Listen up, folks! The mobile app space in 2023 will be intensely competitive. Just like a game of Hunger Games - only the fittest, the smartest, and the most strategic will survive. But we are going to divulge a closely guarded secret to you on how to survive in this competitive arena.
Bring your ears closer…
It's called - Know thy enemy. By enemy, we mean your competition (we're not advocates of violence btw 🙂). You need to know what other app marketers are planning right now to stay ahead of the curve.
We’re pretty sure about one thing - they already have a well-planned marketing budget in place. We also know that with so many marketing avenues to choose from, they’ll turn strategic in their spending and make sure that they're getting the best possible return on investment from the chosen areas.
Now the obvious question is - where are these app marketers putting their money? Let’s find out as we take you through 5 key areas where brands will be spending their marketing budget in 2023.
Marketers have realized that building a strong army of loyal customers is the key to driving sales.
First, it can help create a sense of belonging among their target audience. This, in turn, leads to a strong sense of camaraderie with the brand that extends beyond the transactional relationship.
Second, when customers feel a sense of connection and belonging, they are more likely to share their experiences with others, leading to strong word-of-mouth marketing.
Finally, by engaging with community members (customers), brands can learn more about their needs and pain points, which will help them craft personalized experiences.
So owing to these promising benefits, one part of the marketing and promotional budget in 2023 will be spent on creating a community culture and engaging customers on platforms like social media and forums.
Ever since the launch of ChatGPT in November 2022 and Google’s Bard in February 2023, there has been a constant buzz in the marketing and content ecosystems. Marketers are tossing and turning in their beds, wondering how to infuse these AI tools successfully (and safely) into their marketing strategy.
Some are using it for creating content, while others are using it for research purposes. However, a definite pathway for AI in their marketing strategy has not been carved in many companies yet. Most marketers are still skeptical about these AI platforms as they do not fully comprehend what they are and how they can be used. If some are bothered by the quality of output, others are worried about the privacy of their data.
Despite these obstacles, they know that it’s hard to ignore the role of AI in marketing in the coming days. So in 2023, marketers will be spending another part of their budget on understanding and researching how AI tools can help optimize their marketing efforts.
With automation everywhere around us (see the previous point), brands are likely to mass-manufacture generic, mundane, and sub-standard marketing content. To avoid customers and prospects from losing the trust they have in the brand, smart marketers will spend considerable time creating thought leadership collateral.
The focus will be on content that offers valuable insights, expertise, and perspectives supported by credible sources of data. This will lead to increased credibility, better brand awareness, and improved customer engagement among the target audience.
So in 2023, a part of the marketing and advertising budget is likely to be spent on creating thought leadership content, as it is one of the easiest ways to differentiate your brand from competitors by showcasing unique perspectives and innovative ideas.
Even though podcasting has been around for over a decade, it’s yet to ripen fully. Why? A general lack of awareness among the target is to be blamed. Many consumers didn’t know what podcasting was. As a result, marketers stayed away from it - they were unable to build an audience and find listeners who would subscribe to their podcasts.
But things are changing today. More and more people not only understand and listen to podcasts but know how to access their preferred content. At the same time, marketers have realized that podcasts can be a great way to connect with their target audience. When people listen to your podcast, they start to feel like they know you and your brand on a more personal level.
As a result, many marketers have started considering this as a viable channel for the future and are planning to spend on podcasting in 2023.
With governments across the globe tightening data protection laws like GDPR and tech behemoths completely against third-party cookies, marketers are on the verge of losing mountains of customer data. To counter this, there will be a surge in the number of interactive content presented to the customers. The goal of such content is to gather psychographic data that can be used for targeting in the future.
And let’s not forget interactive content like games and quizzes that engage customers greatly, leading to improved visibility for your brand. Long story short, a sizable chunk of marketing spend in 2023 will be on the creation of such interactive content.
In 2023, brands are expected to continue investing heavily in marketing and user acquisition campaigns. However, where they allocate will shift from previous years, as highlighted in this post. Ultimately, as the app marketing landscape continues to evolve, marketers who stay ahead of the curve and remain flexible in their approach will be best positioned to succeed and drive growth for their businesses.
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