According to Wordstream, as of 2018, nearly half of all internet users watch at least one hour of video on Facebook or Youtube every week, and the numbers are growing quickly. More video content is uploaded every 30 days, than the major U.S. television networks have created in 30 years and more than 500 million hours of video are watched on Youtube alone. That means there is a lot of opportunity out there for entertainment, edutainment, and video promotion if you can stand out from the crowd.
Not only do people love online video, but millennials are now “cord cutters” choosing to end their relationship with traditional cable companies and migrating to Netflix and Hulu. Traditional TV viewing is down by 17% by teens and millennials, as they are opting to use digital sources rather than cable. 85% of the US internet audience now watches video online and the 25-34 (millennial) age group watches the most online videos and men spend 40% more time watching videos on the internet than women.
VIDEO MARKETING ENGAGES AUDIENCES
Over half of the marketers in the world in a recent survey agreed that video is the most engaging medium to use for advertising online, and it provides the HIGHEST ROI. Trying to market B2B? 59% of executives surveyed stated that if they had an option between reading text and watching a video on a subject, they would choose the video. Social media video currently receives 1200% more shares than text and still image posts combined.
GIFS have also entered the “video” advertising market as they are now allowable on facebook ads, and done well, GIFS create more engagement and interaction than traditional ads and posts.
Video is also preferred by search engines and social media sites alike. Video marketing strategies have been shown to increase organic traffic from search engines by 157%. This makes sense considering Google owns Youtube and wants to support its’ own brands, so be sure you are setting up your video content for search engine success!
What makes a video engaging? Most experts agree you have 10 seconds to engage your audience TOPS before you lose them. If a picture is worth a thousand words, the first seven seconds of your video are worth a conversion, a sale, and another video view if you have a good enough hook. As we mentioned before there is a lot of competition out there for video views and a lot of noise, so grab your audiences attention and make it clear what the benefit of watching the video is as quickly as possible. Make sure after you post your video that you check your analytics to make sure your video is as engaging as you think it should be. The analytics you get back from Facebook and Google can literally show you the second you’ve lost most people’s attention, giving you an excellent opportunity to improve your content and your video marketing strategy.
With video marketing dominating content marketing, 64% of online marketing budgets are now moving towards video content. Brands are willing to spend more and more on video, especially if they are targeting millennials, and if its millennials they’re after, that budget is going towards mobile platform spends. Agencies now have the ability to buy spots using “programmatic” spending, where a computer bids on best times, audiences, and can buy up the best pre-roll and mid-roll times at the best price for brands creating a cost effective solution.
Brands will even skip programmatic buys and go direct if the content is exceptional, and this means top quality content. Brands will put aside 15% of budgets for these types of buys in this climate. If you’re interested spending top dollar to get in front of a ton of eyeballs, digital is no different from television – you can spend a high CPM (cost per thousand) for events like the Super Bowl or other sports content, or go to apps like CBS, NBC, or Hulu, and target high impression shows.
MAKE BETTER VIDEOS
One new tool that’s caught my eye is Fyu.se. It’s a selfie mixed with video, which is an incredibly engaging experience for a small business audience. It captures a person’s selfie and the motion around the person, and can grab a 360 degree view so that the audience is interested in the video, and it’s grabbing one object with different angles. They took this concept at Katy Perry’s “Prismatic World Tour at Epix” event and let her fans use it, and of course, the pop start even used it herself.
Small Businesses can put aside a small budget and use apps and editing tools these days to make 15 second videos for their social media accounts, and make a brand difference.