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Tag: Anurag Iyer

  • India’s influencer marketing industry estimated to reach Rs 3,375 crore by 2026: EY – Collective Artists Networks Big Bang Social report

    India’s influencer marketing industry estimated to reach Rs 3,375 crore by 2026: EY – Collective Artists Networks Big Bang Social report

    Mumbai: Highlighting the influencer marketing trends in India, the latest report by EY and Collective Artists Network’s Big Bang Social indicates that the industry is poised for significant growth. The report titled ‘The State Of Influencer Marketing in India’, states that influencer marketing in India is expected to surge by 25 per cent in 2024, reaching Rs 2,344 crore, and further expand to Rs 3,375 crore by 2026. These projections underscore the continued growth and immense potential of the influencer marketing industry, presenting ample opportunities for brands, marketers, and influencers alike.

    The report highlights a crucial insight: with 50 per cent of mobile usage dedicated to social media platforms, integrating influencer marketing into communication strategies is essential for marketers. In addition, it is expected that there will be 740 million active smartphones in India by 2030. Consequently, three out of four brand strategies are expected to include influencer marketing. Brands prioritize engagement rate and the quality of the target audience when selecting influencers, recognizing the importance of authentic connections in reaching their desired audience.  

    Reflecting on the key findings of the report, EY India partner, marketing advisory Amiya Swarup said, “In today’s rapidly changing Indian society, citizens face transformations in various aspects – be it societal norms, career paths, financial strategies, or cultural shifts. Influencers are stepping in to provide guidance, reassurance, and advice, effectively assuming the role of contemporary heroes. Coupled with the projected growth in influencer marketing, it’s clear that influencers now define an unprecedented era of knowledge and impact, while also unlocking vast opportunities for brands and marketers.”

    The report further reveals that the growth of influencer marketing is anticipated to be driven by lifestyle, fashion, and beauty categories. Further insights from the survey indicate that sectors such as automobiles, e-commerce and FMCG are expected to increase spending on influencer marketing the most.

    Collective Artists Network group CEO and founder Vijay Subramaniam shared, “It is heartening to see that brands are recognizing the potential of the creator economy and are increasingly investing in influencer marketing, with sectors like FMCG, automobiles and consumer durables leading the way. This report should serve as an invaluable resource for brands seeking to harness the power of influencer marketing to connect with their audience, drive engagement, and achieve sustainable growth in the dynamic and competitive landscape of the Indian market.”

    It was found that marketers must strike a strategic balance between mega/ macro influencers to drive awareness and brand loyalty, while also tapping into the power of micro/ nano influencers to drive engagement. Interestingly, nano influencers had the highest engagement rate compared to other influencer categories. It is important to note that 47 per cent of brands preferred driving influencer campaigns with micro and nano influencers due to the lower cost per reach.

    Challenges were reported from both the brand side and influencer side. The biggest challenge for marketers was determining the ROI of their influencer marketing campaigns, while building a loyal audience and maintaining credibility were the top two challenges for influencers.

    Key insights:

    •    75 per cent brands are expected to consider influencer marketing as part of their marketing strategy.
    •    56 per cent of the brands invested more than 2 per cent on influencer marketing.
    •    70 per cent of brands plan to keep their influencer marketing budget the same or increase it in 2024, with half planning to increase it by up to 10 per cent
    •    77 per cent brands believe that their agencies are fairly equipped to drive influencer marketing campaigns.
    •    71 per cent of brands engage with influencers on a fixed fee model and 29 per cent are exploring performance linked models to drive influencer accountability.
    •    77 per cent of influencers reported income growth in the past two years and 86 per cent of influencers expected over 10 per cent increase in their income over the next two years.

