“Content content content!” this seems to be one of the most used words doing the rounds of social media. More so, during the pandemic when people had a lot more time in their hands, and they started experimenting with content, designing, editing, visual art, 3D design, etc.
The people started posting content on social media and they soon came to have a massive following. There were a couple of reasons behind it. One was more time in hand, since everyone was working out of home and two the ease of access to the internet.
The internet data charges in India are relatively cheaper than most of the other countries and this makes the internet more accessible. More access means more people joining the online world and consuming more content on a daily basis.
Most companies or brands have their marketing departments in place who take care of their marketing needs in order to improve their distribution and increase their reach but with content taking prominence in today’s time and age, most brands will soon have a position called ‘Chief Content Officer’ in the times to come.
The reason is simple: more than half the population of India is glued to their phones and using the internet, both for personal and professional purposes. With content consumption on the rise, content companies coming up, and people creating content increasing, everyone now realises the importance of good content.
When we speak of content, one of the other terms that we’ve often been hearing is ‘influencer marketing’ and this is heavily reliant on the funding saga that start-ups raise.
The influencer marketing industry in India stood at Rs 12 billion in 2022 and it is expected to touch Rs 28 billion by 2026. As per reports, the most purchased products endorsed by influencers was clothing.
It may seem new now but influencer marketing has been there since a lot of years. We do remember celebrities endorsing products through TVC’s and social media, right? That’s also a part of influencer marketing. In fact, consumers are likely to buy a product endorsed by their favourite influencer because they feel a sense of belonging and connection with them. As per reports, sponsored content on Instagram surpassed 6 million in 2020.
With such an increase in both content consumption and content creation, brands are slowly realising the importance of influencer marketing because they can see the results on the basis of the metric set by them. As per a 2022 global survey of marketing agencies and brands, 39% stated they invested 10-20% of their marketing spend on influencer marketing. As the trend seems to be positive, most brands and companies will now begin to think of hiring chief content officers to lead their content strategy and marketing as creators have the required subject matter expertise to create the best form of content. They know what might work and what might not which helps them frame a good strategy for the brand to create content. Interestingly, short form video content has been on the rise and this has been adapted by a lot of brands in their content strategy as the human attention span seems to be declining.
In addition to having full-fledged marketing teams working on increasing their distribution, brands will look to create content themselves for their own social media to build their in-house distribution. Additionally, they might hire nano/micro influencers to create content for them so that they may leverage creators’ brand.
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