There is no doubt that digital marketing takes the lion’s share of the marketing budget of businesses today. It is no longer possible to reach your sales targets by depending on offline marketing solely anymore. No matter the industry or the size, digital marketing enables the business to increase its audience reach, engage with them, increase the conversion rate, and reach your marketing goals.
Subsequently, the digital marketing market is growing by leaps and bounds. The global digital advertising and marketing industry is expected to reach $786.2 billion by 2026. It is expected to grow at a CAGR rate of 13.9% between 2022 and 2026.
However, the digital marketing landscape is a constantly evolving one. You need a well-thought-out strategy to reap the benefits of digital marketing. For making a prolific marketing plan, it is important to understand the changing trends in digital marketing. Let’s take a quick look at the various trends that may dominate the market in the coming year.
Video Marketing
Videos have been proven to be a better marketing tool for engaging your audience in the last few years, especially in the post-pandemic period. It allows brands to showcase their products and convey their messages effectively. It is a cost-effective marketing tool that allows businesses to increase conversion rates in social media.
The prominence of video marketing is expected to improve further in the next year. Businesses are already leveraging different ways of video marketing such as user-generated content, live streaming, shoppable videos, short-form videos, etc. in their digital marketing strategy.
Role of AI in Digital Marketing
Artificial Intelligence is establishing its presence in almost every industry and business function. Digital marketing is no different. We expect the role of artificial intelligence in digital marketing will be more evident in the next year.
One of the major use cases of AI in online marketing is that it enables businesses to optimize their marketing ROI. AI-based technologies can largely improve the effectiveness of content marketing as well. AI-powered solutions can empower businesses to make smarter and more intelligent decisions and thus reach their marketing goals.
The Growth of Influencer Marketing
With the rise of video-based content in social media based, the importance of influencer marketing is growing significantly. Owing to its many advantages, the influencer marketing industry is expected to hit $16.4 billion by the end of 2022. From macro-influencers to nano-influencers, businesses are increasingly engaging with influencers to promote their product or service.
In the coming year, we are expecting much traction in nano-influencer marketing given its various benefits and cost-effectiveness. Moreover, influencers and brands are collaborating to provide features for livestream shopping as well.
Personalized Marketing For Better Results
Personalized marketing will become important more than ever in 2023. Given the current competitive landscape, it is quite challenging for businesses to grab the attention of their target group. There is no space for a one-size-fits-all approach in marketing anymore.
As a result, marketers will be focusing on creating customized campaigns to improve the effectiveness of marketing. For this purpose, they need to know more about their target group such as demographics, likes and dislikes, behaviour patterns, etc. When you know more about the customers, you can tweak the campaigns to meet their expectations of the customer.
More User-Generated Content
Days have come when customers value authenticity more than anything else when choosing a product or service. Subsequently, brands are increasingly focusing on creating an authentic image. That is where user-generated content comes in. It offers a unique opportunity to build authenticity around the brand. It has become much more common for businesses to collaborate with influencers and users to do unboxing videos, product reviews, how-to-do videos, etc. these days.
Furthermore, user-generated content is a cost-effective tool for improving the results of your marketing efforts. By leveraging user-generated content, brands can create an enormous pool of data within a shoestring budget. Users find user-generated content to be more trustworthy. Owing to all the benefits, brands are expected to put more effort into generating user-generated content in the next year.
Conversational Marketing
Chatbots are not anything new for us. They have become part of the customer support strategy for quite some time now. The change we see now is the shift from automated customer service robots to intelligent assistants for marketing. Conversational chatbots can increase engagement rates significantly and help to connect with customers on a deeper level.
Brands have already started to tap into intelligent chatbots for providing a top-level customer experience. We are expecting the presence of conversational chatbots further in customer interactions, customer support, and product sale as well.
If you are ready to gear up your digital marketing efforts as per the changing trends, we are here to assist you. At FCS, we develop and execute result-oriented social media marketing trends according to the changing trends. Call us today for a quick consultation!
