The state of video marketing and a look into 2020
Over the last few years, the consumption of video has skyrocketed, and audiences continue to want more.
In 2019, about a third of internet activity around the world was spent watching video, and YouTube is currently the second largest search engine behind Google. That’s because every day videos are used to solve problems, answer questions and provide information on just about every topic imaginable. They also have become a prime form of communication for marketers.
From how to’s, best practices and thought leadership to case studies and so much more, all messages and communications in your content plan can be shared in video form. There are also several platforms that give marketers the ability to engage with its target audience through videos and even create it, a concept known as user-generated content. The increased demand for video is reason enough for marketers to get on board with this tactic, but the proof also lies in the ROI.
Video marketing works
In 2017, 63 percent of businesses were using video as a marketing tool. Just a year later, that number increased to 81 percent, and jumped to 87 percent in 2019, according to Hubspot. Marketers are learning to leverage this form of content and can nurture audiences from the awareness stage through completing a transaction.
According to Small Biz Trends, social posts that incorporate video are 12 times more likely to be shared than posts with text and an image. Ninety-two percent of mobile video consumers share videos with others, so not only are marketers reaching audiences, but they’re getting viewers to spread their messaging for them.
Email campaigns that incorporate videos increase click-through rates by 200-300 percent and plugging a video into a digital ad or landing page can increase engagement as much as 80 percent, which helps generate leads. What’s more, 70 percent of marketers say videos produce more conversions than any other type of content.
From a B2C perspective, I can personally attest to video’s effectiveness. I recently purchased overpriced makeup (and much more) that I was not even in the market for after watching a video ad directly through Instagram. And I’m not alone: one-third of Instagram users say they have made a purchase directly through the platform.
In the realm of B2B marketing, decision makers also are enticed by video: about 50 percent of executives look for more information after seeing a product or service in a video.
Video marketing trends for 2020
With Instagram, Facebook and Snapchat stories, live streaming and IG TV, video is dominating social media platforms. While the need for video content on web is still important, posting video content on social is critical. Even Twitter is being used for video. According to Insivia, 82 percent of Twitter users watch video content on Twitter. Here are a few more areas where video marketing is trending in 2020.
Lower expectations for quality.
Videos no longer require a full production, and thanks to built-in tools on social platforms like Facebook and Instagram, marketers can create and upload videos with the touch of a button. While a strategy and plenty of planning are important, the execution of video content has never been so easy. Plus, videos recorded and published with smartphones create an element of relatability to viewers.
And speaking of lower-res videos, live streaming is another simple way to create video content while engaging viewers. The execution is as easy as Facetiming a friend and allows the host to answer viewers’ questions or acknowledge their comments in real time, making viewers feel like they’re being spoken to directly.
The rise of stories
People want quick, entertaining and engaging updates, and stories allow marketers to do that. In the last two years, the number of ads in between stories has tripled and will continue to rise.
Today people are watching less TV and opting for short, online videos: 60 percent of people would rather watch online videos than television, according to Google. Instagram launched IG TV in June 2018 and allows users to watch 60 seconds to one hour-long videos directly on the platform. Here’s what the platform has in store for 2020.
Virtual reality and 360-degree video give audiences a view of every direction, offering them an engaging and “immersive” experience. Research shows that 360-degree videos have more than a 46 percent completion rate and according to Global Market Insights, virtual reality is forecast to grow 81 percent from 2016 to 2024.
Thanks to boomerangs, a threesecond clip on repeat is considered a video and gets more engagement than a static image, and platforms like Tik Tok are helping short clips go viral. The app launched in 2016 and just a few short years later there are more than 500 million active daily users. Currently, the app offers video ads between user-generated content, and big brands like Red Bull and Nike seem to be invested.
Whether you have the budget to hire a tech-savvy videographer to create a virtual reality experience or are a nonprofit utilizing affordable tools like Facebook Live, videos of all shapes and sizes have proven to be an effective form of communication.
Not sure where to begin? Start small and try utilizing stories or plan a Facebook Live Q&A to answer common questions from an audience.
For more trends on both video and general content marketing, check out our B2B Trends Report below.