With the world, slowly getting back to speed and aiming to move forward faster, 2023 will be the year to capitalise to make up for the time and opportunities lost due to the pandemic.
With businesses coping with the COVID impact and experiencing the shift from traditional to digital to hybrid and innovative media platforms, we are witnessing new trends and industry patterns emerging and slowly evolving the landscape of advertising on a global level altogether.
Why do Advertisers need to keep up with the changing trends?
Take any of the iconic advertisements you have seen, they all work because they have the basic component of relatability.
Advertising can only be impactful and effective if it showcases itself as a reflection of society. Our society is transforming at unprecedented levels and at unimaginable speeds. To match up to it, the advertisers need to be on their toes, be diligent and understand how society is changing and as an extension of that the advertising needs to transform as well to stay relevant and impactful.
With that being said, let’s dive in to understand the 5 Advertising trends that will affect the industry in 2023:
Targeted Personalised Advertisements
It is well known that we as humans can connect with something on a greater level if it is personalised. Personalisation makes it more intimate, making us believe that the brand is made for us and working with us specifically.
With the advancement of AI technology and data collection and insights, brands have taken personalised advertisements to the next level. This hyper-personalisation of advertisements leads to consumers feeling more connected to the brand. Research shows that almost 80% of consumers believe that they will do business with a brand that offers them a personalised experience.
Reminds you of Swiggy and Zomato sending you personalised and persuasive notifications, to induce a purchase. That’s exactly how targeted personalised advertisements are used to generate greater recall and attribute a positive response towards the brand.
Authenticity in Advertising
Winning the trust of the audience becomes an essential part of gaining success as a brand. The audience today, has become smarter and more rational when it comes to putting their trust in a brand. Brands today cannot just put in extravagant amounts of visuals, special effects, or subliminal cues to fool the audience into trusting them.
A brand today can build trust by being authentic in its communication and execution. They need to be upfront with the audience, show them exactly who they are, and consistently showcase it to gain the audience’s trust. This helps in gaining credibility and earning brownie points that get converted into brand loyalty over a period of time.
As a brand, ensure you connect with your audience and make them feel it is a friend communicating with them, rather than an organization with agendas to achieve.
Gaming today is reaching newer and more intimate heights when it comes to advertising. Brands are capitalising on the game’s ability to keep the consumer engaged while the brand can subtly (sometimes even right in your face) advertise their brand and create a desire and build a favorable and lasting positive image in the minds of the consumers.
In 2020 alone, the downloads of mobile gaming apps increased to 45%. This shows the potential the gaming industry holds for advertisers and brands.
Jonathon Troughton, the CEO of FramePlay, an intrinsic video game advertising company, gives a cheatsheet on how brands can and should leverage the gaming space. He believes that gamers should make the advertising immersive, use distinct imagery and be playful yet authentic to their gaming experience.
The advent and improvement of social media has led businesses to reach out to their potential customers and consumers in a more intimate and effective manner. Social media has also provided brands with a medium to advertise and as well sell their products.
This integration of social media and e-commerce makes advertising explore a wider potential to reach out to consumers in newer and more engaging forms. This helps members from different socio-economic categories to buy products and services that match their expectations. It also becomes an effective way for consumers to purchase the product interact and engage with the advertisements.
The Metaverse Potential
Metaverse, without debate, can be prized as one of the most unimaginable innovations of the dynamic nature of technology. Metaverse, in layman’s language, is a virtual world of augmented reality, virtual reality, and 3-D holographic avatars in an environment where in people work, play, and socialize.
If marketers and advertisers can learn about VR Marketing and the Metaverse as a concept and a platform, they will have a competitive advantage over others. Metaverse and advertising in Metaverse is going to bring in a new dimension into consumer understanding, brand communication, and the consumer-brand relationship altogether.
For advertising to be relevant, it needs to match the pace of society and also predict and act according to the future possibilities of the industry in all aspects. Marketers and Advertisers need to learn how to be on top of their game if they want their advertising to succeed and remain effective, relevant, and relatable to the audience. For that to happen, they need to inculcate the habit to predict, observe, understand and analyse the emerging changes that happen around the world which can have a direct or an indirect impact on advertising.
In summary, we can conclude that as technology changes and new concepts come in, advertising will have to keep up to stay relevant. The 5 Advertising trends for 2023 are:
- Targeted Personal Advertising
- Authenticity in Advertising
- In-Game Advertising
- Shoppable Posts
- The Metaverse Potential