With budgets decreasing for consumers and faith being lost in big brands, 2023 is the year that small business fights back. In the UK, 99.9% of companies are classed as small to medium-sized enterprises, showcasing how receptive audiences are to unique brands.
At Kopa Marketing, our passion for digital marketing started from our desire to elevate small local companies to successful online playing fields. Whether it’s harnessing the power of paid advertising or focusing on clever SEO, we believe that small businesses can outperform their bigger counterparts.
With 80% of customers preferring to shop with a small business, now is the time to put a professional touch on your marketing to ensure you stand out for all the right reasons. Keep reading to see our top trends for 2023 and to understand further how small business stands to make a significant impact.
Why Are Customers Looking to Shop Small in 2023?
Thanks to the cost of living crisis and the after-effects of the global pandemic, things are changing faster than ever. This leaves consumers feeling reluctant to spend and needing familiarity when making purchases.
Small businesses offer just that, which is why they will thrive in 2023 and beyond. Other reasons that we think the future is small are the following:
- The trend for small companies that fill consumer needs continues to increase, which suits modern consumers. From delivery services to companies that provide solutions to modern issues, small businesses hit the nail on the head when it comes to filling marketing gaps.
- 62% of people say they trust small businesses, which directly impacts sales and brand perception.
- 63% of shoppers prefer to spend money with local companies, which means that small businesses offer the solution people want.
What Are the Top Marketing Trends for Small Companies in 2023?
Marketing AI refers to the automation that can be used to leverage data models and software to provide data that is essential for creating a competitive advantage. For small businesses, managing campaigns smartly without spending too much time or energy on the subject is important. In 2023, harnessing AI tools will allow companies to improve competitiveness and spend more wisely on advertising budgets.
Working more intelligently also relies on having automation software properly configured. This includes marketing tasks such as social media posting and bidding on advertising campaigns so that time can be spent working more reactively. Marketing automation can improve productivity by 28% and sales by 33% for each company.
Social media is now about more than just sharing messaging; it is also a viable shopping platform that should be addressed. 82% of people choose to shop on social media apps which suit well-positioned small businesses perfectly.
We think that shoppers will continue to use this as a method of purchasing as it is easy, suits busy lifestyles, and can be carried out in direct correlation to a successful brand post. This means that social content and associated listings need to be perfectly positioned and SEO to stand a chance at securing the attention of willing consumers.
Copywriting and Storytelling
As consumers choose to shop small, it means they will want to know more about what companies offer. Therefore, updating copy and messaging to include more dynamic forms of storytelling will be a key marketing trend for 2023. This helps consumers build connections and allows companies to refresh their marketing positioning, considering shopping habits likely to be the norm for a long time.
Focus on Customer Retention
With people looking to spend less, retaining customers will become more important than gaining new ones. Instead of putting budgets into attraction campaigns, nurturing relationships will give customers the sense of safety they are looking for when choosing to spend their disposable incomes.
Marketing activities that will feed into this include social engagement campaigns, email marketing, and loyalty/subscription programmes.
Do You Need Help with Any of These Marketing Tools?
Please get in touch with us today to find out how we can help your small business. We have been supporting smaller companies for several years now and have witnessed first-hand the changing landscape of small businesses.
This could pose a threat or issue for some, given the lower consumer spending. But for us, we see it as a golden opportunity to make more money than ever before.
What do you think the top trends for 2023 will be?