Video marketing sector expected to reach $295 bn by 2026: Mitesh Kothari
The start of a new year is seen as bringing in new operational efficiencies, stronger strategies, a far greater emphasis on building deep bonds with various stakeholders and consumers. In keeping with the current market ecosystem, technology and a human approach are seen as going hand in hand.
As 2023 kicks off, Adgully has approached key industry leaders to Crystal Gaze into 2023, as part of our annual Trending Now series, to highlight the major trends and developments that they see dominating the industry in the year ahead.
Mitesh Kothari, Co-founder and CCO, White Rivers Media, highlights the key trends that will dominate digital in the year ahead, rise of the video marketing sector, increasing shift to Web 3.0, increased Gamification marketing, and more.
Key trends that will dominate Digital in 2023
We have seen the advertising industry growing at a fast pace, especially in this one year. Social media engagement is at an unsurpassed high. The attention span of viewers has gone inversely proportional to the content available as there is so much to consume and so little time! This has led to an unprecedented expansion of video format, especially short-form. The video marketing sector is growing rapidly and is expected to reach almost $295 billion by 2026.
Strategically planned influencer marketing has also helped brands build a sense of trust and connection with their audience. Another highly talked about development has been Web 3.0 that many businesses are now exploring to gain maximum benefits from. Artificial Intelligence has also now made an impact to make all marketing efforts much smarter and efficiently yielding.
Our industry revolves around the Internet, and the number of people using Internet in India is expected to reach almost 600+ million by next year. More and more people are joining the digital ecosystem every minute with their own unique behaviour patterns and expectations, making the need to constantly evolve and adapt a necessity. Social media outreach is expected to blow up even further in the next year with short-form videos as the key trend.
We might also see a rise in Gamification marketing, with more than 430 million mobile gamers in India at present and more being added to the figure by the day. A highly personalised and targeted customer approach using advanced tech like AI and ML can also change the game for brands.
Key focus areas for White Rivers Media in 2023
Our company perseveres with the philosophy of ‘Being the Most’ and giving our maximum to the world of digital advertising. Given the current scenario, it is imperative to remain equipped with the latest technology and skills to deliver the best.
With the advent of Web 3.0, our agency would focus on the organisational transformations that brands can potentially undergo moving from Web 2.0 to 3.0. We have also associated with platforms like Meta, Google, Twitter and Quora for expert training sessions.
The primary objective and focus for us is to deliver the best that we possibly can, and for that, being up to the minute with advancements and technology is vital.