How digital transformation is driving innovation & reshaping the industry

The year 2023 has started on a rollercoaster note, with an accelerated adoption of generative AI, AI chatbots, and digital innovations. This is bringing in new operational efficiencies, stronger strategies, a far greater emphasis on building deep bonds with various stakeholders and consumers. In keeping with the current market ecosystem, technology and a human approach are seen as going hand in hand.

As part of our annual TRENDING NOW series, Adgully has been approaching key industry leaders to Crystal Gaze into 2023 to highlight the major trends and developments that they see dominating the industry in the year ahead.

In conversation with Adgully, Roshan Kunder, Head Marketing & E-commerce - India at NAOS (Bioderma), speaks trends like Digital Transformation, Influencer Marketing, Video Marketing, Voice Search, Artificial Intelligence, Privacy, and Data Protection, that will dominate the industry in the year ahead.

Key trends dominating the industry in 2023

A few key trends that I see dominating the industry in 2023 are Digital Transformation, Influencer Marketing, Video Marketing, Voice Search, Artificial Intelligence, Privacy, and Data Protection.

Each will have its impact on the industry:

• Digital transformation will continue to drive innovation and reshape the industry. It will enable businesses to adapt to changing market conditions, reach new audiences, and improve efficiency through the adoption of digital technologies.
• Influencer marketing can be an effective way to reach new audiences and build brand awareness. Companies that collaborate with influencers will be able to leverage their reach and influence to promote their products and services.
• Video marketing is already popular, but it is expected to become even more important in 2023. As more consumers prefer video content over other forms of content, businesses will invest in creating high-quality videos to engage their audiences.
• As voice assistants like Amazon Alexa and Google Home become more prevalent, businesses will need to optimize their content for voice searches. This would mean creating content that are answers specific questions and is optimized for natural language.
• Artificial intelligence (AI) will play an increasingly important role in marketing in 2023. Businesses will use AI-powered tools to analyze data, automate tasks, and personalize customer experiences.
• With increased concerns around data privacy, businesses will need to prioritize privacy and data protection in their marketing efforts. This means being transparent about data collection practices and complying with regulations like GDPR and CCPA.

Major expectations from 2023

Increasing demand for digital skills: As digital technologies continue to advance, there will be a growing demand for workers with skills in areas such as software development, data analytics, and cybersecurity.

The continued growth of the Internet of Things (IoT): The IoT market is expected to continue growing, with more devices and sensors being connected to the internet, creating new opportunities for businesses and consumers alike.

Greater focus on data privacy and security: With increasing concerns about data breaches and cyber attacks, there is likely to be a greater emphasis on data privacy and security measures, such as encryption, multi-factor authentication, and network segmentation.

Key focus areas for NAOS (Bioderma) in 2023

• At NAOS India, our primary objective for our Bioderma brand is to enhance brand recognition and increase awareness through the utilisation of digitisation. We strongly believe that digitization provides a powerful tool for brand building, enabling companies to reach a wider audience and engage with customers in novel ways, ultimately leading to the creation of brand loyalty and awareness.
• Our investment focus will be centred on establishing a robust online presence, exploiting various digital marketing channels, producing valuable and relevant content, utilising data analytics to guide our brand strategy and adopting cutting-edge technologies to further our brand-building initiatives.