The 2023 Marketing Outlook

Date

While 2022 has had its share of challenges including inflation, shopping changes, supply chain issues, and company turnover we look to 2023 to find energizing strategies to infuse success for our clients.

We’ve analyzed the trends and shifts in the market, and we have found that there’s a lot to look forward to in the coming year.

Internal Strategies

As companies continue to employee retention issues and customer service satisfaction, these 3 things will be key to being successful from the inside out.

Understand the Importance of Employees – A study done by PWC1 shows that almost half of surveyed consumers will leave a brand engagement if employees are not knowledgeable and bad employee attitudes are the #1 reason for what drives a consumer away from a brand.

Having your employees understand and buy in to your brand, mission, and values is a key factor in creating high-quality engagement with consumers. It’s equally important to understand and live by the idea that your employees are one of your most valuable assets – that you buy in to them as well.

Focus on Customer Experience (CX) – Make the experience with every customer so spectacular that they keep coming back for more. That same study reported that efficiency, knowledge, convenience, and friendly service are the most important factors in a customer’s experience. And they are willing to pay more for those things.

The study revealed that 54% of consumers say that customer experience at most companies needs improvement. Don’t be left behind by not addressing your company’s CX right away.

External Strategies

Become More Personal – understand that your brand isn’t for everyone. Find ways to connect

1 https://www.pwc.com/us/en/advisory-services/publications/consumer-intelligence-series/pwc-consumer-intelligence-series-customer-experience.pdf

with your consumers more personally, such as customized email marketing or real-time messaging platforms. There is no better way to become personally connected than through real-time communication. This concept turns back around to the CX aspect and is crucial to maintaining and growing consumer retention.

Embrace the Metaverse – Start experimenting with the Metaverse. While there aren’t a significant amount of use or performance case studies yet, many big brands such as Nike and Starbucks are already jumping on board with immersive Metaverse experiences. Utilizing an external agency also allows you to keep separate your personal profiles. Agencies already have been immersed in the Metaverse and can produce better results overall.

Expand Past the Metaverse – Videos are vital to consumer interaction, retention, and trust today. For businesses to stay relevant they must consider TikTok and IG Reels now. Test and learn your way to success and be willing to take risks.

Be Savvy with Data – Privacy laws have affected how marketers gather data, so be aware of the data you are using. Consider using site-based forms to collect first-party data and build audiences based on that information. Ensure your information is quick and easy to garner more data.

Influence with Influencers – An estimated 16 billion dollars are expected to be spent on influencer marketing. Research opportunities to integrate influencers into your marketing plan for next year. Examine how your competitors or other industries are harnessing influencers to grow results. Influencer marketing has been on the rise for years, and this trend will only continue as influencers build up larger and larger audiences that are ripe for the picking of marketers.

Continue with What Works – Don’t throw everything out. Analyze your systems, marketing efforts, and production. Find what works and look at ways to enhance. If you feel overwhelmed

1 https://www.pwc.com/us/en/advisory-services/publications/consumer-intelligence-series/pwc-consumer-intelligence-series-customer-experience.pdf

by such an analysis, consider onboarding a marketing agency as an extension of your company. They can focus on what is working, implement new opportunities and maintain efficiency in all aspects of marketing.

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