The past year saw marketing spending return to near pre-pandemic levels as consumers regained confidence. But the landscape remains complex, ever-changing, and competitive. So, what can help you rise above the noise? Here are three considerations to include while planning out your 2023 attack.
Video isn’t going anywhere (but up)
If it seems like video has shown up on recommendation lists for the past several years…that’s because it has. And 2023 is no exception. In fact, video continues to grow at an impressive clip. According to HubSpot, people are now watching almost double the amount of online video compared to 2018. This year, YouTube TV announced it hit 5 million subscribers. Mobile-friendly video in particular remains king. The explosive growth of TikTok is evidence, along with other channels experimenting with and prioritizing their own iterations, including Instagram Reels and the new YouTube Shorts. Beyond creating brand videos to engage with customers directly on these channels, increased video engagement offers additional advertising options such as pre-roll ads and video sponsorships.
Video doesn’t have to be extremely highly produced to perform well, either. Content that is authentic and emotive lands best with today’s audiences. Many companies strive for a mix of one or two strongly produced tentpole pieces, and complement that with shorter, more informal videos.
Button up your privacy
You’ve probably noticed an increase in the number and prominence of website popups urging you to accept cookies before engaging with the site. Many of these sites are getting ahead of the California Privacy Rights Act, which was approved in 2020 and will take effect January 1, 2023. The act states that California residents have the right to know who is collecting their information, as well as how it is used or disclosed. Several states are following suit with other privacy laws underway. The European Union has also had stronger data collection and tracking regulations in place for the last few years.
In addition, Google has announced the phasing out of third-party cookies in Chrome in 2024 (Safari already automatically blocks third-party cookies by default). While this will not end marketers’ ability to track and retarget users, it means that obtaining their consent will be of utmost importance. These changes also increase the value of capturing user data directly, such as through forms or email signups.
Regardless of how regulations shift, it has always been true that consumers want to feel that they can trust the businesses and organizations they engage with. Assure them you take their privacy seriously in 2023 and beyond.
Diversify your channels — but focus on quality
Many are watching closely over the coming weeks to see how Twitter’s current turmoil will affect its viability as an advertising platform. But it isn’t the only channel to keep an eye on for future growth or decline. While Facebook’s usership remains high, it saw a drop in “active” daily users across early 2022. And while TikTok is no longer “emerging,” the app is still exploring its place when it comes to advertising potential.
Beyond social, there’s no shortage of ways to reach a consumer: Email marketing, SEM, podcasts, native headlines, digital display. The list goes on and on (and that’s not even including traditional media). Every channel doesn’t work for every advertiser, but there’s value in trying something new. Most important is to identify where you will best meet your target audience and be able to adjust as they shift along with the changing platforms.
With these continuously crowded advertising channels, it is imperative to understand your customer and heed the data surrounding your campaigns and online presence. But all of that takes time and effort, which means that it is crucial to focus on quality, spending the time to understand what works and refining your tactics. Spending the time (and money) on thoughtful content and placement will land better with today’s ever-keener consumer, who often knows how to spot when they are being advertised to — but don’t mind so long as it is relevant and interesting.
Try as we might, we can’t predict what is to come in the year ahead. But whatever 2023 throws at us, it will be vital to pay attention, think strategically, and work closely with partners you trust.