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New Year’s resolutions serve as a way to set your intentions for the year. You may not reach the lofty goals you set for January 1st, but it’s a reminder of what you wanted to achieve that year. It’s great to work toward a goal regardless of when it’s finished. (And if you’re one of those who got their New Year’s resolutions by February, well, good for you.)
With the new year fast approaching, we wanted to capture the New Year’s resolutions marketers may have set for 2023.
Digiday spoke with six marketers. We reached out to over 25 people, but few pushed through with the request, citing slow planning in the unpredictable first quarter of the economy. Here’s what the marketer wants to change in his 2023.
Consistent measurement
It’s no surprise that marketers want better measurement in 2023. Proving the validity of your advertising budget has always been important, difficult, and has become even more important with the changes to privacy following the iOS 14 update.
“[Measurement is] It’s the crux of everything,” said Zola CMO Victoria Vaynberg. “The sheer number of platforms and their shortcomings — it’s getting harder and harder to understand the effectiveness of your campaigns.”
Vaynberg continues: It’s really challenging and I feel like there’s no standard in the industry. ”
Economic uncertainty, ongoing privacy shifts, and their ramifications have certainly contributed to marketers’ greatest desire to improve measurement in the new year.
Mastercard CMO Raja Rajamannar said: “Not only will it help prove ROI to executives, but it will also prove to the business that declining marketing investments is bad for the business.”
When asked what she expects to improve in 2023, NHL CMO Heidi Browning added, “Everything,” adding, “As our industry adapts to changing technology and privacy laws, This is going to be an interesting year, and we also need consistent measurement and ROI case studies to validate our investments in the Creator Economy.”
Metaverse and Web3 Ambitions
Improving measurement and justifying ROI also allows for new investment opportunities such as Web3 and the Metaverse, two topics marketers expect to continue to talk about in the coming year.
“2023 will be an important year for establishing effective measurement of early platforms and technologies like the Metaverse,” said Rajamannar. “This is critical to understanding our impact and considering future investments as part of the broader marketing mix.”
For now, the marketer says he’s focused on researching Web3 and the Metaverse, but it remains to be seen if he actually intends to do so. Marketers have long said there aren’t enough use cases to build a foundation for.
“As a marketing industry, we need to keep exploring, experimenting and learning what works,” said Rajamannar. “The looming economy can make marketers nervous about investing in new platforms, but my advice would be to understand the basics of all emerging technologies, and to develop a few technologies such as AI and the Web3. It’s about prioritizing, monitoring the ecosystem, and being able to make quick adjustments if necessary.”
According to Barbara Messing, chief marketing and employee experience officer at Roblox, it’s a similar strategy at Roblox, with executives focused on connecting with Generation Z. “We also enable our developer community to expand their work with brands, share their expertise, and build virtual items and high-quality immersive experiences that users can enjoy around the world,” she added.
Social search and safeguards
Brand safety issues with social platforms have resurfaced as a top concern for marketers in recent months, especially for Twitter, which has been hijacked by Elon Musk. Marketers said they hoped the platform would curb misinformation and play it safe.
“Social platforms have received a lot of scrutiny from advertisers,” Rajamannar said, adding, “We need to think carefully about how to minimize reputational risk and work together as an industry to play it safe. ‘ added.
Another place for CMOs to explore is TikTok, determining how to take advantage of the user-favorite search feature.
“In the end, we saw how well search worked on TikTok and how valuable it was,” said Vaynberg. “These are the two things he best understands and my determination is how to become a wedding expert for everyone looking for specific wedding content.”
Build on what works
As well as recognizing the search potential on TikTok, marketers are leaning toward content strategies that work well on TikTok and younger generations, and will continue to prioritize them in the coming year.
Fit Body App CMO Lia Habermann said: It’s important to resonate on the platform. “Because we had to create everything in-house, we were forced to have different options, such as reaching out to customers who posted about us, or hiring UGC creators and influencers. became.”
Some marketers are looking to take their creatives to a new level in the new year. We’re trying to find ways to stand out while building on what has worked so far.
“My resolution for the business next year is to be a little more confident,” said Duncan Blair, CMO of consumer furniture brand Article. “Throughout our history, we’ve been a little reluctant to let the product speak for itself and shout how great we are… [we’ve] I have earned the right to speak more boldly.”
Blair added that it could be timely for brands to use bolder creatives with more direct messaging. “Generally, quality furniture is very expensive,” says Blair. “What resonates with people is that we are delivering great value. As we enter 2023, the economy looks uncertain, but I think we can be a little more bold and confident. We have a real opportunity.”
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