According to INCA-e4m Influencer Marketing Report 2022 India’s influencer market is valued at Rs 1247 crore in 2022. This is a massive 42 percent increase from over Rs 900 crore in 2021 and is set to reach Rs 2,800 crore by 2026. Read what are the experts are anticipating in the thrill-a-minute social media space in 2023.
The year 2022 saw a surge of creators dominating social media trends in the marketing and advertising arena through the short video platform content, meme marketing, pop culture references and use of technology — with augmented reality (AR) making its presence felt. These trends are set to dominate on a larger scale in 2023.
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“2022 witnessed deeper penetration of technology in the realm of content. Driven by algorithms, and analytics, personalisation based on the metrics, AI-powered content creation made significant impact. Virtual influencers and content for the ‘Verse’ came alive and kicking. Brands and marketers experimented with these new creative playgrounds which were welcomed with growing curiosity, intrigue and excitement,” said Aashutosh Katre, Director, Yellow Seed.
There has been a tremendous expansion in the Indian influencer market in 2022. According to INCA-e4m Influencer Marketing Report 2022, India’s influencer market is valued at Rs 1,247 crore in 2022. This is a massive 42 percent increase from over Rs 900 crore in 2021 and is set to reach Rs 2,800 crore by 2026.
What can be expected from 2023?
The language barrier is cracking, and 2023 will see a bigger hole in it with several brands creating content in regional languages. Brands are realising the importance of engaging with their audience in a language of their comfort, said Katre.
So, according to him, localised and contextualised regional content, which will enable a better connection with the audience, will be rising in 2030.
Focusing on regional content in the Google For India 2022 event, the company announced that soon, YouTube content will be available in multiple languages. The users will be able to change the audio language within a YouTube video to either English, Hindi, Marathi or Punjabi.
Additionally according to a Google KPMG report released in 2027, 70 percent of the Indian population find content in the local language more reliable while 88 percent of Indian users are more likely to respond to a digital advertisement with content in a regional language.
Memes and shorts
A lot of big brands used memes and short form video content to market and create content in 2022 because this is what speaks the most to GenZ. Marketing shifted from IGTV and YouTube video collaborations to YouTube Shorts and Instagram Reels.
According to Jaidev Kesti, Co-Founder and Chief Distribution Officer of meme marketing company Wubba Lubba Dub Dub, short videos, use of live streaming and pop culture references will dominate the trends in 2023.
Kesti added that with most social media platforms having their own short video avenues, it would be interesting to see what they’ll do to differentiate themselves. Also Twitter’s new strategy under Elon Musk’s leadership gives food for thought.
“It is also likely that there will be a wide range of different formats and content types that become popular in 2023, as internet users continue to find new and creative ways to share ideas and humour online. In terms of scale, it is difficult to predict how many people will participate in any given meme trend or viral trend, as this can vary widely depending on the specific trend and the platforms it is shared on,” said Kesti.
Shorter and more high quality content
Additionally the videos might even become shorter in 2023. According to Vivekanand Kilari, Chief Creative Officer & Co-Founder, Wubba Lubba Dub Dub, the trends in 2022 were short-lived. Each trend lasted a maximum of 2-3 days compared to 2021, which was 5-7 days. Hence it can be said that creators might resort to more quality content in shorter duration to get more interaction.
This was something that was also seen in 2022, with creators resorting to making videos of under one minute duration showcased in a lot of ‘under 1 minute challenges.’
“I feel 2023 entails a lot of fast-paced and edited heavy Reels with everyone focusing on quality. Just like YouTube, high quality Instagram content also tends to do well,” said digital content creator Dipraj Yadhav.
Meanwhile, creating content for the masses, only to be picked up by Reels could also see a massive boost. A lot of songs like Chaand Baaliyaan by Adiya A, Manike Mage Hithe by Chamath Sangeeth, Satheeshan, and Yohani and Nasha by Faridkot and Amar Jalal were picked up by big labels after they trended on Reels.
“Many artists and labels have started creating songs to have a part specifically for Reels. This trend will continue in 2023. Top charting songs now have most songs that went viral on Reels,” said digital content creator Aksh Baghla.
Metaverse and AI
Facebook and Instagram’s parent company Meta, introduced its plans for the metaverse in 2022 and it’s about to grow bigger in 2023. Most of the global brands have already started using the metaverse for promotional concerts and virtual ‘buys.’
Creators in India have also resorted to using various forms of AR filters for creating content. “The use of AR technology skyrocketed in 2022, I remember seeing many comedy creators using AR filters to elevate their game; a total game changer can be expected with the usage in 2023,” said Jadhav.
Also read: Top social media trends 2022: From Will Smith Slapgate to Gypsy, what ruled the internet this year