1 In 3 Marketers Say the Recession Will Surpass COVID's Marketing Impacts: 3 Data Points to Know The COVID-19 era was notoriously a rollercoaster for marketers, who had to pivot their strategies constantly as the world changed. As if one unprecedented event wasn’t enough, marketers are now faced with a looming recession that’s already having major impacts on their industry. Will the recession shake things up as much as COVID-19 did? While we can't truly predict the future, one-third of marketers think a recession will have an even bigger impact on their marketing activities than the pandemic, while another 33% say it will be about the same. While you should still take the data above with a grain of salt as it is just one of many studies and the economy is always quickly evolving, here are three things you need to know to prepare for whatever the coming months bring: 1. Most Marketer Say the Recession Is Here While the world debates whether the recession is looming or arrived months ago, 78% of marketers say we're already living in it. Marketers are already seeing budget cuts, hiring freezes, and other unpleasant effects. At the same time, their plans and goals for 2023 are constantly being adjusted as the economic situation progresses. For a deeper dive into the macroeconomic reasons marketers are being hit so hard, check out our blog post on how the recession is already impacting marketers. 2. 67% of marketers expect an economic slowdown for more...

3 Consumer Behavior Predictions for 2023 Every year, consumers spend differently than the year before. This is because their preferences are evolving, their priorities are shifting, and their behaviors aren't quite how they were before. So how are marketers supposed to meet their expectations in the new year? By making data-informed predictions. To help marketers and business professionals prepare for the road ahead, we conducted a bi-annual survey of 600+ U.S. adults in January 2023 known as the State of Consumer Trends Report to learn more about the latest consumer trends and data. Here, we'll share our top three biggest consumer behavior predictions based on HubSpot Blog Research. Consumer Behavior Predictions for 2023 1. Consumers will buy products on influencer recommendations over alternatives. HubSpot Blog Research found that 17% of social media users bought a product based on an influencer’s recommendation, and this number goes up to 32% among Gen Z. Additionally, 27% of social media users follow virtual influencers. Online word-of-mouth marketing is infectious, and brands that acknowledge the power of influencer recommendations have a lot to gain in 2023. For example, Olipop, a new soda alternative company, has a large presence on TikTok. Using the strategy of influencer marketing, the newly popular brand has amassed over 180,000 followers, stemming from the positive reviews of the company's product flavor range, and health benefits over choosing traditional soda. Image Source Consumers want to trust the recommendations of people they relate to, so if they see people...

The 4 Biggest Consumer Behavior Shifts of 2023 Your marketing strategy can't stay stagnant if the people you're selling to are changing their behavior — you have to adapt and learn how to cater to them. Marketers should look for observable differences in buyer behavior to continue meeting their needs. To help marketers and other business professionals make more data-informed decisions, we've conducted a bi-annual survey of 600+ U.S. consumers to better understand how adults spend their money. Using HubSpot Blog Research from our Consumer Trends Report, we'll explore the nature of the biggest consumer behavior changes between May 2022 and January 2023 so that you can keep up. Biggest Consumer Behavior Shifts 1. Consumers are warming up to purchasing products through social media apps. In May 2022, only 12% of consumers preferred purchasing products through social media apps like Instagram Shop or Facebook Marketplace. In the past three months, 41% of social media users have shared that they feel comfortable purchasing on social media platforms. That behavior shift is astounding. More than ever, social media marketers are more likely to impact consumer behavior by sharing content that builds interest and trust through these channels. HubSpot Blog Research also found that the most popular social media platforms, Facebook, Instagram, YouTube, and TikTok, are the most preferred platforms for social shopping. Social shoppers also say Instagram and Facebook have the best in-app shopping experience. These apps have very easy-to-use shopping interfaces, and it's plain to see why...

2022 Marketing Benchmarks: Web Traffic and Conversion Trends for 150,000 Businesses In 2022, the marketing world continued to evolve. Not only did we get the ability to shop directly on our favorite social media apps, but we also began to hear lots of the futuristic buzz around AR/VR, the metaverse, and Web3 development. As we move into another unique year, marketers might wonder if and how other companies in their industry are keeping up with everything going on. To help marketers like you keep a pulse on how other brands are doing, HubSpot analyzed data from 150,000+ companies. In this post, we'll note the three key marketing themes we discovered and how they could impact you today. Want a full view of how the bigger business performed and what you can do to keep your company up? Read our full-year Business Data Recap on the Hustle Blog now. About this Data: These insights are based on data aggregated from 130,000+ HubSpot customers globally between July 2021 and September 2022. Because the data is aggregated from HubSpot customers’ businesses, please keep in mind that the performance of individual businesses, including HubSpot’s, might differ based on their own markets, customer base, industry, geography, stage and/or other factors. 3 Marketing Data Themes We Saw in 2022 2022 Web Traffic Struggled to Outpace 2021 In 2021, much of the world was still reopening following the worst of the pandemic. And, although people were starting to get out of the house and disconnect...

How to Answer "Are We in a Recession?" to Your Marketing Team As we embark on the new year, marketing managers and project leads will determine their strategy for the first quarter based on the big question, "Are we in a recession?". Typically, a recession is considered two consecutive quarters of negative gross domestic product (GDP). The U.S. entered a recession in the Summer of 2022, but according to the Bureau of Economic Analysis, GDP actually grew slightly at 2.6% in Q3. So while we can't fully confirm that we're going to be in one again, we know that your marketing team is looking to you for answers. In this article, we'll provide industry insight into the current state of the economy and best practices for marketing leaders to better address employee concerns. Are We in a Recession?: Marketing Leaders and Data Weigh In To see what brands think about the current economy, we used Glimpse to survey 300+ U.S. marketers to ask them if they think we’ve entered a recession in detail. 1. Do you think the U.S. economy is in a recession? Marketers overwhelmingly (78%) say the U.S. is currently in a recession. This comes as no surprise as many marketers are already adapting strategies in response to changing consumer spending habits. Let's go through some of the sentiments behind their answers. Reasons Why We Might Be in a Recession Consumers are spending less and exercising more caution and discretion. People...

