We are almost through the first part of 2023 and have been gathering insights on evolving marketing trends for 2023. While Digital and Data driven marketing will continue to dominate, it is important to keep your marketing efforts well-rounded.
CMT is focusing on 2 trends: Social Media and Purpose-Driven Marketing.
Social Media Marketing
According to a report from Statista, in 2021 over 4.26 billion people were using social media worldwide, this number is projected to increase to almost 6 billion by 2027. On average, users spend 2 and a half hours per day on social media and messaging apps. This makes social media a promising opportunity for marketers and advertisers. It is not a surprise that in 2020, advertisers spent approximately $132 billion on social media advertising, and that number has consistently grown year over year.
While purpose-driven marketing is not a new strategy, it seems to have become more prevalent in recent years in response to consumers’ interest in social causes. An example of purpose-driven marketing that has stood out for years is TOMS “one for one” campaign, donating a pair of shoes for every pair bought.
Another example of purpose-driven marketing (that flies under the radar) is Chick-Fil-A’s faith-based brand. Everyone knows their core values; however, they tend to not center their marketing efforts around it. Knowing and branding your core values is critical. Even when you know your purpose, you can decide at what level you want to communicate that to your customers.