Staying Ahead of the Competition in 2023, Part 2 - Fortune Digi Store

Staying Ahead of the Competition in 2023, Part 2

4 min read

Staying Ahead of the Competition in 2023, Part 2

As we kick off 2023, brands and businesses are looking to get a headstart on the competition. These are tools and strategies that could become real game changers in the coming year. Like most things in marketing it can be first come, first serve… first to succeed.

Adopt early, and adapt often.

1. User-Generated Content

Brands are always striving for authenticity in their messaging and marketing, looking to come across as “real” as they can to their consumers. When someone makes content interacting with a brand’s product, such as an unboxing video or a self review, brands should be taking advantage!

According to research, consumers are 2.4 times more likely to trust user-generated content over brand-created content. You can send surveys asking customers to provide a review after purchasing, running social media contests asking customers to engage with content, or even creating a unique hashtag that focuses on your brand.

2. Third Party Cookies Phasing Out

Google has delayed the removal of the third-party cookie on the Chrome Browser, which means advertisers and marketers are going to need to find a new solution by 2024 to replace it. Other browsers are also moving to phase it out, so alternative targeting solutions are going to be more important than ever.

Other options that will be important to investigate include first-party data collection, such as consumer registration. Google will also have its Privacy Sandbox, which uses APIs to supply advertisers with data on ad targeting, conversion, and more.

3. Micro-Influencers

Though influencer marketing has been around for a while, recent years have seen a shift towards using micro-influencers. These smaller influencers with closer to 1,000 followers are more budget friendly, provide a more targeted audience, and generally show a higher rate of engagement than larger accounts. Tapping into smaller influencers with a more loyal following can be a big win for smaller to medium sized brands.

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