by Monica Paici, Internal Marketing Director, PIN Business Network
If a picture is worth a thousand words, a video must be worth a million. 2017 has been declared the “Year of Video Marketing” by Forbes. Just consider this, according to Netflix, viewers watched over 9 million hours of content in the last three months. Granted, much of the content being consumed was binge watching original series and other network shows, but no one can dispute the power of video.
“Video is projected to make up as much as 82 percent of all Internet traffic by 2020.”
– Cisco VNI Forecast and Methodology, 2015-2020
In this fast-paced world with attention spans getting shorter, it’s no wonder online video is gaining ground. People want content and messaging to be both educational and entertaining, and video delivers in spades. It’s easy to consume and according to Psychology Today, “Our brains process video 60,000 times faster than text.”
While most businesses can’t compete with Netflix content, branded video should be a part of your digital strategy. Your videos don’t have to be perfect. What counts is in the content. Make it authentic. Branded video needs to stand out and engage consumers. Short and to the point works best considering the average attention span is now just eight seconds. Of course, it should be entertaining, but most of all, it should be relevant for the audience. We all get annoyed with irrelevant content and that goes double for millennials. Highlight something about your product or service that potential customers find beneficial or entertaining. Tips and tricks and how-to videos are often a hit. Think Facebook’s “Tasty” videos. Those “snack” size videos that show you how to cook, prepare or make your next meal.
“3-5x MORE TIME is spent viewing pages with video vs. without.”
-Mukul Krishna, et al.; “Video: The New Normal for Enterprise Communication & Marketing
Branded video should also be easy to “consume.” It is better to be shown then told, and making sure your video is easily consumed on all devices is key. Think social media. The majority of social media is consumed on a mobile device. Brightcove research indicates “Consumers are spending an average of six hours per week watching video content on social media networks alone.” Mobile video traffic now accounts for more than half (55%) of all time spent on mobile, according to Cisco.
Social video viewing is gaining in popularity and your branded video should mix easily with social media. Viewers should be able to share your video content on social networks and promote what they’re watching quickly and effortlessly. According to Facebook, a video should ideally be 15 seconds or less…40% of a Facebook audience will watch until the end of a 7-second-long Facebook video, but this drops to 78% for videos over 30 seconds. For social viewing, short and sweet rules including having a silent option. Digiday confirms that text (subtitles) are critical and that 85% of Facebook videos are viewed without sound.
While Facebook is gaining ground with video consumption (36%), YouTube still dominates social networks for video consumption at 50%. Snapchat, Twitter and Instagram make-up the rest of the 14%. The advantage of YouTube is it can let you expand and lengthen your branded video content. David Waterhouse, the head of content for Unruly Media, has compiled a list of the average video length for top 50 most shared global video ads and the top ten averaged four minutes and 11 seconds. These videos make an emotional connection with viewers and tend to tell a story. “Video marketing content isn’t about making the sale, it’s about creating a conversation with its audience.” – Ali Liaquat, Marketing Profs.
Recently, we’ve been hearing a lot about live video. Some good things and some bad things. When it comes to using live branded video, the jury is still out. We know live video provides immediacy, spontaneity and instantaneous feedback. Live streaming is growing and social media channels continue to vie for audience attention. If you want to try your hand at live video, you might consider streaming a product demonstration, a presentation by your sales staff, etc. Just be prepared for the unexpected. Remember it’s live. No re-takes.
“In the US 45% watch branded videos and 53% made a purchase after watching a branded video.”
Video can be an integral part of your digital strategy. It takes investment, but it can pay off. Video can boost conversions and sales. Video ads have an average click-through rate (CTR) of 1.84%, the highest click-through rate of all digital ad formats. Review your budget and crunch the numbers and see how video can amplify your organization’s business goals.