With the economic outlook and situation constantly shifting, many small businesses are adopting more fluid strategies with regard to their online marketing efforts. Trying to remain flexible and adaptable is beginning to look like the sober strategy that must be adopted in order to remain viable. Some recently released data from Hubspot highlights the need to stay flexible and to be ready to pivot. The following comes directly from their published report:
- Nearly 80% of marketers say their industry changed more in the past three years than in the last 50. We surveyed 1,200+ global B2B and B2C marketers on their goals, challenges, and strategies.
- From pandemics to political turmoil – and now a looming recession – the last few years have been a roller coaster for brands and consumers alike. Not only did over half of marketers pivot in 2021, 83% of those who pivoted changed course two to four times in one year.We also found that 20% of marketers have already pivoted due to the potential recession. Chances are 2023 will continue to see shifts around this.
- Not only is short-form video the most popular trend among marketers, with one-third using it, but it’s also the most effective and has the highest ROI. 90% of marketers using short-form video will increase or maintain their investment next year, and 21% of marketers plan to leverage short-form video for the first time in 2023, also the highest of any trend.
- Over 1 in 4 marketers currently leverage influencer marketing and it offers the 2nd highest ROI of any trend. Luckily it can be leveraged with short-form video to take advantage of both of the highest ROI trends at the same time. Influencer marketing also comes in second for the trend marketers plan to invest in more than any other in 2023 and 89% of marketers using it will increase or maintain their investment next year.
- Using social media DMs for customer service is relatively new, but already used by 29% of marketers. It has the 3rd highest ROI of any marketing trend and use will grow in 2023, with 15% of marketers planning to try it for the first time. On top of that, 87% of marketers using social media DMs for customer service will increase or maintain their investment in 2023.
- While not new, leveraging a blog with an effective SEO strategy continues to be a powerful tool, with 29% of marketers using a website to attract and convert leads. Leveraging SEO ranks #4 in terms of ROI and effectiveness and 88% of those who use it will increase or maintain their investment in 2023.
-Written by Kevin Sawyer