Author: Anna Jones
In the digital marketing age, the trends are clear: videos for consumers and within digital marketing campaigns are extremely popular in the world of advertising. In recent years, video marketing has been primarily targeted towards millennials and online shoppers, as 2015 saw approximately “$16.2 billion spent at independently owned retailers and restaurants,” according to Forbes.com.
These insights come not only from dollars spent, but also from shoppers polled. A 2017 Robin Report cites that shoppers remain unimpressed with ecommerce models of engagement and experiential marketing - that’s where video marketing comes in. Because video is the “main channel for millennials and Gen Z,” advertisers have learned to utilize it to their advantage. Facebook is a good example of this - when the social media giant changed its algorithm in 2015 to push Facebook Live (and hence, video), it changed the social media consumer landscape.
According to Ben Winkler, CIO of agency OMD, “Facebook has been studying TV for a few years now, and they see there is a certain equation to the size and success of TV.” As Facebook has made the most money from its online ads, with reported revenue being $10.2 billion in 2016, the company is now looking to make even more by investing in video ads and video content.
While Facebook is gearing up to be a television competitor, marketers must taken into consideration that Facebook video advertising is not the same as advertising on Instagram, YouTube, SnapChat, etc. Marketers often make the mistake of thinking that a call-to-action is enough - it isn’t. Restructuring thinking around this concept is necessary, as what Facebook and other platforms are looking towards now is engaging content. But how can we measure organic interactions that translate into sales? The social media giants seem to think that the key is video content - and they would be correct.
In that vein, brands that have their, well, branding down pat are the ones making waves in the video marketing niche. If someone started a conversation with you discussing Amazon Prime, you would likely either think of a.) 2-day free shipping or b.) Prime Video. It’s probably more likely that you would think of the former, but second place ain’t last place. And Prime Video is another “free” service you get with your monthly or annual Prime subscription, allowing you, the Primer user, to watch TV shows and movies as they become available - often times, before other platforms, like Hulu or Netflix, release them.
Statistically speaking, utilizing video is something brands can’t afford not to do: Zembula reported in 2017 that videos in emails lead to 200 - 300% click-through rates and including video on a landing page increases its traffic by up to 80%. Those are some impressive numbers to read, and music to video marketing companies’ ears. If content is king, then video is queen - it holds all the power. It’s up to brands to decide how to best wield it.