MARKETING PREDICTIONS

2023
After COVID-19, all that's old is new again. A lot has changed. This holiday season was probably the last
fiscal hurrah before an actual recession sets in. This will heavily change the buying and decision-making
process for most consumers.
Consumers want to buy from brands that give them a sense of belonging, take a stand on important
issues like climate change, or elevating one's sense of self. This calls for more authentic messaging and a
consumer-centric approach to business and products. For brands, connection is the new currency. But
how will AI have an impact on this?
In 2022, AI was used to personalize content and advertisements, analyze customer data, and automate
repetitive tasks. As AI continues to evolve, it will likely become even more integrated into the marketing
process, allowing for even more targeted and efficient campaigns.
In terms of the future of work, AI is expected to automate many tasks that are currently performed by
humans.
This could lead to job displacement in certain industries, but it could also lead to the creation of new jobs
in fields such as data analysis and AI development. Additionally, AI could also help to augment human
workers, making them more efficient and productive in their current roles, generating the need for
upskilling.
Overall, AI is likely to bring both challenges and opportunities to the marketing and work landscape, and
it will be important for businesses and individuals to adapt and stay informed in order to take advantage
of the benefits and mitigate the negative effects.

2. Looking at 2023

The biggest trend has been to find alternatives to data-driven strategies with the threat of a
cookie-less world. The threat isn't going away, and marketers will not only have to educate their
stakeholders even more, but they will also have to foster more creativity to connect with customers.
Artificial Intelligence (AI) is rapidly transforming the way businesses operate and how marketing activities
are being carried out.
In 2023, AI is expected to have a major impact on the future of work and marketing. AI can be used to
automate mundane tasks, analyze customer data, generate content ideas, and optimize campaigns for
better results.
We have already read, discussed about, and also tried our hands on ChatGPT- the new craze. And there is
absolutely nothing wrong with letting AI allow marketers to identify new trends quickly and respond
faster to changes in the market.

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Additionally, AI can be used to create personalized experiences for customers that are tailored to their
needs. As such, businesses will be able to increase customer engagement and loyalty in the future with
the help of AI technology.

In addition to this, focusing on building great experiences from end to end of the customer touch point
will be crucial. You might have a great product, but if the entire customer experience has not been
thought out—from awareness to sales to returns—you are creating an opportunity for a poor customer
experience.

3. Key Takeaways

TikTok enters B2B in full force and marketers should double down

Many organisations you would not expect to see on a platform like TikTok are smashing it. Companies like
Shopify and Grammarly have been around on TikTok. While Grammarly pokes fun at the challenges faced
in writing and editing essays, Shopify takes the consultative approach and shares business tips and
productivity tips.

It shows how different businesses and brands can define themselves, find a connection with their
audience, and create value for them using short-form video.

We will continue to see this growth of TikTok for brand marketers across the globe. However, the key is not
to rush to TikTok (or anywhere else) but to truly understand who your audience is, where they are, and
what they think and do when they are on the platform. Here, focus and segmentation are key.

        

 
 
             




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The Urgency for Product-led Strategy

In 2023, the most reliable growth mechanism is your product. If you are able to make your product do
the talking and become the primary driver of its own growth, you've won half the battle.
A good product-led growth strategy helps businesses in building winning product experiences. We are all
familiar with Zoom and its multi-faceted success, but we often overlook the intelligent application of
product-led strategy.
The success of Zoom is a masterclass in product-led growth. Zoom has successfully accommodated all
three key elements of a product-led strategy—the market for the product and specific needs it will address
the product's unique selling proposition or key differentiators and the company's business goals for the
product.
If you are not actively considering how to minimise friction at each customer interaction, maximise
product adoption by making it easier for users to adopt, and drive customer loyalty and advocacy through
your product, it is time to be highly concerned about your product-led competitors.
In addition to Zoom, companies like Slack and Figma have been successful in creating the stickiest
products in the market by establishing a product-led strategy.

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A blended product-led and high touch Salesforce model will work for most existing businesses to
drive more predictable and scalable new customer growth. As your understanding of product-led
growth matures, the data and insight you capture can likely make you both more competitive and drive
down your COGS.

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The process of building a recognisable identity for a product, service, or company is not as self-absorbed
as businesses and marketers think. The goal of branding is to make consumers feel an emotional
connection with the brand.
It all comes down to creating awareness among your audience.
According to a Nielsen Report, awareness is the most critical element for brand building. Compared to
conversion-oriented marketing, brand building is a slower yet more meaningful method to generate tangi-
ble returns.
The report proves this point by demonstrating how a 1-point increase in brand metrics like
consideration and awareness drives a 1% increase in sales. Moreover, increasing consideration and
awareness by 1% can also decrease short-term cost per acquisition by 1%.
Although it is easier to ignore a single per cent as minor, a 1% return on $1 billion in sales is equal to $10
million, which is in no way insignificant.

 

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Focus on high-touch point customer experience:

Customers will most likely be facing tight budgets, so keeping them satisfied and loyal will be key. The last
few years have been full of disruption, companies and customers alike will be looking for stability and
trust.

Focusing on building great experiences from end to end of the customer touchpoint will be crucial.
You might have a great product, but if the entire customer experience has not been thought
out - from awareness to sales to returns - you are creating an opportunity for a poor customer
experience.

To do this, start with a clear mission and think seriously about the experience you want to create. Success
comes from uncovering powerful stories and telling them eloquently.





