Social video 101 (pt. 1)
With more than four in five global Internet users already watching video online, the market is approaching saturation. In part one of our social video 101 blog Sophie, our PR and Marketing Manager, writes about the rise of social video, key trends, and areas of opportunity.
With spend on more traditional forms of digital advertising, such as banner ads, in decline, marketing departments have been placing greater attention (and budget) on video, which now exceeds all other categories of digital advertising spend, except in-app advertising.
By 2019, internet video traffic will account for 80 percent of all consumer Internet traffic. Social platforms are taking a variety of approaches to grow video content. Snapchat was built on a video-centric strategy and is continuing to expand its video footprint, while Facebook, Twitter and Instagram now all offer live video broadcast capabilities.
By no means is the rise of social video a fad; it is a huge trend and only set to get bigger. In 2016, 60 percent of marketers used video in social media strategies because, not only has it proven to be effective in generating profit, but it also better engages social media users, in turn growing social following and audiences.
Mark Zuckerberg has said that we are shifting to a “video first world”. Video is now the most popular and desired advertising format among social media users, for the simple fact that people would rather watch a video about a product than read about it. With the ability to command a greater share of attention and drive interaction, social platforms are poised to become the leaders in hosting video content on the Internet.
Maximising return on investment is important for most companies and, in order to do so, they must understand the impact of, and key trends in, social media video marketing. Here are a few tips on what to look out for:
Social media video marketing has unique capabilities that allow for targeting and a more curated user experience through personalisation, which provides huge opportunities for businesses. Interactive videos can include clickable videos as well as embedded questionnaires, aiding lead generation and customer engagement.
Social media users want to see authentic content in real time that doesn’t focus on the hard sell. Through live video, brands can market themselves with honest and engaging content. As you may expect, behind-the-scenes style videos keep customers engaged by providing them with exclusive content they may not be able to access otherwise.
The rise of people using their smartphones to watch videos has grown significantly over the last year. According to Animoto, 48 percent of millennials now watch videos exclusively on a mobile device. It’s for this reason that brands need to make sure that content is adapted for mobile. Snapchat created the vertical video trend (you can read a blog we previously wrote on this, here) which makes watching videos on mobile devices easier for users.
Marketers are jumping at the opportunity to maximise brand visibility through social video – and if they’re not, they certainly should be!
Keep your eyes peeled for part two of our social video 101 blog to understand the video capabilities and functionalities of each social platform and our top tips on how to create an engaging video for your social presence.