Looking Ahead to 2023

Looking Ahead to 2023

I cannot believe it is November already and this month is closing at record speed. Where did 2022 go? For many businesses, 2022 was an improvement over 2021 and we are all trying to forget 2020. A large number of innovative marketing approaches aided in business success. While inflation and remaining supply chain issues dampen the outlook for 2023, there are some exciting marketing trends that one cannot overlook. These trends will encourage businesses to continue spending levels as they utilize some of these new developments.

Successful companies recognized the value and return on print marketing and increased spending with their printers in 2022. Let’s start with some printing industry statistics so we have an understanding of the size of that industry.

  • Over 25,000 businesses in the US specialize in commercial printing
  • These commercial printers record $900 billion in annual revenue
  • Nearly 72% of businesses use direct mail to generate sales to the benefit of commercial printers

Print marketing will remain strong in 2023. It has proven to be a successful approach to attracting and retaining customers. Individuals give greater credence to company messaging when they commit it to print. A big part of print marketing is direct mail, this is an area that has significantly expanded in 2022 and is projected to continue in 2023.

Those businesses incorporating direct mail into their 2023 marketing program can find exceptional rewards by considering the following areas:

  • Leverage tracking tools to determine realized return on investment – to counter the opinion that direct mail is expensive
  • Speed internal process optimization goals to account for downgraded first-class mail to what equates to second-class service, meaning delivery in three days or more
  • Enhance your direct mail marketing approach to include personalized direct mail, more timely, accurately targeted messaging, and omnichannel marketing.

According to Team Linchpin, “Direct mail marketing campaigns are one of the most basic forms of advertising. These custom designs can be sent through an individually sourced list or included in a packet of offers from multiple companies. Direct mail advertising is a consistently effective form of reaching new customers. There are also obvious benefits for existing and inactive customers. Direct mail campaigns are inexpensive and great for companies to keep their image and services in the public eye. This aspect of printing is expected to continue on an upward trend in 2023.”

Direct mail has expanded beyond traditional boundaries of the past by combining initiatives with omnichannel marketing approaches. Highly successful, omnichannel marketing programs such as Think Patented Mail360 will continue to offer a strong marketing option for businesses in 2023. Mail360 is an advanced marketing-based solution that enhances results through the integration of digital platforms like Google, Facebook, and Instagram. It is designed to seamlessly track the effectiveness of your direct mail campaigns. You can combine your direct mail promotion with digital marketing solutions like Mail360 to increase your results by double digits or more.

Marketing has entered a new era and 2023 will be a year of expanded use of omnichannel marketing — where you can be everywhere at once to capitalize on consumer and B2B buyers’ use of digital devices. The marketing group at Sheridan offers this data:

  • In 2023, the global omnichannel retail market will grow to $11.01 billion.
  • 60% of millennials say they expect brands to provide consistent experiences across every channel.
  • Companies with stronger omnichannel engagement enjoy a 9.5% annual revenue increase.
  • Customers who shop across channels have a 30% higher lifetime value.

For individuals or businesses to engage and buy from your brand, they need to see a positive reputation and a following of satisfied customers that can validate the reliability of your business. This type of marketing can certainly help with better credibility and more trust within your brand.

Email marketing is by far, one of the best marketing methods currently being used in 2022 and will continue in 2023. Ecommerce Fastlane states, “With 89% of marketers using email marketing primarily for generating leads, it’s a trend that will continue thriving into 2023. Almost everyone in the world has an email account, making it extremely accessible for brands and businesses to connect with their customers. When it comes to product launches, it’s beneficial to use email subscriber lists to reach existing customers and those that have perhaps signed up but not bought anything yet. With product launch emails for small businesses, they can help significantly widen the profit margins you make as a business during what is often a critical time for a new company.”

Let’s continue with digital marketing approaches that have proven to be the most effective. Of course, optimizing your website is number one in terms of focusing your attention. Ensure that the information is up to date with an emphasis on messaging that will provide customers and prospects with the critical information and call to action that best supports the brand. Of course, take advantage of website marketing tools such as web optimization, and many more, to gain visibility for your website.

What else should be looked into in 2023? It’s no surprise that influencer marketing will continue to boom throughout 2023.  Statsocial wrote, “As of now, it’s responsible for bringing in on average $5.20 for every $1 spent on this type of marketing. What was once only used by a handful of marketers is now being used by pretty much every business that exists digitally. The influence that some influencers have, whether that’s through Tiktok to Instagram and YouTube, companies collaborating with these users can generate a great ROI.”

Influencer marketing in its simplest form is a collaborative partnership between a brand and individual(s) with influential pull over a group of people. Influencer endorsements carry more weight and can influence their followers’ purchasing decisions compared to more traditional marketing tactics due to the relationships and trust they create. Like any good marketing tactic, its primary purpose is to reach more customers and ultimately increase revenue.

There are four main steps in the influencer marketing process according to Statsocial:

1. Taking an “Audience-First” approach: The first step is identifying who your audience is. After you identify and understand your audience, you can then identify the influencers (both micro and macro) they actively engage with.

2. Reaching out to influencers: You now know your audience and the influencers they engage with; the next step is to reach out and evaluate if the partnership is a good fit for your brand. When reaching out, it’s important to be clear about expectations and what you have to offer the influencer like compensation, free products, or exclusive access.

3. Working with influencers: Your influencer partnerships have been secured and now it’s time to start working with them involving anything from a post about your brand on social media to writing a blog post or article featuring your product or service.

4. Tracking and measuring results: The final step is to track and measure the results of your influencer campaign. This will help you determine whether or not your influencer marketing efforts are successful and enable you to optimize your strategies accordingly.

Businesses should be careful though when it comes to understanding exactly what type of influencers they need for their brand. Marketers can fall short with this type of marketing because they’ve chosen the wrong individuals who don’t have the relevant audience or reach.

Chatbots have made great strides in 2022 and will continue to expand in 2023. “Chatbots have become more useful for marketers and as such, have become another source of investment. They help small businesses and those not operating all hours of the day, to answer queries and engage with customers who might need assistance outside of working hours. A lot of websites are now incorporating this into their business, with chatbots being the fastest-growing brand communication channel,” according to Drift air care products.

The expanding inclusion of design services housed inside printers is another trend that will continue in 2023. Here are some of the new trends for all graphic designers to consider from Pel Hughes Printing and Design lists for 2023.

  • Bold Colors and Backgrounds
  • Serif Fonts
  • Inclusiveness
  • Memes with Branding

There are some large opportunities in 2023 for marketers in all areas covered in this blog post. Take advantage of these to grow your business and drive added success to your marketing campaigns. Return on investment will remain key to your owners and executive staff. Ensure you track your results to determine effectiveness.

Best of success in 2023!

To learn more about 2023 trends that can help your marketing, contact your Think Patented account executive or call 937.353.2299. Think Patented can help you choose what is most appropriate for you and ensure a successful execution.