India is one of the countries in the world hardest hit by the coronavirus pandemic. With reports of the new variant raising global alarm, the country is now preparing to combat the looming third wave of COVID-19. However, despite this sudden crash, the digital sector has revealed itself as a winner. At this time, small businesses and start-ups in particular had to carefully re-engineer their creative strategy. While the entire economy is stalling, emerging marketing companies have the ability to use data-driven technologies to cater to digital influencer campaigns and ramp up their digital and technology skills.
A boot marketing company managed to multiply its revenue by 50 times against all expectations. barcode entertainment is a technology-driven influencer marketing company that prides itself on combining data-driven performance, real human relationships, expert creative strategy, engaging, authentic content, and laser-accurate paid media targeting.
The rise and influence of influencers has been one of the biggest forces in how the online social landscape has evolved in recent times. Spending on influencer marketing has become a very big business in the broader marketing space, up 55 percent last year, with two-thirds of brands now deploying an influencer marketing strategy in some way.
Barcode has built an in-house platform for brands and media companies to source and interact with influencers for marketing campaigns. Their team of 150 influencer marketing professionals use this smart platform to connect and collaborate with more than 10 micro and macro influencers across the country. Barcode connects brands to 25 million potential consumers daily via influencers primarily through “original” sponsored content across major social media platforms including videos, photos, blogs and podcasts.
“Currently every marketer requires a scale and we deliver this with our highly skilled professionals in a timely manner. We are now the fastest growing and preferred influencer marketing agency in India, and we are encouraged by simplicity and flexibility to enter this new world,” Says Rahul KhannaFounder of Barcode Entertainment.
The New York Times recently reported that the coronavirus has changed the way we use the internet – words that came true. Our tolerance for screen time has never been higher, and that’s unlikely to change. “The creators economy is expanding rapidly as more and more people are turning to content creation as a secondary or primary source of income. India has more than 20 lakh content creators and they are growing exponentially. We want to support this new creative category by connecting it to global brands for enterprise consumers, allowing them to turn their passion into a possibility to earn a living,” Rahul adds.
Tarsam Metal, Partner, Barcode Entertainment and also an industry veteran feels that the concept of social proof is today an essential brand building tool for marketers. “In the wake of COVID-19 and corresponding changes in consumer buying behavior, consumer interaction with creators has increased by 70 percent. As a result, brands are investing more in social proof to not only thrive, but stay relevant and survive,” he says.
With multiple offices in Mumbai and Bengaluru, Barcode is set to launch multiple creator studios across the country’s major metro markets. “We want to be the next big thing in influencer marketing. We aim to double our headcount and generate 100x revenue in the next six months. With our deep focus on short videos and user-generated content, we plan to launch an influencer smart analytics platform within a few weeks of Now,” says the founder.
Another important sector in which the team anticipates massive growth is short video content. According to estimates, nearly 50 percent of people consume at least an hour of online videos per day. This means that, as marketers, we are all competing for a portion of those 60 minutes. Short video content lends itself to a stricter content strategy, which means greater saturation of branded content, allowing brands to be more flexible.
“Short format content is the preferred video format for millennials and GenZ, and represents the most significant growth category in digital media from 2021. I expect short video content to dominate influencer marketing over the next five years,” “Our mission at Barcode is to make the space more accessible and accountable by making it easier for brands to collaborate with the creators’ economy,” says Rahul.