The Future of Digital Marketing and Advertising: 2023 Predictions - SG Analytics

 SG Analytics_Blog_2023 Outlook Ways Marketing and Advertising will Change for the Better

The advertising industry is moving fast. Once a risky bet, digital advertising and marketing are now becoming a norm.  

A recent report highlighted that digital ad spending is anticipated to surpass $600 billion in 2022. And the numbers are set to rise to $876 billion by 2026. 

With the ever-changing digital landscapes of social media and the internet, advertising and marketing companies must advance alongside. The rise of new platforms, changing regulations, and evolving user preferences, are compelling brands to experiment with their existing advertising experience. The sector is expected to witness new changes in the coming new year, but to what extent? 

While it is still certain what changes will take place in the coming years, it is true that the future of the advertising industry is transitioning and starting to take a new shape. 

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As new innovations continue to emerge and consumer expectations evolve, agencies and brands are exploring ways to stay on top of the competition. Let's explore some of the most promising advertising and marketing trends to look forward to in 2023 and beyond. 

Read more: The Future of Consumer Interaction: The Role of Tech to Enhance Consumer Experience 

Future of Advertising and Marketing: 2023 Predictions 

  1. Due to Programmatic Advertising, Artificial Intelligence will Play a Significant Role 

Programmatic advertising integrates artificial intelligence (AI) to automatically buy and sell ad space in real time. This helps businesses to save vast amounts of their time and reduce the cost per lead. In 2022, more than 90% of display ads were transacted programmatically. And this trend is here to flourish in 2023 as well. While the increase in programmatic advertising slowed down in 2022, marketers will spend more on programmatic ads by the end of the year and in 2023. 

The future of advertising will be AI-powered in 2023. It will employ the effectiveness of AI to promote operations with machine learning. This implies that brands will be able to create personalized ads for their consumers. Artificial intelligence (AI)will play a vital role in how brands reach out to their target audience and understand what consumers want and need. This will enable brands to identify the different preferences of their consumers for their products or services. 

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  1. Shorter Video Ads will Drive the Advertising Landscape 

If there's one king in the digital space right now, it's video. Video is likely to continue to be the most prominent digital marketing trend in 2023. 93% of marketers believe that video helps conversions better than any other content marketing format. And the popularity of video content is showing zero signs of slowing down.  

Another significant trend is that video ads are now getting shorter. More than 56% of video ads are now less than two minutes long. Marketers are now optimizing their video content for different platforms as users expect different lengths for their video content.  

Video marketing will still be an integral part of content marketing strategy for businesses. The expected runtime of video content for each platform is as follows: 

  • Instagram - 30 seconds 
  • Twitter - 15 seconds or less 
  • Facebook - 1 minute 
  • YouTube - 10 minutes 

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  1. QR Codes to make Shopping Easier 

A QR or Quick Response code is the digital equivalent of a barcode. It offers a precise way to reach the targeted users on their devices. Today many smartphones also have a QR scanner in the camera that can activate a digital response when scanned. By integrating these QR codes, brands can build endless marketing possibilities. The codes can be used to direct user traffic to a website with a product information display. And the best part, creating a QR code is easy. Once the QR code is generated, businesses can place it on their website and even display it in their digital ads and campaigns. 


Reference: https://www.sganalytics.com/blog/the-future-of-marketing-and-advertising/

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