The beginning of 2023 provided a fantastic opportunity to revamp your marketing strategy. It was a time to evaluate, focus, and set plans into motion. As the year ticks by, it’s essential to maintain this momentum, which is why staying informed about the latest developments is vital.

Our newsletter is dedicated to providing you with the most up-to-date and relevant marketing news and information to help you stay ahead of the game.

Marketing Budgets to Grow 20% Despite Recessionary Fears

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Many businesses are evaluating their budgets due to the current economic climate – but not in the way you might expect.

Research released by MarTech Series shows that 77% of CMOs will increase their marketing spend over the next 12 months, despite almost half (44%) expecting the possible recession to harm their business. 

The survey, conducted by ConsultMyApp, questioned 100 CMOs of businesses with over 250 employees. Whilst the study highlighted a shared fear surrounding the economic downturn, businesses are expected to continue to invest throughout 2023. 

 

Marketers’ Digital Platform Investment Plans for 2023

 

 

 

According to a report published by WARC, marketers have big plans for the upcoming year, namely in online video, social media, and gaming. These three channels are set to dominate marketing strategies as marketers pivot away from social media giants Twitter and Facebook. 

Indeed, 76% of the 1,700+ respondents said they expect to increase their investments in TikTok in 2023. The popularity of TikTok follows trends from 2022, where the unique video hosting service ranked highest as the platform marketers planned to increase their investments. Available in 150 countries and home to over one billion monthly users, it’s clear why marketers are heading in this direction. 

Twitch, a live streaming platform; Youtube; and Google are all seeing similar success. Over 50% of survey takers plan to increase investments in Twitch, and approximately 57% are looking to increase investments in Youtube.

However, the next year isn’t looking as bright for other platforms. Advertisers are leaving Twitter behind, with more respondents to the survey intending to decrease (28%) than increase (19%) their investment in the platform this year.

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Direct Mail Supports Offline Marketing Success

 

 

Direct mail can be used in conjunction with other forms of marketing for a multi-channel approach. It may sound outdated – especially compared to digital methods – but its efficacy has been proved repeatedly. 

The Data & Marketing Association (DMA) notes that 92% of direct mail recipients have been driven to online or digital activity, 87% have been influenced to make online purchases, and 54% have engaged in social media activity. As such, not only does direct mail culminate in a connection between the brand and the consumer, but it also opens the door to online engagement. 

What’s more, managing a direct mail campaign can build and shape an understanding of the strategy’s effectiveness. There are several ways to do this, including using QR codes or personalized URLs. Direct mail campaigns can be tailored to an audience by measuring key metrics, resulting in higher engagement and conversion rates.

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9 Marketing Trends to Watch as 2023 Tests Transformation Bets

 

 

The marketing landscape underwent significant changes in 2022 as some pandemic-driven trends turned out to be temporary and economic instability led to rapid shifts in digital strategies.

In 2023, the industry will be tested to see if the changes made during this period have lasting potential. For more information about the year’s trends, click here.