With the holidays behind us, a new year lies ahead. On a personal level, you may have already abandoned your new year’s resolution to go to the gym everyday or to cut down on your social media doom scrolling. But 2023 also offers a fresh start for your business, whatever its size, and untapped marketing strategies to stay ahead of the curve and to reach your target audience.
With so many options available, it can be tough to know where to focus your efforts. Here are a few top marketing strategies to consider in the new year:
1. Personalized CRM: Personalization is key in modern marketing. By using tools like customer relationship management (CRM) systems and data analytics, you can tailor your marketing messages to the specific needs and interests of your target audience. This can help increase conversions and build customer loyalty.
Mail Chimp, Microsoft Dynamic 365, Oracle CRM, Pipedrive, and Sales Force Sales Cloud are some of the lead CRM Systems used by businesses to develop marketing plans based on the collected customer data. You may not realize it, but 65% of companies already use CRM software and 92% believe that adopting this technology is crucial to achieving their goal of ‘customer centricity. IBM even did a study that stated that the ROI of CRM software systems, when properly implemented, can exceed 245%.
One of the most successful businesses that have crafted one of the most efficient CRM infrastructures in the world is Amazon. Through its personal account system, Amazon tracks the purchases and viewing history of its registered users in order to create person-focused marketing and email campaigns that are generated to visually allure the target customer. Apple also utilizes a similar process through its Apple ID registration process. The interconnected nature of all the programs that utilize the account allows for the company to easily gather data through a multitude of avenues which can then be flipped into target marketing.
2. Video marketing: Video is a powerful tool for engaging and converting customers. Whether it’s through social media, email marketing, or on your website, video can help bring your brand to life and drive results.
Multinational digital communications company, Cisco, found that in 2022 82% of consumer traffic was video traffic. 85% of businesses use video in marketing, and 92% of them consider video an essential part of their marketing strategy.
3. Artificial intelligence: Artificial intelligence (AI) is revolutionizing the world of marketing. By using tools like chatbots and personalized recommendations, you can improve customer experience and drive sales.
In a recent study, the marketing tool company Semrush found that 40% of companies cite user experience as their primary motivation for using artificial intelligence. 48% of businesses already use some form of AI to utilize big data effectively. Companies that implement AI marketing tools see a 451% increase in qualified leads. Netflix already makes $1 billion annually from automated personalized recommendations.
An early adopter, Starbucks presented an AI strategic plan in 2016 to investors. Through the incorporation of a mobile app and loyalty card, Starbucks utilizes AI to collect user data to create personalized marketing messages based on user habits. AI is also present in the company’s mobile app’s virtual barista service that allows customers to place orders through their phone’s voice command microphone.
4. Influencer marketing: Partnering with influencers can be a powerful way to reach a new audience and build credibility for your brand. Look for influencers who align with your values and have a strong following in your target market.
Three brands that were able to fully take advantage of and successfully use influencer marketing are the HISTORY channel, Dunkin’ Donuts, and Häagen-Dazs.
The HISTORY Channel started a TikTok campaign with the influencer marketing brand NeoReach. Using popular TikTok creators, the campaign reached 21 million accounts, viewed 12.2 million times, and grew the new account to 50,000 followers.
Using their advertising agency, Tilia, Dunkin’ Donuts created a Snapchat campaign for National Donut Day with 8 influencers that resulted in a 10x follower increase, 40,000 cases of engagement, and the campaign reaching 3 million people.
Häagen-Dazs over the summer of 2021 launched an Instagram campaign called Open Container. The venture utilized New York City influencers to create a millennial metropolitan-focused angle as part of their BOGO deal with Duane Reade and Walgreens. The Häagen-Dazs campaign generated 14.3 million impressions and 27,400 social engagements (a staggering 400% above the average engagement rate). Open Container resulted in a 148% lift in share of voice for Walgreens and Häagen-Dazs.
5. Social media marketing: Social media is an essential part of any modern marketing strategy. By using platforms like Facebook, Instagram, and LinkedIn, you can reach a wide audience and engage with customers in real time.
In the US, over 83% of internet users are on social media and among that percentage, 40% of 18-34-year-olds have bought a product from social media. According to EMarketer, social media has a wide range of saturation based on age. Millennials lead the way with 90.4% being active users. For Gen X, that number is 77.5%, and Baby Boomers still participate at a rate of 48.2%.
Apple, in 2015, launched The Shot On iPhone Challenge. By utilizing the hashtag #ShotOniPhone they were able to use their participants in their social media, website, and billboard marketing. The first round of the campaign had more than 6.5 billion impressions and was mentioned by 24,000 influencers.
Spotify, in 2019, started its #YearWrapped campaign. The user-centered streaming app would combine and showcase listening habits and info to the user. The said user would then be allowed to share this information on their social media. The campaign was mentioned in over 1.2 million posts on Twitter and 60 million users engaged with the campaign on-site.
6. Content marketing: Creating valuable, informative content can help attract and retain customers. Whether it’s through a blog, email newsletter, or social media posts, content marketing can help position your brand as an industry leader and drive sales.
Duolingo, a language-teaching mobile app, has amassed over 4.5 million followers on TikTok due to its consistent output of content and utilization of the green owl mascot. Their unique and humorous content has raised brand awareness of their app to a language-curious younger demographic.
By using these top marketing strategies, you can stay ahead of the curve and stay relevant in the new year. Keep in mind that the most effective approach will depend on your specific goals and target audience, so be sure to test and measure your results to see what works best for your business