Marketing in 2023: Navigating Uncertainty with Ingenuity and AI The year 2023 is shaping up to be a pivotal year for marketers, with
technological innovation and data privacy taking center stage. As marketers navigate economic uncertainty and changing customer preferences, they must embrace the power of AI, humanize it, and prioritize customer trust to build enduring loyalty and achieve ambitious goals.
As we enter the fourth month of 2023, the world is abuzz with technological innovation, and it's unfolding at a breathtaking pace. Every industry is gearing up to tackle the challenges that the year has in store, with
marketers leading the charge. Breakthroughs in AI and marketing technology, coupled with first- and zero-party data, will be key to overcoming the anticipated economic slowdown. Let's dive into the factors that will shape this exciting journey. In these times of uncertainty, marketing teams will be faced with the task of delivering extraordinary results with fewer resources. The impact of
inflation on customer confidence will demand greater creativity and efficiency. But don't despair, because this is also an opportunity to achieve ambitious marketing goals through ingenious strategies and tactics. Customer retention will be of paramount importance, as it's always more cost-effective to retain existing customers than to acquire new ones. Loyalty programs offer an affordable
and highly effective way to reward your most devoted clients. By engaging personally and building relationships with them, you'll nurture a strong sense of loyalty, which translates to long-term business success. Email and mobile marketing will continue to be powerful tools in your arsenal. However, to ensure meaningful connections with your customers, it's essential to maintain your
tried-and-tested marketing strategies while also exploring new opportunities. As mobile-driven programs gain relevance, they'll become more sophisticated and personalized, enabling you to stand out from the competition. In this rapidly evolving landscape, understanding data privacy is crucial. As new technologies emerge, there's always the risk of security vulnerabilities being exploited by
hackers. As a result, government scrutiny of internet companies will increase, and businesses must stay ahead of the curve to address public and political concerns. The European Union has set a precedent with its General Data Protection Regulation (GDPR) in 2016. While the United States currently lacks a comprehensive national law governing data privacy, state-level legislation is gradually
taking shape. Although critics argue that these state-level regulations may not be as robust as GDPR, major internet companies like Apple and Google have already implemented new privacy measures in response to consumer demands for greater transparency regarding their data usage. The shifting data privacy landscape will inevitably disrupt many marketers' current practices, pushing them to
rely more on first- and zero-party data sets. However, these changes also present fresh opportunities, giving users greater control over their security and online activities. As AI becomes increasingly prominent in marketing strategies, businesses must adapt to maximize its potential benefits. One way to facilitate consumer acceptance of AI is to humanize it. By using only zero- and
first-party data with user authorization, brands can eliminate the "creepy" factor and build customer trust. Assuring customers that AI adheres to the same data privacy rules as human employees can pave the way for AI to become a highly effective personalized sales associate, advisor, or customer service agent. Another challenge to consumer trust in AI is the issue of bias. Marketers often
exacerbate AI bias by segmenting customers into a limited number of inaccurate categories. However, advancements in AI technology are addressing this issue, providing new opportunities for audiences that may have been previously misclassified. By delivering individualized marketing content based on behavior rather than characteristics like age, gender, and location, marketers can reduce bias and better adapt to the evolving preferences of their customers. AI-driven personalization can also eliminate human error, freeing up marketing teams to focus on strategic and creative projects. This tailored approach fosters stronger relationships and long-lasting value for both customers and brands. By remaining receptive to feedback and adjusting their tactics accordingly, marketers can ensure their strategies are always aligned with customer needs. Adaptability will be the key to success as we navigate the uncharted waters of 2023. By harnessing the power of AI, staying informed on legislative changes, and respecting your customers and their data, marketers will be well-equipped to overcome uncertainties and cultivate enduring customer loyalty. In this era of rapid innovation and transformation, the possibilities are endless. Embrace the challenges, seize the
opportunities, and let's make 2023 a year of growth, success, and positive impact. |
All the news you need today, in a format that isn't TL:DR, summarized for the busy executive.
