Video content has never been more important - it is fast becoming the most effective way for brands to reach their audiences, engage consumers and drive sales.
Recently, when asked what Facebook would look like in five years’ time, Nicola Mendelsohn (EMEA Vice President) responded by saying “If I was having a bet, I’d say video, video, video”.
Few would argue with her, and it seems that this video trend is not limited to Facebook alone. 55% of people watch videos online every day. This is only expected to grow and it is forecast that, by 2020, video traffic will represent 82% of all global consumer internet traffic.
The implications of these stats are undeniable: video is here and it is here to stay. So, what benefits can video bring to your marketing strategy?
The most obvious answer is that video is one of the most engaging types of content you can use. A recent study found that, when asked what type of content they pay close attention to vs what content they tend to skim over, more than half of consumers said they consume video “thoroughly” - a higher number than any other type of content.
This is probably because video stimulates multiple senses at once, making consumers lend both their ears and eyes to the content created. More importantly, by engaging with these senses, video also allows you to tap into a consumer’s visual and aural memory, increasing the probability of ad recall.
The data speaks for itself: one report found that over a third of consumers could recall at least one video ad they had seen in the previous three months. This type of ad recall is an essential component of any marketing campaign, as it builds brand awareness, trust and loyalty.
Looking ahead, the level of multisensory engagement that video encourages will only increase in the future, as autoplay features are gradually adopted by more and more online platforms. For example, Facebook have recently announced their intention to introduce sound into their autoplay function, meaning videos that once played silently on people’s news feeds will now automatically play sound without users having to click on them.
But it is not just video-hosting platforms that are progressing - the technology behind video is also continually evolving. The past few years alone have seen the popularisation of live streaming, 360 degree games and virtual reality, all of which enhance engagement and allow full movement and interaction.
When devising a hard-hitting campaign, where you want to create an immediate emotional connection, video can give you the edge in a competitive market.
By using a brand spokesperson, you can encourage consumers to identify with your message on a personal level, rather than seeing you as simply another ‘robotic’ corporation or brand.
Not only does video allow you to create a person-to-person dialogue, the nature of this connection is also a lot more controllable - you can alter body language, tone of voice and eye contact to ensure that your communication is on message. Likewise, music, lighting and colours can all be deployed to elicit the desired emotional response.
Few would deny that video is one of the best mediums through which to foster a more personalised relationship with consumers. For this reason, it is unsurprising that a staggering 77% of consumers say they’ve been convinced to buy a product or service by watching a video.
By capturing a potential customer’s interest, video also provides increased opportunity for consumer-brand interaction. Video ads have an average click-through-rate of 1.84%, the highest CTR of all digital ad formats.
Aside from CTR, however, customers can equally respond to video using comments, likes and cross-platform sharing. Whilst obviously important for brand promotion, this interaction also provides a very immediate and easily-measurable method for assessing campaign performance in real-time.
In fact, video provides numerous actionable insights that allow you to optimise your campaign: you can measure how many minutes a user has watched, when they clicked off and the amount of times they watched a piece of content. Using this data, you can see what messages are the most engaging and tailor future content accordingly.
Video is no longer a tool that can be put into a neat little box, as it now overlaps with more mediums than ever before. For many campaigns, one recurring video across multiple platforms can help transform a once-disjointed message into a harmonious storytelling experience.
So, if you’re one of the remaining 39% of businesses that have yet to add video to their marketing strategy, you definitely need to start soon!
As digital consumers continue to crave video content for inspiration, information and entertainment, at Accord, we specialise in devising, editing and producing insight-driven video content strategies that influence the entire customer journey and help drive more efficient budgets. For more information, contact us today.