In 2021, the global marketing technology industry market size was estimated to be $167.832 billion. It is expected to grow by a CAGR of 14.03% by 2027. And all the while this is happening, digital marketing evolves in new ways.
If you were to write a book about the evolution of digital marketing technology to this date, it would be an immense read. The ways technology, rules, and algorithms have changed are too many to count, and they keep changing.
This guide will provide you with updates on the latest marketing technology trends for 2023. Read on to put your knowledge in check about the industry and how you can use this knowledge to benefit you.
Table of Contents
In general, marketing is probably a concept as old as civilization in the sense that it’s about selling your skills, services, or something else to another person. We can trace some forms of marketing back to antiquity in places like ancient Roman and Greek markets, but it was sure to happen much before even these times!
In a modern sense, we can trace the roots of marketing to the industrial revolution in the 18th and 19th centuries in Great Britain. With many modern developments like mass production of goods, vastly improved infrastructure, and better logistics, marketing became a necessity to promote products and services in this new era.
One very important element in the evolution of marketing was print media. This type of media allowed the mass production of printed advertisements that entire populations could see. For anyone selling a product or service, this was an incredible opportunity to get their brand name and products or services out there for the masses.
However, with the rise of digital technology including computers and the internet, print media has had to take a back seat in the world of advertising. It still exists and can be effective in many ways, but the power of digital advertising and marketing tech far outweighs any print media these days.
Marketing tech is technology specifically used for advertising. Pretty much all marketing tech functions in software form on a platform or application. Google is the main website that people use to base their marketing tech on, as it is the most used website in the world for people to search for things.
Marketing tech at its core can consist of email marketing, CRM, SEO, content management, analytics, advertising, and more. You can see marketing tech as concepts that people and businesses use to enable them to market their products or services online.
Many people underestimate the power of digital marketing. It can be one of the most sophisticated and powerful tools to get your company’s message, products, or services out to the wider world.
Companies may make millions or even billions of dollars with a strong reliance on marketing technology. For example, just take a look at Amazon.com and see how their business model revolves around online technology, with a vast amount of money they spend on marketing online.
So now let’s explore some marketing trends that you should know about in 2023. We’ve selected some of the trends that we think will be the most relevant in the coming years if you have an online business.
Some of these trends expand on existing concepts. Others are new to the world of marketing tech:
In the past, it may have been pretty formal in the way that customers communicate with sales reps for a company. There would be a lot of sirs and madams involved over the phone, for example.
These days, companies are moving more and more towards chatting via instant messaging on their websites. In some cases, they will use real people to do this, and in other chatbots.
The point is that the way people and businesses talk now is changing. It has become more conversational in nature, as people are used to having laidback chats on instant messaging apps with friends and family. When they talk to a company on such an application, the tendency is to chat in the same way.
Businesses need to realize this and form effective conversational marketing strategies to suit the expectations of their customers when they interact with them. They want companies to sound friendly and natural, rather than robotic, scripted, and formal.
It’s becoming more obvious to businesses that they need to rank higher in search engine results pages (SERPs) to be more competitive. Websites ranking technology has advanced to the point now where you can see detailed analytics on where you’re ranking.
When you have such information at your fingertips, you can then strategize to improve those rankings so that you are higher up in the SERPs than your competitors. It’s something that many businesses still have not gotten to grips with, and so if you utilize this tech, you might have a strong edge over your competition.
Push notifications offer a lot of impact in the marketing world. An example of this type of notification is when you hear a “ding” on your phone and there is a notification from a website telling you about something.
Companies are using this technology more and more in their bids to outdo each other. They are effective because most people will glance at their phones and other devices from time to time to check on things and they may see your push notifications. If you phrase them right, you can attract people to click to see what you are offering or informing them about.
Another strong marketing tech trend that might grow in 2023 is the concept of Rich Results offered by Google on their search engine. A Rich Snippet is where Google highlights some information on its SERPs that it deems valuable. You test if your website has any Rich Results here.
For instance, you may have a company that’s a classic watch specialist. On your website, you may have some valuable information about watch history. When people search about the history of watches, Google may highlight some information that you present on your website about watch history.
With the rise of Rich Results, the focus on being on top of Google SERPs becomes less. Instead, Google is highlighting high-quality content above any websites in the SERPs. This could mean that business trends may start to change with regard to SEO.
Influencer marketers have been around for a while now. However, we may see even more growth in their influence in 2023. Companies are starting to see value in popular influencers selling their products for them on social media platforms.
A good example of this type of marketing is on YouTube. You can watch some of your favorite YouTube personalities these days featuring some sort of advertising section in their videos.
Companies are starting to realize that some influencers command a lot of respect for particular groups of people that fall in line with the companies’ target audiences. So it makes sense that they associate with such influencers to gain some of that respect and sell their products or services.
AI is a growing technology in general, and it is having an increasingly stronger influence in the marketing world. It’s the driving force behind things like chatbots and smart assistants, for instance, but there are many other applications for its use being developed.
AI technology may be useful in 2023 and beyond for handling a lot of repetitive tasks related to marketing work. This will mean that companies can focus more on the core aspects of their marketing campaigns without getting so bogged down.
Of course, the human part of marketing is crucial if you want to engage with new and existing customers. AI tech should be seen as a useful tool to work alongside your marketing strategy as a whole.
If a picture can paint a thousand words, how many words can moving pictures paint? Video marketing is becoming more and more dominant due to its ability to present information in unique and rapid ways. You may see a trend now of many blog posts having accompanying videos added in for extra impact.
Also, many companies are exploring how they can advertise their products using popular platforms such as YouTube. They can simply then just embed these videos on their websites too for extra impact.
As you can see, marketing technology is evolving in new ways and it’s vital you keep up with the trends if you wish to remain competitive. The key is to consistently look at your marketing strategy and any new trends, and change your strategy when necessary. Sometimes new concepts might not work for you, but that doesn’t mean you should stop trying.
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