Markeing Trends & Opportunities for 2023.
If you want to make this your best year in business yet, then I've got some pretty cool stuff to share with you in this Blog because the world of marketing has changed a lot this past year and it doesn't look like thingsare going to be slowing down anytime soon. But this is good news because what it means for you is that there are a lot of new trends and powerful marketing opportunities that you can take advantage of to build your brand and grow your business and essentially get to that next level.
So with that said, let me show you how it's done, starting with trend number one changing consumer behavior.
1. Consumer Behavior
Different things mattered to different people at different times through out history. For example, back in the 1930s during the Great Depression, the goal was survival. That was pretty much it. Then in the 1950s, the goal was the American dreamof owning a house with a car and having kids.In the 1960s, the trend continued as increased factory production and economic prosperity in North America led to a rise in consumer culture. Anyway, fast forward to today with pretty much anything and every thing you could ever want only a click away and priorities have shifted again,with nearly 80% of consumers valuing and prioritizing speed and convenience over all else. And more than 40% of respondents in PwC's Global Consumer Insights survey said they would bewilling to pay extra for same day delivery.
What this means for you as a business owner, an entrepreneur, a marketer, or a creator,is that speed and efficiency are the most important things that you need to focus on. Also a bit of a side note here. What isn't covered in the report, but something that's widely known in the business and marketing community is that as you go further up the income bracket targeting higher net worth and wealthier and more affluent individuals and businesses, well, the more that speed and efficiency become important, as wealthy buyers tend to value their time above all else.
2. Push and Pull Marketing
2Okay, next let's talk about push and pull marketing. There's a lot of ways to label,categorize and group different marketing strategies.
For example, free organic social media that comes from just posting as you normally would, versus paid social media like what happens when you run Facebook ads or Instagram ads inbound content based marketing like blogging podcasting or making YouTube videos.Versus outbound outreach based marketing like advertising promotion sales and search based marketing that relies on people actively seeking you out.Versus discovery based marketing, where you try to get in front of people who may not have heard of you before. But there's a lot of overlap and different words interminology and jargon that explains why some of these concepts just sound so incredibly confusing and why they can give you dark thoughts that keep you up in the middle of the night questioning the choices you made in your life that have brought you to this point.
But the point and the key terms that really want to break down for you here today is push marketing versus pull marketing. Pull marketing can also be called permission marketing. Inbound marketing, maybe a bit of content marketing, but whatever you want to call it, the goal is pretty much the same, which is to attract and draw people in. Push marketing, on the other hand, is interruption marketing,advertising, getting in front of people, and essentially all of the things that the average everyday person thinks of when they think of marketing.
So while it should come as no surprise that my preference to both create as well as receiveis going to be pull marketing, the big change that's going on in the market right now is the increased acceptance by consumers of push marketing. The big change going on in the market right now is the increased consumer acceptance of push notifications, which are messages sent through a push notification service to a mobile app or that can appear directly in your browser. The most interesting part of this all, though, is that how up to 60% of users now agree and opt in to receive push notifications. So if push marketing is something that would work for your business, then here's a few tips to keep in mind.
First, using emojis improves reaction rates by 20%. My scientific explanation for this is probably that emojis are fun. Next, the highest push reaction rateday of the week is Tuesday. And by using personalization, you can increase the rate of reaction you get by up to 400%.
of cool.
3. Zero Party Data.
Okay, next up is a quicktip, but an important one nonetheless. And that's all about the rise and power of zero party data, which when I say zero partydata out loud, sounds super nerdy and very complicated. But trust me, it's actually kind
which is all about the rise and power of zero party data.
First off, don't worry if you've never heard the term zero party data before. It's basically just a fancy name for any data that your customers voluntarily and deliberately share with you. Contrast this with third party data, which are bits and pieces of different sources of informationall stitched together and can even come from governmental and non profit and academic sources. And this third party data is often sharedor bought and sold on the open marketplace.
Essentially, third party data is the data that gives all the other data a bad name.This is because people don't usually like to bepixeled and cookied and tracked and followed all overthe internet, not to mention having their browsing histories and their credit scores and their employment records and pretty much anything and everything else you can think of being sold to big tech companies.And well, all of this is what's leading to the rise and power of zero party data that you can collect directly from your customers through the use of online quizzes or polls, through messages and conversations or lead magnets and freebies and giveaways. So if you're looking to give your zero party data or lead generation efforts a little bit of an extra boost,
4. Interactive Content.
Then you're definitely going to want to pay attention and use this next trend, whichis all about interactive content.
Interactive content is another one of those marketing terms that fortunately means exactly what it says. It's basically just content that you can interact with. See, marketing is easy, so think of things like interactive infographics or quizzes or games or calculators or assessments or basically anything that you can engage or interact with. And according to the Content Marketing Institute, 81% of marketers agree that interactive content grabs attention more effectively than static content.
I'm curious who the other 19% of marketers were though, and how they ever thought that static, unmovable images or content would ever work better than something dynamic and engaging and interactive. Anyway, on the topic of engaging and interactive content and something that gets someone's attention and keeps them engaged,
5. Video Marketing.
Here's the deal. Video is currently has been for the past many years and will continue to be the number one top marketing content format, both in regards to consumer preference as well as the results it's able to deliver from a business perspective. And this trend isn't slowing down anytime soon. In fact, I sometimes feel like a bit of a broken record here, talking about how important video is. But until the day that everyone I know and care about, and that includes you, is making more video, I still have preaching to do. So while video content holding strong in that top spot hasn't changed, what has changed is the style and format of video, namely the rise of short form. Thanks to the success that TikTok has seen, more and more platforms are prioritizing short form vertical video, and it's changing the way the consumers are engaging with content on all of the platforms.This explains why 90% of marketers who currently leverage short form video are going to increase or maintain their investment in 2023.
So the next question then is where should you post these videos? Well, Instagram and Facebook have Reels, YouTube has shorts, twitter and LinkedIn both support short form video and even Pinterest lets you post reelsor turn them into Pinterest story pins. So the answer is basically everywhere and any where. Long story short, or should I say long video short?
Creating shorter think 60 seconds or less vertical think vertical videos is a great way to get into the video marketing game without needing to worry about creating longer form videos, which are going to require some element of planning and scripting and editing and of course, posting and optimizing. But if you really want to make sure that this is your best year in business yet thatI've put together a blog right here with someof my best marketing strategies, tips and tricks. So make sure to check that.