Marketing Trends to Watch For in 2023
As another year draws to a close, it’s a good time to take stock of the current state of marketing as well as look ahead to the trends of the coming year. Luckily, HubSpot has done a lot of the legwork for us with their in-depth State of Inbound Marketing Trends report.
Social media remains the top marketing channel for the second year in a row, and within that channel, influencer marketing is the top trend marketers leveraged this year. Rounding out the top five trends – after influencer marketing – are short-form video content, mobile-friendly web designs, virtual events, and experiential marketing.
The influencer marketing business shows no signs of slowing down next year. In fact, the influencer industry reached $16 billion in 2022, a growth experts attribute in part to the increasing popularity of short-form video content on TikTok, Facebook, and YouTube. Instagram is the preferred platform for influencer marketing campaigns, even though this year’s data shows Facebook has the highest number of monthly users (2.9 million) followed by YouTube (2.5 million). Despite lower user numbers, Instagram is a viable source of new leads for marketers, with the vast majority of Instagram users turning to the service to find new products.
Video remains the top media format for marketers for the 3rd year in a row with TikTok and Instagram Reels showing the most rapid growth. According to HubSpot’s report, short-form video content is the most engaging and has the highest ROI compared to other formats. So it makes sense that marketers are increasing their investments in short-form video as well as live streaming.
The Year Ahead
So what does all this mean for marketing in the coming year? With influencer marketing predicted to grow, it’s worthwhile to look into partnerships with on-brand content creators. (According to HubSpot, 88% of brands have a dedicated influencer marketing budget spending anywhere from $50k to $500k).
And since short-form video has proved to be the most promising format for content creation, it behooves marketers to continue investing in this space. “The great shift to short-form video is in full swing,” says social media professor Crystal King. “The platforms are increasingly placing priority on highlighting short-form video in their algorithms, and if you aren’t already exploring the use of this medium, now is the time to start.”
The Bottom Line
At the end of the day, the metrics that matter most are your own. Make sure you’re continually testing and optimizing your marketing strategy to reach your customers where they are, whether that’s via the top trends of influencer marketing and short-form video or through email campaigns and other programs.
If you’re ready to kick your marketing game into high gear in 2023, reach out to the pros at Morris Creative Group. Our team is eager to help you achieve your business goals.