Marketing Trends for 2023 for Small Businesses

Digital marketing is an essential subset of marketing that has grown exponentially over the years. In addition to being effective, it’s affordable and allows businesses to tackle audiences where they are – online. Brands should focus on platforms where their audience is. Beauty content thrives on YouTube, Instagram, and TikTok, whereas other niches may perform better on Twitter or LinkedIn. Additionally, marketing to Gen Z may be more appropriate on TikTok, while marketing to baby boomers may be more effective on Facebook. That being said, not every business has perfected digital marketing. Entrepreneurs must keep up with digital marketing trends to stay relevant, connect with their customers, and grow their businesses. This article will discuss digital marketing for small businesses, including affordable digital marketing options that suit every budget.

Social Media Is Here to Stay

Some small businesses may have a website but lack a social media presence. However, in doing so, they miss out on many opportunities. You may think posting is time-consuming, but it doesn’t have to be. Hiring an affordable digital marketing agency makes this easy since they handle your social media presence for you. Additionally, social media is a great tool for collaborating with other brands. Building relationships with other brands boost your social media presence by marketing to their audience. There’s no denying that social media and internet use increased dramatically during the COVID-19 pandemic. With lockdowns and working from and spending more time at home, individuals spent more time online than before. Despite the world returning to normal, this hasn’t ceased. People continue to spend time online and have embraced e-commerce which was prevalent during the pandemic. Because of the rise of internet use, brands now have standalone budgets for content marketing. In fact, this was true for 61% of brands, a number that has increased steadily over the years.

Long-Term Influencer-Brand Relationships Are the Way to Go

Many businesses have made the mistake of thinking that influencer marketing is temporary. This could not be further from the truth – influencer marketing is here to stay and uses social proof to raise brand awareness and sales. Are you still unsure about using influencers to increase brand awareness and sales? Look at the statistics since numbers don’t lie. The creator economy is worth $104 billion as of 2022, with influencer marketing worth $16.4 billion. The industry continues to grow at a rapid rate, with approximately 18,900 companies specializing in influencer marketing and more than 75% of brands dedicating a budget to influencer marketing. 90% of brands believe that influencer marketing is effective, and 68% plan to increase their influencer marketing budget. One big digital marketing trend is using a formal ambassador program. This allows a brand to build long-term relationships with influencers within its niche. Since they repeatedly recommend the brand to their following, they build brand awareness. Additionally, brands can use this in combination with affiliate links to provide discounts and track an influencer’s reach. 59% of brands said they use influencers for their affiliate campaigns. This is across several platforms, including blogs, review sites, coupon sites, etc. Engagement on TikTok is particularly high, and the platform is great for marketing to Gen Z. However, companies use the same influencers across a range of platforms, with this number being as high as 57%. Many brands use influencers for marketing their eCommerce stores powered by Shopify. Yet another important digital marketing trend for influencer marketing is the form of payment. While many brands use cash to pay influencers, others give them free products or a discount on products and services.

Livestreaming and Video-Based Content

Livestreaming and creating video content is also an essential part of influencer marketing. If you’re worried about the effectiveness of live-streaming and the return on investment, look at the following statistic – the top two live-streamers in China sold $3 billion worth of goods in a single day. In addition to using influencers, brands can also live stream on their own. One popular digital marketing trend is to create shoppable live streams where viewers can buy products in real-time. Social commerce sales are currently worth $958 billion and are expected to reach 17% of all e-commerce spending by 2025.

Posting User-Generated Content Is on the Rise

Don’t have time to create your own content? Opt for user-general content instead. Through giveaways or other contests, you can have users create content for you and use a hashtag to promote such content. Receiving many entries gives you plenty of material to post on social media to market your products or services. This is an excellent tool to not only raise brand awareness but gain social media followers and engagement with your brand. Did you think that digital marketing on a budget was impossible? User-generated content ensures this is not the case. Creating content or hiring content writers may be expensive for smaller brands, but having their audience create content is much more affordable. Is Your Small Business Keeping Up With Digital Marketing Trends? Businesses must stay competitive in the modern landscape and stand out from alternative options. This is especially important for small businesses that must keep up with digital marketing trends, so they don’t get left behind in the global and increasingly digitized market. Competition is rife. Even if you’re not following digital marketing trends, you can be sure that your competitors are, making it critical to invest in this type of marketing. Ensure your business is up to date with digital marketing trends by subscribing to the Words Sell newsletter below.  Word Sells’ useful tips will help your business not only survive but thrive in today’s competitive market. Remember – digital marketing doesn’t have to be expensive. Digital marketing on a budget is possible. Our affordable packages include SEO, social media posting, Google, TikTok, and Facebook ads, creating content, and more. Check out our services here, and then contact us to get started on transforming your marketing plan!