Video Marketing Trends the Entrepreneur Should Embrace
Ever since I started adding vlogs to my blogs at Meemoeder.com, a world of opportunities has opened up to me. I have noticed more engagement, more invites to events and interviews, and overall better brand awareness. Video is here to stay so the entrepreneur should embrace it and follow the current video marketing trends to make the most out of it.
This blog will first give you some new statistics so you know how important it is for you to add video to your marketing mix ASAP and then, it will discuss twelve video marketing trends.
The state of video marketing in 2018
Adam Hayes of Hubspot has gathered current statistics by surveying 570 unique respondents in December 2017. The respondents consisted of both marketing professionals and online consumers. Here are the conclusions of the video marketing trends survey:
Video usage is on the rise
- 81% of businesses use video as a marketing tool: up from 63%, the number reported in the 2017 survey.
- 99% of those who already do use video say they will continue to do so in 2018.
- 65% of those who do not currently use video say they plan to start in 2018.
We watch a lot of video
Respondents were asked specifically how much video content they watch on a typical day and the average response was 1.5 hours. In addition, 15% said they watch more than three hours of video on a typical day.
Marketers rely on video to help them do their jobs
Video is often cited as a tool that helps drive various areas of business performance, and the numbers back up those claims:
- 97% of marketers say video has helped increase user understanding of their product or service.
- 76% say it helped them increase sales.
- 47% say it helped them reduce support queries.
- 76% say it helped them increase traffic.
- 80% of marketers say video has increased dwell time on their website.
- 95% of people have watched an explainer video to learn more about a product or service.
- 81% of people have been convinced to buy a product or service by watching a brand’s video.
- 69% of people have been convinced to buy a piece of software or application by watching a video.
- 85% of people say they would like to see more video from brands in 2018.
Consumers love video
Video seems to add tremendous value to our experience as customers. Where both video and text are available on the same page, 72% of people would rather use video to learn about a product or service.
We love to share
There is a popular misconception that people will generally only share entertainment videos. However, if you create video content that your specific audience enjoys, 83% of consumers would consider sharing it with their friends. Being a brand is not necessarily a disadvantage – content is king!
LinkedIn is poised to fly in 2018 but Snapchat not so much
Respondents were asked about all sorts of different platforms and techniques. The most eye-catching metrics surprisingly came from LinkedIn, suggesting that a video revolution could be set to take place here in the coming year. Currently, only 38% of marketers share video content on LinkedIn but three-quarters of them reported it to be a successful tactic and 55% said they would continue or start in 2018.
Funnily enough, throughout the past few years, Snapchat has been one of a number of social channels branded ‘the next big platform’ for marketers. Apparently, though, Snapchat is a must-have for millions of consumers but as a marketing tool, it is floundering badly. Only 11% of the respondents have used Snapchat as a video marketing platform and only 27% of them found it effective, which is the lowest rating of all the platforms or techniques. More damningly, its usage is set to fall in the next twelve months, with a measly 9% intending to use Snapchat for video marketing during 2018.
Video marketing trends in 2018
So, let those statistics sink in and check the following video marketing trends that could help you go a long way in 2018. The following list of video marketing trends has been compiled using articles by Shivangi Gautam, Chantal India, and Nancy Grace.
1. Instagram is the marketing cloverleaf
Instagram knows its audience of 800 million active users loves consuming video content so it first extended its video duration limit from ten seconds to one minute, then added a separate section for just videos on its explore feed, and, finally, made video stories larger than Snapchat ever did and extended them to DMs.
That makes Instagram the marketing cloverleaf that SMEs have been looking for. Marketers have realized the vast potential the app has, which is why you will see some really popular faces promoting brands of all kinds. The only way to really crack Instagram marketing is to post the right kind of video at the right time.
2. Tell the story you love
Stories: Snapchat brought them, Facebook tried to work them but Instagram owned them. What first seemed ripped off, Instagram Stories are now surpassing its competition by acquiring 250 million daily active users compared to Snapchat’s 173 million.
Stories are pictures/videos that last up to 24 hours for people to view. What really pushes people to view these stories is the fear of missing out on it before it expires. Some brands have played well on the temporary nature of stories; however, brands would need to invest more in creating the perfect stories that people do not tap through if they really want to claim an undivided share in a crowded market of raining videos.
