Decoding the Age of Content
In light of the booming Content Marketing industry in India, Mindshare and e4m have released the very first Content Marketing Trends report, highlighting the scope and influence of this burgeoning industry. It underlines four key pillars that are enabling content marketing in today’s time – consumers, creators, technology, and platforms. On being asked what urged the team to launch this report, Prasanth Kumar, Chief Executive Officer, GroupM South Asia said, “We witnessed the evolution of content and the consumer’s shifting consumption patterns; and with that, we ensured that we positioned ourselves at the forefront of this wave that content has created. This report is a testament to our intent and preparedness to own the revolution that content is creating.” Here is an overview of the four key pillars and their roles. Consumers Creators Technology Platforms
It brings together professionals from branded content, creator economy, technology, e-commerce, experiential marketing, data analytics, and entertainment to create a holistic document. It is Mindshare & e4m’s attempt at making sense of the madness that content marketing is, in order to enable marketers with relevant information required to build better relations with their consumers. Responding to what one can expect from the report, Amin Lakhani, Chief Executive Officer, Mindshare South Asia said, “What you will see in this document is the most relevant trends. I call this specifically ‘most relevant’ because not everything new might be relevant.” Speaking of the findings, Ajay Mehta, Chief Content Officer, Mindshare said, “We’ve both uncovered and executed these newer codes of marketing through constant culture monitoring endeavours. We’re confident that this is the playbook for success when trying to truly connect with Indian consumers. To all the clients looking to punch ‘Above Their Line’ – Content is the answer.”
This content marketing revolution has allowed the Branded Content Marketing industry to grow to approximately an INR 10000cr. empire. Commenting on the industry’s meteoric rise, Vinit Karnik, Head – Sports, eSports & Gaming, GroupM South Asia said, “ Content marketing is no longer just an option; it’s at the forefront of brands’ marketing strategy. 2024 marks a significant shift towards more personalised, impactful content strategies, reshaping the industry’s future.”
Content consumers are reshaping the digital landscape in the country, spending over 8 hours online daily. In such a scenario, online content is influencing their behaviours, lifestyles, and attitudes. While there are many types of consumers consuming all kinds of content, there are two cohorts that stand out – Gen Z and the Bharat consumers. Naturally, consumers who are the driving force of content marketing are hooked on technology, with 66 percent of them believing that technology plays a seminal role in their lives, helping them to acquire new skills and experiences. There exist multiple distinct aspects of their online lives - such as the Fandom Phenomenon that defines their identities to their enthusiasm for new movie releases and live events.
Further, Tier II + regions, which comprise the Bharat consumers, are changing the language of the internet with their growing preference for and consumption of regional content and short-form videos. According to Google, 60 percent of Indian users are interacting with voice assistants on their smartphones, and interestingly, Tier II + digital citizens are the ones fuelling its growth. There is a growing preference for Indic languages in non-metro cities as compared to metros. OTT consumption in Bengali, Punjabi, and Gujarati languages has started to grow in triple-digit numbers over the last two years. Speaking on this, Sujal Nanavati, Founder, Cosmic Information Technology Ltd. said, “Dialect is the word where the next big wave in the content marketing world is coming from.”
Content consumers have also transformed the dynamic landscape of creator economy in India, where influencers are redefining stardom and wielding the power to shape cultural shifts. Creators have profound impact on audience behaviour and brand strategies. 80 percent of Indians now trust social media influencers for their buying decisions. They are forging genuine virtual connections with their followers, and their impact and influence are undeniable. Commenting on their growing impact, Ashwin Padmanabhan, President - Investments, Trading & Partnerships at GroupM said, “To stay relevant, marketers must undergo a paradigm shift, viewing creators not merely as endorsers but also as storytellers and architects shaping brand narratives.”
