HOW TO TURN YOUR DIGITAL STRATEGY INTO A BUSINESS GAME CHANGER
An interview with Cesar Lugo, Managing Director, Digital, Ext. Marketing
From the growing influence of TikTok to the emergence of AI-powered chatbots, the digital landscape has quickly evolved over the past year. To help us navigate the digital noise, we spoke with Ext. Marketing Digital Managing Director, Cesar Lugo (CL), to identify which trends demand further exploration. He shared with us why establishing a clear digital strategy can help companies easily navigate these changes and generate the best-possible business outcomes.
Q: How can a defined digital strategy help a company respond to emerging trends in technology?
CL: The digital ecosystem is vast and constantly changing. It’s easy to get swept up in the latest trends, without having a complete understanding of the problem you’re facing and the key drivers that will generate the desired outcome. Your digital strategy should include an audit of your current digital touchpoints, assets and tools; short-, medium- and long-term objectives; success measures; and a digital roadmap that can keep you on track.
A digital strategy is more than just a one-off project or a one-size-fits-all approach. It should reflect a long-term commitment to using digital tools to achieve your business objectives. Defining this foundational framework allows you to make strategic decisions about these emerging trends.
Q: What digital marketing and social media activation trends should companies be aware of heading into 2023?
CL: Here are some trends I believe will be game changers we should all be watching:
- Individuals 45 years old and younger are turning to social media platforms rather than traditional search engines to find the information they need. There’s evidence of the same growth in buying and shopping on these social media platforms.
- It is all about TikTok these days. There were nearly 1 billion active users in September 2022, which is impressive growth from 700 million users in July 2021.1 It will be important to stay up to date on U.S. regulations in the coming year, as lawmakers continue to scrutinize this platform.2
- Short-form or ”snackable” videos are still crucial for driving views and generating richer engagement on social media. However, long-form content is making a comeback with the 25-and-under crowd.
- Artificial Intelligence has grown in relevance in the tech industry, with expectations that it will grow by 23% from 2023 to 2028.3 ChatGPT is just the latest revolution worth exploring. This AI-generated natural language processing tool crossed one million users within one week of its November 30, 2022, launch.4 Spoiler alert: all these solutions will need human involvement to ensure quality and accuracy.
- The metaverse, non-fungible tokens (NFTs) and Web3 are on the horizon. Depending on your industry, these technologies might help your company grow in the future. We recommend you monitor the progress and adoption of NFTs and Web3 within your industry.
Q: How can companies capitalize on those opportunities in 2023?
CL: Most of these emerging trends could be very important to the success of your company. If your digital efforts need to catch up, now is the time to roll up your sleeves and develop a strategy. Establishing an effective digital ecosystem will provide you with the foundation to determine how these trends can benefit your business.
Whether you are increasing brand awareness, generating leads or raising capital, it is important you remember that your digital strategy should be diversified across digital platforms and mediums, and include regular A/B testing to determine whether or not you are achieving your business goals.
Q: What advice or takeaway do you want to leave companies with?
CL: It is important to be nimble and agile so you can respond to change. Digital spaces can open avenues and create a broader perspective on available opportunities, changing circumstances and even better ways to operate.
Contact us today at info@ext-marketing.com to start developing your digital strategy and to respond to the key emerging technology trends of 2023!
1 TikTok reveals U.S., global user growth numbers for first time (cnbc.com)
2 TikTok has become a global giant. The US is threatening to rein it in | TikTok | The Guardian
4 ChatGPT Statistics for 2023: Comprehensive Facts and Data (demandsage.com)
Notes: From an Ext. perspective – these are trends we recommend you watch.