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2023 Trends to Pump up Your Marketing ROI

2023 Trends to Pump up Your Marketing ROI

As the Western world watches the nonstop headlines about stock market declines, business bankruptcies, and big tech companies' headcount cuts, marketers are closely tracking the news on AI slowly stealing their jobs. ChatGPT questions the need for content creators; DALLE 2 steps on the way of artists and designers; web3-based social networks unites people into communities, changing the way they make purchasing decisions; the metaverse and NFTs set new standards for product presentation and promotion.

But before dropping it all and converting into Tibetan monks to find peace, think about how you, as a marketer, can use these mind-blowing technologies to achieve better results.

At the end of the day, with the lingering effects of the economic downturn and the continued geopolitical instability, it is more important than ever to stay ahead of the curve and be prepared for the changes that are to come.

In this article, we will explore the marketing trends shaping the industry in 2023 and how businesses can adjust their strategies to account for the hotter climate.

New trends to come:

Focus on people and communities

A focus on community and people is essential in marketing in 2023, as it allows companies to connect with their target customers on a more personal level. Through this kind of approach, companies can better understand their customers' needs, desires, and interests and tailor their marketing strategies to meet those needs. This will ultimately lead to increased customer loyalty and more efficient marketing campaigns that lead to enhanced brand awareness, higher sales, and greater customer satisfaction. Furthermore, by taking the time to build a strong community, companies can also create a more unified, cohesive brand identity that will extend beyond their products and services and create a lasting impression on their audience.

Participation experience (PX) instead of user experience (UX)

Participation experience (PX) is a great tool for marketing. It allows users to engage with a brand directly and on a personal level. In order to illustrate the participation experience, remember the sport. People get together in a sports bar to enjoy the game together, which creates a feeling of belonging and participation in something bigger. This experience is unique in comparison to when you do it alone.

Through PX, brands can create interactive and immersive experiences that are tailored to each user's individual needs and preferences. Furthermore, PX can allow companies to track customer engagement and preferences, meaning that they can more effectively target customers with relevant content and rewards. This can encourage customers to participate more and become more loyal to the brand. Additionally, PX campaigns can also be used to build trust and brand loyalty as customers feel more valued and appreciated. Ultimately, PX can help create a more powerful and rewarding connection between customers and brands - a key factor for successful marketing in 2023.

Focus on people and communities

Generative Artificial Intelligence

The latest releases of OpenAI are simply mind-blowing. From images to music to text – anything can be created in a matter of seconds. For example, former Square Enix game studio artist Christian Peñas recently created interactive concept art from Midjourney's creations. It looks like an entire scene from the game, which means that in 2023, brands will be able to use neural networks to create commercials and engage digital artists to do so.

Generative AI, for sure, has the potential to revolutionize marketing in a number of ways:

1. Improved Targeting: Generative AI can help marketers better understand customer behavior, allowing them to create more personalized campaigns and accurately target specific segments.

2. Automated Content Creation: Generative AI can help marketers create content more quickly and efficiently. This can lead to increased efficiency and cost savings.

3. Increased Conversion Rates: Generative AI can help marketers create campaigns that are more likely to convert, leading to increased ROI.

4. Improved Customer Insights: Generative AI can provide marketers with valuable insights into customer behavior, helping them to better understand their target audience and create more effective campaigns.

5. Enhanced Personalization: Generative AI can help marketers create more personalized experiences for their customers, leading to increased customer loyalty and satisfaction.

All these activities should still be aligned with a transparent data collection and processing strategy, but, for example, generative AI personalization could be particularly useful in e-commerce, where zero- and first-party-data-based personalized product recommendations and targeted ads could lead to increased sales and customer loyalty.

Extended Reality (XR)

Extended reality (XR) is a new technology that is quickly revolutionizing the way businesses market their products and services. XR is a combination of virtual reality, augmented reality, and mixed reality, and it allows businesses to create immersive experiences for their customers. This technology has the potential to revolutionize the way businesses interact with their customers and create powerful and engaging marketing campaigns.