Some brands have already made headway in this direction as they are now using influencers in both their digital and mainline communications. Citing examples, it lists influencers Prajakta Koli, Bhuvan Bam, and Dolly Singh in ads for brands such as WhatsApp, Goibibo, Ching’s, and Colgate, among others.
There is also a shift in power dynamics of digital consumption and creation from metros to Tier II. This has given rise to micro and nano influencers – which form 80 percent of the total influencer segment, with double the engagement rate of mega and celebrity influencers.
It also brings up the topic of de-influencers. While influencers are instrumental in promoting and driving sales of products and brands, the reverse is also true. Creators are now also advising their audience on ‘what NOT to buy, watch or use.’ It cites examples of health & nutrition influencer Rujuta Diwekar, and lifestyle influencer Pableen Kaur Bhomrah, who call out advertising gimmicks, deterrent social media trends and duping by brands.
With such rapid changes in the world of advertising, the role of Advertising Standard Council of India (ASCI) is also in focus. ASCI has built and continues to build stringent influencer guidelines to define influencers, codes of practice for advertising content across media platforms and key disclaimers for sensitive content. Mindshare and e4m reached out to Manisha Kapoor, CEO & Secretary General, ASCI for her point of view. “The vast landscape of influencer activities demands a robust monitoring system to uphold ethical standards. Recognising this, ASCI has taken proactive measures. In line with the need to educate the stakeholders, ASCI has introduced educational courses tailored for influencers, advertisers, and media practitioners,” she explained.
Many creators have capitalized on their growing relevance to launch their businesses, thus, creating newer revenue streams. It cites the example of Aanam C., a beauty influencer with a decade of domain expertise. Her cosmetic label ‘Wearified’ surpassed her projected sales from pre-orders for a collection of lipsticks by 150%. Such examples are certainly further expanding the scope of content marketing. Brands should look beyond ‘one-off’ promotions with influencers, and collaborate with them on other 3 Ps of marketing as well - building full-fledged products, their placement, and pricing.
The rise of ‘metahuman influencers’ has been covered too. Metahuman influencers such as Kyra (the first of its kind), are writing a new chapter for brands to target mass premium or premium audiences, most of which are Gen Z and Gen Alpha from Metro and Tier 1 cities.
The driving force of content marketing - technology is ever-advancing, fast-paced, and transformative. Being the biggest enabler for both consumers and creators, it is making it possible for consumers to get bespoke experiences. Technology is playing an especially central role in the bottom funnel content marketing endeavours, allowing video commerce, live shopping experiences, and more.
The role of Artificial Intelligence is in focus here as well, as it reshapes the landscape of content marketing, fuelling creativity, and sparking multi-media magic - from its role in crafting personalised content to its collaboration as a co-creator.
With tech transforming the way brands communicate with their audiences, multiple avenues have opened up. Talking specifically about ConTech – content experiences with tech at their heart, Niraj Ruparel, Head Of Mobile & Emerging Tech - GroupM India & Emerging Tech Lead - WPP India says, “Con-tech’s future appears promising, envisioning a surge in hyper-personalization, expanded use of Extended Reality for immersive storytelling, AI-driven content creation, and even more seamless integration of technology into our daily interactions. The focus remains on delivering captivating, individualised experiences that blur the lines between reality and digital content.”
The acceleration of 5G has also made it possible for brands to experiment in the realms of Augmented Reality (AR) and Virtual Reality (VR). India has more than 130mn. 5G users, and is expected to reach 860mn. by 2029. Brands can now leverage high bandwidths and low latencies to transform content and storytelling by using immersive content ranging from interactive 3D apps to 360-degree videos and much more. Such is the importance of AR and VR that Jio is working towards democratizing their experiences. It is offering VR headset JioDive for INR 1299 or USD 16.
Data plays a significant role too. It is a key factor that helps marketers reach their target audience. Getting access to audience data through several tools such as social media listening, FPD, primary and secondary research, search analytics, etc. is far simpler now. Moreover, there is an abundance of data, which allows brands to tailor-make consumer experiences. But access to data is only the fuel, as this data needs to translate into insights, which then need to translate into content.
