Digital marketing is an ever-changing ecosystem, sensitive to a range of factors that govern the market. Digital marketing strategies of today might become obsolete tomorrow and yield no results. Also, algorithms of the social media platforms or search engines can change overnight, which is why a business owner and digital marketer has to comply and adapt to them real-time.
Table of contents
- Video content is king
- Brands to focus on building a rapport
- Podcasts are here to stay
- Gamifying websites for better UX
- Impetus on customer retention over acquisition
- Advent of ChatGPT will alter content delivery
- Resurgence of in-person events
- Leveraging social media platforms
- Cryptocurrency, NFT, Metaverse to gain prominence
Here, we look at a few digital marketing strategies to follow in 2023 and beyond:
Video content is king
If content is king, then in today’s world it has to be video content. According to statista, India registered the highest percentage of viewers on YouTube, which is 467 million followed by the United States at 246 million in 2022.
It is not that video platform is new in the digital marketing space. It has been around for quite some time. But, video marketing strategies have undergone sea changes since then.
People are now more drawn to live-streamed video content. One reason for this is that users constantly fret over losing out on some information. The “fear of missing out” syndrome or FOMO is real. So, they gravitate more toward live videos than conventional ones. More than 20% of global viewing time is consumed by live videos on platforms like Facebook, Instagram, YouTube, etc.
Another trend that has become evident in recent times is that people are averse to videos that are edited with a professional touch. They like them raw and realistic. Professionally edited videos are seen as botched, losing to connect with the audience. To gain from this trend, brands should move toward creating Instagram reels and YouTube shorts with a personal touch to gain higher visibility. Viewers tend to swipe away from videos that appear very professional.
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Brands to focus on building a rapport
The way people shop online has evolved over the years. Consumers these days prefer to get involved with a brand with which they can establish a connection. They want to associate with a company that demonstrates some kind of social responsibility, has integrity, and a modus operandi that is transparent.
So, more and more companies are now shifting toward promoting their commitment to these social causes on numerous social media platforms. This may not convert into immediate sales but will lay the foundation for building strong brand awareness among potential consumers.
Almost 50% of gen Z and over 40% of the millennial population are likely to go for brands and products that are recommended by a popular social media influencer, reports the above study.
Podcasts are here to stay
Among various new tools and methods of intriguing consumers is a podcast, which is gaining significant popularity. It is one of the quickest and proven ways of piquing customers’ attention. Brands should consider podcasts as a leeway to share their story that consumers can access from any internet-enabled device from every corner of the world.
Depending on the target audience and product category, the length of the podcasts can be maintained by the company. Seeking feedback and comments in a podcast can be a great way to involve the consumers and forge a long-term partnership. Not only companies and brands, but even personal brands are also largely promoted via podcasts. Many professionals use podcasts as a medium to market themselves and their services. What is more gratifying is that results can be gauged almost instantaneously. YouTube podcasts can be an ideal medium to generate the buzz about a new product or service by companies. Facebook and Instagram platforms can also be explored.
Gamifying websites for better UX
The addition of interactive and similar features into a website is called ‘gamification’, which is a new path in digital marketing. These new add-ons in the form of interactive features can be a great way to encourage users to explore the brand website more. Protracted engagement of consumers will provide broader insights into their behavior that can be tapped to market the end products.
Over 80% of people with smartphones engage in playing online games during some part of the day. Hence, Gamifying can lure customers and keep them glued to the website and products for a longer duration. This increases brand visibility and promotion, helping in the retention of customers because they find the whole experience enriching and interesting. This kind of UX makes customers return to a site that eventually translates into sales—the end goal.
Impetus on customer retention over acquisition
Digital marketing has swerved towards retaining customers than acquiring new ones because it is cost-effective and more fruitful. Existing customers are more likely to try out new products and spend more than new customers, reveal studies.
Although the retention rate varies for different industries, there is a sense of hurry in retaining consumers by all sectors as the world is bracing for a potential recession this year. So, this will be a key factor for companies to sustain and wade through 2023. Brands are likely to dole out all sorts of loyalty programs, promotions, special prices, etc. Digital strategies in marketing will involve spending more on technology and providing customized services to consumers.
Advent of ChatGPT will alter content delivery
All the brouhaha about ChatGPT indicates that content creation and delivery will never be the same again. People believe that the AI ChatBot will bring about a paradigm shift in the content delivery platform, a vital cog in the digital marketing wheel. So, brands will have to formulate new strategies in 2023 to address the disruption brought about by ChatGPT.
This could be a tricky situation for digital marketers, as it might cut for or cut against them while implementing their strategies. Experts feel that although content creation has become easier, unique and quality content will be scarce with ChatGPT.
So, it is likely that new techniques will be devised to tweak AI-generated content and make them more human. People tend to respond to something which comes with a human touch. So, instead of jumping the bandwagon and running after AI content, brands should still rely on content created by humans.
Resurgence of in-person events
Live events have always been a winner within the scope of digital marketing. But, the last three years have been challenging as the Covid-19 pandemic had brought in-person promotions to a standstill. As the virus seems to have ebbed, live promotions will return in 2023 in a big way.
People surveyed have confessed to going to in-person events in the early part of this year. It will increase in the latter part of 2023. Brands should go all guns blazing to make their live promotions successful, pumping in more money and effort.
Leveraging social media platforms
Social media platforms have flourished during the pandemic and are predicted to grow even more. According to a report, it would propel to 5.85 billion by 2027. So, digital marketers know that the real action lies here. Advertisers and digital marketing companies must try to capitalize on the boom in social media usage by spending big money.
To a large extent, success in digital marketing strategies will depend on leveraging the potential of the social platforms that people are engaged in. They should direct most of their resources toward social platforms like YouTube, Instagram, and Facebook etc.
Brands will manage to get conversions in these platforms based on how successfully they have designed and delivered their campaigns. Social media has become a veritable playground for e-commerce businesses now. Purchases now take place in various social media apps, generating direct revenue for companies.
So, the surge in social commerce apps will drive sales for brands this year. These apps will garner sales worth billions in the current fiscal for the most popular ones. Hence, digital marketing will focus on social media platforms in 2023.
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Cryptocurrency, NFT, and Metaverse to gain prominence
Digital marketing should try to tap into the potential of cryptocurrency in 2023 as it has emerged as one of the hottest trends in the last couple of years. Investors in the digital currency world have swelled manifold and it is perceived as the future of doing business. More and more products are now available to be purchased with the use of cryptocurrency, which is growing by the day.
As technology has become pervading, NFTs (Non-fungible-token) have also made inroads into marketing. The year 2023 will be a deciding and important one for NFTs. Digital marketing trends of offering NFTs as lottery and other incentives will become commonplace in the coming years.
Similarly, there will be a focus on Metaverse as a way to augment digital marketing strategies in the coming years. Although the phenomenon is at a nascent stage, it might snowball into something worthwhile as far as online commerce is concerned in the form of marketing video tools.
To scale one’s business and grow continuously, digital marketing guys must have their ears to the ground. The tactics that brought in sales and built a sizeable customer base last year may not be helpful in 2023. However, implementing these strategies will surely help to stay ahead of the curve.