By: TJ McCue
Look around: How common is it to see someone deeply engrossed in a video on their mobile device? In just a few years, it will take an individual more than 5 million years to watch the amount of video that will cross global IP networks each month. Every second, a million minutes, or almost 17,000 hours of video content will cross the network by 2021, according to Cisco.
Think about that – in just one second – more video will move across the internet than you could watch in almost two years of doing nothing else, including sleeping. Online video use is simply staggering from a consumer perspective. It is changing how businesses or brands communicate with customers and how we communicate with one another.
As a guy who sees and reads a lot of technology research and is barraged by statistics of every order, I find the data stream on online video, video marketing, and, in general, video in business to exceed nearly every other category that hits my wide tech-focused stream.
Animoto, an online video building platform, believes that we have shifted to a “video first” world. Cisco’s data certainly proves that out – we are building a world that does not include a lot of reading, but watching.
Here are just some of the video marketing trends I’m seeing:
- Video First. Consumers want to watch, but also produce video. Facebook coined this term last year when talking about making it easy for people to do both consume and produce – Facebook Live is one result of that overarching strategy. Businesses are shifting to using video to lead their marketing efforts.
- Live Video (or Live Streaming). Cisco states that Live Internet video will account for 13 percent of the total video traffic mentioned above.
- Square video grows in popularity. Square videos take up 78% more space in the Facebook News Feed, and get more engagement, than horizontal videos, according to Animoto.
- Video is driving purchase behavior (see the resources section at end of post)
- Video marketing creates stronger customer engagement
- Lower costs to shoot video and produce video; better tools. If you don’t do it yourself with software, you can hire it out – from the actual video shoot to the editing and final production of the video.
- Take a look at the Smartshoot pricing survey, a nationwide list of videographers and photographers. The average small business marketing video was under $1,000 in 2015. A medium-sized product demonstration video might be $2,000.
- Video as marketing method, but also as training tool (which one could argue is a bit of marketing, too, for employees and prospective employees)
- Marketers investing in paid/sponsored social video. Brands are paying to “socialize” or promote their videos – in essence, advertising.
- Social Video is Mobile Video
- Video Content Increases Trust (sort of related to #4 and #5), but video alone doesn’t increase the trust. Video that resonates is what matters.
- It is not YouTube OR Facebook for posting your business video – most brands are using both. See Tubular Insights blog post link below to find out which other social platforms are doing well.
In a recent blog post from TechSmith, the makers of video editing software Camtasia, director of marketing, Sherri Powers goes in-depth to explain how consumers vary in their levels of awareness and that impacts how successful you can be with video marketing. She points out that 85 percent of Facebook videos are watched without sound. If you didn’t know that, you might spend an inordinate amount of time on the sound part of your video to have it, more or less, go to waste.