Raviteja Dodda (Ravi) is the co-founder and CEO of MoEngagean insight-driven customer engagement platform.
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For marketers, 2023 will be a laser focus on digital channels. Across the board, marketers are planning increase their budget on technology tools to remove barriers and get closer to their customers across multiple digital channels. Unsurprisingly, most marketers are cut budgets spent on traditional advertising methods, such as television, radio and print, in favor of social media, mobile apps and producing proprietary content such as videos and podcasts.
In this article, I’ll examine the top brand marketing takeaways of 2022, leaving marketers with five customer engagement trends that should have a significant impact on marketing strategies in 2023.
Contents
1. Clairvoyant Chatbots: Using AI to Predict Customer Behavior
We’ve already seen the excitement around the open source chatbot ChatGPT usher in the new year. Artificial intelligence-powered, generative chatbots will shape marketing strategies this year and beyond. Why? Open API architectures allow AI-powered chatbots to be programmed to access brands’ customer data in the martech stack, enabling them to understand customers’ heartbeats based on their interactions with brands. Chatbots had no choice but to move forward to improve the customer experience.
As these tools become more advanced, you can expect more chatbot-driven voice interactions and omnichannel campaigns. Brands can use chatbots to analyze customer behavior and predict their next steps by looking at multiple touchpoints to improve the customer experience. Chatbots use machine learning (ML) to adapt to changing customer expectations and deliver cost-effective individualized experiences.
Brands have started using Facebook messenger or live chat to automate simple payments using chatbots with built-in data security and information protection. Chatbots can use the information from this quick checkout flow to enable conversation-driven, cross-sell, and upsell. Chatbots can provide transaction details and payment confirmations, resulting in higher customer retention.
2. Metaverse is getting real: AR and VR on the rise
Hub for influencer marketing predicts that virtual reality will be a compound annual growth rate of 15% by 2030. 2023 could be the year we see it gain significant popularity.
As the metaverse tries to blend augmented reality (AR), virtual reality (VR) and AI, a new immersive 3D experience could blur the line between real and real. Marketers need to find ways to leverage opportunities to create personalized experiences for customers that engage and encourage them to take action.
Multiple examples of mixed experiences have set the stage for what is to come. For example, ‘gamevertising’ is on the rise. NASCAR debuted its “Next generation racing car” on the popular game platform Roblox. AR helps customers “try on” their favorite products from 3D catalogs. Some brands, such as chic, enable online shopping through channels such as Snapchat. The French brand Carrefour enabled consumers to holiday shop via WhatsApp.
Soon, banks may even be able to offer a full 24-hour metaverse banking experience to customers who want to visit a bank branch but don’t want to bother driving to a branch. For example, metaverse avatars of bank executives may soon replace voice-enabled contact centers, enabling banks to provide customers with detailed information (such as bank statements and forms) in real time.
3. Hyper-Personalization: Next Level Engagement Opportunity
Hyperpersonalization can leverage advanced AI/ML to take personalization to the next level, delivering more relevant offers and experiences to every customer. In 2023, hyper-personalization will become a go-to strategy for marketers to build loyal customers.
Hyper-personalization as part of engagement campaigns can make each message feel like a unique, one-to-one engagement with customers. By focusing on hyper-personalization, marketers can ensure that customers receive the communications they are interested in on the right day/time through the desired channel, leading to positive engagement, higher retention, and higher conversion.
4. Personalized Video Engagement Strategies Take the lead
Video-first content is becoming an important area for marketing as it keeps viewers engaged longer than static posts. Statista reports this more than three billion internet users watched a video at least once a month in 2022. In 2023, short, highly personalized video ads will become a major marketing trend.
Keep in mind that consumers are more willing to engage with content that is less than 15 seconds long, but if marketers can personalize an ad, they have the opportunity to increase viewer completion rates to a average 85%. Marketers should use short, impactful personalized videos to increase engagement and brand awareness.
Facebook, TikTok and Instagram video reels are good options for grabbing consumer attention. For example, Instagram has been aggressively optimizing its algorithm prioritize roles and give creators more visibility than just static content. Live streaming also promises to be a great marketing strategy for consumer brands. Combined with influencers and personalized content, live streaming encourages potential buyers to interact with other brand advocates, discuss a product’s strengths, and make purchases while watching a video.
5. First and zero party data reign supreme
Marketers’ concerns about data collection and privacy issues are gone increased in recent years.
Firefox and Safari started blocking third-party cookies in their browsers, leading many brands to proactively collect and use their customer data. Google is now considering one as well cookieless futuremaintaining the crucial role that first and zero lot data will play ahead. Google will phase out third-party cookies in 2024.
Zero-party data collected from loyalty/referral programs, purchase intent, or other sources may be used to make product recommendations, create custom profiles, and improve customer service. Similarly, brands can leverage first-hand data collected through their own digital channels such as website/app, surveys, feedback, newsletter, SMS opt-ins, etc. This can facilitate the delivery of hyper-personalized experiences, the right reach customers and customers drive relationships by understanding their preferences.
Conclusion
In 2023, we will likely see more emphasis on data regulation and customer privacy, leading brands to reevaluate their marketing strategies and make significant shifts in marketing spending and resource allocation.
Expect to see these martech trends explode over the course of the year, striking a balance between continued brand equity optimization, a consistent focus on customer experience, and a conscious evolution of customer engagement. New martech platforms, technologies and trends will continue to influence customer behavior, and marketers must be able to keep up.
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Janice has been with businesskinda for 5 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider businesskinda team, Janice seeks to understand an audience before creating memorable, persuasive copy.