When talking about content-to-commerce, the first thing that comes to mind is how the congruence of media and technology has the power to disrupt the world of marketing. Marketing and advertising are two areas that relied heavily on traditional media. The preference has remained here due to years of trust invested in these channels. In an ever-changing world, sticking to age-old media not only diminishes 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, the research arm of WATConsult, said India could have 228 million native social commerce consumers by the end of 2022 – a 45% jump from the user base. today as buyers discover new ways to buy goods online – indicating the immense potential and size of opportunity in this space.
What is the strength of your story?
The content-to-commerce model feeds on the strength of the storytelling or messaging of a brand or product. For example, if you told me that a certain product is extremely gentle and lasts a long time, I would buy it. However, if you were to tell me that this product is the result of hours of hard work by a family consisting only of a mother and son who soak this product in “x” liquid for hours to soften it, no only I would buy the product, but also tell its story and recommend it because I have something cool to tell.
Once you have a story to tell, you’re halfway there. And after? How does your brand or product add value to a consumer’s life? Do you provide information? Perhaps, educate your audience? Creating value-based content that allows a consumer to take something away from them builds retention. Once you have a retained audience, you aim to engage them by guiding them through your brand journey. At every step of this journey, you remind them of what it means to engage them in your story until you reach your destination where your consumer can finally make a purchase.
As entrepreneurs, especially in food tech, we need to have deep insight into the lives of our audiences to curate content tailored to their preferences. By analyzing different types of consumer behavior and their impact on the unpredictability of a food business, we come to recognize that our success comes from associating these behaviors with overall sales, rather than sales that drive certain behaviors. consumption. It’s this very holistic approach that drives conversions.
The food industry is such that it offers a short time to market while having a fast product flow. In such an escalating situation due to ever-changing consumer preferences, food tech startups have refocused to tap into the untapped potential of businesses such as cloud kitchens, home chefs, and more. qualified domicile, etc. Additionally, with an increased appetite for online food delivery products, the food aggregator industry has grown at a rate of 25-30% (CAGR).
According to Kalaari Capital’s report, there are 80 million creators and knowledge professionals in India alone, of which 1.5 lakh are professionals who can effectively monetize their services. With creators making an average of $200-2,500 per month, this is a space that can be heavily leveraged.
Additionally, with creators bringing in customers for brands, CACs (customer acquisition costs) have dropped significantly. Now that we’ve figured out how to add value and drive sales, it’s time to deliver an experience. Being supported by content produced around the authenticity of your brand or product generates that very experience.
The author is co-founder and CEO, Blend For Food