Video is everywhere online; hosting platforms like YouTube and Vimeo; social media platforms like Facebook, Instagram, and Twitter, along with dedicated streaming services such as Netflix and Amazon Prime are all pumping out video content at a ferocious rate. And people are watching. In 2021 people are watching an average of 100 minutes of online video per day. This, up from 84 minutes in 2019, presents ample opportunity for video marketers to get to work.
The pandemic has made it more difficult to shoot videos on location or in person, so video marketers have been using alternatives such as stock videos to assist them in creating fresh and engaging content.
I don’t think there is anyone out there who doesn’t know the value of video in the marketing mix, but knowing and implementing are two very different things. This article will explore some of the trends that are influencing video marketing in 2021.
The numbers speak for themselves, so let’s dive in and talk about what they mean for the rest of 2021. 83% of marketers believe that video is becoming increasingly important, this isn’t too surprising given the increasing amount of viewership and video production but it means that more and more advertising spend has and will be devoted to online video.
99% of marketers currently using video, intend to keep using video throughout Q3 and Q4 of this year and 95% anticipate an increased video spend. This should impress on us the importance of video in marketing but there is a warning sign here also.
There is a fear among marketers that the market is becoming oversaturated with video in a similar way to the overuse of email in marketing over the past number of years as spam folders overflow and unsubscribe buttons are furiously mashed. This means that it is important to differentiate your video content in the same ways as you differentiate your product. Release content that is on brand and is appealing to your customers but also follows emerging trends in video rather than looking like all the rest.
Data, Data and more Data
It is no longer enough for companies to put out a single piece of content and assume it will have mass appeal and will elicit the same response across all demographics. Letting data guide your marketing efforts every step of the way will help to present the right message, at the right time, to the right people.
Maximizing your ROI is key, and knowing what platforms are best to reach certain groups and what content is working well for whom. The aim of using data drive marketing is not to stifle creativity but to lend more focus, assist in segmentation and assess efficacy.
Ads can be targeted using Facebook, Google, Instagram, etc., and A/B tested to gauge the relative effectiveness of the content with different demos at various stages in the marketing funnel.
Personalized video campaigns
We’re starting to see a bit of an uptick in personalized video production as companies try to create closer connections with their brand. Personalized videos make this connection by addressing viewers directly, often by name, because they know people tend to react and pay attention when they hear their name.
This sounds a little like that scene in Minority Report and indeed, a bit creepy but there are sound psychological reasons for why this works. A person’s name is their favorite sound and hearing something they like primes them for the message to come. Generally, a video template is created onto which CRM data is added. Check out this oldie but goodie from Cadbury, it’s gushing with sentiment and undeniably effective.
An end to less is more
The prevailing wisdom in online video marketing for the past number of years has been that shorter videos are watched more, and so are preferred to long-form videos. While it’s true to say that people watch shorter videos in their entirety more often it is important to consider the relative value of these views. If someone watches a video all the way through and has no engagement with the content or the product then their chance of conversion is likely going to be quite low.
In 2021 some companies are moving beyond this into more long forms of video content where the focus is shifted to narrative, quality, and clarity of message rather than brevity. One study notes that 80% of videos are 5 minutes are less but account for less than 30% of engagement. Just think of Ted Talks, they run usually 30 minutes and generate huge engagement.
It’s all well and good to know the value of video but to stand head and shoulders above the rest you should be wise to the latest trends and apply these differentiator videos through your marketing funnel.