When we talk about content-to-commerce, the first thing that comes to mind is how the congruence of media and technology has the power to cause a disruption in the world of marketing. Marketing and advertising are two fields that heavily relied on traditional media. The preference has remained here because of the years of trust invested in these channels. In a constantly changing world, sticking to age-old media not only decreases commerce but, in a way, drains a brand, product or service of its credibility because everyone is now on social media.
A recent report by Recogn, WATConsult’s research division, stated that India could have 228 million native social commerce consumers by the end of 2022 — a 45% jump from the current user base, as shoppers discover newer ways of buying goods online — indicating the immense potential and size of the opportunity in this space.
How strong is your story?
The content-to-commerce model thrives on the strength of storytelling or messaging of a brand or product. For instance, if you told me that a certain product is extremely soft and lasts long, I would buy it. However, if you told me that this product came from hours of hard work of a family consisting of just a mother and son who soak this product in ‘x’ liquid for hours to soften it, I would not only buy the product, but also tell its story and recommend it because I have got something cool to talk about.
Once you have a story to tell, you’re halfway there. What’s next? How is your brand or product adding value to the life of a consumer? Are you providing information? Perhaps, educating your audience? Creating value-based content that facilitates a consumer to take away something from it builds retention. Once you have a retained audience, you aim to engage them by walking them through the journey of your brand. At every step of this very journey, you remind them what it means to have them be a part of your story till you reach your destination where your consumer can ultimately make a purchase.
As entrepreneurs, especially those in the food-tech space, we need to have deep knowledge of our audiences’ lives to curate content that is tailor-made to their preferences. On analysing different kinds of consumer behaviour, and how they impact the unpredictability of a food business, we come to recognise that our success comes from associating these behaviours to the overall sales, rather than the sales driving certain consumer behaviour. This very holistic approach is what brings about conversions.
The food industry is such that it provides a short time to market while having a quick flow of products. In such a situation that is intensified by constantly changing consumer preferences, startups in the food-tech space have re-directed themselves to leveraging the untapped potential of businesses like cloud kitchens, skilled home chefs, etc. Additionally, with an increased appetite for online food delivery, the food aggregator sector has expanded at a rate of 25-30% (CAGR).
According to Kalaari Capital’s report, there are 80 million creators and knowledge professionals in India alone, out of which 1.5 lakh are professionals who are able to monetise their services effectively. With creators making an average of $200- 2,500 per month, this is a space that can be heavily leveraged.
Furthermore, with creators bringing in customers for brands, CACs (customer acquisition costs) have reduced significantly. Now that we have understood how we can add value and drive sales, all that is left is providing an experience. Being backed by content produced around the authenticity of your brand or product generates that very experience.
The author is co-founder & CEO, Blend For Food