3. Going live
Instagram, Facebook, and now YouTube have added live feeds to their services. Live feeds establish an instant connection. Also, there is so much personal interaction taking place between the story-tellers and the listeners. This personal interaction provides brands with immediate feedback. To improve customer relationships, expect brands in 2018 to logistically prep up and step up for live feed sessions. Finally, Instagram enables you to go live with a friend, which may bump up video collaboration among brands and influencers to a whole new level.
4. Video or ad?
Ads have become a necessary evil in the world of digital marketing but you can always work out a way to make them look less cringy and more pleasant. A good ad is when you cannot tell until the end whether you were being sold something to. YouTube has ads strategically placed between songs so that for a moment, you may not know whether you are listening to a song or an ad before the song begins. Facebook recorded a 47% surge in ad revenue in its earnings in early 2017; much of this came from video ads. Short-form advertising is all about effectively competing for user’s attention as they scroll through their home feed.
5. More advanced explainer videos
2018 will take the trend of explainer videos further as video is the best medium to explain anything. This will give space to brands to experiment with different kind of videos. Explainer videos can be made interesting with the use of sound, light, music, and interaction technique. Interactive videos actually engage a user in the learning process. They are not a new trend but they are going to become immensely popular in 2018.
6. AR and the future of video marketing
Augmented reality (AR) provides an opportunity for brands to garner organic reach on social media. Now that AR is a possibility, brands must consider how they can develop branded augmented experiences for customers. AR provides high-quality interaction experiences with the customers, resulting in durable brand-consumer relationships. It began with popular apps like Snapchat rolling out 3D bitmojis and face recognition techniques. 2018 may see better use of AR across multiple industries.
7. Square shaped videos
The format of the videos is changing and this affects all aspects of production and creativity. Rather than filming horizontally, phones and tablets have made us think vertically. More and more brands dare to flip things around and create vertical videos. However, videos in square format are increasingly successful as square footage occupies 78% more space in the Facebook News section and receives a higher percentage of engagement.
8. Cheaper than ever
Video recording and production are cheaper than ever. A huge variety of high-quality tools is at your fingertips, starting with your mobile phone. With a smartphone, a microphone, an editing program, and a little talent, you can produce attractive videos for your brand. If you are a newbie in this area, I have two reading tips for you. One is How to Start a Vlog for Your Business the Right Way and the other is What is the Simplest Way for a Newbie to Edit a Vlog?
9. Video quality will take precedence over quantity
As the video landscape becomes more competitive, the quality of videos that marketers put out will need to become more of a priority. People have short attention spans and are likely to click out of the video if it does not capture their interest. Nobody wants to watch low-quality videos and they will be unable to get the results that businesses are looking for.
10. 360-degree videos will gain popularity
More and more businesses started using 360-degree videos in 2017, and the numbers are likely to increase in 2018. These videos are considered to be another form of immersive content. After all, with a 360-degree video, the viewer can decide on their perspective when viewing. These can be viewed simply on the screen of a computer or smartphone or with a VR headset for a more immersive experience. 360-degree video technology is likely to alter the way customers experience online shopping. Marketers are finding new and creative ways to harness this potential for their brands.
11. Higher proportions of ad budgets for video
It is estimated that the amounts spent on online ads will soon surpass TV ad spending. Most marketers have plans to increase their budgets for video ads in the coming year. Also, most businesses have realized that they need to budget their money towards forms of media where people are actually spending their time. Many viewers are tuning in online to watch their favorite shows and big events rather than watching them on TV.
12. Effective without sound
Did you know that 85% of the videos on Facebook are played without sound? This offers a unique challenge to video marketers. Many of these videos are auto-played, so content creators will need to create their videos accordingly. The use of on-screen graphics and captions to grab attention is becoming more common. This way viewers can enjoy these videos silently.
Video marketing trends as part of digital marketing trends
Digital marketing, with and without video, has changed a lot over the last few years so what worked for you last year might not work for you this year. One of your jobs as an entrepreneur is to keep up with these changes. Your ability to create leads comes down to building trust and intimacy with those who need you the most and convincing them you are the most relevant choice. This might be overwhelming though. Consequently, in How Can Current Digital Marketing Trends Help the Entrepreneur?, I discuss ten current digital marketing trends and what they mean for entrepreneurs. This may help you put the video marketing trends in context.