The New Digital World…
Over the past two decades, advancements in technology and evolving digital habits have altered business and marketing education. Throw a global pandemic into the mix and you’ve got a digital trifecta. The new digital world is coming in hot, and we have to be prepared. What do these global impacts really mean for video marketing?
“It is predicted that customers will spend 100 minutes a day watching online videos in 2021”
This is a staggering 19% increase from 2019! But… why?
Well first things first, the true digital natives, Gen Z are starting to trickle into the consumer market. With that, they bring a deep rooted connection with the Internet of Things, Wi-Fi, social media, smart devices, constant connectivity and on-demand video. The internet has been labelled the drug of the new millennium.
“Mobile video consumption rises 100% every single year”
With the new Generation comes the rise in social media video marketing, which is causing a ripple effect for video marketing and the boundaries are being pushed daily. It’s not just the young ones that are consumed by videos. Statistics are showing that in-home media consumption is increasing across all generations.
This has big implications for digital marketing. Effective marketing in today’s global environment is based on satisfying customer requirements. So, that leads us to the question of well, what are our customer requirements in this crazy new digital age? There’s one thing that researchers, academics, businesses all agree on – digital is the future and there’s no going back. Online resources have streamlined marketing, made it more accessible and the creativity of video delivery has made it much more, dare I say it - fun!
To do this effectively in this day and age, things are changing. More than ever making marketing videos for your business requires creativity and knowledge of human psychology. The blend of these components makes it possible to create real miracles of advertising at minimal cost.
In this blog, I’m going to cover the impacts of the pandemic on video importance and why video marketing is important in 2021. For those of you who are already sold on using video I’ll be rounding up with some secret information nuggets that will hopefully help you figure out how to use video more effectively.
2020 Turned the World Upside Down
Across the globe in 2020, people, businesses, schools and normal life got put in a washing machine and switched to spin cycle. With this hectic life change, came the swift transition to our new digital lives. People put down their pens, packed their desks up and headed home to start wandering down their new screen heavy path.
Businesses have had to adapt. In every single way. Suddenly companies who swore they would never have a work from home force, have a whole tribe of living room to home office commuters. It’s become apparent that this can be successful, but only if people accept that work must become much more humanised to keep us happy.
Yes they were funny- but for one main reason. They humanised these people, and suddenly they were ‘experts in their trade’ but also parents, also people who technology got the better of, also people who had partners wandering around in their pants.
The same rule applies to marketing. Those that can truly humanise their services using online marketing will win the day.
So, how do we humanise marketing? That hasn’t changed so much…
Video. Video. Video. Video remains a key priority for marketers with regards to usage and spend. Both increased slightly throughout 2020, with no plans to slow down in 2021.
We (whether we like it or not) are living in our devices at the moment. For the video and media marketing world, this is a serious benefit. Online video views have exponentially increased in 2020 with “91% of marketers feel the pandemic has made video more important for brands”.
The global pandemic has caused devastation and uncertainty across the world. But one thing is for sure. People are still watching videos and engaging with online content more than ever. Video has become an even more integral part of the consumer journey. Now is not the time to tighten budgets on video marketing, it’s time to try and take some sprinkles of good that have come from this nightmarish pandemic and help encourage your business to flourish.
Yeah… But Why Invest in Video in 2021?
Okay sure, more people are watching videos, but why should we invest in using video marketing?
Videos Increase Sales
Nope. Not a lie. Research has shown that 74% of users who watched a video explaining a product, subsequently bought that product. To top that crazy statistic off, I’m going to hit you with another one. When it comes to Return on Investment (ROI), a whopping 88% of businesses say that video provides great ROI in 2020, with this set to stay consistent in 2021. Video is proven to speed up the sales cycle as site visitors and potential customers think less and act sooner.
Help Engage the Social Snails
The snail customers are out there. The ones that scan your site, dip in every now and then, maybe sign up to your marketing channels, have a nibble and leave a trail, but don’t ever quite seem to reach the final destination. Video marketing can help turn these slow runners into the winners and change the rules. These people need more trust, reciprocity and they need to be able to relate to either you, your product or your services. Video is a driving force in making that happen. It captures a wide audience and bridges the gaps in culture, disability and age. The fact it is versatile, appeals to the eyes and ears and to mobile users may help push those snails over the finish line.
