Old-school marketing involved paper flyers pasted on people’s windshields and hung on their doorknobs. More modern marketing evolved into email marketing and targeted ads. However, video is one of the most engaging ways to reach a potential customer, and video marketing is fast becoming as tried and true, as it were, as high-pressure landing pages and opt-in email campaigns. That said, as a marketing strategy, it is already evolving. The dangers of missing out can be counted in profit dollars. Similarly, the benefits of hitting the ground running–or reaching out from the moving frame–are also counted in profit dollars.
Trends That Will Transform Video Marketing In 2020
Web television, otherwise known as a video log, or vlog, is becoming more prevalent due to the advent of smartphone functionality. Everyone knows that you can watch video on your phone, but if you look at the latest models, you can shoot video in high definition, edit the footage, and post it to your vlog with a few deft swipes of your thumb. Because video is 600 percent more effective than text, you can understand that marketing front runners are jagging to dominate this particular type of content production.
2. Educational funnels
Older people grew up on television and infomercials. Younger people grew up on a smartphone and pop-up ads, interstitial ads, and the traditional advertisement plopped on the front page of search results. Consequently, they know how to spot an ad, and the conversion rate for these ads is low compared to the conversion rate for video used as an educational tunnel. Additionally, a typical ad offers no value. It is just a blatant shout out to all the digital passersby to come on over here and please, please, please buy something from me.
An educational video, however, offers value. Potentially, it offers a lot of value, and this value instantly endears people to the person delivering said value. In fact, the sales agent becomes a trusted friend, a mentor, a coach. Finally, if that educational video also offers additional value in the form of another product, which is then offered at a slight premium, more people will make a purchase of this additional content or product because they already trust the company’s ability to provide value. Via education, this process funnels people from the video to the product, resulting in a sale, and this type of video is called an educational funnel. Watch for it.
Part lecture, part digital classroom, a webinar allows an expert to either hold a live conference for an online audience, or he or she can pre-record the information and make the video available at a scheduled time for people to watch. Following the live presentation or the showing of the recorded video, the forum can open itself to questions. The effectiveness of video combined with a teacher allows people to actually attend an event rather than consuming the content passively at home. Additionally, the interaction that comes with a brief question-and-answer session engages people, increasing retention. In short, webinars connect people with the brand or a product, increasing the chance for later sales. Additionally, webinars create community, which increases customer loyalty. Because teleconferencing has become so inexpensive and can now keep up with the high-speed delivery demands required by high-resolution video, webinars are projected to become a ubiquitous form of content delivery.
Although 360-degree video presents more challenges for a content producer, the novelty and immersive nature of the medium work to create a video that can be much more memorable than text or traditional video. Additionally, YouTube offers a massive channel strictly for 360-degree video, providing content providers a ready-made delivery system for people interested in the immersion that comes with being able to choose what to look at rather than stare at a screen as the content is delivered.
As opposed to 360-degree video, virtual reality (VR) and augmented reality (AR) place a potential consumer directly in a digital world. VR, for instance, works well as an educational funnel. Additionally, games provide an intuitive platform for cross-marketing products, such as movies, books, or music. Finally, architectural visualization, otherwise known as archvis, is one of the predominant markets for immersive marketing video for real-estate agents and property managers. Because VR has now reached eye-resolution capabilities, true photo-realism is on the horizon, making immersive marketing the perfect tool for a variety of industries.
6. Longer run times
YouTube’s skip-ad feature is driving a trend for video developers to design ads short enough to play completely by the time the skip-ad button appears. The thought behind this is that if the ad completes, people will remember it longer and act on the call to action more often. Unfortunately for video marketers spending thousands of dollars making quick videos, this simply is not the case.
For instance, researchers have discovered that people actually enjoy and retain information presented in longer videos. In terms of duration, the target length is approximately 15 minutes. This finding is counter-intuitive and directly contradicts current short-advertisement best practices. The key, however, for producing such a video is that this longer video–whatever its topic–must provide some sort of value, be it entertainment or function.
