Neha Soman, Chief Business Officer of Hypergro, writes on invitation and exclusively for our special series BRIEF24.
Learnings and achievements from 2023; Inspiration for 2024
In 2023, the digital marketing field saw significant strides, particularly in the explosion of short video content and the rise of AI-driven optimization for Meta ads. The ability to experiment with content dynamically and leverage AI for continuous learning has been a game-changer.
However, two major concerns surfaced: the increasing Customer Acquisition Cost (CAC) in a highly competitive space and the challenge of maintaining the authenticity of brand messaging amidst technological advancements. These trends and concerns are crucial as they directly impact the efficiency and effectiveness of digital marketing strategies.
Success stories from 2023: 2023 was a landmark year for Hypergro.ai. We achieved a notable increase in ROAS, tripling it for an Astrology brand through regionally focused and relatable short video content.
This success validated our hypothesis about the power of targeted content. Additionally, we tapped into an unexpected opportunity in creating vernacular content, enabling large, established brands to penetrate deeper into Middle India’s growing market.
Learnings and realizations from 2023: The insights into the increasing preference for short video content and the heightened CAC for D2C brands have been pivotal. These trends have solidified our belief in result-driven marketing as the only sustainable path forward.
As a founder, this shift towards a more metric and bottom-line-focused approach has been instrumental in guiding our strategic decisions and offerings.
2023 highlights and takeaways: The past year has been a learning curve, emphasizing the importance of experimentation in advertising to challenge preconceived notions about content effectiveness.
One significant realization was that influencer marketing, if not results-oriented, is becoming obsolete. These experiences have shaped our approach, leading us to value innovation and adaptability in our strategies.
Looking at 2024: As we head into 2024, the key trends to watch include a significant shift in advertising priorities, where content quality will outweigh follower count. We anticipate a further rise in CAC, emphasizing the need for more efficient strategies.
Native advertising and the prevalence of UGC will become increasingly crucial, especially for D2C brands, as these elements will be key in engaging audiences authentically.
Some advice: My advice to peers and newcomers is twofold: First, engage actively with your customers to deeply understand their problems. Listening and being aware are crucial.
Second, don’t hesitate to ask for help. The community in our industry is often willing to contribute and support one another.
My Mantra for 2024: Fail, Learn, Hypergrow
My personal favorites from 2023
Campaign I liked in 2023: Coca-Cola’s ‘Create Real Magic’ campaign. It skillfully incorporated AI innovations and actively engaged customers in a creative process.
A book I liked in 2023: ‘Essentialism’ – It’s a compelling read on prioritizing what truly matters.
A show/movie that I liked in 2023: Barbie – A refreshingly modern take on feminism.
My 2023 hobby-career connection: Making detailed notes on every book I read has significantly enhanced my learning process.