The Future of Marketing: Our Predictions for 2023
Marketing is constantly evolving. 2022 saw some major trends in the form of video marketing (especially on social media), niche marketing, marketing automation and more.
So what can we expect for 2023 and beyond? Here we bring you our top predictions!
Artificial intelligence and machine learning have been here for a few years now and are revolutionizing the marketing space by providing marketers and business owners with real-time insights to enhance customer support, optimize product line pricing strategy and so much more.
The AI-first approach to marketing in the future includes using chatbots to simulate a conversation with a customer.
While there are some brick-and-mortar stores that use chatbots, we are certain to see them become regularly used in both online and offline stores to effectively advertise products or services.
It appears that chatbots will lead the way in the future of marketing, according to Forbes Magazine reviews. In fact, the market value of AI, which was $93.53 billion USD in 2021, is expected to hit $190.61 billion in 2025.
Customer service experiences will improve using voice-activated chatbots, as will keyboard interactions that are used to promote a product.
They will be used not only to relay product information but to also assist a customer with a sale. Customer service isn't the only future business trend used to promote a product brand.
The AI first approach will also be used to help track views and sales by use of improved analytics. Additionally, analytics can be effective in tracking marketing trends which can be difficult with offline advertising unless you partner with services like Oppizi.
A Rise in Voice Marketing
The arrival of voice assistants is certainly enticing users to opt for voice search over its counterparts.
Users have started considering voice assistants as good friends that are gradually becoming part and parcel of their daily lives. Yes, who would not grow fond of a constant companion who can listen and seamlessly cater to their needs?
So, voice-enabled technology opens up fresh opportunities in the marketing sector while paving the way for contextual interactions with users.
Voice-assisted marketing enables the consumer to enjoy a more personal shopping experience. Voice marketing will take place with or without the use of a screen on a mobile phone, tablet, laptop, or desktop computer.
Voice advertising is expected to soar in the coming years.
The future of marketing will be more innovative and inviting than in prior years with the use of voice-activated devices such as Alexa, Google Assist, and Siri. With the use of smart speakers, a customer can easily explore a product from anywhere in the home.
As voice technology emerges as a method of marketing, radio, television, podcasts, and video advertising can be employed as an efficient way to shop.
ffline marketing techniques using pamphlets, newsletters, store signs, and newspaper advertisements may struggle to keep up with more innovative advertising methods.
The Impact of Virtual Reality
Getting closer to potential customers is the key to convincing them into buying your product or service.
While businesses are looking forward to innovative tools to offer a personalized customer experience, virtual reality is capable of creating a massive impact every step of the way. After all, it makes way for businesses to appeal to the emotional side of their target audiences, thereby boosting brand loyalty and significantly improving customer lifetime value.
More personal than ever before, virtual reality comes out ahead every time.
By the year 2025, virtual reality will take the lead in marketing trends. Customers will enjoy the amazing emotional experience as they shop for product brands with colourful, engaging advertising.
They will come back time and time again, increasing their loyalty to a brand, possibly even more than chatbots.
Virtual reality marketing strategies will set the course of future marketing trends and sales will soar. Motor vehicle and smartphone manufacturers are already exploring ways to use virtual reality as part of their marketing strategies.
Let’s consider two instances, A and B.
While A showcases a brand disclosing how its products can benefit its potential customers, B showcases an existing customer explaining their personal experience with a brand.
So, which one do you guess will have more impact? Yes, the first-hand experience of the existing customer does work better mainly because the content is generated directly by the user.
User-generated content will become part of a marketing strategy by the year 2025.
s a way to advertise brand products, and new projects and services, customer reviews on a website landing page will be used in blogs and websites as a way to increase sales.
Bloggers only have to add a link to a business website within the body of their blog and a customer can easily click on it to visit the website.
The more visits a business’ website receives, the better chances they have of making a sale. Social media sites will also generate ads for products, further boosting sales for a business.
Word of mouth on social media sites is already boosting sales for businesses. Future trends in marketing using this method of online advertising are certain to become even more popular.
Social Channels Will be the New Internet
Marketing is about finding places where potential customers are clustered and running targeted promotional campaigns there. From this standpoint, social media can be an ideal spot for business promotions.
As of 2022, there are about 4.59 billion social media users across the globe and this count is likely to increase every year.
Some of the newest trends in marketing include advertising using social channels. Social channels will also become an increasingly popular method of advertisement in the future.
Social channels include interactive voice-controlled ads that the consumer can control with the click of a button or even their voice.
YouTube, TikTok and various types of videos, podcasts, and popular social media site advertising will boost sales.
When a product is advertised in any of the above ways, customer views will increase. Marketing a brand's product will be much easier because the customers will raise awareness of the product or service.
In order for offline advertising to survive the future of marketing, marketers will have to think of ways to creatively interact with a customer.
We are certain to see a rise in the use of chatbots, social channels, and virtual reality marketing techniques by 2025. Future business trends project that these techniques will boost sales. They will be verbally engaging and more interactive with the customer.
They will be more personable, communicating with customers by use of voice-activated technology, which will make them so popular.
If a customer has a question about a project, a chatbot or voice-activated device will gladly help them. The new marketing trends will set the stage for customer-based marketing with customer reviews and social media strategies to promote a brand product, project, or service.
Contact EWM to discover our innovative approach to digital marketing.