Ford's latest marketing campaign under the "Built Ford Proud" tagline is shifting away from traditional tactics to focus on the people behind the wheel and their passions. The campaign features partnerships with actor Sydney Sweeney, stunt driver Dee Bryant, and surfer Kai Lenny, each of whom will appear in
their own commercials and launch initiatives connecting Ford to their interests. The move signals a shift by Ford to integrate more emotionally driven messaging into its marketing, with activations spanning social media, connected TV, limited-edition merchandise, and CRM content. The campaign comes as Ford seeks to highlight underrepresented groups and trademarks the "Built Ford Proud" slogan. Despite Meta Platforms CEO Mark Zuckerberg's efforts to reduce the number of middle managers in the company, it has rehired Nick Grudin as a veteran manager to oversee its relationships with media companies and creators. Grudin left Meta to join Dapper Labs, an NFT startup, seven months ago. He will resume his previous position and report to Justin Osofsky, who is the head of online sales, operations, and partnerships for Meta. This
move indicates that the company continues to hire more middle managers despite the CEO's intention to cut back on them. Toyota has dropped support for an app that allowed users to operate Amazon's Alexa in their cars via smartphones in its 2023 models of popular car models, including the RAV4, Prius, and Corolla. Toyota is phasing out
Alexa integration from the rest of its lineup in the coming years and is now focused on improving an in-house voice assistant launched last year. Toyota is considering integrating OpenAI's chatbot, ChatGPT, into the assistant. This move is a symbol of the challenges facing Amazon's voice assistant, Alexa, which has fallen short of Amazon's goal of creating the next big platform in tech. Even onetime believers in the technology say innovation has stalled on Alexa, a sentiment that has grown since
ChatGPT came out in November. Artificial intelligence (AI) and machine learning (ML) are two different things, with AI programming computers to complete tasks that usually require human input, and ML being a method where computers sort through data sets to learn about certain things and make predictions. The more data a machine has, the better
it can identify distinctions in data. While the terms AI and ML are often used interchangeably, the main difference between the two is that AI is a general system with cognitive capabilities, while ML is how systems sort through data sets to build intelligence and cognitive-like abilities. AI includes ML, but not all AI is ML. There are several applications of AI and ML for businesses, including recommendations and algorithms, image search, sentiment analysis, and speech recognition,
which can bring benefits such as improved data analysis, efficiency and time management, and fast solutions. Cosmetics brand Lush Cosmetics has announced that it will cut its ad spending with big tech companies, including Google, by a third due to concerns about their ethical credentials. The move is part of a larger goal to cut its
spending with Big Tech companies. Lush's Chief Digital Officer, Jack Constantine, cited recent controversies, such as Meta whistleblower Frances Haugen going public with concerns about ethical issues, and a shift toward advertising on social media as reasons for the decision. Lush stopped operating its Facebook, Instagram, TikTok, and Snapchat accounts in 2021, citing concerns over a safe environment for their users. Pay TV provider DirecTV and Newsmax have reached a multi-year distribution deal after a months-long carriage dispute between the two. The 24-7 news channel was pulled from DirecTV on January 25 due to disagreements over licensing fees. Newsmax accused DirecTV of trying to stifle or censor conservative viewpoints, while DirecTV claimed Newsmax was trying to extract unreasonable fees for its
lower-rated network. As part of the agreement, Newsmax will return to DirecTV, DirecTV Stream and U-Verse systems. DirecTV will also continue to carry other news channels, including CNN, Fox News, MSNBC, News Nation and The First. TikTok CEO, Shou Chew, is set to testify before the House Energy and Commerce Committee to address concerns
regarding the app's data privacy and security, real-world harms from online activities, risk of foreign content manipulation and minor safety. Chew plans to follow in Facebook's footsteps and tout TikTok's efforts to address these issues, including $1bn spent on trust and safety and over 40,000 people working on these issues. However, given the app's Chinese origins, the US government remains concerned about national security risks and the potential for Chinese propaganda on the
