The digital market is constantly evolving with consumer demands changing all the time. The technologies we use to meet those demands get more efficient and creative as time goes on, and we’re expecting to see a drastic shift in the way we appeal to our audiences in 2023 and beyond. So here are some of the biggest digital marketing trends we can expect to see in the coming years.
Modelled conversion data
One of the issues that digital marketers face is a lack of complete data to use for reporting and making smarter advertising decisions. Conversion data is a particularly difficult area to track correctly, yet it’s also one of the most important sets of data that you can rely on for consistent business growth.
When someone is converted from a site visitor to a paying customer, it’s helpful to know what contributed to said conversion. It could be an advertisement on a website, a social media post, or even a video advert that played on YouTube. We also need to know what advert converted them or which social media post. The more detailed this information is, the better we can evaluate our digital marketing efforts to see what the most effective way to convert viewers is.
A cookieless future
However, most companies don’t really need to know all of these individual bits of data. In many cases, advertisers are starting to over-target individuals. The data can also be too much to process and most of it can often be seen as useless or unnecessary. For example, a marketer doesn’t need to know detailed information about an individual that purchased something. It might help to target future audiences. The more important metric here is what ad they were exposed to during their sales journey. Similarly, a marketer doesn’t need to know who installed their apps. They don’t need to know specific information about the person, but they do want to know what adverts convinced them to download their app.
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How modelled conversion data helps
This is where modelled conversion data comes in handy. Many of the biggest tech companies such as Apple and Google already have a lot of data on their customers that can be used to fill in knowledge gaps and also improve the optimisation of data sets. In the case of Meta’s modelling conversion data, the company plans to use their services to help fill in missing or partial data and offer model reporting for distributing reported conversions. These models are also validated on truth data to improve their quality and overall completeness. This data is constantly validated and calibrated to fit their models, leading to more complete conversion reporting for advertisers.
However, modelling solutions aren’t perfect as they are essentially guessing data to fill in gaps and predict certain outcomes. However, with Meta’s wealth of data and ever-improving algorithms, we expect that modelled conversion data can be an inexpensive and practical solution for helping companies understand where conversions come from based on impartial or little data. This will be a great help in the coming years as we switch away from individual identifiers such as cookies in order to provide more security and peace of mind to site visitors.
Influencer marketing shows no signs of slowing down
In 2015, influencer marketing was seen as an expensive and unpredictable method of digital marketing that was extremely risky. However, a lot has changed since those early days and we’re starting to see continued growth in this sector. It’s predicted that influencer marketing will continue to grow in 2023 and beyond, but with newer and more efficient technologies and models to assist in targeting the right audiences. Here are some of the expected changes in influencer marketing that we should see in the coming years.
Local influencer marketing
Now that the COVID-19 pandemic has begun to subside, more and more people are returning to local stores instead of relying on just the internet for their shopping. As such, we can expect more influencers to appear in local advertising in addition to online campaigns. Adopting a hybrid influencer marketing model like this may not seem effective or worth the cost right now, but as we start to return to normalcy we can expect more influencer campaigns to appear in stores to advertise goods and represent brands.
Everyone’s an influencer
Right now, social media is the main driving force behind influencer marketing. Today, the bulk of influencer marketing involves using social media influencers to help spread a brand’s presence across various channels. However, companies are starting to realise that anyone can be an influencer if they are given a voice. One good example of this is LinkedIn posts where employees talk about their work experiences at a company. In this situation, those employees are effectively influencers that are trying to draw potential recruits to a company. Similarly, someone that posts a review of a store is also acting as an influencer whenever someone reads the review on Google.
People are starting to realise that influencers don’t always have to be truthful about their preferences. They can be paid by a company to advertise a product, but it doesn’t mean that the product is used by them on a regular basis. So when positive reviews and comments come from regular customers of a store, they will seem more genuine and provide more conversion power for a brand.
The end of amateur influencers
Even today, many influencers can be given a pass if they make a mistake. If they say something negative on social media, it can often be brushed off as the influencer not being a professional, hence the tendency to make mistakes. However, influencer marketing is starting to shed the layer of amateurism that has caused many problems for brands in the past. In the future, we can expect that all influencers will be more professionals in their own regards. Whether it’s competency in dealing with partnerships and sponsorship deals or even the quality of the content they create to attract audiences, we can expect that influencers of the future will be far more educated and knowledgeable about digital marketing.
