Major marketing and social media related trend predictions for 2023

2022 was a year marked by significant changes in trends

We have investigated what the future holds for 2023, focusing on the key trends for specific industries. Today's focus is on five crucial industries: fintech, foodtech, influencer marketing, edtech, and sustainability. These industries are shaping the future and are at the forefront of innovation. Our coverage today provides an in-depth look into each of these industries, and our team will continue to bring you the latest updates and insights in future articles

FinTech

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INFLUENCERS AND THE RISE OF EDUTAINMENT

Back in 2019, Klarna partnered with Snoop Dogg to promote its "smooth payments" campaign with a series of advertisements. The partnership was so successful that the rapper became a shareholder in the company. Today, as fintech is likely to adopt rather sophisticated marketing strategies, it is likely to use influencers. According to TikTok, more than 89% of its users believe finance is an important topic and are actively trying to educate themselves

> The audience of TikTok, particularly the younger generations, is expecting to learn new skills, including financial skills, through engaging and interactive content. This presents a great opportunity for growing EdTech businesses to develop a strategy that leverages the power of influencers on TikTok to reach and engage with this audience

‍> By working with influencers who have a strong presence in the financial skills niche, EdTech companies can tap into a highly engaged and niche audience that is actively looking to learn more about personal finance, investing, and money management. This can help the companies promote their financial literacy courses, apps, and games

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COMMUNITY MANAGEMENT AND TRANSPARENCY; AWARENESS OF DATA LEAKS / ESTABLISHING CREDIBILITY AND AUTHORITY IN YOUR FIELD

According to freshly released data from cybersecurity firm Flashpoint, the financial sector will have the second highest number of data breaches in 2022, trailing only the government. People expect transparency and clear communication as a result, and social media is likely to be the source of this information

‍> When a negative event occurs within a company, such as a major data breach, the public has come to expect clear and transparent communication from the brand on social media. Those companies that are able to effectively communicate and address the issue through social media will likely have an advantage over those that do not
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GAMIFICATION

Gamification is an ideal strategy to educate and engage users simultaneously. It refers to incorporating game-like elements into your marketing strategy

Financial literacy is essential. But only 19% of millennials perceive themselves as financially literate, even though 51% are more likely to use mobile payment apps

> Gamification is a trend that is becoming increasingly popular, and one aspect of this trend is the ability to test gamification strategies within social networks. This can include creating interactive games and quizzes that can be shared and played within social networks, adding an element of fun and engagement to the platform

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FoodTech

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RESURGENCE OF PROCESSED FOODS

With busy lifestyles and a growing demand for convenience, more and more consumers are turning to processed foods for their quick and easy preparation. As a result, we can expect to see advertisements and campaigns that highlight the convenience and long shelf life of these products

BREAKING DOWN OF SILOS WITHIN THE FOOD INDUSTRY

Collaboration between different sectors of the food industry, such as farmers and retailers, will become increasingly important as companies look to create a more efficient and sustainable food system. This will be reflected in the marketing campaigns of these companies, with a greater emphasis on partnerships and collaborations

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/ A GLOBAL AGENDA ON FOOD AND NUTRITION SECURITY with a heightened focus on the nutritional value and social impact of food products. Food safety will also be a major concern, with increased transparency and communication about safety measures in the production and handling of food products
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/ THE FOOD INDUSTRY WILL ALSO SEE A RISE IN FOOD SCIENCE AND TECHNOLOGY, as companies look to meet supply chain challenges and improve efficiency. Expect to see an emphasis on the use of advanced technology and science in the production and preservation of food products
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/ FOOD SUSTAINABILITY will continue to act as a centerpiece of the food industry, with an increased emphasis on environmentally friendly and socially responsible practices such as reducing food waste, using renewable energy, and sourcing ingredients from sustainable sources. These practices will be highlighted in the marketing campaigns of companies that are committed to creating a more sustainable food industry

