We have entered 2023 and how! The year has been full of ups and downs across all industries (just as it should be) and content has been in the spotlight most of the time. RRR made it to the Oscars, OTT is still ruling the content-driven entertainment industry and business without content is literally unimaginable. So, how do we ensure that the year ahead is unhindered by yet another pandemic scare; is well-equipped to handle the challenges of the volatile market; and is well-prepared to create new content and embark upon new territories? Let’s take a look, shall we?
Quick Trivia: According to a recent study, by 2025, the influencer marketing industry in India will be worth Rs 2,200 crore.
Creating a personal connection
Brands today are all about being the customers’ friends and family, of sorts. The FOMO is kicking in hard! Trust is one of the primeval factors that has fuelled consumer behaviour over several decades and advertising has moved from traditional form to a more niche approach by tapping into the influencers to speak on behalf of the brands.
Most retail brands are taking the aid of influencers to reinforce trust in the minds of the customers because customers these days are loaded with information (and misinformation) flooding from every platform. For instance, when choosing a babycare product, parents tend to research every brand there is, instead of going for the most popular ones. Mamaearth and Superbottoms are some of the names that have gained immense brand trust because of positive results that have led to establishing a wide base of loyal customers and spreading positive word-of-mouth. The database of these customers, demands to be managed effectively through digital marketing & analytics. That’s where technology comes in.
Tech – Data’s Catalyst
A recent trend on social media where that AI rendered multiple versions of one’s pictures. Today, the same kind of filter is applied to data. The use of data-driven technology in advertising has enabled marketers to curate campaigns based on specific objectives. Ads that work on Google, may or may not work on Facebook or Instagram and this kind of engagement and reach that the brands intend to achieve.
The challenge for the brands, however, would be, the authenticity of the audience, quality of leads, engagement, situational relevance of the campaign and so on.
In the words of the great Ben Parker, “with great power, comes great responsibilities”, technology also comes with a downside of its own. Many brands that want to reach the top by hook or crook, always tend to take a shortcut and ASCI is where their buck stops! Undue influencer marketing just got taxed and there won’t be any freeloaders promoting any brand in the name of free samples. Recently in July, ASCI announced that all social media influencers who receive gifts to endorse brands will be taxed at 10%. It’s not just influencers; even doctors need to produce proof of the free samples given to them for sales and promoting a brand while filing their taxes.
Video content is the future
In-stream videos, short videos, reels… video content has us hooked and there’s no denying that videos are the way forward. There’s a long way ahead for the world to adapt to the Metaverse and the ever-evolving platforms and algorithms will ensure that the brands get maximum reach and business. Brands are going to invest highly in this platform and the potential RoI.
At 3 Dots Design Pvt. Ltd., we always have an eye on the latest trends and developments in the industry. Being one of the best ad agencies in Pune, we offer comprehensive branding and marketing solutions to national and international brands ranging from real estate, healthcare, retail and more. If you wish to know more about who we are or what we do, please visit www.3dotsdesign.in or get in touch with us at firstname.lastname@example.org