The emergence of cutting-edge technologies such as artificial intelligence (AI), machine learning (ML), and data analytics, among others, has enabled brands to predict customer preferences and curate personalised experiences for them.
In highly competitive business environments, it has become imperative for marketers to constantly navigate new pathways to strengthen ties with customers and stay ahead of the curve. From leveraging cutting-edge technology to integrating responsible marketing endeavours, they are leaving no stone unturned to create compelling strategies to achieve determined goals and business objectives.
As we enter 2023, new trends are constantly evolving and taking the centre-stage in the coming year. In addition, marketers will not only face the challenge of growing competition, but they will be further required to become more innovative and disruption-proof, foster strong brand-customer relationships, and be more resilient and agile.
Growing consumer consciousness propels the need for responsible marketing
Today, consumers are more aware of their responsibilities towards society and the planet and they expect brands to voice similar sentiments in their marketing practices. For stronger brand-consumer relationships, responsible marketing is no longer a choice but a necessity. Companies will have to integrate these practices to not only encourage product purchases but also leave a lasting positive impact on the lives of consumers and link them with larger goals such as environmental protection. Also, companies now fully acknowledge the importance of trust and credibility and they will further accelerate their efforts to make consumers feel proud of their association with them.
Combination of digital and traditional, hybrid marketing to gain traction
As marketers integrate huge possibilities brought by digital tools in marketing strategies, they will continue to benefit from the traditional methods which hold equal importance as well. This combination of digital and traditional will give rise to hybrid marketing which will gain traction in the coming year. It is emerging as a foremost choice even for small businesses to save time and costs. Hybrid marketing provides a comprehensive outreach strategy by focusing on online platforms and in-person interactions for successful brand campaigns.
Brands to leverage cutting-edge technology to offer personalised experiences
The emergence of cutting-edge technologies such as artificial intelligence (AI), machine learning (ML), and data analytics, among others, has enabled brands to predict customer preferences and curate personalised experiences for them. This will gain more prominence as brands will utilise data to analyse customer behaviours, choices, needs, demand, and buying patterns to bring more personalisation to their offerings. Technology will make communication seamless and smoother, and brands will be able to respond to customer queries and interact with them to strengthen relationships.
Metaverse to become the marketing playground
The coming of Metaverse– a digital replica of the real world where users can live, work and play in the form of digital avatars, has opened myriad possibilities for marketers. This is still an emerging space, and the coming year will witness increased interest from brands who will be trying to utilise this space to its full potential. The virtual space will provide more brand visibility and will facilitate driving conversations in both real and virtual worlds for the organisation’s benefit by engaging active consumers present in the space. This will also be a great opportunity to strengthen company recognition and attract customers irrespective of their age, location, gender, or occupation. Metaverse is garnering popularity among the GenZ and millennial populations, and the coming year will definitely see it becoming a marketing playground for brands.
Employees as the most influential marketing asset
In the coming year, employees will gain more importance as influential marketing assets for companies. Sharing positive messages through word-of-mouth, or social media messages can amplify their reach in a way that is more trustworthy and credible. With employee advocacy, brands will be able to deliver messages in a better manner, resulting in more awareness of products and also seeing more recommendations of their services and offerings to friends and families.
Capitalising on voice search and video marketing
The customers are actively using voice to search for products and realising this, brands are relying on immersive experiences through interactive voice-based features and services. The availability of voice-enabled devices has further made it possible to reach consumers in an innovative way. Voice marketing offers countless benefits and brands will have to adapt to this technology for marketing purposes. Similarly, video content still holds importance in marketing. There is a growing inclination for ‘snackable’ and memorable short video content on various social media platforms and brands will definitely create more engaging content in video format to deliver their messages in a fun and simple manner to attract attention. As the business environment is constantly facing disruptions owing to various forces like technology, marketers in 2023 will concentrate their efforts on coming up with strategies that will not only safeguard companies but will also help them prepare for the future.
(The article is authored by Rajat Abbi, Vice President – Global marketing for Greater India, Schneider Electric)
