As the marketing industry continues to evolve and find new ways to reach consumers, marketers are increasingly focused on how to distribute their marketing spend in 2023. It is projected that marketers will be allocating their marketing spend in 2023 differently for the year. We can expect to see more budgets allocated towards earned media, SEO, organic social media, content AI tools, email marketing, UX/conversion rate optimization, podcasting, community-building, paid ads, search ads, social ads, other online ad buys, and traditional ads.
Marketing Spend in 2023
As we move into 2023, marketers are shifting their budgets to focus more on digital marketing strategies. Consumers are more connected than ever before, creating an entirely new way to engage with them. So, as 2023 draws near, marketers are eyeing the trends and technologies that will soon be commonplace. The following breakdown tells where marketers will be distributing their marketing spend in 2023:
- Earned Media: With the proliferation of social media, earned media will still be an important piece of the 2023 marketing budget. Businesses recognize the long-term benefits of earning quality media coverage. Brands will be looking to collaborate with influencers to reach their audience in unique, creative ways.
- Search engine optimization: SEO will continue to be a priority as it builds brand authority and trust. Organic SEO will still be important in 2023. Marketers will be spending their money on optimizing websites for better search performance, as well as monitoring and managing SEO to ensure their page rankings stay stable and consistent.
- Organic social media marketing: This is yet another key pillar of 2023 marketing budget, allowing brands to connect with their audiences in a more personalized way. As organic reach on social channels continues to decline, marketers will be focusing on creating content that resonates with their audience and drives engagement.
- Content AI Tools: Content AI tools will proliferate in marketers’ toolkits, allowing marketing teams to create more personalized experiences for their customers and increase ROI. Such tools provide advanced analytics and automation to make content marketing more efficient.
- Email Marketing: Email marketing is not going anywhere anytime soon. Marketers will be investing in tools to help them automatically segment and personalize email campaigns, as well as systems to help them keep track of their campaigns’ performance. Email marketing continues to be a high-value tool for customer engagement.
- UX/Conversion Rate Optimization: With the proliferation of mobile devices, marketers will be focusing on improving the user experience on their websites and apps to ensure they can convert visitors into customers.
To provide the best user experience, marketers are also investing heavily into UX/conversion rate optimization.
- Podcasting: Podcasting is a popular trend that is on the rise, and is predicted to be one of the most popular content mediums in 2023, as it offers brands an opportunity to engage with potential consumers in a unique way.
- Community-building: Community-building is a powerful tool in 2023 and one that marketers should not overlook. Creating a meaningful connection with customers and potential customers is paramount in today’s marketing landscape. This helps create a sense of belonging and enhances customer loyalty.
- Paid ads: Paid ads include search, display, mobile, and native advertising, as well as social media ads. These methods enable marketers to target the right audience and drive qualified leads to their products or services. Additionally, many of these paid advertising platforms are now equipped with sophisticated AI tools that enable marketers to deliver highly targeted ads and optimize campaigns for better performance.
- Traditional ads: Many marketers are still investing in traditional ad buys, such as radio and television commercials. So, such ads are also still in play, although their use is gradually decreasing.
Avail of the Exemplary Marketing Services of Widepool in 2023
With all the strategies combined, the overall marketing spend in 2023 is expected to be higher than ever. Overall, marketers need to allocate their marketing spend in 2023 wisely to ensure that all channels are properly funded and that each channel is working together seamlessly. You can avail of the exemplary services of a professional agency like Widepool to hit the marketing bull’s eye this year!