You don’t need to look far for evidence of video’s increasing popularity. In the last quarter of 2019 we saw three big new streaming platforms come to market: Disney+, Apple TV+ and BBC/ITV subscription service Britbox.
As consumers, we’re more video-hungry than ever. And the TV studios are more than happy to keep feeding this insatiable appetite. Apple has reportedly committed an eye-popping $5 billion more to its original video content budget, having originally set aside $1 billion, and Netflix ended 2019 having spent more than $14 billion on original content.
For businesses, then, the message is clear for 2020: if you’re not creating video content already as part of your marketing strategy, that needs to change.
Listen to your customers: 54% of consumers told HubSpot they want to see more video content from a brand or business they support.
Barriers to video adoption
There are barriers that businesses are having to overcome in order to make video a pivotal part of their marketing strategy. Wyzowl asked those marketers who don’t currently use video why they aren’t following the growing trend – here are the top reasons given:
– 23% said they lack time
– 21% said they just didn’t know where to start
– 14% said they were unclear on the ROI of video
– 12% said they thought video was too expensive
– 9% said they didn’t feel they needed video content
– 5% said they were unable to convince key decision-makers of the value of video
The report found, however, that nearly three-quarters of those marketers said they expected to start using video as a marketing tool in 2020.
Make it real-time and dynamic
Harnessing video’s power
Videos have the power to stop users in their tracks, whether they’re browsing social media or your brand website. Not only that, videos tend to get shared more. Little wonder it proves such a great return on investment.
In order to feel the full effect of video, the creative behind it needs to be inspiring, imaginative and on-trend. Here are some of the hottest video trends to keep in mind as you prepare your video marketing strategy for 2020:
360-degree video experiences: If you want to showcase your products and services, you might want to opt for something a little more immersive, like 360-degree videos. These videos put consumers in control, allowing them to get “hands on” with a product without having to get out of their seat.
Shoppable videos: If you’re operating in the retail industry, it’s essential that you’re creating shoppable videos. By allowing social media users to shop on the spot via an embedded link, shoppable videos tend to yield better conversation rates than online store pages.
Authenticity: While Netflix and co are under pressure to produce more 4K content, brands don’t need to reach for such high production values with their video content. In fact, consumers crave authenticity above everything else these days – substance over style.
Educational videos: Educating your customers is all part of brand awareness. And what better way to educate your customers than through educational videos? As well as adding value to the customer experience, they can help you bolster yourself as a thought leader in your industry.
Soundless videos: If you’re trying to engage people during their working day or in a public place, you should consider creating soundless videos where viewers don’t have to worry about disturbing those around them. You can either do this through subtitles or by tapping into silent movie conventions.