How Marketers are Navigating Q4: Traffic, Lead & Email Data from 150K+ Brands If you're a marketer, it's likely been a very – odd – Q4! On top of racing to the finish with end-of-year reports, campaigns, and project memos, you're also in the thick of annual planning for the new year. And, to add one more complicated layer to the mix, many marketing teams are waiting in the balance to see how our uncertain economy and the continuance of unprecedented global events will impact their work. While we don't have a crystal ball, our final analytics report of the year aims to give you an insightful glimpse of how industries are performing in Q4, and help you make the most informed decisions for your brand as 2023 begins. Without further adieu, let's dive in. About this Data: These insights are based on data aggregated from 158,000+ HubSpot customers globally between November 2021 and November 2022. Because the data is aggregated from HubSpot customers’ businesses, please keep in mind that the performance of individual businesses, including HubSpot’s, might differ based on their markets, customer base, industry, geography, stage, and/or other factors. Mid-Q4 Marketing Themes Overall Themes With seasonality – which we began to see in our last recap – in full swing, industries linking to retail, travel, and leisure are seeing unsurprising month-to-month upticks in conversions, leads, and even traffic. Meanwhile, industries like construction – which are often less active during the end of the year and in uncertain financial...

5 Third-Party Cookie Alternatives Marketers are Already Using Marketers and third-party cookies -- can you name a better combo? A few years ago, you really couldn’t. But with Google phasing out third-party cookies in 2024, marketers are busy searching for new strategies to collect user data. While 2024 might seem far down the road, over half of marketers say their company is already exploring alternative targeting solutions. And that isn’t surprising, because 85% of marketers say their marketing activities are reliant on third-party cookies to some degree, and 77% say Google phasing out third-party cookies will make marketing more difficult for them. So let’s look into exactly which solutions marketers are turning towards as a replacement for third-party cookies and the unexpected impact it has on marketing budgets. Which Third-Party Targeting Alternatives Are Marketers Exploring Of the 54% of marketers who say their company is exploring alternative targeting solutions, more than half are looking into using social media for targeted ads as a replacement for third-party cookies. Collecting first-party data from their customers is another top strategy, as is Google Topics API. Let’s take a quick look at each of these. Using Social Media for Targeted Ads Social media offer advanced targeting tools to get your ads in front of your target audience. With the rise in popularity of social shopping, tapping into platforms like Instagram is a powerful way to reach consumers - especially Gen Z and Millennials: Collecting First-Party Data from Your Customers First-party...

The Crisis of Disconnection: Why It’s Time to Rethink Your Growth Strategy This post is a part of The Crisis of Disconnection, a thought leadership series examining the latest research and insights to uncover how businesses can meet their growth goals, even amidst unprecedented changes to the way we work. If there’s a topline takeaway from the research that prompted us to call The Crisis of Disconnection by name, it’s this. The growth challenges you faced in the last decade won’t be the growth challenges you face in the next decade. If you’ve been following along, we’re glad you’re back. If you’re just joining us now, we’re glad you’re here. To recap, here are four things keeping the savviest leaders we know up at night: Businesses once in hyper-growth mode are now struggling to grow. One in three businesses are already citing “slowed growth” as a top challenge going forward. Painfully high expenses and increasing costs are leading businesses to re-evaluate their software spend, the tools in their tech stack, and how that impacts their bottom line Tried-and-true methods for generating demand are becoming less reliable and more expensive. Nearly two-thirds of businesses agree that sales engagement is struggling more now than pre-pandemic. 81% of businesses agree that COVID-19 has fundamentally changed the way we live, work, and connect — and “the new normal” is still largely TBD. You’ve seen the data. You’re tracking the trends. But how will The Crisis of Disconnection manifest in your business? Disconnection in...

Are Seasonality & the Economy Impacting Marketers in Q4? This time each year, nature – as well as marketing – slows down as we head into colder seasons. As we enter Q4, marketing departments are preparing for a slowdown in business that comes as people tune out towards the end of the year. But, while seasonal change is expected and inevitable, this year's economic shifts might cause some marketers to worry that this year could bring a flurry of poor numbers. As you see dips or bumps in early Q4, you might wonder, "Is my marketing department experiencing seasonality or an impact of outside events, or are our numbers solely based on the work we've been doing?" To help you gather evidence that proves or disproves the possibility of outside impacts in Q4, here's a look at how businesses across industries entered the first month of it in October. About this Data: These insights are based on data aggregated from 158,000+ HubSpot customers globally between July 2021 and October 2022. Because the data is aggregated from HubSpot customers’ businesses, please keep in mind that the performance of individual businesses, including HubSpot’s, might differ based on their markets, customer base, industry, geography, stage, and/or other factors. How Marketing Metrics Are Shifting (or Staying the Same) in Early Q4 To learn how metrics were shifting, we looked at data from sample sizes of 120,000+ businesses. Overall, we're seeing that most inbound marketing metrics are down year-over-year. Luckily, the good news...