The arrival of Generation Z
Generation Z (born between 1997 and 2012) is entering the job market. They like to do their part for environmental causes and are making more and more choices (especially when it comes to purchasing) based on their ecological and social convictions. Generation Z is now very connected and informed.
Companies must adapt (or even completely rethink) their marketing discourse to a clientele that is now on social media and masters technological platforms with great ease. Who would have thought that TikTok would become a very popular platform for literary recommendations! In concrete terms, the arrival of the Zs means that companies need to develop training plans that are more remote and train their teams on intergenerational issues to avoid problems and take advantage of the differences. Keeping in mind that Zs, however young they may be, aspire to autonomy, to have the choice and to be trusted. Oh, and they have a very relative notion of hierarchy...
The arrival of the metaverse
The "metaverse" is a buzzword that we hear more and more and that belongs, at the beginning, to the video game world. Indeed, video game companies have created virtual worlds in which the user/player/consumer can create an avatar, live his or her life, build buildings and purchase other products. The problem with the growth of these metaverses is the need to purchase virtual reality goggles, as the high cost of this product creates a certain barrier to entry. That said, generations Z and Alpha (the generation that follows) are the main carriers of this technology and companies will have to better understand this reality in order to offer products, services or events that correspond to the new interests of these young consumers.
We will see a decline in face-to-face meetings (symposiums, conferences, congresses) as the new marketing stunts tend to move towards the virtual. We will be talking more and more about "markTech" in the next few years. How brands can really take advantage of this while adding value to their audience (beyond product placement) has yet to be determined. Perhaps this is an option for trade shows, exhibitions or anything event related, as it will be more interesting than current virtual experiences, with the ability for anyone to go to previously inaccessible events, like concerts, exhibitions...
The arrival of advertising on Netflix
Netflix's stock price has declined significantly over the course of 2022, and the possibilities of a potential economic recession will not make the picture any easier. Consumers must make choices, sometimes learning to tighten their belts and perhaps opting for a single streaming service rather than maintaining a subscription to Netflix, Crave, Amazon and all the others. Netflix (like its competitors, for that matter) is exploring new revenue streams by offering packages with advertising as an introduction to its movie productions. In this context, the addition of advertising remains a good thing from a marketing point of view since it allows companies to segment even better the consumers to whom the advertising content will be broadcasted. For example, a customer who loves sports documentaries will be able to receive an ad that is likely to correspond to him: the release of the new NHL field hockey game on his favorite console.
It is important to underline, on the other hand, that the disappearance of the "bouquets" in the subscription offers of generalist television has weakened the economic model of all the actors. This represents additional costs for users (due to the multiple subscriptions to which the consumer must adhere) and encourages them to change their consumption habits between platforms. In short, the cable TV model no longer reigns supreme. So this is an issue to watch.
The coming into force of Bill 25
It's done, Law 25 is in effect since last September, in order to define a framework for data protection and privacy. It reminds all companies that they do not own their customers'/users' data (in B2C as well as in B2B) and that they have the obligation to take care of it. I'm thinking in particular of the "GDRP/RGPD" law (General Data Protection Regulation), implemented in Europe and drastically limiting the use of personal data for marketing purposes (and which served as a model for Law 25). The possibilities will become more and more restricted for marketers who used to be able to target consumers through "remarketing / retargeting" where we can offer a certain product because we know that the consumer has just purchased a similar product on the web.
In short, the ability for a company to know that you are on their site, what you are doing there and the next web page you visit will be a much more complex operation than before, if not practically impossible.
BeReal and "authenticity" on social media
This social network has been all the rage since June 2022. BeReal had over 14.7 million downloads in September 2022 alone! This platform has experienced the highest growth in the history of social web applications. This network is changing the way we think about social media by advocating authenticity through immediacy. Indeed, users can add content to the platform by adding photos or videos in real time and will only be able to access the content of their contacts if they have published content themselves at least once during the day.
Brands will need to better understand the BeReal phenomenon and find clever ways to insert themselves into the conversation. Considering the energy and creativity that this requires, it is likely that it will be those with a budget and a large team that will take the risk, a bit like TikTok.
Conclusion
The year 2023 will certainly be marked by surprises as we witness the birth of new applications, the arrival of a new generation whose behaviors are quite different from the one that preceded it and the need for brands to adapt to these new ways of interacting with technology. This will certainly be a challenge for companies that don't have the financial or structural capacity to reinvent themselves, but an opportunity for a host of brands to expand on the web and still develop larger markets. It will be a great year to follow!
To go further :
Digital Campaigns: Key Steps to Follow
