The Top 7 Digital Media Trends CMOs Need to Keep Up With in 2023: Influencer Marketing, Connected TV, and More

The Top 7 Digital Media Trends CMOs Need to Keep Up With in 2023: Influencer Marketing, Connected TV, and More

In the ever-evolving world of digital media, it's crucial for Chief Marketing Officers (CMOs) to stay ahead of the curve and keep up with the latest trends. As we approach 2023, there are seven key media trends that CMOs need to pay attention to in order to enhance their advertising strategies and stay relevant in the industry.

First and foremost, the rise of connected TV cannot be ignored. By the end of 2023, an estimated 87% of US households will be using connected TV. This means that CMOs must adapt their advertising strategies to include traditional TV commercials as well as digital ads that are optimized for connected TV platforms. By doing so, they can effectively tap into the vast potential of this medium and reach a wider audience.

To successfully navigate the world of connected TV, CMOs need to collaborate closely with their media partners. Together, they can identify the most effective ad formats and placements for reaching their target audience on these platforms. It's essential to address the full viewer universe and ensure that the ads are displayed in a way that captivates and engages viewers.

While connected TV is undoubtedly a game-changer, CMOs must also pay attention to the increased focus on privacy and data regulation. With consumers becoming more aware of their digital footprint, regulations surrounding data privacy are becoming stricter. CMOs need to ensure that their advertising strategies align with these regulations and prioritize consumer trust and data protection.

Another significant trend that CMOs should keep in mind is the emergence of 5G technology. As 5G networks become more widespread, they will revolutionize the way we consume digital media. With faster speeds and lower latency, CMOs can leverage this technology to deliver more immersive and interactive experiences for their audience. From augmented reality ads to real-time personalized content, the possibilities are endless.

Influencer marketing has been steadily gaining popularity over the years, and this trend is set to continue in 2023. More and more brands are partnering with social media influencers to promote their products or services. In fact, an estimated $6.16 billion is expected to be spent on influencer marketing in 2023 alone. CMOs should consider how they can leverage influencer marketing to reach new audiences and build brand awareness. However, it's essential to be strategic in selecting the right influencers and measuring the effectiveness of their campaigns.

In addition to the rise of influencer marketing, CMOs need to pay attention to the expansion of voice search and virtual assistants. With smart speakers and voice-activated devices becoming increasingly popular, optimizing content for voice search is crucial. By incorporating voice search optimization into their advertising strategies, CMOs can ensure that their brand is discoverable and accessible to voice-activated users.

Moreover, cross-channel marketing has become more important than ever. Consumers today interact with brands across multiple platforms, from social media to email marketing. CMOs need to adopt a holistic approach by creating a seamless and consistent brand experience across all channels. By integrating their advertising efforts and delivering a unified message, they can maximize their reach and impact.

Lastly, the emergence of extended reality (XR) is a trend that CMOs can't afford to ignore. XR encompasses virtual reality (VR), augmented reality (AR), and mixed reality (MR). By leveraging these immersive technologies, CMOs can create unique and engaging experiences for their audience. Whether it's through VR-powered product demonstrations or AR-powered try-on experiences, XR has the potential to transform the way brands connect with consumers.

In conclusion, staying on top of the latest digital media trends is crucial for CMOs to remain competitive in the industry. By incorporating influencer marketing, optimizing for connected TV, embracing 5G technology, leveraging voice search and virtual assistants, adopting cross-channel marketing, and exploring the possibilities of extended reality, CMOs can elevate their advertising strategies and connect with their target audience in meaningful ways.

Actionable Advice:

• 1. Conduct thorough research and analysis to identify the most effective influencer marketing strategies for your brand. Select influencers who align with your target audience and measure the impact of your campaigns to ensure a positive return on investment.

• 2. Collaborate closely with your media partners to optimize your advertising strategies for connected TV platforms. Experiment with different ad formats and placements to find what resonates best with your target audience.

• 3. Embrace the power of immersive technologies like augmented reality and virtual reality to create unique and memorable experiences for your audience. Explore how these technologies can enhance your brand storytelling and engage consumers on a deeper level.