They work on ALL devices
It may seem obvious that of course videos work on all devices… but what about their impact? Well, google research gives us the facts. People who view videos on their phones are 1.4 times as likely to watch ads as those who view videos on desktop computers or televisions. Smartphone viewers don’t just watch more ads, they also share them.
Here’s the clincher… those who see ads or branded content on their smartphones are 1.8 times as likely to share it as their desktop counterparts.
People have a compulsion to share, both online and offline. Watching videos on mobile and tablets is intimate and personal but watching on a desktop or a TV can be more impressive and experiential. These micro-moments are the new battleground for hearts, minds, and wallets.
Google Prefers Video
This is an important one. Google owns YouTube. Google bots scan your website to optimise it for SEO. Google runs all (mostly all). As videos encourage people to spend more time on your site, this is evident to Google search engines and will boost your trust score. The higher you rank on google… the more visibility… the more sales. It’s a no brainer.
Video adoption grows partly because of advances in technology but also because it’s easy to spread across the globe. Worldwide, the video marketing market size is expected to expand further, with a value of approximately $33.3 billion in 2020 to reach $45.6 billion by 2025. Around 70% of video marketers expecting a higher video marketing budget in 2021, and the other 30% expecting it to be lower. Don’t get left behind.
Selling your services or products is based on trust. To put it simple, video will engage users better and evoke different emotions when compared to text or image stills. It helps you showcase your products in a conversational manner, instead of pushing sales.
Spilling the Video Juice…
Okay, okay, we all get by now why video marketing is important, and we understand the volume of benefits associated with digital video promotion…but what makes a great video? What keeps viewers engaged? Is it a good story? Or maybe it’s all about reaching the right audience at the right time.
I wanted to pull together some top tips I’ve learnt along the way to ensure that when developing a strategy for your video marketing, you get it right.
Tell your Story
As quoted by Ash from Buffer, the top secret to creating successful video content is to place your focus on telling your story, not selling your service. Engagement lies in connection. The better you can tell your story, the more likely your audience will connect. The emotional connection to the viewer in a video can make or break your video. In 2021, longer storytelling will rule engagement.
Vision is our Most Dominant Sense
Most information transmitted to our brain is visual. If you take pride in your business images, imagine how stimulating moving pictures can be to potential clients and customers. Before developing your video strategy, do some research into the types of videos your consumers are likely to digest. Is it micro-social media clips? Is it cinematic silent videos? Is it informative animations? Getting the delivery of your message right to appeal to your audiences sense is crucial.
Your Videos don’t have to be Perfect
It’s the content that matters… and that’s the part you dictate! You are in charge of curating your content. You are the paint brush, and the video delivery is the painting. What’s important is ensuring your video explains who you, your products and services in a concise, visually pleasing display.
“It’s fair to say that video is like pizza – when it’s bad, it’s still pretty good!”
Good Production Correlates to Trust- ONLY if the Story is Genuine
Whilst you don’t need jaw dropping cinematic quality, good production quality correlates with consumer trust. However, good quality video production never makes up for lack of substance, so channelling your message is the most important thing!
We are going to address the elephant in the room… Budget. Budget is almost always an issue alongside the time poor nature of smaller businesses. However, especially for Micro, Small and Medium size enterprises (SMEs), adopting effective and smart e-marketing strategies are particularly important as it can be so impactful. If you are an SME, it is even more important to apply your funds wisely to a strategy that is going to be most effective for business, don’t just scrap the budget. This is not just key, it’s critical.
The End… (or not)
If you are new to the video world, I hope this blog has given you a bit more insight into the benefits of video marketing. If you were already sold on using video methodology in marketing, I hope this has given you some interesting things to consider with your own video strategy going forward as we get more and more immersed in this digital world. If you have any more questions about video marketing or see yourself using it but have no idea where to start, please contact me here and I’m happy to talk it through with you and give some advice.
A few reminders from me before I go…
Don’t underestimate video marketing
Emotionally charge your videos
Don’t get left behind
Spend time explaining your message
Be creative and thrive!
Speak again soon,