    Big Bang Social CEO Anurag Iyer commented, “India is often described as a young and aspirational country, and as one of the fastest-growing major economies in the world, it is a complex time to be an Indian. In the world of digital marketing, where getting 2-3 mins of attention from a consumer is a massive challenge, creators are able to capture undivided attention with their creativity. May this report serve as an invaluable resource for brands seeking to harness the power of influencer marketing to connect with their audience, drive engagement, and achieve sustainable growth in the dynamic and competitive landscape of the Indian market.”

    This report reflects the findings from the survey of CMOs, creators, agencies, and individuals.

  • Uorfi Javed announces debut podcast ‘UncanceLlable with Uorfi Javed’

    Uorfi Javed announces debut podcast ‘UncanceLlable with Uorfi Javed’

     Mumbai: Prepare for an extraordinary experience this season as the dynamic Uorfi Javed steps into the world of podcasting with her debut show, ‘Uncancellable with Uorfi Javed,’ produced by Collective Artists Network’s Big Bang Social. Uorfi Javed is set to push the envelope with her unapologetic dive into various aspects of her life, promising to entertain, educate, and challenge the status quo. The podcast trailer is now available for listeners.

    Known for her avant-garde approach to fashion, Uorfi Javed fearlessly expresses herself, transforming the ordinary into the extraordinary. The trailer offers a glimpse into her unique perspective and unfiltered style. Featuring a diverse lineup of guests, each episode guarantees an exciting exploration into the minds of rebels, independent thinkers, and notable personalities. ‘Uncancellable’ will unravel the power of authenticity, engaging in meaningful conversations that inspire change. Uorfi Javed will engage in heart-to-heart discussions with her guests, delving into their motivations to break barriers and challenge societal norms.

    Guests on the show include comedian Rohan Joshi, actor and creator Dolly Singh, singer Rashmeet Kaur, and actor and doctor Trinetra Haldar Gummaraju, among others.

    Uorfi Javed shared her thoughts on the podcast, stating, “I love exploring new things and learning more about myself. This podcast is all about celebrating authenticity, staying curious, and having the courage to follow your path – principles I deeply believe in. Audiences have always ‘seen’ me; now, I can’t wait for everyone to ‘hear me’ too and enjoy my role as a host. It’s the perfect opportunity to get to know me and people who, like me, don’t back down from challenges.”

    Big Bang Social CEO Anurag Iyer expressed, “Uorfi Javed has been a social phenomenon in our country, and it is refreshing to witness the world from her unique perspective through the insightful conversations she will share with her guests. We believe the Indian podcast scene is ready for content that pushes boundaries, and we are proud to produce this show as we are committed to empowering our talent and their dreams. Whether it’s launching brands, products, or now shows, we stand firmly behind our creators. We are confident that this podcast is something like no other, embodying our belief in the creator space and the limitless potential it holds.

    The podcast is scheduled to launch on 23 February 2024 and will be accessible on all leading audio streaming platforms.

  • Artist Santanu Hazarika’s sneaker collaboration sells out rapidly

    Artist Santanu Hazarika’s sneaker collaboration sells out rapidly

    Mumbai: In an unprecedented phenomenon, renowned artist Santanu Hazarika and homegrown lifestyle brand Comet’s latest collaboration – a capsule collection of 300 pairs of sneakers – rapidly sold out within only two hours of its drop, marking the very time a homegrown sneaker collaboration has sold out in record time!

    Comet, a trailblazing force in the sneaker industry, is renowned for its bold designs and innovative approach to footwear. With a commitment to pushing boundaries and embracing creativity, Comet has carved a distinct identity in the world of streetwear. Their collaboration with renowned artist and sneakerhead Santanu Hazarika signifies a fusion of rebellious expression and artistic vision. Through this partnership, Comet continues to redefine the sneaker landscape, offering consumers a unique blend of style, substance, and self-expression.

