This article is part of the Allwork.Space 2023 Future Of Work Forecast. Click here to read about other trends we expect to see in the new year and how they will impact the future of work.
- A 2020 HubSpot report showed that 91% of marketers say they are “somewhat” or “very” confident that their current tactics are driving revenue.
- Authenticity plays a pivotal role in modern marketing tactics. By including real customers in marketing strategies, prospective consumers feel more inclined to trust what the business is saying, and in turn support what it is selling.
- Companies that utilize AI to analyze customer response and measure engagement levels can easily gain insight into which marketing strategies are the most effective.
PART OF OUR 2023 FUTURE OF WORK FORECAST
Business marketing has taken on a life of its own. Social media — what is now the crème de la crème marketing tool for most industries — can be fickle, and what’s trending today can be canceled tomorrow.
Now more than ever, marketing strategies have the power to completely alter a company’s standing and success.
Despite ever-shifting potential pitfalls and the importance of strong marketing plans, most companies feel confident.
In fact, a 2020 HubSpot report showed that 91% of marketers say they are “somewhat” or “very” confident that their current tactics are driving revenue.
How can businesses maintain that confidence and build off this growth? They need to be ready to adjust to future marketing trends.
In 2023, companies will need to focus on user-generated content and integrate AI tools as part of values-based marketing. Acting with transparency and accountability will also be key.
User-Generated Content
The relationship between companies and their consumers has never been more important.
Rather than being told what to buy and when to buy it, some companies are handing the mic off to their audiences instead.
Giving a dedicated customer the chance to express why they are so loyal to a company offers other prospective customers an authentic testimony to the service or product.
Authenticity plays a pivotal role in modern marketing. By bringing real customers into messaging strategies, others may feel more inclined to trust what the business is saying and in turn support what it is selling.
Like looking up reviews for a company on Yelp, user-generated content offers corroboration. In the new year, giving a voice to customers will be a key strategy for attracting and retaining consumers.
AI Tools
Seemingly overnight, artificial intelligence (AI) went from a sci-fi fantasy to a tangible reality. With investments into startups using AI expected to exceed 2020’s levels, it’s no wonder this technology is expected to become a critical marketing tool in the future.
AI has the capability to do much of what marketers can, but at a much higher speed.
Companies that utilize AI to analyze customer response and measure engagement levels can easily gain insight into which marketing strategies are the most effective.
This allows marketers to tackle what technology cannot — incorporating a human-touch to create a well-rounded approach.
Moving forward, AI will be a critical tool in implementing efficient marketing tactics. Simultaneously, marketers will be expected to learn how to work alongside this technology.
Value-Based Marketing
Arguably since the onset of the pandemic, a company’s position on social justice, political issues and workers’ rights now holds an incredible amount of weight with audiences.
Increasingly, customers and employees alike are becoming vocal about companies taking stances, rather than watching from the sidelines. This stems from the idea that businesses hold more power in enacting meaningful change because they have larger platforms, access to a broader audience and the funds to reach them.
But highlighting values as a marketing strategy isn’t just a nice front. It can make or break the longevity of a company, with a 2020 report from Edelman showing that 90% of respondents believe that businesses must support and uplift their employees in order to gain consumer trust.
This doesn’t appear to be a fad, either. As young people continue to take up a large portion of consumerism and employment in 2023, companies that highlight their values online are more likely to gain customer traction and loyalty.
Transparency and Accountability
Although not a direct marketing tactic, a business that is transparent about their operations bodes well in the eyes of consumers.
Today’s customer base isn’t interested in fluff — they want to know the challenges facing a company, as well as the tools used to address these obstacles. They also want to have a full understanding of how their information may be used.
Sugarcoating reality only spikes a potential customer’s skeptic meter.
Luckily, the use of technology and data gives companies an easy way to exercise transparency. Numbers don’t lie. Providing insight into business dealings and how customer data may be used can ease the minds of those with privacy and ethical concerns.
Data collection will play an inevitable part of marketing in the future. Businesses that get ahead of the curve by keeping their customers in the loop of how their data is being used are expected to gain a better reputation, therefore a stronger hold on their core audience.
