In 2022, we offered predictions and insights around Influencer brands, metaverse gaming, and data privacy deadlines. We’ve seen advertising spending start to bounce back from its “Covid recession” of 2020. Now, despite concerns about the economy, ad spending is predicted to increase in 2023 – just not to the level of recent post-pandemic years, according to Dentsu.
Although spending could slow, 2023 will be a year of changes. From artificial intelligence to the cookie-less future, keep these insights in mind as you plan out the balance of 2023.
Artificial intelligence for data analysis and process automation.
Artificial intelligence in marketing is becoming increasingly popular, providing early adopters a strategic advantage over competitors. Businesses are leveraging AI to better understand customer behavior and preferences, while personalizing content and messaging to meet their needs. In fact, “by 2025, organizations that use AI across the marketing function will shift 75% of their operational activities from production to more strategic activities,” according to Gartner’s 2023 Marketing Predictions. AI can also be used to automate processes like customer segmentation and targeting, as well as optimizing campaigns for maximum reach, engagement and ROI. Process optimization will unlock productivity for marketers. This may require a new set of skills for platform assessment and acquisition (vetting which platforms are right in your marketing stack), management and maintenance of vendors and operational use of AI platforms.
Interactive video for engagement.
Interactive video is a form of digital media that allows viewers to actively participate in the content they are viewing. This could include adding annotations, voting on topics, and more. Interactive videos can engage with audiences, create immersive experiences, and even be used as an educational tool. With interactive video, marketers have endless opportunities to engage with their audience. Numerous studies show how interactivity increases how much people like a brand, good or service.
Personalization to deepen relationships.
In 2023, personalization trends in marketing will focus on providing an individualized experience for customers. This can be achieved through the use of data-driven customer profiling and segmentation, enabling marketers to tailor content, messaging, promotions and offers to customers based on their specific needs and interests. Marketers will use detailed analytics to track customer interactions and to provide content that’s relevant to them. This personalization will increase conversion rates and improve customer acquisition, retention and value.
Context over one-to-one attribution.
With the promised deprecation of third party cookies and increasing policy scrutiny around hyper-individual targeting online, contextual targeting and advertising seems set to overtake one-to-one attribution. Contextual advertising focuses on delivering ads to users based on the content of the websites they are viewing. It uses contextual targeting technology to determine which ads should be displayed and is increasingly being used as a replacement for user based audience building, which has been the traditional method for delivering targeted ads. Measurement of advertising success will move back to statistical models that look at overall campaign investment and corporate results to determine optimization opportunities.
The pendulum swings back to outsourcing.
During the market growth prior to the pandemic, companies increasingly brought their marketing services in house. The current economic climate has seen a tightening of company balance sheets and a spate of layoffs, while certain roles remain challenging to fill., while at At the same time continuing a low unemployment rate with trouble finding appropriately experienced candidates for specific roles. In past economic cycles, this has led to corporate executives reassessing their staffing needs and moving outsourceable non-essential roles to well-qualified, outside service providers who are able to acquire and train professionals in the roles that are required to run a modern marketing stack.
No matter the trend, the Kiosk team is excited about the meaningful ways to connect prospective customers with relevant brands and services. Have an idea? Contact us today.