    A name synonymous with the sneaker culture in India, Santanu had recently joined hands with Comet for the sneaker line. The collaboration was not just cool kicks but embodied the dynamic convergence of underground art, pop culture, and the sneaker revolution married with rebellion and expression. Taking inspiration from punk, heavy metal and anti-establishment sentiments, where the shoes featured vivid colours and design elements like thorns, a shooting star with an eye, and collar tabs that spelt out ‘Silent’ and ‘Scream’ to symbolise voices that have always echoed in silence. The line perfectly reflected Santanu’s sketchbook style and a disciplined expression that harmonised the silence of rebellion with a loud, unapologetic scream, striking a chord with the audience.

    The sneaker line went live last Thursday on the brand’s website and was off the shelves in a record time of two hours, thereby underscoring the audience’s anticipation for the collection.

    Talking about the success of this drop, Santanu shared, “As an artist, having my sneaker line was on my bucket list, so this is like my childhood dream come true! During the designing process, I had complete creative liberty. But naturally, there was some nervousness about this first-time collaboration. So, a complete sellout in only a few hours was definitely surprising! This has made me truly believe in the power of community.”

    “We are thrilled and humbled by the overwhelming response to our collaboration with Santanu Hazarika. The lightning-fast sellout of our limited edition drop in just two hours is a testament to the acceptance we as a brand have received from the vibrant community we are building with Comet. We are honoured to see the enthusiasm and passion our customer base has created for self-expression and creativity. This achievement only strengthens our commitment to nurturing a community where authenticity thrives and consumers are encouraged to embody our brand ethos of “Never Shy, Never Sorry’,” remarked Comet founder Utkarsh Gupta.

    BigBang.Social chief executive officer Anurag Iyer, added, “BigBang Social is proud to be the force to facilitate this association between Santanu and Comet, an ultimate combination of an extraordinary artist and a sought-after homegrown brand. Through the creator economy, we’re unleashing a tidal wave of creativity and innovation that knows no bounds. In this new-age digital economy where creators play an integral part in shaping culture, inspiring change, and building communities, we believe in empowering them to own their language and monetising their passions that foster a richer, more diverse cultural landscape.

    Santanu intends to foray into the gaming industry and tech merchandise with his designs. The artist plans to launch esports jerseys, gaming gear, and all sorts of electronic gadgets.

  • Big Bang.Social and Comscore partners for creator marketing revolution with advanced analytics

    Big Bang.Social and Comscore partners for creator marketing revolution with advanced analytics

    Mumbai: Big Bang.Social, the premier creator ecosystem under the umbrella of collective artists network, is excited to announce an innovative collaboration with Comscore, a renowned authority in media measurement and analytics. This partnership aims to reshape the realm of creator marketing by offering creators profound insights into the efficacy of their campaigns and a wealth of valuable resources to enhance their success.

    In a time when social media and digital content creation are undergoing unprecedented growth, having a comprehensive understanding of media consumption and audience intelligence is more crucial than ever. Big Bang Social is committed to offering brands the most optimized experience when it comes to designing campaigns while simultaneously empowering creators and influencers within this dynamic ecosystem.

    At the core of this collaboration is the BigBang.Social app, a super-app designed to serve brands in multiple dimensions, including discovery, curation and customization of campaigns. Comscore’s expertise in cross-platform measurement and digital audience insights will equip brands on the platform to make informed decisions, fine-tune their content strategies, and achieve superior results.

    In response to the collaboration, Big Bang.Social CEO Anurag Iyer remarked, “We are thrilled to join forces with Comscore to provide brands with a distinctive, all-encompassing platform that will transform their marketing journey. With the BigBang.Social App and the added advantage of Comscore’s analytics, brands will have unparalleled tools and resources to bolster their success and develop outstanding campaigns.”

    Comscore vice president-sales for Asia-Pacific Geet Lulla also added, “We take pride in our collaboration with Big Bang.Social to assist creators and influencers in realizing their full potential. Our expertise in social media measurement using first-party data from the platform will equip creators with actionable and competitive insights, enabling them to make data-driven decisions and elevate their campaigns to the next level.”

