How ShareChat has been monetising stay-at-home traffic
Sunil Kamath, CBO of ShareChat, discusses how the platform has been silently leading a social media revolution by exploring new and unconventional content genres
Social media platforms are no longer used just to post pictures and videos. These days, many are also being used for informative purposes. News, for instance, is a genre gaining prominence on social media, especially during the present pandemic. Indian video-sharing social networking service ShareChat, like its competitors, is also exploring new content genres, generating new avenues for monetisation for itself. In a chat with Exchange4media, Sunil Kamath, Chief Business Officer, ShareChat talks about how the platform is witnessing unprecedented traffic from the stay-at-home user and a healthy growth since they opened the platform for brand integrations.
What are the segments emerging strong on ShareChat in the wake of coronavirus? How strong is news a category for you at the time? Tell us about the hike in usage.
We have seen considerable growth on the platform since the first week of March. With the coronavirus outbreak, we noticed that usage of health and news genres have spiked the most. Today, we have over 60 national and regional TV news channels as partners, built over the last couple of years. These partners are engaging with our users on creating UGC campaigns and also, disseminating verified information on COVID-19 updates.
News posts on ShareChat have increased from 8,500 per day in March Week 1 to 65,000 every day in March Week 4, grown by more than seven times. Sharing of news content increased to 1.92 million a day in March week 4, grown by 1271% from March Week 1.
Though news was expected to have the spike considering our users’ interest in the space during the lockdown, we are more excited with the growth in health-related content.
Health-related posts have grown four times from March Week 1 to March Week 4, clocking 24000 posts every day. Sharing of health content has grown more than 12 times in this period.
Overall, Romance, Wishes and Entertainment continue to be the top three content genres on the platform. Video Consumption has increased by 15% from approximately 23 billion video play in March Week 1 to approximately 27 billion video plays in March Week 4
Total UGC posts grew by 18.75%, from 8,00,000 per day in week 1 to an average 9,50,000 per day, week 4. The total views have grown by 30%, from 1.8 B per day in Week 1 to 2.4 B per day in Week 4.
There was a report on how your platform is concentrating on languages. Tell us more about it.
Since we started our advertising-led monetisation a few months earlier, we have been driving a new brand experience, connecting them to their audience in a completely regional context. Right from the native languages to cultural elements, our brand solutions capture the aesthetic elements and provide a better connect between the brands and its audience across 800 cities in India.
We have been experimenting with various advertising levers and witnessed 50+ successful campaigns across 10+ regional languages. ShareChat has enabled the platform for thousands of micro-influencers to work closely with brands and create unique brand experiences through UGC (User Generated Content). The micro-influencer led strategy drives word-of-mouth like messaging for brands, making brands more connected to its audiences.
ShareChat is silently leading a social media revolution with brands focusing on regional outreach. Our regional strength in Tier 2, 3 and 4 cities offers a unique proposition to brands with highly targeted language-driven campaigns.
Our expertise in the regional brand engagement already developed immense brand confidence and many large consumer brands are partnering with us to gain a strategic advantage in the regional language speaking markets
Over the past six months, ShareChat has successfully executed more than 50 campaigns across diverse market segments and worked with 25+ brands including the likes of Facebook, Coca Cola, Oyo, MTR, Airtel, Pepsi, Future Group, MXPlayer and Snapdeal.
What is the kind of brand association you are taking up at the moment?
Our core value proposition centred on micro-influencer led word-of-mouth on digital catering to regional audiences.
Since most social media platforms are now seeing unprecedented traffic, help us understand the monetization model of the platform.
ShareChat is not just a social media platform, with interests from consumer-focused brands to engage with our regional users. This definitely offers a unique monetisation opportunity with people staying indoors and consuming content digitally more than ever.
We have also seen a spike in DAU, time-spent on the platform, a number of sessions and we are taking this to the brands. As a result, we are receiving more queries and brands are approaching this window with a different approach altogether.
Our monetisation focus continues to be ad-led while we explore other monetisation opportunities which can drive significant value to our users.
After languages, what next-tell us about disruptions planned for the market.
We have been consciously strengthening our regional capabilities to drive hyperlocal conversation, comprising building several interest-based micro-communities on subjects relevant to art, culture and various other aesthetics of local lifestyle. This has already resulted in the closure of a few brand campaigns.
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