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2023 is here and the year is expected to change the way the digital marketing industry worked for more than a decade. In this blog, we are covering some of the possible digital marketing trends from 2023 that you might have to be concerned about. Let’s have a look!
The competitive landscape of the digital world has pushed businesses around the world to be creative with their marketing approaches so they can be more visible. Digital marketing is one of these creative ways that has witnessed massive growth in popularity across the world. A Statista report suggests, in 2023, the spending on digital advertising is projected to reach US $681.39 bn across the globe. While by 2026, the same numbers are projected to touch a threshold of $876.1 bn globally.
The growing popularity of digital marketing also brings various new and evolving trends into existence. Some of these trends are focused on improving the effectiveness of digital marketing strategies while some are aimed at improving the quality of services companies provide to build a long-term reputation.
Whatever the reason is, furthermore, we are listing down some of the leading digital marketing trends for your reference that you should keep an eye out for in 2023. Tackling these digital marketing trends to leverage them for your requirements can reward your business with great benefits. So, without wasting more time, let’s have a look at these digital marketing trends that the whole digital world is looking forward to:
Metaverse’s announcement has opened new opportunities for the digital world. The technology provides many opportunities such as displaying digital billboards on the platform, building a virtual store, communicating with potential customers through VR, and more. Plenty of brands including Skechers, Havas Group, Heineken, HSBC, Adobe, and Wendy’s among others have already prepared a plan to leverage metaverse’s opportunities and onboarded the platform.
If you are not well introduced to the metaverse- the technology is a digital replica of the actual world where you can create your own 3D avatar to explore the world. Metaverse allows you to hang out with people, go on missions, play games, or just roam around. However, the technology is entirely based on AR and VR possibilities but the level of interest that businesses have shown in the technology makes it clear that the metaverse is about to become the new normal in the near future.
AI is gaining rapid momentum in early 2023. Tools like Chat GPT and Midjourney have gained huge popularity within a couple of months for the right reasons. Chat GPT has opened a gate for content creators and marketers to generate content within seconds. So, for digital marketers, it has become possible to generate content faster and target a wider audience with better quality content.
However, as AI is still not at its full potential, these tools are still at an evolving stage. But with a little bit of human contribution to finalize the content produced on AI, digital marketers are able to leverage the technology to fulfill their content requirements and generate bulk content faster.
Now, AI is not only helpful in generating content but to gather factual information such as customer insights, demand forecasts, price forecasts, etc. Additionally, digital marketers are using AI and machine learning to personalize targeted ads to display them to the right audience. All these opportunities are expected to grow further in 2023 in terms of popularity.
A Forbes report predicts that the concept of Gamification is expected to make a grand comeback in 2023. As games have become increasingly popular on smartphones since modern phones came into the origin, gamification has evolved in parallel as well. From using gamification to teaching students to integrate gamification into marketing activities, there have been continuously evolving gamification trends throughout the years.
Apps like CRED, Swiggy, Khan Academy, etc have adopted the concept of gamification for some time. However, CRED uses gamification to extend offers to its users on behalf of various brands. These offers could be cashback, discounts, or some points depending on what has been decided as the winning prize by CRED for game players.
Augmented Reality (AR) is the new hype in the marketing world as it provides marketers with endless possibilities. Features like try-on have made it easier to modernize product catalogs, especially for the clothing and furniture industries. Apps like Snapchat have leveraged AR to display product catalogs to their users on behalf of client brands. These catalogs were provided in the form of AR filters that users could use to try products before they would buy them.
Brands like IKEA and Pepperfry also started using AR to provide a realistic demonstration of their products like furniture, decor items, etc. Now, to have an insight into the popularity of AR technology for digital advertising, we can use a Statista report for reference. The report predicts that the AR advertising segment is projected to reach $4.30 bn by the end of 2023 and between 2023 to 2027, this advertising revenue is expected to grow with a CAGR of 11.80%.
A report by Forbes states that at least 41% of millennials and One in 2 Gen Zers are worried about the social responsibility of brands before they support them. These consumers want to support brands that have considered their social responsibilities in their business activities. So, that has motivated best digital marketing company to adopt business models that are more socially responsible whether in manufacturing and delivering the product or advertising it.
In-person events had become a thing of the past especially due to the Covid-19 pandemic. But now that the world is almost back on track, digital marketing experts are adopting in-person advertising techniques once again as well. These events include organizing a get-together for brand experts and potential customers where announcements are made regarding new products or services. Take Auto Expo 2023 for example. Even though digital channels like social media and websites are used to promote brands and products, Auto Expo had become a platform for brands like Maruti Suzuki, Mahindra, etc to announce some of their new range of vehicles in the Indian market.
Until now digital marketing trends have followed practices such as tracking the way potential users use the internet to personalize advertisements better. However, modern digital marketing trends might push the idea of customer privacy further and provide customers with the independence to choose whether they want their internet behavior to be tracked by advertisers or not. This may impact the personalization of advertisements but it will also provide users freedom from the anxiety that their usage behavior is being continuously tracked.
Wrapping up
The digital marketing industry in 2023 is also expected to witness impacts of technologies like 5G, Cryptocurrencies, NFTs, voice search technologies, and more. Not only that, but we will also see a boost of technologies like chatbots and virtual assistants becoming a new normal for the digital marketing industry.
Lastly, we hope that our take on possible digital marketing trends in 2023 had given you some amazing insights. These trends that we covered in this blog are based on what is going on in the global digital marketing industry. So, hopefully, you found the blog insightful and informative. You should also have a look into other informative blogs of CloudWays which will give you a deeper understanding of the evolving IT industry from across the world.
Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Expectations You should have from the Evolving Digital Marketing Trends in 2023