Top 7 Marketing Trends You Should Consider in 2023
BY: Lindsay Moura | 1/11/23
Are you working to finalize a marketing plan for this year? You may hear about all sorts of new channels, tactics and trends, but you might be wondering, what is actually going to be a good use of my time, budget, and resources? While there are a number of buzzwords, emerging channels, and unique techniques out there, we’ve weeded out the not-so-great ones and compiled the top 7 that are worth considering and could help drive very real success for your organization.
1. Contextual Targeting
Finding the right audience to serve your ads to is the key to effective marketing. The last thing you want is to serve your ad to someone who is completely uninterested and would never purchase your product or sign up for your service. This wastes your precious marketing dollars and gives a negative impression of your brand. However, as privacy policies and ad targeting capabilities evolve, so does the targeting. That’s why contextual targeting is thought to be the future.
Unlike behavioral targeting which relies on data collected on users and their browsing activities across websites, contextual does not use or collect cookies so it's safe amidst online privacy concerns, especially in the healthcare space. Instead, it uses information about the keywords and content of a particular website. This means the targeting is based on the context of the website where your ad appears rather than the user’s behaviors. For example, if a user is reading an article about fitness, they may see an ad for at-home gym equipment. The added benefit of contextual is that it’s served programmatically, allowing optimizations to be made in real-time, increasing the relevancy of your ads since you’re reaching people at the moment they’re in the market and highly likely to convert.
2. Native Ads
Native ads are a type of display ad meant to integrate seamlessly onto a website page. By design, they don’t feel as much like an ad to the end user and can have higher engagement than a typical display ad. Native ads can feel very much like editorial content, and according to our DSP (demand side platform) partner, StackAdapt, they can have a higher purchase intent at 18% and brand affinity at 9%, when compared to display ads. In a world that’s full of ads everywhere you go, native formats are a great way to reach your audience in a less intrusive way.
3. Reddit Ads
Social media and discussion forums are constantly evolving, and Reddit is a prime example. Due to ongoing turmoil with other channels like Facebook and Twitter, Reddit offers a unique opportunity for advertisers. There are a few things that set Reddit apart from other channels, such as its approach to identifying and eliminating bots or bad actors and moderating content to ensure it’s a brand safe environment.
Reddit also offers a unique audience that can’t be found on other channels. For example, according to Comscore, 30% of Reddit users don’t have a Facebook account. And because of the nature of Reddit, it consists of people looking to be informed and share valuable information with one another, therefore, making the path to conversion 9x faster with a 15% higher purchase value, according to Verto Analytics. Unlike Facebook and Instagram, Reddit users are far less likely to aimlessly scroll. They’re usually actively seeking information and want to engage with the community on a deeper level.
4. Digital Audio
While traditional radio ads have been around for a long time, the expansion into streaming audio is relatively new and the ad format options are expanding with it. While you can run a tried and true 15 to 30 second audio clip promoting your business, you can also have a corresponding display image that goes along with it. So, those users who are actively on their phones when they are served your ad can also click the visual display ad and visit your website to learn more. Like everything else with digital, you also have the option to target more intricately based on geographics, demographics, interests, and more. You can place your ads on apps like Spotify, Pandora, iHeart, as well as within podcasts, regardless of the streaming app used. We’ve found podcasts to be particularly effective for the B2B and financial sectors.
5. Digital Out of Home
Digital out-of-home (DOOH) is a lot like digital audio where it takes a once-traditional channel and turns it digital, giving you robust targeting options and in-depth reporting. Instead of a billboard or signage on the side of a city bus, you can now place digital versions in their place. This is just one simple example, but there are many other placement options such as in malls, gyms, office buildings, restaurants, and more. Unlike a traditional static billboard, you can go to market faster and easily change messaging or ad creative. This can be especially useful if you’re a bank or credit union promoting a rate, but that rate fluctuates as the market changes.
When a user visits your website and sees content that speaks directly to where they are in life, their challenges, or their needs, it can make a big difference in how long they stay and how engaged they are with you. This personalized experience can make a big difference in your customers’ experience with you, but it can take time and resources to implement it. At SilverTech, we recommend a crawl, walk, run approach, especially when it comes to building an effective personalization strategy. A simple place to start could be a personalized message on the landing page based on an ad a user clicked to get there.
What’s important to consider with personalization is that people’s needs change over time, and the way you set up your segments in the backend should be flexible and dynamic to accommodate for these changes. While someone may enter your site as one segment, they may come back later and be categorized differently.
Not sure how to implement personalization on your website? We partner with Progress Sitefinity to utilize first-party customer data that helps deliver highly personalized and effective digital experiences. Learn how we can work together to build a strategy specific to you and your customers.
7. Navigation Ads
The digital world is becoming increasingly more connected, even including cars, which have become widely considered the “third space” of marketing and one of the most underutilized channels. The average U.S. driver spends over 13 hours in the car per week. With 60% of the U.S. population driving a connected car in 2021 and an estimated 70% by 2025, marketers are presented with a unique opportunity to deliver your message to a captive audience. According to Waze, 90% of marketers reported in-car advertising was in some form effective to their overall efforts.
We’ve seen firsthand how this can be true. In November 2022, during a highly competitive ecommerce ad market, we generated over 750,000 Waze ad impressions for a credit union in Massachusetts. These ads received over 420 clicks at a 0.57% click-through rate and 142 navigations to a branch location as a result.
Didn’t see something on this list? These are just a few examples of emerging trends that have proven to be successful for businesses, but there are many more out there! And because every business is unique, we can work with you to find the right media mix. Learn more about our ad services and contact us today for a consultation.