Growth Marketing Predictions for 2023
As we wrap up 2022, businesses everywhere are already planning their marketing budgets for 2023. From more time across social media, investing in website performance and nurturing customer relationships, brands are considering where to best spend their budgets to maximise their return on investments and continue to grow as a business.
Here at Advocitude, we like to keep our fingers on the marketing pulse for B2B businesses, so we’ve put together some of our top predictions for growth marketing in 2023.
1. Brands Will Continue To Invest In Advocacy
For businesses that have already discovered the power of brand advocacy, we predict they’ll be reinvesting in this powerful customer retention and lead generation approach. For brands that are yet to discover the potential that investing in customer advocacy can have, it will be a year of discovery!
Advocacy focuses on the existing customer base and looks to nurture the relationships between brands and their consumers by solving problems, responding to queries and improving the overall customer experience. The key to providing good customer experience is to continue optimising how your brand reaches customers with good, engaging content, whether on your website, social media or elsewhere.
With customer loyalty becoming even more of a focus for 2023, advocacy will remain a key topic for brands, so watch this space.
2. Artificial Intelligence Will Continue to Intrigue
2022 has seen a boom of interest in artificial intelligence, or AI, as brands look to streamline their marketing processes and communications. From automated chatbots, response emails and even web content being written by emerging open AI technology ChatGPT, artificial intelligence is only going to grow as an alternative option in 2023.
Whether you’re a sceptic of this technology and prefer human interaction, or feel this is the way much of marketing communications are going to go, it’s an interesting debate that continues to roll through the marketing world.
There’s no denying the success many brands have used AI for customer service responses but these are often limited if issues aren’t resolved. With more technology coming into the space, 2023 looks set to be a rather interesting one for brands experimenting with AI.
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3. Brands Will Be Refining Their Growth Marketing Strategies
As growth marketing is a long-term strategy, it creates space for brands to re-evaluate and refine their approaches to help improve the strategy. Using the right marketing analytics tools to spot new opportunities, create goals and track progress are all ways brands can refine and improve their growth strategies for 2023.
Businesses that review their own growth strategy are more likely to see growth and success over the next 12 months.
We expect to see businesses looking to refine their strategies and focus on some of the key features we’ve outlined like customer advocacy, optimising websites and sharpening their social media presence.
4. Communities Will Continue To Thrive
As customers increasingly become the centre of every brand’s marketing circle, more businesses will turn to their own community of loyal customers and work out ways to nurture their relationships. Creating a space for a community comes under the wider growth marketing strategy that looks at keeping costs down and customer retention up.
Communities are an excellent way to dedicate more content, services or specialist products with customers who will naturally become loyal advocates for the brand. Those businesses who are already reaping the benefits of having a community know the power it holds, those who don’t will soon discover it!
We predict community will continue to thrive and become more of a prominent feature for B2B businesses that are looking to address customer acquisition and retention.
For a business to get the most out of its marketing activities, they don’t need to reinvent the wheel— but adopt the new one (Flywheel) that puts customers at the centre of all marketing efforts. Whilst there will also be some other emerging trends throughout 2023, we feel the brands that focus on their customers and building more of a community, will reap the benefits faster.
I help fin-tech digital product teams to create amazing experiences by crafting top-level UI/UX.