Is It Time to Fully Utilise Video Marketing?
Are you a strong believer of the common myth that only playful and amusing videos (cats and epic fails!) can be shared online? Well, as much as I hate to be the bearer of bad news, I would have to disappoint you. In today’s digital age, all a brand needs to take a firm stance online is content. Recent study suggests; “if you create video content that your specific audience enjoys, 83% of consumers would consider sharing it with their friends. Being a brand is not necessarily a disadvantage -- content is king!” ~ Adam Hayes of @wyzowl.
Last summer I attended a marketing conference in London and it was predicted that by 2020, Video Marketing will replace Content Marketing Online. A year later and the initial statistics revealed that 82% of Twitter users watch video content and 90% view from mobile phones. This clearly exemplifies the significance and prominence of Video Marketing among both consumers and marketers.
The Upsurge of Video Marketing in 2018
In December 2017, Wyzowl surveyed 570 unique respondents of both marketing professional and online consumers for its fourth annual State of Video Marketing Survey report. Insights collected only suggest the rise of video marketing online.
Upsurge from 63%, in the previous survey, 81% of businesses now use video messaging as a marketing tool and 99% of firms plan to increase its usage in 2019. The numbers are expected to rise, as 65% of those not utilising video marketing now plan to include it in their marketing strategy.
As millennials are visual creatures obsessed with images, it is quite understandable that videos (from work related content to online streaming) now play a crucial part in our daily lives. This is no surprise as visual learning (especially in this virtual era) has the potential to add more value to our lives as compared to text. For instance, 72% of people said, they are likely to watch videos to learn about products and/or services than read text – where both options were available. Respondents were quizzed on the average time spent viewing video content in a normal day. The average response received was 1.5 hours, whilst 15% spent more than 3 hours watching video on a typical day.
Imagery and audio-visuals have long been seen as necessary tools that marketers depend on to ease their jobs and help drive business performances. Here is an infographic to support this claim:
With all the social media websites, LinkedIn is set to experience an increase in the number of videos used on this platform. At the moment, just 38% of marketers are sharing video content on LinkedIn with three-quarters enjoying positive outcomes. With figures set to increase, 55% of people are predicted to either continue or start using video content on the professional social networking site.
Snapchat on the other hand is heading for a turbulent year, as only 11% of people currently utilising this platform with video marketing. The bulk of those are not positive with the outcomes as just 27% found it effective.
In a nutshell, I would like to leave you with some wise words from Seth Godin, “Marketing is no longer about the stuff you make, but the stories you tell.” From the findings, it is obvious that 2018 marks the dawn of video marketing and storytelling!