Top Trends for 2023
Small business leverage creators as big brands cut back spend
As a recession looms and the cost of living continues to harm, big brands will do what they always do – cut marketing spend. Even though it has been proven time and time again that those who invest in marketing during difficult times will reap the rewards.
This opens up opportunities for smaller businesses to align themselves with content creators and influencers that might have otherwise been linked to bigger brands.
ROI is key
Return on investment is nothing new, but every penny counts in 2023 and this will be key for the person holding the purse strings. Which is why digital and social media will be key to many brands ad spend given the detailed reporting offered by both.
ChatGPT will enable content creation
If you haven’t heard of ChatGPT yet, you will! This AI chatbot is seriously smart and will give any content marketer a good start for 10. Keen eyes will be able to tell it’s not human, so don’t rest on your laurels. Add your own spin to the suggested content and add an opinion. What ChatGPT will give you is fact, not opinion.
CTV and OTT will grow
With Netflix launching its own ad platform for tight fisted subscribers (like me) and Ryan Reynolds investing heavily in his advertising empire, Connected TV or Over The Top advertising will accelerate. The ability to deliver highly targeted content to your desired audience is obviously great, but will the cost be inhibitive unless you’re a Nike or Apple grade client, with budget to burn?
A deeper interaction with brands
According to Harvard Business Review a 5% increase in customer attention generates a 25-30% increase in spend. So no wonder brands are looking to leverage a plethora of digital tools to enable a deeper interaction with their fans. Whether this is augmented reality, playable ads, interactive videos, programmatic audio or gamification, brands will invest if it means a richer interaction (and hopefully spend) with their audience.