Marketing automation in 2023
Automation has long been an important tool for marketers. With upcoming advancements to marketing automation technology in 2023, we can expect more companies to take full advantage of trends such as machine learning and AI to deal with industry-specific automation challenges. In fact, the global marketing automation market is set to reach an astonishing $14,180.6 million in 2023 at a CAGR of 12.3% from 2020 to 2030. Here are some of the biggest marketing automation trends that we’ll see in 2023 and beyond.
Automated social media
Datareportal reports that there are currently 4.62 billion people using social media that spend an average of two hours and 27 minutes on various social media platforms. These numbers are expected to rise as access to mobile devices and internet connectivity increases over time. But as more social media platforms are introduced to the world, we’re starting to see the user base become fragmented. While it was possible in the past to rely on just the major platforms such as Facebook, Twitter and Instagram, we’re starting to see new players such as TikTok and LinkedIn grow to a point digital marketers can no longer avoid them.
As such, companies will need to start using multiple social media channels in order to reach a wider audience. But doing so would normally require the use of multiple social media managers, especially if there are a high number of interactions. Even today, some social media accounts (especially brand Twitter accounts) are managed by multiple customer service representatives because it’s used as a support channel as well.
So in order to manage the many different social media channels a company will, they need to introduce more automation. Currently, automation tools mainly consist of scheduling services to make automatic posts, an example of this is push.property a social media automation tool for estate agents. Also automated data collection to build reports on how well each social media platform is performing. But in the future, we can expect machine learning to play a bigger role in automated social media. This could lead to AI-powered content to help engage audiences, automated customer support systems that operate through messaging systems on these platforms, or even automated tools that gather data from multiple social media platforms to compile marketing reports.
Machine learning applications
Automated social media is just one form of machine learning that can be applied to modern digital marketing strategies, but there are a plethora of creative uses for the technology and we’re only just scratching the surface.
For example, machine learning is starting to see use in content marketing. While it’s not quite powerful enough to create full pieces of content that can convert viewers into customers, it can do a great job at outlining future content that a company should focus on. For example, it can be used to generate blog article topics and news article ideas, and even scrape together the most popular SEO content into a content idea that has a statistically high chance of converting users.
In the future, we can expect that this technology may grow to encompass full content generation. However, this will require a lot more time as machine learning algorithms improve. In the future, we could see companies generate effective search engine optimization content at the push of a button that is tailored around their customers and built using analytics generated by the company itself.
The growing trend of chatbots
Chatbots have become more powerful than ever before thanks to the use of AI-powered technologies and machine learning. Currently, it’s estimated that chatbots can handle up to 68.9% of chats from start to finish with no user interaction needed. This is a massive time saver for companies that are looking to automate certain processes, such as providing customer support and dealing with common sales queries.
These chatbots have become an integral part of the customer sales journey. They’re a quick and easy way for people to ask questions about a product and can be used to deal with returns or shipping queries. As these chatbots improve in functionality and accuracy, they could even be used to suggest products and services to customers, or even be used to make complete sales without human interaction.
These chatbots can also be incorporated in different ways. We expect that future chatbots can simplify a customer’s sales journey to look something like this:
- A customer sees a product on social media.
- They open the tweet, post, or message to learn more about it.
- They’re shown a variety of content such as reviews from influencers, videos, and product images.
- They can message the brand’s social media account and ask questions about the product or service.
- They’ll receive an automated response and be offered the option to make a purchase.
- Using payment information that is attached to the user’s social media account, the chatbot will process the order safely and securely.
- The customer will have made an order without ever needing to leave their social media app.
This streamlined sales process will become exceedingly popular in the future, and much of it will be powered by a mix of AI technology, machine learning, and chatbots.
Technological improvements happen all the time and businesses need to start making good use of them in order to stay ahead of the curve and meet customer demands. Want to learn more about future digital marketing trends and how they can be applied to your business? Get in touch with Distribute Digital today to learn more.