Video Marketing Isn’t The Future: It’s Right Here And Now
This is going to be pretty straightforward: Video is — and will continue to be — the most dominant form of media there is. End of story.
So, why should you care?
Well, whether you’re a developing social media personality, business owner or marketing executive, understanding how people think and respond to messaging is vital to grow.
But you don’t have to take my word for it. Take a moment and look around. On the whole, contemporary media consumption tends to revolve around video. For example, of the average 10 hours and 39 minutes spent each day consuming media, watching television ranks the highest; the average American spends five hours and four minutes watching TV.
After television, the next four to five hours of our daily media consumption are spent on mobile, laptops and desktops (registration required), where users typically engage in TV-esque activities, i.e. watching videos on Snapchat, scrolling through Instagram or surfing Facebook and YouTube.
Today, it seems no matter where you look, video is present and fully represented.
A World Of Black Mirrors
Take a look at the dominant forms of social media and on-demand video (subscription services like Amazon, Hulu and Netflix) and watch how they’re moving — what they choose to focus on with each new update, feature and development. In most cases, there’s a strong emphasis on video. And year after year, the digital media industry has aligned itself with the idea that the most important form of media is video.
With Apple, it was the improvement of its cameras and its implementation of FaceTime to promote video calling. With YouTube, it’s the entire model, not only giving users a free platform to post their own video content, but allowing those users to effectively create a free digital entertainment network for the casual web browser. With social media apps like Facebook, Twitter, Instagram and Snapchat, these tech giants are increasingly using videos to promote overall user engagement and inspire daily and active use.
Rise Of The Cable Cutters — Looking At The Data
Let’s take a look at current consumer habits.
Did you know that an estimated 22.2 million Americans will cut their cable this year? That’s not even counting the other 34.4 million who have never purchased cable in the first place. And that number grows higher and higher every year as many young Americans — particularly millennials — are finding their day’s entertainment through digital streaming services, social media and platforms like YouTube and Facebook.
Currently, Facebook has more than two billion active usersworldwide bringing billions of views to its video content every day. At present, it’s competing with YouTube — and its Google backing — to become the dominant online video platform on the internet. Although YouTube certainly has the name and appeal, Facebook has a commanding data-intensive infrastructure that favors native content to such a degree that it performs with 10x the reach of an embedded YouTube link.
Instagram — owned by Facebook — and Snapchat have audiences of over 250 and 173 million daily active users respectively. Both apps feature a story functionality that courts users into engaging with the app almost exclusively through video.
So given the access these video platforms present, how can marketers use them to their advantage?
Using Video Marketing For Your Brand And Business
As millennials are now the country’s largest demographic at 75.4 million, their presence and consumer behavior is signaling a wave. They want their information and entertainment fast, at their convenience and, most importantly, in video form.
The industry has made it clear that video is the premier vehicle for information delivery and visibility. Here are a few stats to remember:
1. Almost 50% of internet users look for videos related to a product or service before visiting a store.
2. Video is 50x more likely to get organic page ranks in Google than plain text results.
3. Marketers who use video grow revenue 49% faster than non-video users.
4. The four most common video types are: explainers, product demos, how-tos and testimonials.
When looking to implement video content and ads, there are a variety of channels that are dominant, and for good reason. I’ll rank them here:
YouTube: As mentioned earlier, YouTube is big. With more than one billion visitors each month, it’s got the visibility. Couple that with segmented demographic targeting and it presents a great opportunity to cast a net that’s big or small to build awareness and conversions.
Facebook: Facebook has a tremendous asset in its hands with its all-encompassing consumer data. Think about it: You don’t need to have an account to access YouTube content, but you do when it comes to Facebook. Facebook is a monolith when it comes to user data, which ultimately translates to greater niche targeting and more qualified leads.
LinkedIn: For marketers, LinkedIn can present a sizable opportunity to reach B2B clients through educational video material, as its business-oriented focus can be a tremendous filter depending on your target audience.
If you’re doing any form of content marketing — blogs, presentations, white papers, seminars, etc. — and you aren’t coupling it with video, you should be. Not only does video perform better than any other form of content, it’s also heavily favored by consumers.
As millennials continue to replace baby boomers as the tastemakers of this country, understanding the shifts in media consumption — particularly through mobile — will be critical to your growth as a brand or business.
Article written by: Corey Quinn