As an entrepreneur, you must be aware of how quickly trends change, technology progresses and the economy shifts. Yet one thing that never changes is the relevance of marketing. However, with time, marketing strategies do change. As a savvy entrepreneur, you should be able to adapt to new changes and integrate them into your marketing strategy. Because without marketing, your efforts in other business facets can be ineffective.
"To be successful and grow your business and revenues, you must match the way you market your products with the way your prospects learn about and shop for your products." -- Brian Halligan
As expected, digital marketing trends will rise in 2023. With sophistication and advancement in analytics tools, it will become easier to track customer behaviour and curate personalized marketing campaigns. The focus will shift toward privacy, personalization, and AI-enabled tools.
In this article, Let’s get an insight into the top 2023 marketing trends startups must follow to stay ahead of the competition and upscale their business.
Top 10 Marketing Trends Startups must follow in 2023
AR and VR-based experiential marketing
Experiential marketing strategy is an interactive and immersive experience where potential consumers ‘experience’ a product in real time. Many brands have successfully created such in-person events, but due to the pandemic, brands had to innovate and move towards virtual experiences. These experiences enhance the customer experience as they can engage with the brand emotionally.
Adidas gave its customers a thrilling experience through VR of climbing a mountain to promote a line of their outdoor gear. They employed VR to simulate the most challenging climb on the Delicatessen route in Punta du Corbi - Corsica. Participants were able to experience virtual climbing from a climber’s perspective. It helped educate users about the best techniques in rock climbing while letting them enjoy the outdoor scenery.
The modern consumer is more aware of their privacy rights and how their data is being used. This has led to stricter regulations and laws. Most big companies have decided to remove third-party cookies from their websites. In 2023, Startups must think of transparent and innovative ways of collecting relevant data.
Your privacy policies must be viable to the customers, and you must ensure them that their data is safe with your company. It will build trust and customer loyalty. To gather data, you can also offer consumers an incentive such as a discount code or a freebie.
Since users are not comfortable with banner and display ads, companies are investing in more cohesive and undisruptive ads now such as playable ads. To put it simply, native ads appear as part of the content the audience is viewing, and they don’t include words such as buy, purchase, or subscribe. They are subtle and less interruptive. According to Taboola, the global market for native advertising will reach $402 billion by 2025. Sponsored social media posts and promoted search results are some examples of native ads.
Multilingual content marketing through Machine translation
By restricting content to the English language you might miss out on attracting non-English speakers. Even the translation tools aren’t accurate enough to send the exact brand message you might be trying to put out. The solution to this is- MTPE-machine translation post-editing. Machine translation might have the same challenges as translation tools thus MTPE provides a better solution to content translation. After machine translation, a human translator/editor proofreads a document to measure the exact message that is translated while maintaining the quality of the content.
MTPE is like an integrated solution to the problem in the translation industry. It blends human skill and machine performance to give a quick and cost-effective solution. It can help in expanding your brand towards a multilingual audience.
Though responsible marketing is not a new trend, it is gaining popularity as Millennials and GenZ are more likely to associate themselves with a purpose-driven brand. Responsibility towards the environment, marginalized communities, inclusion, and diversity matter to today’s buyer. Companies must align their marketing strategy with responsible initiatives to associate with socially aware consumers.
Increase in podcast marketing
Audio content such as podcasts is excellent for brand awareness and user engagement. As a budding entrepreneur, you can start your own podcast and also, feature as a guest speaker on popular podcasts to build brand authority and gain attention as a thought leader. Guest podcasting can be an untapped marketing tool that can help you achieve your marketing goals. You can also invest in your audio content to reach a potential user base.
Rise of Influencer marketing
Well, no surprises here, influencer marketing is going to boom in 2023. More and more marketers will leverage influencers for brand awareness and to attract new customers. Influencers have an organic following and are more relatable than celebrities to buyers. However, as an entrepreneur, you must research an influencer's engagement rate and ROI along with their follower count. Sometimes a micro-influencer ( someone with fewer followers) does a better job of promoting your brand to a niche audience than an influencer with a large following.
Rise of Infographics
Infographics contains a lot of information in a compact form. They are a great way to share brand information that appeals to modern consumers. Infographics promote your brand and engage the customers with relevant facts and data about your brand. Keeping in mind users' low attention spans, infographics are an appropriate marketing tool in 2023.
Prevalence of chatbots
It is expected that startups will invest more in the sophistication and advancement of chatbots trends. They are set to perform more tasks than just handling customer queries. As per Drift, chatbots are becoming the fastest-growing communication channel for brands.
Short video format
Video content is not going anywhere. However short video format is gaining momentum at lightning speed. Tik tok and Instagram reel success are prominent examples of short video marketing. Long videos offer detailed knowledge and in-depth information but short video format has struck a chord with today’s audience, and this marketing trend is expected to grow further. According to Hubspot research, 1 in 5 marketers will be investing short-form video marketing tools in 2023.
Along with the top marketing trends for 2023, one must not forget that blogging, email marketing, SEO-driven content, and link building are still relevant and very effective marketing tools to attract and retain consumers.
We have witnessed various economic ups and downs and technological changes in the last few years. Come what may, one thing can never become obsolete, and that’s Marketing. However, brands need to change their marketing strategies as per digital marketing trends and consumer behavior.
Privacy concerns, personalization, virtual experiences, and the role of AI-powered chatbots and machine translation are some of the top marketing trends startups must follow in 2023.
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