This post is part of G2's 2023 digital trends series. Read more about G2’s perspective on digital transformation trends in an introduction from Emily Malis Greathouse, director, market research, and additional coverage on trends identified by G2’s analysts.

Times are changing for marketers; now what?

Marketing teams are usually the first to go during a financial downturn, but while some view marketers and their tools as expendable, they can be the saving grace in times of trouble. With companies like Twitter and Meta slashing jobs, citing diminishing ad spend and increased competition as reasons for the cuts, it begs the question of not only if they'll recover the losses financially but if their brand can weather the storm of public opinion.

As a result, practitioners must reflect on the best way to navigate. There is no one right way to “do marketing” but some guiding principles will potentially save time, money, and headaches during crunch time.

Take a look at the trends to come with our G2 data

Less talking, more listening

A lot of questions come to mind when rethinking strategy. A recession or inflation impacts budget allocation regardless of a company's current financial situation. Did the goal go from growth to retention or stabilizing the brand? Whatever the challenges, the best asset to set your sights on is the customer. Using brand intelligence software, practitioners can better assess the landscape and discover what resonates most with their audience. This type of data can also better prepare businesses for an advertising redirect if need be. 

One thing that tends to get cut first is ad spend, usually out of budget panic, but this is not ideal. Stopping digital advertising altogether can cause a decrease in market presence and brand awareness. 

Our G2 data shows an increase and stable uptick in traffic for digital ad tools, which indicates that marketers know and understand the value of ad reach. For example, the Social Media Management category is up 53% from September to October 2022.

Humanizing your approach to social media 

Being honest with your consumer base creates continual trust. A solid understanding of your business perception and telling the hard truths builds solidarity over time. The best way to do this is through channels that are easily accessible and reliable, like social media. It has proven reach and access, so capitalize on the mediums that work best in your industry.

As seen above, there has been a minimal dip in traffic since August 2022 for social media tools. This proves that there is still power behind reaching your target audience on their level through mediums they recognize and trust.

Agility is the name of the game

As any marketing practitioner knows, it can be challenging to share the vision for the future when the future itself is vague. The old adage, failure to plan is planning to fail, can ring true across any industry, but more often than not, there is a higher cost associated with not planning a marketing strategy. 

Regardless of where your leadership team sits on preparation during uncertainty, the main goal should be to create an agility plan. Being agile to change is a skill that should pad your toolbox of marketing prowess. Take this opportunity to understand business goals as well as how current precedence is affecting them. The landscape can change day by day, and having a plan to fit any outcome is what will set the scene for success or failure.

Edited by Jigmee Bhutia