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> Besides, 2023 has shown that relying solely on big-name, high-budget influencers is not necessary for success in the food industry. Micro-influencers can also add substantial value to it, meaning more food companies will make influencers part of their social media strategies

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EdTech

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REACHING LARGER AND MORE DIVERSE AUDIENCES

The global education market is set to reach at least $10T by 2030 as population growth in developing markets fuels a massive expansion and technology drives unprecedented reskilling and up-skilling in developed economies
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> This will lead to a situation where companies will need to reach more diverse audiences. And one of the main benefits of using social media for edtech marketing is the ability to reach a large and diverse audience. With billions of users on social media platforms, edtech companies have the potential to reach a global audience, which can include students, teachers, and other educators who are interested in their products and services
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‍> The expansion of the edtech industry as a whole, coupled with the need for edtech companies to target diverse audiences, may lead to an increased presence of these companies on social media platforms

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One of the most popular ed-tech models is freemium, and having social media here can be a huge help with CAC costs and testing. Platforms like Instagram and TikTok offer features such as live streaming, which enable edtech companies to host webinars, Q&A sessions, and other interactive events, that can be especially useful for student engagement. Moreover, platforms like Facebook, LinkedIn, and Twitter allow creating groups, communities, and pages, which can be used to build a loyal fan base and foster a sense of belonging
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‍> Social media platforms provide various features such as quizzes, live streaming, etc. that edtech companies can leverage to connect with their audience and even establish a freemium model with minimal investment (i.e., offering free educational outlets)

INFLUENCERS

Social media can be used to leverage influencers to help spread the word about edtech products and services. Influencer marketing is a popular and effective way to reach a target audience, and by partnering with educators or students who have a large following on social media, edtech companies can tap into their audience and reach a new group of potential customers

HypeAuditor conservatively estimates the global influencer marketing market size to grow from USD 13.8 billion in 2021 to USD 22.2 billion by 2025, at a compound annual growth rate (CAGR) of 12.6% during the forecast period. According to an industry study conducted by Hubspot, 71% of marketers believe the quality of customers and traffic from influencer marketing channels is higher than leads and sales from other sources. The use of influencers in the EdTech market is growing as they are seen as a powerful tool to reach new audiences and promote education products and services in an authentic and engaging way

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Sustainability

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CONNECTING WITH PEOPLE OF THE SAME VALUES, CREATING CLOSE COMMUNITIES

Impact on society: 38% of respondents listed a reason encompassing a company’s impact on society, including how fairly it treats its staff (the largest factor in this category), but also things like the stance the business takes (if any) on wider social issues such as environment, race, and gender (Edelman’s global survey)
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> It means that consumers view brands as credible sources of information and expect them to express their views and values on significant issues, as well as the impact of their actions on society, through social media

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#BUYLOCAL MORE HERE:

The "buy local" trend has been gaining momentum in recent years, with more and more consumers choosing to support small businesses and entrepreneurs in their local communities
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The "buy local" movement is also important for driving community growth. Consumers foster a sense of community and a connection to their local area by supporting local businesses. This fosters a sense of pride and belonging while also instilling a sense of responsibility and ownership in the local community
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The pandemic has accelerated the growth of local micro-influencers, as they are able to connect with and promote local businesses, events, and initiatives, and foster a sense of community on social media. They are viewed as trusted sources of local recommendations and have become more valuable for brands looking to reach a local audience

HEALTHY CITIES AND COMMUNITIES GROWTH

Instead of traveling abroad, we will all become tourists in our own cities or countries in 2021. But how healthy is our own city's life? 80% of Flemish cities and municipalities are taking both social and physical measures to improve their residents' mental well-being and quality of life (Gezondleven, 2021): combating loneliness among the elderly, creating more green spaces, and a variety of other initiatives. Consider the City of Ghent, where better air quality and a healthier city are on the way thanks to the low emission zone (LEZ) and the circulation plan, or De Energiecentrale, which provides free renovation advice to all Ghent residents
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> Cities are increasingly focusing on promoting well-being, and utilizing social networks can be an effective way to build strong communities