    The partnership between Big Bang.Social and Comscore promises to be a game-changer for both the brand ecosystem and the creator community, offering a comprehensive solution for commerce, collaboration, skill enhancement, and analytics. Creators and influencers can anticipate a future brimming with new opportunities and growth as they navigate the digital landscape with confidence.

  • Big Bang Social launches India’s first creator super-app

    Big Bang Social launches India’s first creator super-app

    Mumbai: Collective Artists Networks BigBang.Social, is proud to announce the launch of India’s first creator super-app. Recognising the immense potential of the creator ecosystem, BigBang.Social offers creators a comprehensive and first-of-its-kind platform that enables commerce, brand collaboration, upskilling and a robust peer-to-peer network for building a thriving community. Designed to empower creators and fuel the growth of the creator economy, the BigBang.Social App is set to become the ultimate virtual destination that revolutionises the way creators connect, collaborate, learn and thrive. 

    “With a tech-first approach to the creator economy, our aim is to streamline India’s largely unorganized creator ecosystem, enabling monetization and revenue growth for creator businesses,” said Collective Artists Network founder and Group CEO Vijay Subramaniam. ” The potential of the creator economy in India is vast. As more individuals embrace entrepreneurship and leverage their creativity, there is an opportunity for creators to not only generate income but also influence industries, drive cultural shifts, and shape consumer preferences.”

    The BigBang.Social App is set to be a game-changer for creators, offering a wide range of innovative features and services to fuel their ambition and success. Creators gain access to curated brand collaborations that match their unique talents and aspirations, opening doors to exciting opportunities and high-quality experiences. The platform fosters a vibrant community where creators can connect, collaborate, and learn from one another, creating a supportive ecosystem that fuels creativity and growth.

    In addition to its focus on collaboration and community building, the BigBang.Social App empowers creators with an array of tools and resources. From learning modules and online training to masterclasses led by industry leaders, the app provides creators with the knowledge and skills to excel in their respective fields. Moreover, creators can leverage the app’s advanced features, such as cashback rewards and reward points, to further monetize their endeavours and maximize their earnings.

    “At BigBang.Social, our vision is to redefine the landscape of the creator economy, providing creators with unprecedented opportunities to grow, monetize their assets, and increase revenue streams,” said Big Bang Social CEO Anurag Iyer. “With our creator super-app, we are placing the power firmly in the hands of creators, offering them access to the best deals, tools, learning resources, peer-to-peer communication, cashback rewards, and much more.”

    In addition to its focus on collaboration and community building, the BigBang.Social App empowers creators with an array of tools and resources. From learning modules and online training to masterclasses led by industry leaders, the app provides creators with the knowledge and skills to excel in their respective fields. Moreover, creators can leverage the app’s advanced features, such as cashback rewards and reward points, to further monetise their endeavours and maximize their earnings.

    The creator economy’s total addressable market is estimated to double over the next five years, increasing rapidly from $250 billion to $480 billion by 2027, as per Goldman Sachs research. The launch of the BigBang.Social App marks a significant milestone in the growth of the creator economy in India. Globally, there are over 200 million creators and India is set to have the largest base of social media content creators with the figure crossing 100 million this year, according to a report by influencer marketing firm Zefmo. The report predicts that the “organised influencer marketing” sector is expected to reach Rs 3000 crore by 2024 and the revenue share of micro influencers is set to rise from nine per cent to 14 per cent by 2024.

    As the creator economy continues to flourish, it has the potential to disrupt traditional industries and redefine the way content is created, consumed, and monetised. With the right support, infrastructure, and investment, the creator economy can foster economic empowerment, job creation, and socio-cultural transformations. By providing creators with a virtual destination that celebrates their talents, fosters collaboration, and offers unparalleled opportunities, BigBang.Social is poised to redefine the landscape of digital creativity and entrepreneurship.a

  • BrandVid – Can a brand become a media company?

