Video is no longer the “next best thing” in marketing. It’s no secret that video is a powerful, effective way for marketers to communicate with their audience and tell their brand story. Video provides consumers the flexibility and value they crave for their on-the-go lifestyles. What brands must understand is that video is not the marketing strategy of the future. It’s the marketing strategy now.
Not convinced? A few stats that support why marketers should be using video now:
- It’s Growing: By 2019, video will represent over 80% of all internet traffic, and for the US it will be over 85%. (Cisco, 2017)
- It’s Part of the Decision Journey: Almost 50% of internet users look for videos related to a product or service before visiting a store. (Google, 2016)
- It’s Increasing In Demand: 43% of people said they want to see more video content from marketers. (HubSpot, 2016)
- It Delivers on ROI: 51.9% of marketing professionals worldwide name video as the type of content with the best ROI. (Adobe, 2015)
Increasing Video Platforms
Platforms are answering to the increasing consumer demand, providing more ways for marketers to share video than ever before through both organic and paid advertising.
Facebook has recently taken a large step towards video, challenging traditional TV with the release of Watch which it describes as a platform “…comprised of shows…made up of episodes – live or recorded…like a weekly cooking show, a daily vlog, or a set of videos with recurring characters or themes.” The move from Facebook demonstrates its desire to become a home for deliberate video consumption, providing users a place to discover new, premium content. Challenging YouTube and TV alike, Facebook Watch is sure to eventually give brands the opportunity to create and share original content too.
In addition, the launch of native video on platforms like LinkedIn and Reddit, as well as the growing usage of video on platforms like Instagram Stories, demonstrates the need for brands to invest in video to meet consumers.
Increasing Video Formats
Outside of platform specific capabilities, diverse video formats continue to rise to prominence. Short form, live video, 360 video, virtual reality, interactive video and more.
With an increasing emphasis on mobile, marketers are seeing that often less is more. According to a study by Vidyard, 56% of videos created by businesses today are two minutes or less, and videos under 90 seconds see an average retention rate of 53% while videos over 30 minutes retain only 10%.
Emerging technologies are allowing for more interactivity between consumers and brands, including the ability to take actions while watching video. Interactive video can allow the consumer to change their experience while watching, often adding a gamification component.
With so many emerging formats and other innovations in the video marketing world the options for marketers are vast. More and more, video is proving to be a powerful way to share personal, relevant, and impactful content with your audience, often creating an emotional connection and response.
Video marketing is not a new strategy, but recent develops and research tells us it’s not going away anytime soon.