Economic development and lifestyle changes triggered by the pandemic have also brought with it increasing competition and drastic changes in the marketing landscape, making it ever more challenging for brands to stand out.

In a recent study, nearly 80% of marketers said their industry has changed more in the past three years than in the last 50.

To target customers effectively, the top trends in the industry for next year will be focused on:

Digital marketing

As more and more consumers turn to online experiences, a focus on digital marketing is inevitably gaining pace. This will encompass more personalized marketing to target the audience to gain attention and business, especially with the help of AI and machine learning. The latest research on digital marketing investment from the Gartner State of Marketing Budgets and Strategy in 2022 research highlights the trends in budget allocation amongst larger businesses where:

  • Marketing allocates more than half its budget to online channels (54% on average).
  • Digital commerce accounts for 9.4% of marketing spend, ranking fifth in the overall marketing budget allocation.
  • Within the digital budget, more than 60% is on paid media
  • There is an even balance between the ranges of digital media channels

Personalization

Personalization in marketing has become a buzzword amongst brands. It is all about tailoring content based on where the customers are in their journey with the company. As a result, personalized emails help improve both engagement and conversion rates. Personalization is the future of marketing because it is the key to building deeper relationships with customers while giving them more value than they expect from brands today.

The COVID crisis confirmed what we already knew about the changing marketing landscape; brands must communicate in precise and personalized ways, targeting specific audiences based on their current circumstances, preferences, and needs because consumers have become more discerning and expect brands to have precisely what they want and they expect the buying journey to be proactive, relevant, and connected. At every interaction, their preferences need be catered to, and their future needs anticipated. This creates better customer relationships, as consumers know they can expect relevant content and valuable suggestions throughout the process.

Additionally, a greater focus on customer experience is playing a large role in the number of return customers, and referrals, which can directly help the growth of your business.

Influencer Marketing

There is no doubt that influencer marketing has become one of the most popular digital marketing forms on social media today, with an increased investment in influencer marketing – the social media marketing that involves working with individuals with a large social media following to promote a brand or product. In 2023, we expect to see more businesses invest in influencer marketing, as it can be an extremely effective way to reach many potential customers.

Corporate Social Responsibility

CSR represents a turning point for companies. The public, stakeholders and investors are favouring companies that are socially responsible and committed to build a sustainable future. Organisations chasing sustained growth must remain in close alignment with a carefully considered CSR strategy. Companies are expected to play an increasingly significant role in making the world a better place. Today, customers, employees and investors are more inclined to engage with purpose-driven companies that are taking action to overcome economic, social, and environmental challenges.

The main CSR trends that we can expect to see developing in 2023 include Digital Transformation, Transparent reporting, and employee engagement.