One company that has embraced extended reality in its marketing is Coca-Cola. In 2019, they launched their "Share a Coke" campaign, which used augmented reality to allow customers to virtually share a Coke with their friends. Customers could take a picture of themselves with a virtual Coke bottle and share it with their friends. This campaign was a huge success, and it showed how powerful XR could be in marketing.

Back in 2016, Adello ran an interactive mobile advertisement campaign for Heineken, where users could shake their phones to cheer their favorite beverage with friends.

Another example of XR in marketing is the virtual store created by IKEA. This store was created using virtual reality technology and allowed customers to explore the store and shop for furniture without ever leaving their homes. This was a great way for IKEA to engage with its customers and create an immersive shopping experience.

Finally, there is the example of Lowe's, which used extended reality to create an interactive experience for its customers. They created a virtual showroom that allowed customers to get a better look at the products they were interested in. This was a great way for Lowe's to engage with their customers and create an immersive shopping experience.

Heineken Adello ad

As these examples show, with XR, marketers can bring their brand communication to a new level:

1. Increased Engagement and Reach: Extended Reality (XR) technologies such as virtual reality (VR) and augmented reality (AR) can create immersive experiences that draw customers in and keep them engaged for longer periods of time. In addition, XR technologies can be used to reach new customers who may not be able to physically experience a product or service.

2. Enhanced Storytelling: XR technologies can be used to create stories and experiences that are more engaging and memorable than traditional marketing methods.

3. Improved Customer Experience: XR technologies can be used to create interactive experiences that are tailored to the customer's needs and preferences, resulting in a more personalized and enjoyable experience.

The Metaverse & NFT

Metaverse is a decentralized virtual world that allows users to create and trade digital assets, such as NFTs. It is powered by the ETP blockchain, which is a decentralized platform that allows users to securely store and transfer digital assets.

One potential benefit of using the metaverse in marketing is the ability to create immersive, interactive experiences for customers. For example, a company could create a virtual storefront in the metaverse where customers can browse and purchase products in a virtual environment. This could be particularly useful for companies that are looking to create a more engaging and memorable brand experience. Nike, Chanel, and Walmart are good examples of interactive experiences in the metaverse.

In early December 2022, cosmetics brands L'Oréal and Charlotte Tilbury partnered with ReadyPlayerMe, a meta-universe avatar platform. Now meta-universe users will be able to try on the brand's cosmetics on their digital images and use them on more than 4,000 Web 3.0 platforms and apps.

NFTs, or non-fungible tokens, have become increasingly popular in the marketing world. They have been used to create unique digital experiences, drive brand engagement, and create a new form of digital currency. NFTs can also be used in marketing in a number of ways. For example, companies could use NFTs to create unique, collectible items for their customers. These could include virtual goods such as exclusive in-game items or digital art, which could be sold to collectors or used as part of a marketing campaign. NFTs could also be used to create unique, one-of-a-kind experiences for customers, such as virtual concerts or other events.

One example of a successful marketing campaign using both Metaverse and NFTs was by the company CryptoKitties. CryptoKitties is a game that allows users to collect, breed, and trade virtual cats. The game was able to generate over $12 million in sales using Metaverse and NFTs.

CryptoKitties used Metaverse to create a unique digital experience for its customers. They used NFTs to represent each individual cat and allowed users to breed and trade their cats. This created an engaging and interactive experience that was unlike anything else on the market.

Metaverse and NFTs have also been used to create a new form of digital currency. Companies such as BitClave and Binance have used the Metaverse platform to create their own digital currencies. These currencies can be used to purchase goods and services, as well as to trade with other users.

Metaverse VR

Gamification

Game mechanics in digital projects are actively developing and becoming more popular. A study by Mordor Intelligence found that gamification increases user engagement with a brand by 30% on average, and the average annual growth rate for gaming mechanics will be 26.5% over 2022-2027.

As an example, Apple is using an achievement system to motivate users to exercise.