Tech has also enabled voice tech. With the help of AI and natural voice synthesis, AI text-to-speech is made possible. A linguistically diverse country such as India needs growth in voice-tech to reach out to a maximum number of people in their local languages. This is a game-changer that will ensure that the content created is not only translated but also culturally and contextually relevant to the target audience.
Consumers, creators and technologies come together on the many platforms where content marketing lives and breathes – the old, the new and the next - from the dynamic landscape of meme marketing, a surge in video commerce, live shopping experiences, and the fusion of brand narratives in the realms of OTT and cinema, to the gaming universe, where e-sports has taken centre stage. These ever-evolving platforms shape our digital existence and redefine how brands connect with consumers.
This section delves into how the role of content has changed from mere entertainment to information, and now it is putting brands into the consumers’ consideration set and encouraging trial too. Video commerce, which is gaining popularity, especially among Bharat consumers, is facilitating commerce through content. Shopping is a social affair often combining simple transactions with an engaging customer experience. Thus, video commerce platforms are becoming the default go-to place for consumers to engage. There are two prominent models for video commerce – shoppable posts on social platforms, and video sections on e-commerce platforms. Once more, influencers play a significant role here, as influencer ads using short-form videos drive 63 percent conversion for brands.
Live Commerce is another platform enabling conversion through content. While in Southeast Asia, Live + video is 80 percent of e-commerce, Live Commerce is still at an experimental stage in India. However, it is expected to grow to $4-5bn. opportunity by 2025. 60 to 65 percent of Live commerce engagement currently comes from Tier II and III. Flipkart and Meesho are the leading platforms in Live Commerce with a conversion rate of 2 to 3 percent.
Tushar Vyas, President, Growth & Transformation, South Asia, GroupM commented on this mentioning, “Immersive content and influencers are becoming powerful tools for brands in India as the market rapidly digitizes, and e-commerce adoption grows. By leveraging these powerful formats, brands can create engaging experiences for their customers, driving sales and fostering long-term relationships.”
OTT platforms with 122 million active users investing substantial time become an important platform for brands to activate too. Brands will greatly benefit from long-term associations with OTT platforms, which will lead to a stronger bond with the audience.
Mahindra Soni, Co-founder, SVF Entertainment & Hoichoi says, “The evolution of audience awareness and sophistication has been significantly influenced by Over-The-Top (OTT) platforms. In the context of ‘in-film’ or in-content branding, the landscape has transformed. Audiences now possess a heightened understanding of brand placements within films and content. Consequently, strategic product placements must transcend mere paid promotions.”
While OTT is all the rage, grand old Cinema too is of high relevance. Box office numbers say that theatrical revenues should hover around INR 12000cr, with regional and Hollywood films achieving remarkable success. Product placement in movies provides a distinctive pathway for brand visibility, and brands will be looking beyond individual films, aiming for associations with movie franchises to extend their reach and capitalize on long-term audience engagement.
Gaming too has found its fame in today’s content world with the Indian gaming universe covering roughly 65% of the total Indian digital audience base. Not just that, gaming is now of equal interest to both the genders too. While the report identifies e-sports and game streaming as fast-growing spaces, it says that unlike online gaming, it is important to understand the challenges underlining non-endemic brand associations with e-sports platforms and build advertising innovation to effectively leverage the opportunity this platform provides.
Lastly, this section highlights the opportunities that the world of sports brings. Annualized cricket tournaments like IPL are a sure-shot viewership driver. Not just that, sport stars like Virat Kohli (with over 260 million Instagram followers), sit atop the social media game, eclipsing his contemporaries in film and sports. Cricketers break through geographical and cultural barriers, offering brands a crucial outlet for mass exposure.
The report, covering all of these in detail and more, is set to launch this Tuesday, 30th April 2024.
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