Marketers are already seeing signs that video will pay a major role in their activities in 2015. A high quality video, featuring great content that is well executed, is guaranteed more exposure for brands than other forms of advertising. Done right, consumers are more likely to share on social media and tell family and friends about the video and the brand.
The impact of video was evident in 2014 when Korean pop star Psy’s Gangnam Style video forced YouTube to reset its counter. As the world’s second largest social network, YouTube attracts more than 1 billion unique viewers each month. In the coming months, the role of YouTube and other video platforms will continue to be increasingly relevant as a key source for brands to engage with consumers given that mobile viewing continues to grow especially among younger audiences.
But Facebook and other social networks are not sitting idly by and allowing YouTube to enjoy all the pie. With its own massive captivated audience, Facebook’s video network is increasing in popularity and will continue to attract more advertising spending.
WATCH: New Twitter Amplify product video – what it is and how it works in less than 90 seconds. https://t.co/A34qmDGAaa
— Twitter Amplify (@TwitterAmplify) September 30, 2014
Twitter has also thrown its hat into the ring testing promoted videos, while Instagram is launching into video advertising. The appeal of these social networks is that the viewing experience seamlessly combines with the ability to share and engage in a manner that is uniquely different than watching a video on YouTube. Viewers can tag their friends and fans and play an active role in encouraging others to view and engage.
This move is largely driven by mobile and rapidly increasing smartphone penetration. These devices have fuelled the rapid growth in video consumption along with faster internet and the creation of micro-video sites like Vine and Instagram.
B2B marketers also recognise the immense potential of video marketing, and are incorporating more video into their overall marketing strategies. The advantages are clear, for example, blog posts with videos see an increase in average viewing time than one with just text and image. The conversion rate is also increased as viewers spend more time with the brand and its content.
However, even with the best content, the discovery process is still a hurdle for publishers and it may be some time before they come up with a way around it. This is because consumers on social networks are there primarily for their own interests, not to seek out or engage with brands. It is only while carrying out their own social activities that the unplanned discovery of videos occurs through sharing by others in their social circles.
For businesses, the whole process of video marketing can require significant effort and investment if proper strategy is in place. Even then, there is no guarantee that it will have the desired effect and acquire viral video status.
Nevertheless, planning is key to the process in order to determine the type of content, production methods, distribution platform and performance tracking. Advertisers and content creators will be relying less on viewing statistics and more on advanced behaviour tracking such as biometrics using eye movement and heart rate to measure viewer response. These new approaches will be used to guide the creative process to produce more targeted and personalised video experiences that will heighten engagement with consumers.
Television viewing is also evolving. While mobile video gives viewers the freedom to tune out irrelevant ads and engage more with brand content, the number of people watching TV on mobile devices has exploded in the last two years, and research has shown that a high percentage of these are engaging on social media while watching. Of course this trend will continue, but what differentiates TV from mobile is really the screen size and the type of content being viewed. For example, viewers show a preference for mobile devices when watching micro videos like a 6-second Vine or a 15-second Instagram video. However, when it comes to longer content, like a game show or talent competition, viewers tend to opt for the larger screen.
In the coming months, the immense potential of mobile video consumption will drive higher advertising spend as publishers and corporate brands seek to tap into the unique behaviours of this demographic. This will push content creators to move towards targeted content that is short, seamless and visually optimised for smaller screens to take advantage of the existing and emerging opportunities. Marketing experts also predict that YouTube will implement more creativity into its advertising, and may even offer the ability for one click purchase directly from the video being viewed.
What is certain is that the consumer will be the main driver behind video marketing trends and how brands and publishers incorporate this type of content into the overall business strategy. Consumer behaviours will continue to influence content development, social marketing strategy, and channel distribution to push video too more targeted audiences.
Base Touch are experts in video for digital marketing and advertising, providing the full service from pre-planning and strategy through production and post production to digital distribution and analysis. Contact us to find out about how we can help shape the right video strategy for you in 2015.