The Cor Team’s 2023 Marketing Predictions
With 2022 coming to a close, it’s great to look back on all the marketing trends we’ve seen in the last year. This past year brought an increase in influencer marketing, more social responsibility, shopping integrations on social media, and much more. These advancements have given a platform for trends to continue to grow or see new ones come to the surface.
Now we have a new year coming, and a new year calls for new marketing trends! As a team at Fifth & Cor, we went back and forth about what we think we’ll see in 2023. Based on what we’ve seen in the last year, we came up with a list of our predictions for the new year!
4 Marketing Trends We’re Predicting
1. More authenticity from brands
First on our list, authenticity. User-generated content (UGC) has been on the rise in today’s creator economy as consumers rely on each other to make informed purchase decisions. In fact, according to Stackla, consumers are 2.4x more likely to say UGC comes off as more authentic compared to branded content.
Brands have the opportunity to stand out from their competitors by building relationships with their audiences and leveraging UGC. 90% of consumers said that authenticity is important in their decision process of which brands to support. Trust and relatability are two components that are more important than ever.
2. The growth of experiential marketing
Experiential marketing is another trend we’re predicting for this new year. As more brands continue to incorporate their audiences, we expect to see many more “experiences”. This can be anything from pop-up shops, virtual experiences, art installations, trade show experiences, augmented reality experiences, and much more.
This type of marketing is great for brands looking to raise awareness, build understanding, and increase sales. And trust us - people love to interact with their favorite brands. When you allow space for your audience to interact with your brand, it makes them feel more connected to you. A study by Sprout found that when customers feel connected to a brand, 57% will increase their spending with that brand and 76% will buy from them over a competitor.
3. Video is only going to get bigger
In the last year, we saw not only users and brands incorporating more video into their content but platforms continue to put emphasis on this type of creative. Short-from videos have been continuously increasing in popularity and are very effective for marketers. In fact, 90% of marketers that are already using short-form videos are planning to increase or maintain their investments in 2023.
Videos allow you to create deeper connections with your audience and increase your sales. For example, Tik Tok is a social platform that has skyrocketed in popularity, allowing users to watch short-form videos suggested to them based on what they like. The app has such a wide and diverse audience as it continues to grow in organic and paid capabilities, it would be a great opportunity for brands to get on board. According to Hubspot, Tik Tok ties second with Youtube and Facebook as the top ROI-generating platforms.
4. More brands will start to partner with nano and micro-level influencers
We saw influencer marketing increase in 2022, so we can only imagine how much growth will take place in 2023. Hubspot found that 89% of marketers that already use influencer marketing plan to increase or maintain their investment next year. Even more promising, 17% of marketers are planning to invest in influencer marketing for the first time this new year.
Our last trend prediction is that we’re going to see more brands partner with nano and micro-level influencers. These influencers have a smaller following, but don’t let that fool you. Their audiences are far more engaged than larger celebrities, and because they’re seen as “normal” people, they instill more trust when it comes to their opinions and recommendations. Partnering with these influencers can help brands grow their audience, traffic, and conversions.
To add, not only influencers will take a stand in these marketing trends but also partnerships between complementary brands. More and more brands are joining together to support each other and bring unique offerings to their audiences. This continues to help brands not only grow their audience but also gain the trust of their consumers by displaying a working relationship between two like-minded brands.
To wrap up: This past year has been a year of growth for the marketing world, and we’re only going to see these more and more trends grow in 2023. We’re excited to see what’s to come, and we’re curious to re-evaluate to see which of our predictions come true.
Make sure you’re going into this new year fully prepped and ready for what’s to come. If you’re not sure where to start, our team at Fifth & Cor is here to help fine-tune your current strategy. Contact us today to see what our experts can do for your business!