Latest Intake from SMB News 🥵🗞️
Interestingly, a trend of small businesses hiring during lay-offs has been noticed recently. Additionally, Alberta reinforces the scene by announcing funds specifically allocated for economic expansion. Not to forget, Wix announcing its integration with Meta for Business Owners is a cherry on top. Let’s dive in further on how to maximize these developments for your business marketing.
Fueling Social Media/Content Expenditure 💰
Social media has seamlessly woven into the fabric of small business marketing strategies. In 2023, it is forecasted that small businesses will increase their expenditure on social media content. This signifies investing more in generating content that is customized for social media platforms. Creating content that is engaging, informative, and visually stunning is of utmost significance now, more than ever.
Shrinking Ad Spend 🔻
Surprisingly, ads no longer produce anticipated results. Traditional billboard ad campaigns and magazine features are not rendering returns on investment that equate the significant spends. Instead, people are more drawn towards content that seems less promotional. Time to bid adieu to costly ad campaigns that do not deliver value for money.
Small businesses are expected to shift their focus to creating organic content that directly communicates with their customers. Showcasing your brand’s unique personality through shareable, eye-catching content is the way to go.
Video Content & Tutorials Taking Center Stage 🎥
It’s showtime! Video content is revolutionizing the small business marketing arena. 2023 anticipates businesses to generate more video tutorials that demonstrate their products or services in a captivating and instructive manner. So gear up, roll cameras, and let the world see your brilliance!
Rise of Social Media Influencer Campaigns 👥
Influencer marketing, earmarked at a whopping 21.1 Billion for this year, is not reserved for large brands anymore. Small businesses can grab a slice of this pie too! Collaborating with social media influencers aligned with your brand can help you reach a broader audience. Be it Instagram stories or YouTube videos, influencers can help you generate buzz around your brand that cannot be ignored.
The Comeback of In-Person Events 🎉
The year 2023 witnesses a resurgence in in-person events after three long years of encumbrance to virtual meetings due to a pandemic. Small businesses are utilizing events to provide their audience with a more immersive and unforgettable experience. This can range from pop-up shops, product launches, or community events. Hosting in-person events can help businesses connect with their customers on a personal level and cultivate a sense of community.
Wrapping Up
The small business marketing dynamics evolve continually. Businesses need to adapt to these changes and adopt innovative strategies like increased social media spending, decreased ad spend, video content showcasing, social media influencer campaigns, and hosting more in-person events to create a personalized and immersive experience for their customers. Ultimately the thriving businesses will be those that leverage these trends to drive growth and success.
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Tags: #SmallBusinessMarketing, #MarketingTrends2023, #SocialmediaMarketing, #InfluencerMarketing
[Reference Link](!https://www.linkedin.com/pulse/5-small-business-marketing-trends-follow-2023-roseline-kapongo)