Consequently, longer videos are becoming more cinematic and more dramatic. In short, they are becoming something akin to an episode, and viewers are responding.
7. User generated
Companies that engage their users with user-requested video enjoy a much greater brand loyalty than companies that produce content proposed by a think tank. It is easy to understand, of course, as these types of videos are exactly what users want, and they often come in the form of tutorials, user guides, and unboxings. Unboxings, for instance, are something of an evolution of a product review in that users can see exactly what to expect from a product along with the benefits and problems. The key to this trend is responding to comments and keeping engaged with viewers as they make suggestions and requests. Although this type of video requires a certain amount of administrative effort, the time and money spent on this effort will have a much higher return on investment (ROI) than time and money spent on producing videos based on guesses about what viewers want to watch.
In addition to longer run times, videos are becoming serialized, linked by theme, narrative, or product. Professional vloggers can run episodes weekly or as time allows. In fact, it seems a certain randomness in the schedule creates a feel that the producers are human rather than celebrities far removed from normal schedules and daily responsibilities. Regardless how you feel about guns, the NRA, for instance, is one such producer of episodic videos designed primarily as a sales tool. That said, people with shallow pockets also enjoy success with this format by producing how-to videos. The home-renovation industry, for instance, is a chief producer of episodic videos that revolve around a fixed celebrity responsible for branding a product, building a following, and driving third-party ad revenue.
Much like webinars, live video is an event. This format hearkens to a past where people gathered at a set time around the television to view a series or show that was only going to be on right then. Consequently, live video increases engagement by creating community and providing value, and this particular format is taking many shapes.
- ask me anything (AMA) series
- product usage: hails and fails
- company announcements and promotions
Additionally, for vloggers or Instagram influencers, live video is a way to connect with fans while also subtly promoting third-party brands via product placement or review.
Although widescreen video is easiest to look at, video shot in portrait mode–vertically–is actually easier to view on a smartphone as the viewer does not have tilt or rotate a phone to watch it. This type of format might present a lot of challenges for episodic video, but it lends itself quite well to live-chats, AMA, and branding where talking with or to a viewer is the primary means of informational exchange. Even product unboxings can be easily accomplished with a phone tripod, and as people increasingly transition from wide monitors to phones for their daily video consumption, vertical recordings are projected to become the norm.
Video Marketing Statistics
- More effective – In terms of email, mentioning a video increases clicks by 13 percent. Videos on social media increase engagement by 33 percent. Embedded video increases site traffic by 55 percent.
- Increases sharing – A whopping 92 percent of smartphone users share videos.
- Better branding – In terms of branding, 79 percent of customers who hesitated before making a purchase self-report that a video was the deciding factor in their deciding to finally make the purchase.
- More links – Building an online business relies, in part, on inbound links. Bloggers that rely on video to disseminate their brand report 300 percent more links than they were able to obtain without video.
- More time on site – Websites with videos retain online surfers 88 percent better than sites without video.
- Silent – People love the video, but they hate the sound. In fact, 85 percent of Facebook viewers watch after hitting the mute button.
- Text is dead – 82 percent of content will be video within three years.
- What is your neighbor doing? – Consider these two facts. The United States has approximately 350,000,000 people in it. Of those, 75,000,000 of them watch online videos–every day. That translates into 21 percent of the population watching online video at any given time. What is your neighbor doing right now? There is a good chance he or she is watching online video.
- Made for the brain – If this sentence were a video instead of text, your brain would have processed it 60,000 times faster.
- Increased ROI – You only want to spend money if you make money on the money spent. With 360-degree video, the return on investment (ROI) reaches almost 10 percent as people report a more unique, engaging story.
Thanks for reading "Innovative Trends That Will Transform Video Marketing In 2020", by the Linchpin Team in Chicago, Raleigh, and Wake Forest.