Digital Marketing.....?

 

Digital Marketing trends to power ahead in 2023

 

Digital Marketing has come a long way in the last decade. Taking shape after the development of computing and business intelligence systems, Digital Marketing has transformed how brands tell stories and talk to their audiences. It is now central to almost every brand's marketing mix and media plans.

Over the past two decades, starting with basic database marketing and display ads, Digital Marketing tactics have constantly evolved to keep pace with the overall digitisation that is pervading our lives. Professionals in the field must build in-demand skills and stay abreast of trends to leverage the domain's many lucrative career opportunities.

Among the various things that are shaping up in Digital Marketing, the following are likely to stand out in 2023:

1. ALL TALENT, INCLUDING CREATIVE, NEEDS TO BE DATA-DRIVEN

Since brands engage with their customers digitally, it generates plenty of data and with online activity set to increase significantly with 5G adoption, the internet will be flooded with multiple content formats and audiences, requiring qualified talent to analyze vast data sets.

Creative professionals who can also work with tools like Tableau and Google Analytics to understand this data are ideal candidates due to the growing importance of data-driven decisions in marketing. So, in addition to creating inventive campaigns, marketers should be able to utilize data to boost the campaigns' visibility and maximize reach.

2. AIML-POWERED PERSONALISATION

Personalisation in messaging isn't just limited to text anymore. Brands nowadays are leveraging technologies like Artificial Intelligence and Machine Learning to personalise their messaging, whether to pitch their products, offer festival greetings or drive engagement.

Cadbury, last Diwali, used generative AI technology to create customised advertisements that saw Shah Rukh Khan personally mention various store names in different versions of the same ad. And a few years ago, Barclays used personalised videos to welcome new customers, personally addressing them and using their names in the video elements.

Artificial intelligence and machine learning's next-generation prowess is letting brands do the unimaginable and tailor advertisements to call people by their names and more. Besides solidifying brand recall, such personalised videos make brands relatable and, when properly executed, show ingenuity, heart, and care on the brand's part, all of which connect with audiences everywhere.

3. MARKETING NEEDS TO BE SCREEN AGNOSTIC

Media planning still happens in silos to some extent with TV plans being made independently and a digital layer added on top – budgets permitting. These barriers are now breaking down and with the advancement in Digital Marketing technology, brands are able to drive more measurable business impact from TV campaigns.

For instance, the advent of technologies like ACR has made it possible to find out what percentage of a channel's audience has seen a particular TV ad. Brands can use this information to re-target these audiences through digital ads for driving purchases on their website/mobile app.

Customer journeys are always different and today, it is possible to target customers at different stages in the funnel with different ads – thus increasing the effectiveness and efficiency of marketing budgets. This trend will be critical to brands as they increasingly integrate their offline and online marketing strategies.

4. MARKETING IN THE METAVERSE

The metaverse holds so much potential for brands to explore. While brands entering the metaverse will be seen as early adopters due to the space's exclusivity and 'wow' factor, innovation will be crucial to brands standing out without coming off as aimless and being present just for the sake of it.

For instance, Nike's smash-hit virtual world, Nikeland, attracts millions of users to try out games while dressing their avatars in virtual Nike accessories, mirroring actual commerce. Elsewhere, Hyundai is looking to unite the metaverse and physical world so that users can meet and communicate with one another and experience Hyundai Motor's mobility offerings in the form of 'avatars'.

Brands with the right objectives and technological competencies will have a first-mover advantage and will be able to experiment in virtual worlds. They will also be capable of precisely monitoring newer customer preferences—how long users browse virtual products, their spending habits, or how people respond to advertisements.

Additionally, the metaverse will draw in plenty of content creators thanks to its engaging environment, opening the doors for brands to use influencer marketing in an entirely new way and communicate with newer audiences. We've only scratched the surface when it comes to the metaverse, with so many other use cases yet to be explored.

Digital Marketing is evolving rapidly with exciting new technologies, enabling better customer engagement opportunities for brands. Keeping an eye on trends is a good first step, but marketing professionals and students aiming to stand out should consciously invest in upskilling themselves regularly. Being able to evolve one's skill sets along with the changing Digital Marketing landscape is crucial to growing in this domain.