During times of economic hardship, innovation tends to take its largest strides.
In 2023, challengers will come to market looking to displace incumbent brands with disruptive propositions that respond to the speed of change.
Yet, despite the need to maintain spend and keep front-of-mind, blanket messaging optimised for reach will not always win.
Issues such as the cost-of-living crisis affect cohorts of the population differently, and tapping into these consumer groups at the community level, with tailored and timely messaging that strikes an emotive, sensitive or humorous tone, will perform the strongest.
All of this change points towards winning strategies that will leverage long-term creator partnerships on social; those who become the consistent, relatable face of your brand during tough times, who authentically speak to your diverse target audience, and ensure you come out of the recession with more trust, salience and loyalty than before.
For creators, finding routes to give their audiences exclusive access and taking ownership of their IP will continue to make strides forward.
While NFTs and the blockchain have received a lot of hype, the technology that sits behind them opens endless possibilities for the creator economy. The year ahead will be the year that proves some of these use cases.
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