It’s an excellent time to look back at the macro-level trends that we observed in 2023 as we enter 2023.
These are some trends I think have some staying power that you should consider when building your 2023 search engine marketing strategy.
1. Slow economy, increased efficiency
In case you didn’t know, the . That’s not a joke. Although I received a degree from the University of Michigan in Economics, it is not clear how much longer this recession will continue.
Nevertheless, many digital marketers already feel the benefits.
- Budgets are getting tighter.
- The teams are becoming more efficient.
- These questions, such as “What is the ROI?” and “What is the CPA?” have become more common.
This environment is difficult to navigate, and I don’t know all the solutions.
But, I always recommend that you start by looking into your data. You should have an in-depth understanding of the top performing tactics so that you can maximize your investments there.
A metaphor I frequently use is that of a team playing in the playoffs. A coach will put the best players on the field for as long as they can, especially when it is crunch time. The bench will be occupied by players in their development stages.
This same mentality should be applied to search strategies. Prioritize the strategies that will bring you the highest return if your budget is tight.
Many of you are probably thinking, “Yeah! Thanks for stating what is obvious.” However, when I refer to consolidating to a , it’s not the same thing. You should instead:
- Examine the performance of different segments in your campaign.
- Know what audiences, geos and times of the day/days are most important to achieve maximum performance. Invest in those segments.
- To more efficiently skew spending toward top-performing combinations, you might consider creating a more detailed campaign plan.
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2. Automation vs. autonomy
The debate began well before 2022. But, last year’s heated debate was a little more intense.
Machine learning is becoming stronger, and it will be integrated into campaigns management platforms.
To be successful in 2023 you need to best to meet your stakeholder objectives.
Consider how you set up an automated bid strategy . The process includes providing an algorithm with specific guardrails to ensure it operates between -and- toward. Your results will be more aligned with your goals if you give the best inputs.
This mindset must be applied to AI applications in campaign management platforms more generally, I believe.
Automating foundational tasks reduces the amount of resources needed. However, it is still necessary to direct the automation to achieve our business goals.
Think more tactically about the datasets that you are able to include. These algorithms will use the data you provide to make recommendations and optimize your inputs.
Also, consider what control levers are necessary and how you can let go of them by using machine learning to optimize your situation.
Finally, you should consider how are structured to enable the automation to work best.
The complexity of your strategy will determine the balance between autonomy and automation.
Advertising professionals who are able to understand the importance of this balance for their businesses will reap the benefits.
3. Microsoft is on the Rise
An article such as this would not be complete without at least one “edgy” opinion. Get ready, people!
Microsoft’s updates last year have been very impressive to me. Microsoft has expanded not only their advertising offerings, but their geographical reach to about 70 additional markets.
Microsoft Advertising is known for its lower prices and similar features to Google. However, we’re starting to notice some uniqueness (e.g. Multimedia Ads).
We must be honest, I don’t expect a major shakeup of search engine market share. If you’re not looking at Microsoft Advertising innovation possibilities, this might be the right time.
It is a good environment for testing and many of their innovations can improve conversion rates.
In budget-constrained settings, it is worth looking for ways to improve conversion rates and cheap CPCs.
B2B marketers will find this recommendation particularly pertinent, since Microsoft Bing has been an engine that we’ve seen strong engagement from. This could be due to work-related research.
The staying power of search marketing in 2023
It’s a great time to work in search marketing. It’s difficult to keep up with the many updates from search marketing platforms.
The most effective tool in digital marketing’s arsenal is search marketing. There are very few places where people can express their interest as clearly as search.
While I have highlighted some of the key trends, you should consider many more in this fast-paced sector as you plan your 2023 strategy.
These opinions are not necessarily those of Search Engine Land, but they do reflect the views of the guest author. Here are the names of staff authors.
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