The direction of marketing has changed in recent years. It is no longer about creating brand awareness but expressing your values and beliefs, engaging content, compelling storytelling, etc.
Only businesses willing to follow the trends and take the necessary steps to invest in their brands will have an edge in the highly competitive market. Jurgen Cautreels has outlined his expert marketing industry predictions for 2023 below.
Jurgen Cautreels is a marketing professional and an investor.
What Are Some Marketing Industry Predictions To Keep Businesses Ahead Of Competitors In 2023?
One of the marketing trends that will keep you ahead of your competitors in 2023 is the use of Artificial Intelligence and Machine Language. Understanding how AI influences core areas of digital marketing and implementing it in your digital marketing strategy will constantly keep you ahead of competitors and improve your ROI.
Artificial intelligence and machine language would help personalize content, analyze customer data, improve search engine optimization, optimize campaigns, target marketing efforts, etc.
Another marketing trend that is guaranteed to keep you ahead of your competitors is short-form videos. Short-form videos have taken the lead in content creation. Many social media platforms such as Instagram, Facebook, and YouTube have shown this through their sudden capitalization and embrace of short-form videos.
Instagram’s stories and reels, YouTube shorts, Facebook reels and stories, TikTok, etc., have enabled businesses to take advantage of this new snack-sized video trend.
Why Should Businesses Follow The Marketing Industry Trends?
Following the marketing trends allow businesses to represent themselves and their values while gaining awareness, trust, and loyalty. It will enable you to connect with customers on topics that interest them. You can also understand your consumers’ behavior, interests, and preferences, which will guide you through creating content that engages them.
Which Marketing Trends Should Businesses Follow?
Not all marketing trends are particularly for your business to take advantage of. You should only follow directions that resonate with your values and brand identity.
What Are Some Of The Common Marketing Problems Businesses Face?
Inadequate cash or resources is a common obstacle in the way of marketing for many different types of businesses. This could be because of losses or a low return on investment. This usually prohibits companies and marketing departments from accomplishing their firm goals. The generation of leads is still another significant challenge.
It becomes hard to find new leads that stay loyal to your products and services when many other people offer something similar. This is especially true for companies with lots of competitors.
How Can Businesses Overcome These Challenges?
You can resolve the issue of insufficient marketing funds by tracking and making reports on performance metrics or Key Performance Indicators (KPIs). These metrics include Customer Lifetime Value (CLV), Customer Acquisition Cost (CAC), Conversion Rate, and Return on Investment (ROI).
To solve the problem of generating leads, you can research the kind of content that resonates with your target audience, monitor the market trends, and track and analyze your performances to know what generates engagement.