A new report by the IAB (Interactive Advertising Bureau) states that the digital video ad spend continues to rise, and as per the report, on an average, each advertiser is likely to spend on an average of 18M in 2019—nearly 25% over last year.
Some of the key findings from the industry statistics:
- 87% of businesses now use video as a marketing tool. (This figure has seen a sharp rise from 63% in 2017, and 81% in 2018.)
- 91% of video marketers consider video an important part of their marketing strategy. That’s an increase from 82% in 2017 and 85% in 2018.
- 83% of marketers say video gives them a good ROI (up from 78% in 2018.)
- 90% of video marketers feel the level of competition and noise has increased in the past year.
- But despite this – 99% will continue to use video in 2019, with 88% saying they’ll spend more than they did in previous years.(Source: Wyzowl)
Online Video Marketing is Here to Stay and Rise in Popularity
Several digital marketing trends fade away quickly. For instance, blogs that focused on quantity over quality, long-text heavy eBooks, email marketing, text-only SEO strategies were never able to remain relevant. However, if there’s one trend that has been increasing in popularity since it debuted, then it’s undoubtedly – video marketing.
Video marketing is a total game changer, and it shows no signs of slowing down. A research conducted by Wyzowl with 613 unique respondents in December 2018 including both marketing professionals and online consumers proved that:
- 96% of people say they’ve watched an explainer video to learn more about a product or service.
- 79% of people say a brand’s video has convinced them to buy a piece of software or app.
- 68% of people say they’d most prefer to learn about a new product or service by watching a short video. This makes a video more popular as a learning tool than text-based articles (15%), infographics (4%) presentations and pitches (4%) ebooks and manuals (3%).
With numbers like these, it’s no doubt that video advertising & marketing is here to stay. Now, coming to the pressing question, how will videos change and grow in 2019 and beyond.
Here are some of the latest video marketing trends that are offering huge ROI.
Video streaming gaining popularity
Live video streaming services are increasing in popularity. A large number of individuals, influencers and businesses are making use of video streaming services on Facebook, Instagram, and other social media platforms. Live videos create more audience engagement and help to hook in viewers for a longer time compared to pre-recorded videos.
Video is getting Personalised
Today, it’s easier to shoot videos than ever before thanks to the availability of high-quality cameras on smartphones. This makes it possible for marketers to send personalized messages to individual customers or customer groups. One-on-one videos are being used for follow-ups, product inquiries, delivering support, or to just say thanks to a customer for a purchase.
Video Ads are Getting Super Short
Getting viewers to watch video ads without clicking on the skip-ad is one of the biggest challenges faced by marketers. Digital video marketers are getting super creative and creating super short video ads that run for just 3 – 5 seconds so that they can get the message across before users tap on the skip ad button.
Video is evolving to become Search-friendly
The use of closed captions and AI tools are making it easy to search for videos online. AI and machine learning tools can quickly transcribe audio tracks of videos, thanks to advances in voice recognition, thereby making it easy to search for videos and video content. Google recently announced that when marketers add video previews to the carousel, it makes it appear in regular search results.
Video has gone 360-degree
Recently, there is a huge rise in the number of 360-degree video content, which provides customers with an immersive and interactive experience.
Why should you care?
As digital marketers, it’s essential that you stay on top of video marketing trends. With higher ROI, more customer engagements, better conversions, video marketing is a must-have arsenal in your digital marketing artillery. And with mobile network capabilities on the rise, with the world moving from 3G/4G to 5G, it’s no doubt that video marketing is here to stay, and video production and consumption will continue to explode in the next few years.
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