Marketing Predictions 2023

Adam Brassington - Head of Digital Marketing

With the economic hardship tightening its grip in 2023, lots of brands will be wrestling with the decision about whether to cut their marketing budgets, especially brand building activity. Ultimately the decision depends on the context of your given market/category, but there’s a large body of research which suggests brands who maintain their marketing spend typically fare better than firms who cut their marketing investment during recessions. If you can keep your nerve - and not view marketing as discretionary - then your brand will emerge in a far stronger position. However, this will mean there’ll be an even greater focus on ROI; marketing will need to “wash its face” more than ever and marketers will need robust attribution models to be able to justify continued investment. 

Customers facing up to the realities of the cost-of-living crisis will be forced to make tough choices. As during the pandemic, customers will need more help and support - digital self-service will again be key to supporting customers and managing operational volumes. Companies who have invested in the technology and operations to better serve customers digitally, learning the lessons from covid, will be far better placed to support their customers.

I also believe that purpose-led marketing will come to the fore - brands with purposes that are rooted in customer need will thrive – those who live & breathe their purpose - whereas brands who have jumped on the bandwagon with wishy-washy purpose statements will start to feel irrelevant and struggle to truly resonate with customers. It will be the day of judgement for purpose-led marketing!

Gill Marcucci, Freelance Social Media & Marketing Manager

2022 was full of so much hope. Tiers, bubbles and all the covid vernacular we’d created since March 2020 could return to its original meaning…

...and then Putin and his illegal war came along, triggering a humanitarian crisis and a mass migration Europe hasn’t witnessed since WWII. Sharp oil and gas price rises followed. If that wasn’t enough, political instability in the UK saw not one, or two, but three PMs pass through the door of Number 10.

The toll on business over the past 3 years has been immense. Budgets are being slashed and the marketing department is often first to face the chopping block. So, what does this mean for marketing trends, more specifically social media, in 2023? Well, no surprise, the highest quality content offering the most value for the target audience will gain the most attention. The key word here is value, and a lot of businesses shy away from offering anything of any value for ‘free’. But this is where those that do give away perceived value sow the seeds of vital two-way relationships. Social is not a one-way broadcast channel. Engaging in two-way conversations continues to be critical, listening to your audience, and acting on what they tell you. Despite talking the talk, a lot of companies still do not listen and respond to what their audience is saying.

Secondly, the environment matters. Consumers live in a world full of information where they know their actions have consequences. Ways to make busy lives easier to live sustainably are popular. But using the latest buzzwords; being ‘green’ or ‘sustainable’ mean diddly squat. Brands need to ethical, honest, and fully transparent, aligning their values with those of their audience. Doing as opposed to saying and leading by example are the best ways to approach any kind of ESG (Environmental, Social and Governance) policy.

Every brand needs to be reminded now and then that on social you must, first and foremost, be sociable.