A new year brings new opportunities for companies in every industry. The introduction of innovative technologies and constant shifts in consumer behavior are important reasons to take a fresh look at your strategies and goals on a regular basis. If you own a small business, effectively marketing your brand, in addition to managing administrative tasks, sales, and other day to day duties, can be a great challenge.
However, marketing is one of the most important facets of business, and neglecting it can make it difficult to attract new customers and retain a loyal customer base.
Top business marketing trends to be aware of in 2023
Amp up your email marketing
Email marketing is now a fundamental element of any marketing strategy, whether for large corporations or small businesses. Email helps bolster brand recognition and loyalty, and it is a cost-effective, creative way to reach several audiences at a time.
In the coming year, companies should make it a priority to spruce up their email marketing efforts. Invest in a robust, affordable customer relationship management software that gathers insightful data.
Recruit authentic influencers
If your brand creates a one-of-a-kind product, it often takes more than your company alone to market it. You may not be able to afford a celebrity to endorse your product or service, but you can get an influencer to the scale your budget allows. Social influencers, relatable internet users who promote and recommend items to their loyal audiences, are authoritative voices in the world of social media.
Revenue from influencer marketing reached an estimated $16.4 billion in 2022, according to Influencer Marketing Hub. Additionally, a recent Deloitte study found that 70% of U.S. social media users follow at least one influencer, with 33% reporting influencers impact their purchasing decisions. Many of these content creators have large followings consisting of people who can become potential customers of your brand.
Use video to tell your brand story
Video is an extremely powerful marketing tool. Video marketing has been a primary focus for companies over the past few years since people innately find video content more dynamic and engaging than plain text or static imagery. From YouTube channels to Instagram Reels to TikTok feeds, brands of any size can leverage video to its full potential. Educational, informational, and entertaining videos should be infused into digital marketing strategies, as video attracts customers to learn more about your brand’s offerings. Video ad spend will reach nearly $79 billion in 2023, which is more than double the investment from 2019, according to Statista Research.
Investing in the right business insurance is essential to keeping your business protected. To learn more about how to protect your company, get in touch with your local Rural Mutual agent.