied to platforms like Google ads and seems to be the element that Facebook and other social channels are aiming for.
“In digital marketing, we have collected data and observed behaviors and now what we are looking for are signals. They seem similar, but also a little different.” “Behavior reflects preferences, while signals are where audiences tell you what they want,” says Cathal Melinn, PPC and e-commerce expert.
Switch to signal-based marketing: Anticipate what customers want and then automate processes
4.2. The importance of automation tools
Gartner predicts that by 2024, organizations with IT departments will understand their customers’ needs, outperforming other organizations by 20% in customer experience metrics.
This understanding will rely on automation tools for internal processes and to enhance the customer experience. These include marketing tools for CRM, social media, advertising, lead management, or email.
“One trend for 2023 is the increasing use of tools for automation and personalization at scale. To do this will be difficult because you need to understand the data you own, put that data into a tool and use that data to automate your communication with consumers. These can be actions that automate things like ‘next best actions’ based on what the customer has done in the past and what they might do in the future.” Ken Fitzpatrick, CEO of the Digital Marketing Institute said.
4.3. Artificial intelligence and the launch of GPT-4
You may not have heard of GPT-4 (Generative Pre-training Transformer 4), but it is an advanced tool that can help marketers automate many tasks. Developed by OpenAI, it is a deep learning model that generates text trained through available online content. Used for questions and answers, text summarization, machine translation, classification, code generation, and AI conversation.
Generative Pre-training Transformer (GPT) is a text-generating deep learning model that is trained on data available on the internet. It is used for question and answer, text summarization, machine translation, classification, code generation, and AI conversation.
According to Clark Boyd – a digital strategy consultant. GPT-4 can open up new opportunities for marketers. “We will start to see specific business applications (with GPT-4). There are many funding sources available to startups trying to build. Such as social media content creation tools. You just need to enter a bit of information about your brand and these tools will generate 50 ideas for content, then you just need to select the ideas that interest you most.”
5. MARTECH TREND 2023
Marketing Technology – Martech – software used to create, execute, manage, and measure the performance of content (online and offline), campaigns, and experiences. This is an effective way to streamline the customer journey and launch omnichannel marketing campaigns.
5.1. Martech’s budget continues to grow
According to eMarketer, the budget for Martech in the United States will surpass $20 billion for the first time in 2022, up 15% from the same period last year. This spending is due to companies investing in technology that allows them to collect and store data, use data to make decisions, and execute those decisions.
More specifically, B2B companies account for more than 30% of that total budget, and this share is expected to increase moderately over the next few years to $8.5 billion by 2024.
It’s hard to keep up with the Martech industry. What we are continuing to see while working with a platform is what we learn, and we see a gap. Next year or six months from now, there will be a new technology platform that fills that void.” Chris Coomer from Neil Patel Accel said.
5.2. CRO will no longer be an experiment
To date, many marketers have experimented with conversion rate optimization (CRO) and used a variety of other testing methods. However, Chris Coomer believes that this era of “just seeing what happens” is coming to an end because the present is no longer just about chasing results.
I think the CRO was viewed in a Silo structure. That’s how we get from point A to point B. I think people are starting to see more holistically, customers are getting more and more demanding about what they want to see.” I said.
As an agency, we would do something to get a better conversion rate, but how does that affect the customer’s bottom line? How does that affect the user experience? Questions are being asked that force us to look at a broader perspective.”
5.3. Metaverse slows down but will still be used by businesses
Metaverse made a splash in 2022 and will continue to do so in the years to come, but growth has been slower than expected due to plummeting profits and soaring costs.
Even so, Alison Battisby believes brands will start thinking about their strategies for the new era of virtual immersive communication in 2023.
One of the biggest telltale signs (of a new chapter in social tech) is Meta’s commitment to the Metaverse, and how they’re going all out to build these domains and virtual existences. It will take years to change people’s behavior and get used to this new service, but that doesn’t mean we won’t see some exciting innovations in cyberspace.”
Nike recently announced that it will allow people to design their own trainers, or sell and wear them in the Metaverse. I think in 2023 we will see a lot of big brands making commitments towards the Metaverse,” Battisby said.
6. DIGITAL MARKETING TRENDS 2023 WRAP-UP
2023 will be an exciting and challenging year for marketers! Brands will need to think carefully about their messaging to engage audiences and match creators and influencers with similar values.
These developments demonstrate the continued growth of marketing both in terms of technology and strategy. You’ll have time to think about which trends are most important to the brand and which trends to capitalize on in 2023.
If your business is in need of Digital Marketing solutions, contact us at cleverads.ph for the fastest support.
