In 2022, video marketing to lead the live commerce advertising trends

It is a no brainer that digital media will follow the steps taken by Covid in the last two years, he said. But he doesn’t agree with those who squeeze all digital into one slot.

Digital is vast and diverse – from over-the-top (OTT) streaming services to social media to e-commerce. The way people use and type on these platforms is very different.

Tier 2 and Tier 3 cities are witnessing a lot of growth in social media. OTT has increased, but commerce is the big deal, he said. While the facility will drive huge growth for commerce, it will not just be regular commerce. “It is expanding into social commerce or live-streaming commerce. So, whatever you are looking for and you want to buy it, you can buy it. That’s where the complete shock will take place.”

Sam Thomas, senior vice president of OMD India, concurred. He predicted a tremendous growth in video consumption- be it OTT, YouTube or gaming. He added that with everyone shopping online during the pandemic, there has been a marked increase in e-commerce and e-wallets.

But it’s innovation in video marketing it’s betting on — both through short-video apps like Roposo, Moz or Spark, and social commerce apps like Trail. “They allow one click on products for purchase. Perhaps, you can accomplish that with the video being played on the side,” Thomas said, adding that the trend will become a huge opportunity for brands across multiple apps.

And digital agencies are taking advantage of this growing opportunity. “Traditional agency mentality was previously only to play a role in the topmost funnel, where one was focusing purely on creating awareness and that’s where it ends. But the new age agency needs to play a role in the funnel. Where once we have created awareness, we need to consider closing the loop and converting the possibilities into brand consumption. Clearly, commerce is a strong part of the digital agency set-up for Dentsu. part. It includes everything- materials, technology and operations, he said.

To be sure, a new study by consulting firm Accenture states that China will remain the largest social commerce market for the next three years, with India and Brazil seeing the highest growth rates.

Another big forecast for 2022 by Thomas is on the “flow” of augmented reality (AR) and virtual reality (VR) in advertising. Wadhwa also agreed that any digitally active brand needs to be proactive on the AR-VR front. “But it has to be more integral and relevant to a brand than just being cool.”

Of course, television will be resilient despite digital developments. Wadhwa said that when there is a need to create public awareness, nothing works as strong as TV. Thomas hopes to drive more content between TV and streaming to attract viewers and advertisers. In 2021, Viacom 18’s marquee show Bigg Boss first launched on Voot and then went on TV. “I feel brands who could not afford Bigg Boss on TV got a chance to grab assets on digital. It will be a trend for other shows,” he said.

In addition, it is expected that huge sums of money will be spent on advertising a lot of startups – especially the unicorns that India has created. In 2021 alone, at least 44 unicorns were born. Industry estimates suggest that India could be home to around 70 startup unicorns. They are splurge on advertising and marketing armed with an annual budget 100-200 crore to acquire customers and gain market share, Thomas said.

Lastly, the stories that brands tell may change slightly due to the growing opposition to advertisements. “We need to be sensible. Whether it’s the brand, the people, the movies or the series, everyone is a little bit cautious about what they put in. Still, you couldn’t be more cautious, and the edges are perfectly fine.” Take it off because it will become too boring or unrelated,” Wadhwa said.

Shuchi Bansal is the Media, Marketing and Advertising Editor of Mint. The Ordinary Post will look into the pre-assembling issues related to these three. Or just fun stuff.