2022, like recent years, saw a plethora of changes in the marketing realm. However, they were unique changes that have valuable lessons to take away as we move into 2023.
Let’s take a look at what we learned…
Measure for Success
Measurement, KPIs, OKRs, performance tracking – whatever term you use, it’s critical to track, test, and measure your efforts.
Marketing strategies follow suit in our fast-paced world, where technology is constantly evolving. Trends and fads seem to disappear as quickly as they arrive. As a business leader, how do you stay in tune with consumer preferences, and what marketing tactics are reaching your audience?
The key is measurement.
In a world where digital marketing tends to be the primary marketing methodology, everything is measurable. However, there are many effective ways to measure other marketing efforts as well (campaigns, advertising, public relations, etc.). Testing and measuring performance are how you identify what is working for your business. It’s critical to know what part of your strategy (campaign or channel/tool) is working in real-time, so you can adjust and overall make the best future plans possible.
Don’t Drop the Ball with Planning
So, we mentioned how measurement is crucial to your plan. Why talk about planning? Because while it may be hard to believe, many companies skip this process. Instead, they jump into execution – running campaigns, setting budgets, etc. without a clear direction or goals in mind. This results in poor-quality content and poor ROI (return on investment) for their efforts, and a wasted or undercapitalized budget.
We say all this to emphasize the necessity of producing a marketing plan well in advance. If you don’t have a plan for 2023 yet – start now. It’s better to be a little late than not have one at all. Next year, aim to have your 2024 plan in place by October, using everything you learn from testing and measuring in 2023 to inform those plans.
Video, Video, Video
We would be remiss not to address the rise of video content in social media. Every social media app is either video-based or has implemented video into its core content.
And rightfully so!
Users would much rather watch a video about a subject than read an article. Not to mention video users retain up to 90% of the information. This is why YouTube is the second largest search engine in the world, after Google and why platforms such as TikTok have seen exponential growth over the past year. Social algorithms currently favor video content, which is why you notice more and more of it on Facebook and Instagram.
Video content is a way to captivate your potential customers and draw them into your business. If you want to grow your brand, video content is a must in 2023.
Staying on top of marketing trends and best practices can be overwhelming, especially while also trying to run a business or organization. If you’d like to discuss these concepts more or are looking for some help, contact us. We’d be happy to help.
Read our latest eBook that discusses what you can expect in marketing in 2023!