2023 Marketing: Embracing social responsibility, agility, AI-driven conversations prevailed
Marketing leaders emphasized influencer collaborations, community nurturing, and Omni channel adaptation as pivotal strategies shaping this year's marketing landscape, according to industry leaders
Sumit Rawat
The landscape of marketing in 2023 witnessed a dynamic shift, spotlighting trends like content integration, CTV, CGOOH, AI infusion, influencer marketing, and programmatic advertising. However, beyond technological advancements, data emerged as a pivotal force shaping marketing strategies this year.
According to Shashank Srivastava, Senior Executive Director at Maruti Suzuki, a significant paradigm shift post-COVID reflected in companies' marketing approaches. The focus transitioned from advertising spend to social responsibility, deeply embedding societal concerns like climate change, emissions, and gender inequality into marketing strategies.
CMO of Marico Limited, Somasree Bose Awasthi, emphasized the year's agility and adaptability, underscoring the evolution of consumer expectations. The FMCG industry witnessed demands for seamless, personalized experiences, urging CMOs to leverage innovative tools to meet evolving consumer needs.
Experts emphasized the burgeoning importance of community building in marketing. Kaushik Mukherjee, Co-founder and COO of SUGAR Cosmetics, stressed collaborative content creation as instrumental in fostering brand loyalty and engagement within online communities.
AI-driven campaigns gained prominence, witnessed in notable campaigns like BOAT’s "India India," and Sunfeast Dark Fantasy’s ‘Har Dil Ki Fantasy’. Abhishek Gupta, CMO at Edelweiss Tokio Life Insurance, highlighted AI's role in enabling strategic creative work and predictive analytics, anticipating real-time customer preferences.
The year also marked a surge in influencer marketing, leading to regulatory bodies like ASCI and SEBI introducing endorsement guidelines. Neelesh Pednekar, Co-Founder & Head of Digital Media at Social Pill, noted the sector's exponential growth and the rise of micro and nano influencers in India.
Omnichannel strategies emerged as a core pillar, necessitating integrated marketing plans that transcend channels, according to Tushar Malhotra, Head of Marketing at Bisleri. The emphasis lies in repeating simple messages across multiple formats for effective communication.
Recognizing Gen Z's influential power, marketing strategists focused on balancing futuristic strategies while engaging existing user bases. Vijay Sharma, Senior Director - Brand Marketing at Myntra, highlighted Gen Z's impact, emphasizing fashion trends blending across generational lines.
The marketing landscape in 2023 remains dynamic, evolving in response to changing consumer behaviors and technological advancements, with social responsibility and community engagement emerging as central pillars.
