The Top 7 Digital Media Trends CMOs Need to Keep Up With in 2023

The Top 7 Digital Media Trends CMOs Need to Keep Up With in 2023

In the ever-evolving world of digital media, it is crucial for Chief Marketing Officers (CMOs) to stay up to date with the latest trends and technologies. With 2023 just around the corner, CMOs need to prepare for the shifts that will shape the industry in the coming year. In this article, we will explore the seven most vital media trends in 2023 for CMOs, including the rise of connected TV, increased focus on privacy and data regulation, the emergence of 5G technology, the growth of influencer marketing, the expansion of voice search and virtual assistants, the importance of cross-channel marketing, and the emergence of extended reality (XR).

One of the most significant trends that CMOs need to keep up with in 2023 is the rise of connected TV. By the end of the year, an estimated 87% of US households will be using connected TV. This means that CMOs' advertising strategies need to include traditional TV commercials as well as digital ads that are optimized for connected TV platforms. To address a full viewer universe, CMOs also need to work closely with their media partners to identify the most effective ad formats and placements for reaching their target audience on those platforms.

Alongside the rise of connected TV, CMOs need to pay increased attention to privacy and data regulation. With the implementation of laws like the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), consumers are becoming more aware of their rights and demanding greater transparency from brands. CMOs must ensure that their data collection and usage practices are compliant with these regulations to maintain the trust of their audience.

The emergence of 5G technology is another trend that CMOs need to be prepared for in 2023. With its faster speeds and lower latency, 5G will revolutionize the way people consume media on their mobile devices. CMOs should leverage this technology to deliver immersive and interactive experiences to their audience, thus creating more engaging and memorable campaigns.

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

The expansion of voice search and virtual assistants is another trend that CMOs cannot ignore in 2023. With the rise of devices like Amazon Echo and Google Home, voice search is becoming increasingly prevalent. CMOs should optimize their content and advertising strategies to be voice-friendly, ensuring that their brand remains visible and accessible in this new era of search.

In an increasingly fragmented media landscape, cross-channel marketing is more important than ever. CMOs need to create cohesive and consistent experiences across multiple channels to engage their audience effectively. By leveraging data and analytics, CMOs can gain insights into their audience's preferences and behaviors, allowing them to tailor their messages and deliver a personalized experience.

Lastly, the emergence of extended reality (XR) presents exciting opportunities for CMOs in 2023. XR, which encompasses virtual reality (VR), augmented reality (AR), and mixed reality (MR), has the potential to transform the way brands engage with their audience. CMOs should explore how they can incorporate XR into their marketing strategies to create immersive and interactive experiences that leave a lasting impression.

To thrive in the ever-changing digital media landscape, CMOs need to adapt and embrace these trends. Here are three actionable pieces of advice for CMOs to implement:

• 1. Embrace data privacy and regulation: Ensure that your data collection and usage practices are compliant with regulations like GDPR and CCPA. Prioritize transparency and build trust with your audience by being open about how you handle their data.

• 2. Leverage 5G technology: Explore how you can utilize the capabilities of 5G to deliver immersive and interactive experiences to your audience. Consider incorporating technologies like augmented reality and virtual reality into your campaigns to provide unique and memorable experiences.

• 3. Invest in influencer marketing: Identify the right influencers who align with your brand values and target audience. Develop strategic partnerships that go beyond simple product endorsements and measure the effectiveness of your campaigns through analytics and metrics.

In conclusion, CMOs need to stay ahead of the game by keeping up with the top digital media trends in 2023. From the rise of connected TV and increased focus on privacy to the emergence of 5G technology and influencer marketing, these trends will shape the way brands connect with their audience. By embracing these trends and implementing the actionable advice provided, CMOs can position their brands for success in the ever-evolving digital landscape.