What are your New Year’s Resolutions for your business this year? Maybe you’re going for an old reliable like growing your sales? Perhaps you want to launch on TikTok or grow your email newsletter reach? Whatever your goals are, having the knowledge of what’s coming down the line will help your business thrive in the year ahead.
That’s why we’ve turned to our internal experts at Small Business BC to get their thoughts on the marketing trends of 2023. The good news is, many of these trends will make your life easier and free up your time to work on your business, rather than in your business.
Let’s check out the top 5 marketing trends for 2023.
2023 will be the year when artificial intelligence reaches the mainstream. These increasingly powerful tools look set to revolutionize how we work, and the impacts will touch upon every industry in time. If you spent any time on social media in 2022, you probably noticed the explosion of AI-generated art. That was just the first major milestone.
Already, AI can perform many roles that were previously the preserve of humans. In fact, it’s almost impossible to tell that an artificial intelligence did the work. In 2023, you’ll be able to get an AI to write your marketing copy, chase down leads, and create social media images for your brand. What will you do with all your extra free time?
Sustainability as a Selling Point
Midway through 2022, Yvon Chouinard, founder and CEO of Patagonia, announced he was donating all future proceeds of the company to fight climate change. This was the latest, and most high profile, of a general shift in the business world towards prioritizing sustainable business practices.
This change is being led largely by consumers, with recent surveys highlighting that most consumers prefer spending their money with companies that prioritize sustainability. In BC, small businesses can show they take sustainability seriously by pursuing B Corp status. For startups, don’t be shy to highlight how seriously you take your responsibilities in this area. Weave it into your brand story, but don’t make any claims you can’t back up.
Canada’s Digital Transformation
Alongside their preference for sustainable business practices, Canadian consumers are increasingly spending their dollars online. Companies that don’t service this need risk getting left behind. Does your business have an e-commerce store? If not, 2023 is the perfect time to launch one.
You don’t need to stumble through this task alone. Small Business BC offers a micro-grant of up to $2,400 to help get your business online through the Canada Digital Adoption Program. Alongside this direct financial support, businesses can also lean on the expertise of an e-commerce advisor, who can provide advice and support to launch your online store.
Personalized Customer Experience
Does it feel like your marketing isn’t as impactful as it once was? Are you seeing diminishing returns for your spend? It’s not just you, we live in a world with endless distractions, and younger audiences have learned to tune out a lot of traditional marketing. One way to stand out from the crowd is to go back to basics, but with a 21st century twist. Your business can provide an exceptional customer experience by leaning on the huge selection of data and analytical tools available.
Marketers can now easily tailor their messaging, products, and services to the individual preferences and needs of each customer. This has been proven to increase your engagement and conversion figures. It boils down to using a customer’s past interactions with your brand, and their data, to target them with individual offers, suggested products, and timely emails.
Social Media as a Customer Service Tool
How do most of your customers reach you with a complaint or question? Chances are, you’ve noticed an increase in these interactions over social media. HubSpot’s 2022 Consumer Trends survey found that 20% of Gen Z-ers and almost 25% of Millennials have contacted a brand on social media for customer service in the past three months.
As these age cohorts continue to grow in size and spending power, this trend will increase in the short-term. Ensure your business is set up to respond to these questions in a timely manner. Treat them as you would an email or phone call. Take them seriously, and respond publicly if a customer posts to your timeline. If others see you handling the interaction well, it will build trust in your brand.
Small Business BC is Here to Help
SBBC is a non-profit resource centre for BC-based small businesses. Whatever your idea of success is, we’re here to provide holistic support and resources at every step of the journey. Check out our range of business webinars, on-demand E-Learning Education, our Talk to an Expert Advisories, or browse our selection of business articles.