Navigate the changing communications landscape and create engaging campaigns which meaningfully resonates with, delights and inspires the evolving consumer.
As we settled into a 'new normal' rhythm since the pandemic, 2023 presents a new looming battle - the financial catastrophe. History has shown us that every crisis presents a wave of opportunities to deepen connections with audiences and evolve, so we looked at five trends to know this year to navigate the changing communications landscape better and create engaging campaigns which meaningfully resonates with, delights and inspires the evolving consumer.
1. The Gen X Factor
The recession will likely cause a behaviour shift in consumption priorities and how audience groups spend their money. Gen X and older millennials will likely provide the most loyal, reliable and sustainable custom for brands in 2023, in contrast to Gen Z, who is projected to be hit hardest by inflation, and cut back on spending this new year. As Gen Z has been a key target for most brands, with many counting 60% of their audience belonging to this demographic, marketers should be mindful of how they may need to adapt their usual strategies.
2. Out with the old in with the NFE (Non-fungible Experiences)
Over the initial NFT hype, consumers could begin to lose interest in basic digital collectables from brands. To stay relevant and competitive, 2023 will see an increase in brands providing customers with loyalty-rewarded programs instead, which NFTs will give them access to. Additionally, blending exclusive virtual products to unlock exclusive access/experiences will incentivise users to purchase branded digital artwork and add value to their offerings.
3. Social Commerce is One to Watch
Social Commerce has been slowly maturing into an offering that consumers, brands and influencers have begun to take notice of. As a result, we expect the functionalities of social shopping to become more established, normalised and wider adopted throughout 2023.
Shifts in consumer discovery behaviour are already showing moves towards this as almost half of the younger generations are using social media to search over Google; it is only a matter of time before social commerce becomes the new seamless, direct way to shop, aided by in-feed UGC and testimonials to help build trust and aid in conversion.
4. The Year of Community-led Collaborations
Since the pandemic, the power of togetherness and community has shown no evidence of slowing
down. This has impacted the influencer marketing and wider comms industries, as it's expected this year compelling brand and influencer partnerships will move from "individual partnerships" to community collaborations. Brands will strategically merge niche audiences to create one larger, more powerful community. This has proved successful for brands such as Jack Willis, who have been drawing up buzz for their community-focused branded holidays for groups of TikTokers to create and have fun together.
5. AI Vs. Authenticity
The latest topics dominating the digital industry have centred around filters, body image and editing. The metaverse, web3 technologies and an obsession with virtualising human bodies have created a space for people to express themselves in new, creative ways. However, this could undo the progressive work to dismantle unrealistic beauty standards with each new Virtual influencer, AI creation and lifelike avatar designed.
Marketers wanting to tap into the trends should carefully weigh up being innovative vs reinforcing the nuances around representation and ideals at a time when consumers are demanding increased authenticity.
Every year presents new and exciting opportunities for marketers to revolutionise the marcomms. This New Year, it's important to be agile yet stay ahead of the curve and keep your consumers at the forefront of everything you do to reap the desired results.
Whether you are new to the marketing space or want to refresh your existing strategy, connect with us to learn how we can further support you in creating engaging storytelling content and connect with a diverse roster of creatives.