Money will follow measurement in 2023
A Deloitte study from earlier this year said that India will have 1 billion smartphone users by 2026. With these users rapidly increasing in number, more and more marketers are leveraging mobile marketing for their brands in India. Mobile advertising expenditure in India was recorded at over 160 billion Indian rupees in the year 2021 according to a report.
As app marketers try to woo customers by reaching out to them on their smartphones, areas like mobile measurement and analytics will need greater attention. This will help marketers get the best return on their investments by effectively and efficiently optimising their marketing campaigns in the most user data privacy-compliant, trust-building way.
To guide the mobile marketers into the next year, Simon “Bobby” Dussart, CEO at Adjust, the world’s leading mobile marketing analytics platform, lists down his predictions for 2023.
Maximising marketing efficiencies with centralised data will be a top priority for businesses
At a time when marketers are pressured to be more strategic with their marketing budgets to maximise performance, accurate and rapid decision-making on where and how to most effectively and efficiently allocate that spend can be the difference between failure and success. A unified, centralised approach to data analysis and reporting will likely be high up on leaders’ agendas in 2023. The benefits are twofold. Firstly, having data from all channels and sources, available quickly and easily, in one place, increases productivity and efficiency. And secondly, it’s a great way to reduce a company’s expenses – over the long term – via economies of scale.
Money follows measurement
The economic and industry challenges will make measurement of marketing campaigns and the ability to prove ROI will remain business critical in the new year. eMarketer predicts that mobile advertising will comprise 77% of global digital ad spend by 2024. Therefore, the potential to reach new users is at an all-time high for mobile marketers. Money follows where you can measure. The reason we saw such a big shift to digital in the past decade was because of its measurement abilities, and the same can be said for the shift to mobile.
Katie Madding, Chief Product Officer at Adjust adds her own key trends for 2023 too.
Rise of “citizen developers”
Citizen developers will emerge as a popular way to scale application development beyond traditional means. Complex coding practices will become widely replaced with low-code and no-code tools, enabling non-technical individuals within everyday teams to utilise simpler development formats to build more customer-centric applications. No longer will businesses solely rely on highly educated developers, data scientists or engineers for product development. With the rise of citizen developers, businesses will be able to accelerate product development by training a diverse range of employees who lack formal programming training and expertise. Not only will this movement help combat the rising expectations for fast and rapid product development, but it will also enable these non-technical individuals to be closer to the company’s business goals and customer demands.
Big brands will become ad networks
Big brands, such as Spotify, Walmart and Uber, are now figuring out how to monetize their first-party data, and more brands will recognize the valuable opportunity to become their very own ad network. While aggregated data is the land of the future, marketers and advertisers will continue to make use of their highest-quality users to measure and monetize. In the past, social media giants were the primary providers of advertising due to their vast global user base, but new brands that are commanding a high level of users are entering the arena, recognizing the huge business opportunity ahead to sell advertising and create their own advertising network. Brands with expansive user pools combined with a good opt-in rate will likely succeed, levelling the playing field for what was once a social media-dominated game.
Marketing teams will need to do more with less
Within the marketing arena, we are going from a land where businesses have 30+ tools in their marketing department, to a few sophisticated tools that can do much more across many different channels. In today’s competitive business environment, coupled with a looming recession, companies are unsurprisingly looking to do more with less. This is resulting in a big uptick in investment in automation capabilities, so companies can eliminate the repetitive, manual day-to-day work, allowing user acquisition (UA) and growth managers to rapidly identify anomalies, and focus on wider, value-add activities that allow you to grow your business.