Both social media and the internet as a whole are ever-changing digital landscapes—and that means the companies that advertise on them must advance alongside them. With new platforms, changing regulations and evolving user preferences, advertising is likely to experience a few changes in the coming new year—but to what extent?
While no one is certain what changes will take place, nine members of Young Entrepreneur Council share their predictions for the future of advertising below, and explain why 2023 could be the year these new trends will start to take shape.
Young Entrepreneur Council members predict how advertising could change in the new year.
Photos courtesy of the individual members.
1. Artificial Intelligence Will Play A Much Larger Role
The future of advertising is AI-powered in 2023. Its use and effectiveness will improve with machine learning, meaning personalized ads for every consumer on the planet. AI will play a bigger role in how brands reach out and understand what consumers want and need from them—all while knowing that each person has different preferences for products or services based on their age, group, gender, lifestyle and more. – Adam Toren, Kidpreneurs.org
2. Ads Will Need To Be Socially Relevant And Value-Aligned
The advertising game really shifted from 2020 onward. Nowadays, there’s so much emphasis on creating content that will fit the consumer’s lifestyle rather than on how to persuade them to buy your product. Not to mention, the average consumer wants to know exactly who they’re buying from and where their money is going. Consumers are more likely to buy from a brand that “aligns with their values” rather than a strong, well-recognized brand. I think this will only expand into 2023. Advertising will require more meaningful, socially relevant and trendy content, which means that your company could quickly fall behind the curve if you’re not agile. In 2023, advertising will need to adapt to consumers more than ever. – Simon Bacher, Ling App
3. Personalization Will Take Center Stage
There are many changes currently taking place in advertising that will continue to shape the industry in the future. One way that advertising will change in 2023 is by becoming more personalized based on the user’s interests. More brands are trying to figure out how they can be the most relevant and valuable to their consumers. The more personalization and relevance advertisers have, the more effective of a marketing tool they’ll become. – Kristin Kimberly Marquet, Marquet Media, LLC
4. Proximity Marketing Will Be A Priority
I think there will be more emphasis on personalized marketing. More specifically, proximity marketing will be a priority. This type of marketing focuses on marketing to the right person at the right time using personalized, relevant content and geopositioning technologies in combination with Bluetooth or near-field communication, geofencing SMS or proximity identifiers. This type of marketing strategy is also ideal for brands that understand their consumers and their buying behavior well. That way, they will know exactly what content can catch the attention of specific customers. The only drawback is that the user will be asked for permission in advance. – Maksym Babych, SpdLoad
5. Companies Will Take Greater Advantage Of QR Codes
One key way I think advertising will change in 2023 is more prevalent use of QR codes. Already, we’re starting to see these used more and more. From Super Bowl ads for crypto companies to funny-looking square stickers on the center of restaurant tables, QR codes simplify mobile engagement like few other marketing tools. This all adds up to some powerful marketing potential, especially for small businesses. Landscapers could slap a sticker on the back of their trailer with a QR code that’s large enough to capture from a couple of car-lengths back. Prospects just point their phone cameras and tap the screen to be transported to a landing page where they can schedule a free estimate. QR codes can even be stored on a phone to make it easier to share a scheduling page, professional portfolio or contact form. – Richard Fong, Disability Help
6. Social Proof Will Become The New Advertising Currency
It’s one thing for brands to spend millions on advertising campaigns; however, current customers telling their peers they had a great experience with your brand will go further toward gaining you new business without the ad spend of campaigns. Social proof is trusted, inevitable and a much more effective way to gain new sales. The psychology is that a consumer feels better about purchasing because a peer has previously purchased the item and had a good experience. Social proof will be the new trend for how customers shop in the near future. – Mary Harcourt, CosmoGlo
7. Companies Will Have To Create Even More Content
There is an increasing emphasis on content production these days—especially going into 2023. Influencers are building their own brands and, in response, brands are becoming content creators themselves. As users increasingly consume more digital media, successful businesses in 2023 will need to produce more of their own content to compete and manage their advertising budgets. By sharing blog posts, videos, photos and more, brands will be able to better optimize their marketing budgets to grow and scale in 2023. – Firas Kittaneh, Amerisleep Mattress
8. Augmented Reality Will Become More Widespread
As we move closer to 2023, it’s safe to say that advertising will continue to change and adapt along with the rest of the world. One way that advertising may change is through the use of augmented reality. Augmented reality has already begun to be used in ads and marketing campaigns, but it is expected to become even more widespread in the next few years. This technology allows marketers to create immersive and interactive experiences for consumers. Augmented reality can be used to show off products in new and innovative ways or to make an ad more engaging. – Pratik Chaskar, Spectra
9. Advertisers Will Need To Grapple With Changing Data Regulations
With data regulations being rolled out state by state instead of at the U.S. federal level, a huge challenge in 2023 and beyond will be data regulation compliance. Brands often rely on third-party data consent tools, but these are often not updated quickly enough to be compliant. Get ready to be challenged with keeping your customer data systems compliant under the shifting sands of regulation. – David Boehl, TravelSite.io