    BrandVid – Can a brand become a media company?

    MUMBAI: Traditional media companies today have a very diverse story and narrative no matter what the subject. A consistent story is shared across paid, earned and owned media. However, media companies are more than that today. They create programming and/or distribute it. They also share the content via various media channels.

    But what we’ve been increasingly seeing is that brands have now started to become media companies by creating and distributing their in-house content. 

    It is challenging for a traditional agency to sustain and survive in a competing environment like this. But is there a way where brands, agencies and publishers can co-exist and collaborate? Well, that was precisely the topic of discussion at BrandVid 2018, powered by Colors. The session saw industry leaders discuss on whether a brand can after all become a media company. And if yes, how can they monetise their assets. 

    Clearly disagreeing with the proposition, Firstpost business head of revenue & strategy Anurag Iyer believes that the objective of becoming a media company and becoming a brand are completely different. He said, “Redbull as a business looks at its studio business as a separate entity and has great traction back to its website, but does its film on adventure and sports result in more Redbulls being sold? I don’t think so! But does it have a great brand rub off with their audiences? Absolutely!”

    On the other hand, Online Fashion portal Myntra is a brand as well as an e-commerce company that is also a media company to some extend as it creates in-house content. But does that mean it will become a full-fledged media company in the time to come? Probably! Myntra VP marketing Achint Setia is of the opinion that brands need to first figure out the role of content and the business objective. For a brand, its business objective is to drive revenue and sales and that’s where content plays a critical role. “Brands have a role to play in consumer’s mind and they should stick to that role. However, that role can get enhanced and more meaningful with the right use of content.”

    But while brands are struggling to find their sweet spot in the cluttered media ecosystem, there hasn’t been a better time for agencies as they get to have the cake and eat it too. Isobar Group MD South Asia Shamsuddin Jasani wants partake of that cake. Though it is a difficult proposition, big global brands want to monetise their content. Global FMCG giants Mondelez and Pepsi want 20-30 per cent of their spends to be recovered via video content and Isobar doesn’t want to miss out on that opportunity. 

    A lot of brands mistake content’s role in their business lifecycle. It is not about monetising content for the sake of it or about using content as an ROI drive. It is more about using content to have a deeper relationship with your community. 

    Shamsuddin said, "Big advertisers feel there is some monetisation that needs to happen and they are all grappling with how to create those monetisation opportunities. As an agency, we are working with brands to create those IPs. As brands, they will do it and as agencies we will have to do it because we don’t have a choice or they will push us to do it.”

    Although it’s a vicious and profitable cycle, but when does a brand pause, take a step back and think whether they are overstepping their business objective and should rather focus on sales and revenue? That’s exactly what Marico head of media and digital marketing Ankit Desai thinks. He believes it will be a few hits and a lot of misses for brands if they go the media company route. “While media companies can deal with many misses and start over again, it’s a different ball game for brands as it is linked back to business objective where you don’t have the option of repetitive failure since your marketing money will be wasted and that’s really the challenge.”

    Getting customer attention is a task for most marketers today. The millennial consumer will not stick to your content no matter how well made it is if it isn’t engaging and informative enough. It will take a lot of time for brands to understand the young customer of today. Agreeing that brands will become media companies in the future, Fastrack head of marketing Ayushman Chiranewala said that you cannot time when it will actually happen. He however thinks that it will come from a different business need which will be to be on the top of customer mind because getting the customer attention will only keep getting difficult in the future.

    Brands will become media companies in the times to come and there is no denying that but the timeline is likely to vary. For Myntra, it may happen in less than three years from now whereas Fastrack believes it will take five to 10 years. Interestingly, today content creators are also becoming brands in themselves. They create an IP and later sell products around the IP, eventually creating a brand. 

    All in all, maybe the world in the future will not be about everyone trying to do everything but about a lot of collaborations and partnerships. But every brand and creator should keep their minds open and think about consumer intent first.