Xpert Digital marketing specialists have already looked ahead to the new year: 2023.
The end of 2022 is approaching and that means that the new year is not that far away from us at all.
Do you want to discover new trends in digital marketing? Here we will discuss the macro trends for the new year.
In 2023, we need to focus on three aspects: people, measurability, and margin. It is important for organizations to focus extremely on this in the coming year.
In today’s market, it is becoming more difficult to find and retain the right people. Competition is increasing, revenues are under pressure, there are high costs, and measuring ROI is becoming increasingly challenging.
Retaining people with Digital Marketing
Just like the previous years – something that has really started since the start of COVID-19 – the so-called ‘Great Resignation’, the large outflow, is underway.
Since the start of the pandemic in 2020, more and more people have left their work sector and have started working in another sector or have started working less.
Others have found a way to live life in a different way. For this reason, the effective capacity of labor is shrinking.
If you look at the media and the technology sector – that’s where marketing, or at least online marketing, comes in, there’s also more outflow than inflow. Namely 55 percent versus 45 percent.
Where does the outflow go?
That remains unclear.
These are some of the results that have emerged from McKinsey’s great attraction (2022) global study.
A possible reason that people are leaving their sector is that they dare to make more demands on employers (think, for example, of working from home or in the office).
It is also the case that employers can no longer expect employees to have certain studies or backgrounds. The employer is forced to look more at what the employees have to offer.
This brings the employee to a place where he functions well and performs work that the employee likes and can do well. A win-win situation for all parties involved.
A lot is changing within the field. People and organizations are increasingly going to work digitally.
This has a lot of influence on who performs the work, but digital developments also have a lot of effect on the work of marketers.
They are the linchpin in the organization when it comes to changing and moving with the latest market developments and customer demand.
They become centipedes and must be at home in all markets. Improving, changing, and continuously experimenting is the daily life of a marketer.
For many organizations, it is becoming increasingly difficult to become or remain profitable.
The higher purchasing costs are partly due to the events in the Suez Canal, but also due to rising gas prices and inflation.
These aspects ensure that more and more people still keep their hands on the cut. And demand is already declining in some sectors.
The best way to deal with this is to start with an analysis of how you are doing. That’s step one.
In your digital marketing mix, you can then focus on that margin. See if the customer you bring in via channel A or B at the bottom of the line makes you money.
And how much?
Also, look beyond that initial purchase. And that lead that came in last? Has that become a customer?
In addition, it is also a pick your battle situation.
Because so many, and so fast, things are changing, it is almost impossible to make a profitable business case. Therefore, take a very critical look at your marketing mix.
The opportunity to switch from a target group or market to something else as a company can be rewarding for your organization.
It is often the case that companies start cutting marketing budgets. This is not always wise because it can mean a permanently deteriorated economic position in the market.
Improve measurability through Digital Marketing
Well-known programs used by almost every marketer will undergo many changes or updates.
In 2023, we will massively switch to Google Analytics 4 (now the beta version Web+App property).
Google Chrome will stop supporting and supporting third-party cookies in 2024. And this poses a threat to data quality.
Collecting data will therefore be done in a different way. But do you actually need all that data?
A large part does not. Often too much rather than too little data is collected. Or not the right data.
Solutions for this are certainly there, but they also cost time and money. Possibilities are:
- First Party Tracking;
- TraceDock or a CDP
- Server-side Google Tag Manager
Other possibilities and solutions are discussed in more detail in the Data & Automation podcast that will soon be online.
Many changes await us in the new year, but a new year also brings new opportunities.
For marketers, it can be fun. At least, if you have a growth mindset. There is still a lot to be gained and you can outsmart your competitors in many ways.
Keep looking at all the opportunities!
Read More: 3 steps that will help you grow your brand