Consumer Trends March 2023

Trends shift so very quickly in our society today. It’s important to stay on top of what’s hot and what’s not in the advertising world. Every few months we do a dive into what is important to consumers and the trends that they’re following. Here is what we found as we’re about 4 months into the year so far.

1.     Uptrend in social media commerce: Millennials and Gen Z want brands to be where they are and apparently that’s on social media. 50% of adults in the U.S. have already taken advantage of social media commerce and that’s expected to grow (Future of Commerce).

2.     Search engines are still at the top for consumers discovery of new products: HubSpot survey shows that 44% of people still use search engines to discover new products over others. In store comes in at number two with 41%.

3.     Consumers want video content: HubSpot’s survey indicated that it’s important that the video be authentic. This really doesn’t come as a surprise to us. Do I hear sourced UGC advertising anyone?

4.     Adopting cost-saving habits: 96% of PwC’s Global Consumer Insights Pulse Survey either have already or plan to within the next 6 months. It makes sense in the U.S. with financial uncertainties looming.

Staying up with trends is key to understanding how to effectively market to your audience. If social media commerce is up, it’s time to make sure your brand is taking advantage of shopping on social. Consumers want authentic, short-form video content. Give the people what they want in your advertisements. If your target audience is cutting back on spending, how can you let them see that what you have to offer them as a brand is necessity? What problems in their lives can you, and only you, solve?

Trending: The Importance of Keeping Up with Industry Trends

Trending [tren-din] adjective: 1. Emerging as a popular trend. 2. Widely mentioned or discussed on the internet, especially on social media websites (dictionary.com). This popular term is quite new, but we’ve all heard it by now. Being a successful brand leader in your industry means being adaptable and open to change. This is why following what’s trending is important. It helps your brand understand your customer’s needs to serve them better, and if they’re happy, you’re happy. Following trends can help your business forecast the future of your industry through the use of data analysis. Seeing current trends can help you predict future trends and you won’t even need a crystal ball. You will also be perceived as leader in your field and build credibility. A brand that is not afraid of change is one that is perceived as an authority and highly respected. Be an innovator, not a follower.  If your brand keeps up with popular trends, it will help the business grow by coming up with new business and branding ideas through the consistent learning of new information. More tools for your toolbox, so to speak. This, in turn, can lead to new opportunities and conversations, where you’ll be able to take part, since you’re in the know. Don’t get caught up in awkward conversations where you don’t know what others are talking about. That’s no fun and quite embarrassing. As a brand, you can see why it’s important to stay up with current trends but how do you do it? Well, there are many ways so here are a few to get you started.

1.     Network. Regularly meet with people in your field. Conferences are great or even just a coffee with an industry connection to catch up.

2.     Social media. See what your customers are doing. Get an idea of what they’re thinking to understand their wants and needs.

3.     Sign up for email lists & publications. This is almost always sure to have current information about what’s going on in your brand industry. The more you read, the more you know.

4.     Trainings and webinars. Take advantage of these in your industry. It’s important to constantly keep learning for your business to stay relevant and successful.

5.     Keep up with competitors. What are they up to? Who are they targeting and what are they selling currently? Look at their website and social media to find out.  

Trending. Not just a cool catchy term that young kids use nowadays. It is actually important to businesses as you can now see why. Don’t get left behind in old-school methods that may have outgrown your brand. Following trends isn’t just about being hip with the cool kids. It’s about understanding your audience on a deeper level and growing exponentially as an industry leader.

Trending Video Marketing Investments

As we always say here at Locomotive, video content is King! It continues to be the top way to market to brand audiences. However, there are so many different styles of video marketing to consider now, so what types are brands investing in this year? Here is a quick list of our top three trending video marketing styles that brands are investing in.

1.     Short-form video. According to HubSpot, 58% of marketers use short form videos. Out of all video types this one provides the best ROI. Short form generally means anything under a few minutes. It should also be noted that the average engagement for short-form videos is around 50% (Wistia).

2.     Social media video. 93% of social media marketers say that it’s a vital component of their strategies and 85% of consumers say they want more videos on social from brands according to  Sprout Social. Give the people what they want and watch your return on investment increase.

3.     Long-form video. Long form video can be anywhere from 3-6 minutes long. One would think that longer videos see less engagement but that’s up for debate. YouTube is a great example of where longer form videos excel with a high ROI. Long form video creation has increased by 446% for videos between 30-60 minutes long and 228% for videos between 5-30 minutes long (Wistia).

Video marketing will always be the top way to achieve and retaining a successful marketing strategy for your brand. If your brand isn’t already investing in the power of these video marketing tools listed above, get on it quick. Staying up to date with current trends will keep you at the top of your game! And remember, User-Generated Content reigns.