If there’s one constant about the digital marketing industry is that it changes at the speed of light. It can be tough to keep up, but where there is change, there is always opportunity.
In this guide, we’ll share the 5 latest digital marketing trends for 2022 and 2023 to keep in mind as you grow and scale your agency.
Want to know how a $4.5 million per agency scaled rapidly? Check out this guide to scaling your marketing agency.
5 Digital Marketing Trends You Need to Know
TikTok is Becoming a Major Player
If the word “TikTok” makes you roll your eyes so far back into your head that you need to make an emergency appointment with an ophthalmologist, you’re not alone. It took marketers awhile to take TikTok seriously, and now, this platform is a major player.
Top TikTok creators can make 7 figures, and the current leader in the TikTok space is Charli D’Amelio, with over 127 million followers and an estimated sponsored revenue of $638,000 per post. Yes, that’s per post.
Your budget might not support six-figure sponsored posts (yet). What is important be aware of is that you can get a lot of eyeballs on your brand and content at a price that’s on par (and maybe even cheaper) than the more established social media platforms like Facebook and Instagram.
YouTube Is Growing Faster than Ever
YouTube has long been a staple in the advertising space for low-cost views and hyper-targeting options. That pattern is expected to continue, and advertisers are doubling down on YouTube creative endeavors and media buying.
Here’s why: television is becoming increasingly fragmented, and we are turning more and more to mobile screens for on-demand entertainment. YouTube is still a leader in this space, and during the year of the pandemic, the company’s revenue grew 46%.
Still, brands notoriously put YouTube on the back burner and fail to utilize this channel to its true potential. By placing some attention and budget here, you can quickly scale your agency by getting qualified eyeballs on your ads.
Organic Search Engine Ranking is More Difficult
SEO was never easy, but it’s getting more challenging than ever to rank your content at the top of the search engines.
Not only are things more competitive, with seemingly everyone creating content with the push of a button, but Google (which has a 92% share of search traffic) has steadily been shrinking the space that organic content gets in favor of ads.
This makes sense from a profit standpoint for Google, but it makes a digital marketing agency’s job tougher. You can still rank highly on Google – it just won’t be “easy.” Consider optimizing for answer-based content and ensuring you are set up for voice search.
Use the Gig Economy to Your Advantage
As more people take the term “work-life balance” to heart, they look for jobs that give them flexible schedules and earnings. There are currently 40 million gig workers in the United States alone, and if you factor in overseas, that number could easily 10x.
As a digital marketing agency owner, you can take advantage of this burgeoning gig economy. Instead of being forced into lengthy and expensive contracts with talent, you can start slow and hire gig workers for one-off projects.
Hiring gig workers allows you to scale because you don’t need to have several months of employee salaries in the bank. You also don’t have to worry about sick days, time off, maternity leave, 401(k) plans, and health insurance.
Check out this article for more digital marketing agency tips to maximize profit.
Understanding Your Data is More Important the Ever
Collecting and analyzing data has always been critical, but as platforms become more advanced (and privacy concerns make collection more painful), agency owners will have to keep up with what tools are available and how to use them.
For example, Google Analytics recently upgraded its platform to Google Analytics 4. It includes advanced privacy features and integrations with Machine Learning to boost ad performance. Not understanding these developments can leave you out in the cold. However, if you can master these new tools, your agency can reap the benefits.
Scaling to a 7-Figure Digital Marketing
Any driven digital marketing agency owner can achieve the 7-figure mark with some hard work and major elbow grease.
While there are no easy shortcuts, there are some tools, tricks, and hacks that can potentially get you there sooner. We created a valuable (and free) resource: The Seven Figure Agency Roadmap: How to Build a Million-Dollar Digital Marketing Agency. We also discuss these issues on our podcast.