platform. The debate surrounding TikTok's future is complex, with implications for US politics, geopolitics, markets and advertising. The mindset of seeking professional development is a powerful force that can attract clients, partners, and associates. Continuing education and training after entering the business world can pay huge
dividends by increasing your skill sets and making you a more valuable professional. Participating in professional development activities is also a great way to grow your business network and establish professional relationships. To make professional development and learning a habit, establish a clear action plan with defined objectives. As you begin to see the results of going the extra mile to grow, your motivation will increase, positively affecting everyone around you. Mobile app fraud in programmatic advertising campaigns has only increased in recent years despite the use of fraud verification vendors, according to a report by FouAnalytics. It revealed how the app names and domain names were strings of letters and numbers and many were clones of each other, complete with adware SDKs to generate fraudulent
ad revenue. The report suggested programmatic ad buyers should take a closer look at their placement reports and fraud vendor reports and seek out suspicious mobile apps and add them to their block list. Apple's privacy changes, which were instituted last year, are leading to unsold video advertising inventory on iOS. According to Binda
Patel, the director and head of client success for Connatix, iOS traffic comprises 64% of traffic but only 48% of impressions or revenue. Meanwhile, Android makes up 36% of ad requests and 52% of revenue. Advertisers are struggling to monetize the 66% of traffic that comes from audience targeting, which doesn't work in iOS environments. To solve the problem, Connatix has developed a product called Deep Contextual, which targets videos by context rather than audience segment, allowing advertisers
to deliver more precise targeting. Google, Adobe, and Bing have all launched new AI content creation tools, aimed at making content creation faster and more efficient. Google's Bard, an AI language model, allows users to generate text by inputting prompts. However, Google has warned that the model is still in its early stages and may
occasionally produce false information. Adobe's Firefly is a family of generative AI models that can add new image elements to designs, generate stylized text, custom vectors, brushes, and even edit text-based videos and 3D models. Lastly, Bing has launched Stories, an AI image generator that can create both written and visual content from one platform, trained on the latest DALL-E models. These tools can make content creation much more efficient, making it a good time to be a content
creator. TikTok and Google have both issued new policies on synthetic media, or content created using AI. TikTok has said that creators must mark content that contains realistic scenes created using AI as "fake," "not real," or "altered." Google has said that it won't penalize AI articles per se, but that content must be helpful and
meet content guidelines to avoid penalties. SEOs may need to develop valuable inputs and prompts and provide good sources of information to continue optimizing content effectively. Adding AI automation disclosures to AI-heavy articles could help keep a domain in Google's good books. |
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Meet Mary Gilbert, a trailblazer in the B2B marketing
industry with almost 30 years of experience under her belt. As the Chief Marketing Officer (CMO) of Folloze, a buyer experience platform that helps marketers build personal relationships at scale, Mary has become an expert in leading digital transformation and navigating the ever-changing market landscape. Throughout her career, Mary has worked with big-name global brands like Microsoft, Cisco, and Intel, as well as start-ups and scale-ups in diverse industries such as cybersecurity, healthcare,
and future of work technologies. READ ENTIRE STORY
THE PRICE OF A ‘GOOD DEAL’: AD FRAUD IN THE DIGITAL AGE. But here’s the thing – people don’t care about ad fraud because they want to get “good deals.” Just like how people want to buy cheap counterfeit handbags, advertisers want to buy low-cost ads. They don’t care if the ads are fake or if they’re not shown to actual humans – as long as they get to show off their large quantities of impressions and clicks to their bosses. READ THE FULL ARTICLE
COLLABORATION IS KEY: UNLOCKING THE POTENTIAL OF FIRST- AND SECOND-PARTY DATA
STRATEGIES The age of relying on third-party data for media buying may be coming to a close, but don't count out the power of collaboration just yet. Data clean rooms (DCRs) have emerged as a popular avenue for brands to uncover valuable insights, but they're not the end-all-be-all solution to marketing strategies in the face of a looming recession. While a DCR can help match audiences and allow brands to... READ MORE
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