 

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4. Future of Marketing

ChatGPT (The Rise of AI & Assistive Tools in the future)

In the film, Hidden Figures, a group of women manually do scientific and mathematical calculations by
hand to send a person to the moon. In the film, the organisation brings in this huge IBM-made computer
the size of a room, and their jobs are gone. One of the African-American characters goes to a library,
borrows a book, teaches herself how to program and then teaches all of her colleagues. Because of her
drive to learn, upskill, and share that knowledge, everybody has jobs in the end.
It makes you think—where do we as humans provide analytical, strategic value? Can Chat GPT come
up with a new brand voice and approach? So the tools are providing us with assistance, but we're
still laying the groundwork and providing additional value.
It's an opportunity to propel our skill sets and see how we adapt and evolve.

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Consumer-centric Content Marketing

Brands must provide high-value information, answer consumer questions, and guide them toward
making the best purchase decision. It helps brands move beyond transactional messaging and tell a
story.
Brands like Apple and Nike have been creating highly effective consumer-centric content for many years
now.
If your content shows that you have a thorough understanding of your audience, it can help you
develop stronger relationships with them. Always begin with the outcomes they value as human
beings—emotionally, socially, and practically. Then, centre your remarks on needs that your
offerings can meet.

Types of Content

Video Written Visual Audio

Content Content Content Content

64% 61% 56% 38%

of marketers are creat- of marketers are of marketers are creat- of marketers are creat-
ing more webinars, creating more blogs, ing more infographics, ing more podcasts,
live streaming, videos, eBooks, articles, etc. photos, charts, etc. audiobooks, etc.
etc.
In 2023, marketers will focus on creating content that is visual, interac-
tive, emotive, and outcome-based.

source: Content Marketing Institute

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Authentic Content
Finding the right ebook, social sharing platform, success stories, or influencers helps brands engage and
bond with their target consumers by relating to their real lives. But this approach will be more successful
if this branded content is more organic and authentic.
The need for authenticity in brand stories is all the more important today—given how diligent
consumers are about the need for real-life brands to reflect their own personal brand and values.
Authentic content, when presented consistently, helps brands create die-hard brand loyalists while
establishing the brand's purpose.
When content is supported by real consumer voices, brands, and audiences enjoy more authentic and
lasting interactions.

Will Influencer Marketing Be a Game Changer?

The possibility to increase influencer-focused activities exists despite the downward trend in social
advertising, according to marketers, who point to increased attention on social media (63% more time
spent there), rising awareness, and favorable perceptions of influencers.

Brands who feel at ease working with influencers ought to:

Consider it a chance to strengthen your long-term brand messaging.

Create a growth strategy based on your influencers and brand position.

Try out influencers as a channel - Instead of just pushing material into a specific channel, collaborate
closely with your influencers to create a content plan (for example, TikTok or Instagram)

Spend an additional 5% of your media budget on influencers, and increase the number of trials you run.

New to influencer marketing for brands? Consider these suggestions:

It will take time to understand how it might affect your activity, so use the money and time you have to
develop your knowledge.

Sync your influencers' category and domain expertise

The key will be using traditional marketing techniques to promote the work of your influencers.

You must look for or make opportunities to share your brand's values with your influencers directly
and indirectly. 2023 can be seen as the watershed year for influencer marketing. There is a
possibility that influencer marketing will become larger than advertising in the next 10 years.

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The decade of product-led community is on us

Product-led communities are a business already; they're created as organisations with a purpose and
culture. These communities also happen to be one of the most effective forms of marketing and help
businesses achieve their goals. Therefore, product-led community managers approach community
building with strategies to build this synergy.
In 2023, businesses will have to focus on building a product-led community that advocates for their
brand and interacts with other community members.
Companies need to sustain deep, focused relationships with their target group of customers now
more than ever.

Online spaces become the future of work & business

In this era of remote work, we are in dire need of more authentic online spaces to find work, have relevant
conversations, build professional networks and create a community.
An online community for finding work is not only beneficial for individual professionals. It also helps
brands and businesses access a global network of like-minded people. Individuals and organisations from
various fields can come together, collaborate, and share knowledge with each other.
A good online community for finding meaningful work helps individuals:
Meet, grow, and learn from a like-minded, close-knit community of global independent
professionals with a collaborative mindset.
Build their brand and reputation as a global independent professional.
Participate in exclusive talks, events, learning sessions, and masterclasses for the community and
learn from experts across the globe.

The future of work is collaborative and online communities are building blocks for it. Wizly is one such
organization that helps companies solve crucial problems by enabling them to find, connect and engage
with an invite-only global community of leading independent professionals on a unified platform. Wizly
truly is an embodiment of the future of work giving companies access to hire, learn and work with a global
pool of high-skilled talent for business growth.


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 Email delivers $44 ROI 92%
the highest ROI for every $1 spent
on email marketing
of online adult
use email

for marketers Source: Source:

Campiagn Monitor Pew Research

40X
more effective at acquiring new
customers than social media

Source:
McKinsey

Source: McKinsey

A fun fact to take into consideration

Email has been the highest ROI digital marketing channel for 34 years in a row.

When all is said and done, your playbook should also tell you which trends are worth adopting and which
aren't a good fit for your business.

In the end, picking the right trends is all about remaining flexible and being willing to change as the indus-
try shifts around you.
Picking "winners" on the basis of current popularity or the buzz surrounding them can be just as
dangerous as throwing out a lot of ideas and seeing what sticks.
In both cases, you risk developing a poor product that won't necessarily be relevant to your audience in a
few years.
So be sure to ask yourself what your customers want and how these trends can benefit them—not how
they might reflect on you. The more you prepare, the better off your marketing efforts will be.

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5. Final Thoughts

Innovation moves fast and is often unpredictable. But that doesn't mean you can't create a strategy to
help keep up with changing trends in the industry.
To assess each of the above trends, ask yourself these questions:

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