Interactive mobile strategy

The number of people going online from a smartphone has reached 5.31 billion in 2022, compared with 5.19 billion in 2020. The mobile strategy ensures that businesses can effectively reach these consumers with engaging and interactive content such as videos, engaging graphics, and interactive experiences tailored specifically to their target audience's preferences. Even the metaverses go mobile-first.

Additionally, the mobile strategy helps to ensure that businesses have an up-to-date presence on popular mobile apps and platforms, allowing them to reach a much wider trackable audience. Furthermore, mobile strategy provides businesses with the tools and resources to measure, analyze, and optimize their marketing efforts in order to continually improve their performance and reach.

The trends to stay:

Effective Mobile UX

Agency On3 analyzed the results of companies' UX updates and found that 37% of brands increased revenue by implementing a smart UX design. Every year, the importance of user-friendly mobile web platforms or apps grows. Make sure your site is optimized and loads quickly, your autocomplete fields work correctly, and your design elements are conveniently located.

In addition, websites and apps should be designed with the ability to use animation formats and short videos. The ability to convey important information in small portions and with dynamics will be key in the fight for audience attention, and in the mobile version, this is especially important.

Many global brands are already using short formats in the UX design of Home and Product pages. For example, the Apple Music homepage has an interesting scrolling animation that helps diversify the experience.

Voice assistants

As the technology continues to improve and become more popular, voice assistants are an excellent way to reach consumers in a non-invasive and natural way. They can be used to answer consumer questions quickly and accurately, enabling marketers to create more effective campaigns and better target potential customers. Furthermore, voice assistants can provide additional data and insights to help personalize marketing messages and offer more tailored content to customers. With the help of voice assistants, marketers can quickly reach their target audience and improve their chances for success.

In 2022, approximately 142 million people in the United States (42.1% of the population) are projected to use a voice assistant. According to Statista, 32 percent of US consumers owned smart speakers as of 2021, an 8 percent increase from 2020.

Voice assistants

Personalization

Personalization allows businesses to tailor their marketing messages to their customer's individual needs and interests, which makes it more likely that customers will respond positively to the marketing message. Personalization also makes customers feel valued and appreciated, as it demonstrates that the business cares about their individual preferences. Finally, it allows businesses to track customer spending and preferences in order to develop targeted campaigns and build better customer relationships. A McKinsey study showed that personalization could increase revenue by up to 25%.

Data security

In 2022, people paid even closer attention to how brands use their data. In 2023, this trend is likely to continue, and it is worth emphasizing the security of user data. Talk openly about how exactly you plan to use the information and strengthen the protection of sites and apps against hacking. 35% of customers will refuse to buy from the brand if it secretly collects its data and uses it for its recommendation system. So broadcasting your privacy concerns to customers will increase loyalty and attract a new audience. For example, Google is preparing to abandon cookies in favor of the Privacy Sandbox project, indicating a growing concern about the security and ethics of data access.

Cookieless targeting

Cookieless advertisement targeting has the potential to revolutionize marketing, as it not only enables marketers to target audiences effectively in more privacy-friendly ways but also gives them access to more accurate audience insights, retaining their trust.

By 2023, it is expected that cookieless targeting delivered by an AI-driven technology provider will be essential for marketers to continue succeeding in the digital arena. With the ability to target users without cookies, marketers can reach a larger, more diverse set of users, giving them the potential to gain deeper insights and reach new customers.

As an alternative to the cookies, it is recommended to use zero-, first, or second-party data or cookieless alternatives.

From the very beginning, AdCTRL™ by Adello has been committed to protecting user privacy by obtaining user consent, analyzing anonymized user behavior, and adhering to the strictest data collection and storage rules, like GDPR and CCPA.

Bottomline

Undoubtedly, 2023 will bring new challenges and opportunities in the marketing industry. With the right combination of advanced technology, creative content, and targeted strategies, organizations can stay ahead of the competition and maximize the success of their marketing endeavors. With the ever-changing world of digital marketing, staying up-to-date with trends and creating a comprehensive and effective marketing plan are essential for success.

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