Why Video for Marketing?
One thing is for sure. TV is losing its appeal. Of course there are still people glued to their TVs watching their favourite daily dose of soapies or consuming copious amounts of live sporting events such as the Olympics or the always popular football. But on the whole services such as Netflix who offer streaming entertainment have made it far easier to watch our shows when we want to and how much of it we want to see.
And without ads.
It’s truly amazing to actually watch some TV such as live tennis when one normally never switches the TV on. Or the Olympics. Suddenly one is dished up a range of rubbish commercials that are almost ludicrous in their interpretation of the marketing message. Was it always this bad? Probably. We were just so used to it.
For some interesting stats check this link.
If there is a decline in TV Consumption how do you reach your Audience?
Via video. Video itself has not lost it’s attraction. What TV’s final downfall might end up being is that consumers have to watch TV when it’s dished up. Of course this is fine with sports as we all know that a game happens when it happens. But other items we like to follow or watch when we want to.
This means that we get breaking news via Twitter, news bulletins via email newsletter or via our phone apps, weather forecasts via weather apps, entertainment via online streaming and the list goes on. Very difficult for TV to beat that.
This means that companies wishing to market to their customers need to create a message in a format that their target audience enjoys. Something available on the go and relevant to them and their lifestyle. And video has not lost its appeal.
The How To Video Revolution
Some of the biggest success stories in the video marketing field have been How To videos. In particular DIY stores such as Home Depot in the USA have become the go to place for How To do DIY impacting well in terms of promoting the stores.
Older generations used to ask a friend or family member for advice and assistance on how to make improvements to the home. Now there’s Google. Much quicker and almost always a lot more accurate too. Jumping on that trend could mean a greater relevance to a company’s customers than a random TV commercial that cost a fortune to create and to show.
Much easier to Track
Besides online video’s effectiveness in reaching customers it’s main attractiveness to companies should be the fact that online video consumption can be tracked. Video hosting companies such as Wistia make it easy to analyse visitor reaction such as watch duration and re-watch rates for instance. This is realtime ROI proof. Analytics of TV reach are a hit and miss affair and are not anywhere nearly as accurate as online tracking is.
Video Consumption is Growing
Snapchat’s rise in popularity has been phenomenal. 150 million users every day. More than Twitter in fact. Facebook says that video is starting to become a focal point too. Users watch 100 million hours of video per day. Or another mind blowing stat is that 500 million people watch Facebook video every day.
Instagram reached 500 million users in June 2016. And has launched it’s own Snapchat competing 15 second video sharing feature. Read more here. Video continues to grow in popularity opening the doors for huge marketing opportunities for companies wishing to promote their products.