How Will Marketing Change in 2023?
As you plan for your marketing activities for next year, are you wondering how marketing will change in 2023?
Marketing can sound complicated if you listen to the noise. Complexity floods the marketing universe, from elaborate acronyms to frameworks to mindsets.
There is an assumption in marketing land that big ideas must be hard to imagine – so our complexity bias kicks in, and we think simple thinking can’t win the day.
The universal truth is – the basics still apply when thinking about marketing.
Listening to CMOS
I’m in the listening business.
During this past year, I had the privilege of speaking to several dozen CMOs from the largest multi-billion-dollar companies in the world in both B2B and B2C. And I had another project doing stakeholder interviews for VP of Marketing at smaller firms in the $250MM range. The discussions were one-on-one and confidential.
Since so many companies start planning their budgets and activities for the next year after Labor Day, I thought I’d share some of the wisdom I heard. All this is anonymous, and I pulled out the most valuable themes I had heard when I asked the question – what are you most concerned or focused on in 2023?
What’s in Store for Marketing in 2023?
Here are Nine Valuable Themes That Emerged from My Discussions About
- I learned that the fundamentals remain – your products or services must fit into a customer or client’s problem-seeking activities. Product/market fit isn’t going away. It will only be more valuable in 2023 to growth companies. With the consumer landscape constantly changing, getting back to fundamentals is top of mind. Get clear about what pain points you fix, solve or help.
- The customer needs to be aware of what you do, and it helps if you can regularly and frequently remind them of it. Ideally, being helpful and filling a need will win the day. Awareness is never-ending. Your brand needs to be a part of every day – or as often as possible. But think about understanding from a filter of being helpful – not selling. And, sampling your product or service gets prospects aware and connected to how you operate. How are you sampling what you sell?
- It would help if you were meaningfully different and distinctive from your competitors. And one theme kept coming up that competition is coming from new and various types of companies. Who would have thought Uber and Lyft would challenge Hertz and Avis? Or, Marriot would be threatened by Airbnb. Amazon and Walmart are storming into healthcare. How certain are you that prospects and customers genuinely understand how you are different?
- Rethinking channels is becoming a critical part of strategic planning and business strategy. Will services and products become available through new and different venues or platforms? Is a new marketplace where your goods and services can stand out because your competitors aren’t in that channel? Can you become available in more convenient places and ways?
- The execution of a strategy, if deeply flawed, can kill great potential. A poorly executed plan will take a brilliant idea and crush all the life out of it. Companies get into trouble when they can’t do what they say. Logistics, supply chains, and customer service are only becoming more and more vital to the healthy growth of a brand. Does the execution of your strategy live up to your marketing messaging?
- Community, belonging, and connection are in short supply. They’ll be more focused in the future on figuring out how to do a better job for brands. Finding new ways to facilitate connection and belonging will be another critical aspect of marketing in 2023. For example, one bank is eliminating the layout of its branches and turning them into coffee shops and community work centers. Think Starbucks and We Work have a baby. How are you building deep community and belonging among the tribe you serve?
- Not every brand needs to comment on every social event. A gas pipeline break or climate-changing water availability is appropriate for an energy company but probably less relevant for a vegan frozen treat or law firm. Relevance to your brand’s ethos should guide corporate communication and topics you comment on. Corporate communication will hinge on input from employees, board members, and senior executive leaders. Are you clear on relevant topics your comms team should comment on?
- Employees have been moved into the first position for companies over stakeholders and customers. There appears to be a recognition that unhappy employees will poorly execute a brilliant strategy. The best companies to work for are doing more listening and less commanding from the top down. How are you demonstrating your commitment to team members that their interests come first?
- Flexibility is the new watchword. Companies realize to keep great employees, and they need to find the right blend or hybrid approach to work. WFH (work from home), days in the office, and all the discussion around schedules will be essential to healthy and safe work environments. Are you building a command and control company – or one that is loose, flexible, and meeting employees’ needs?
Tactics may change, but the fundamentals remain. How will your marketing activities change in 2023?
Marketing leaders agree that delivering on your promise keeps the flywheel turning.
You can set up a time to chat with me about your marketing challenges using my calendar. Email me jeffslater@themarketingsage.com Call me. 919 720 0995. The conversation is free, and we can explore if working together makes sense. Watch a short video about working with me.
Photo by engin akyurt on Unsplash
