Video content marketing: Why it’s
From Damien Hirst’s formaldehyde cow to Chris Ofili’s elephant dung paintings, the prestigious and highly publicised Turner Prize always raises eyebrows. Yet it is also considered by many to be a barometer for the mood of the nation.
This year the prize was awarded to an artist for video work created on an iPhone, Charlotte Prodger (see video below). And the fact that all four of the 2018 shortlisted artists work regularly with film and digital imagery speaks volumes about the growing importance of video in how we communicate with each other.
The growth of video marketing
When you look at the numbers, it’s not hard to see the direction of travel. Video will make up more than 80 per cent of Internet traffic by 2020, according to Cisco.
Some 78 per cent of people currently watch online video every week and more than 55 per cent every day. Almost 59 per cent of executives say that if both text and video are available on the same topic, they’re more likely to choose video.
It’s little surprise then that brands are looking to tap into the power of video content marketing. Indeed, according to Animoto’s annual report on the state of social video marketing, 64 per cent of consumers said watching a video on Facebook influenced a purchase decision in the last month.
Branded video content: Five take-outs
Earlier this month, Caspian Media attended Branded Content Day, a celebration of branded video by experts from the likes of The Drum, Vice+ and Nemorin. Here are five things I took away from the panel discussion:
1. Video content marketing is highly memorable
They say a picture is worth a thousand words. That seems particularly true when you consider that viewers are hardwired to retain 95 per cent of a message when they watch it in a video, compared to just 10 per cent when reading it in text.
One of the reasons video promotes such strong brand recall is because the medium is highly emotive, said Graham Hayday, Director of Content & Strategy at Nemorin.
It’s also evolutionary: “The first markings that were left on cave walls thousands of years ago weren’t rudimentary letters, they were pictures.”
“It’s a very emotive format,” agreed The Drum’s Global Head of Branded Content, Rebecca Allen. “It’s also a great storytelling format. It is very immediate and allows brands to build trust in a way that I think pure text can’t.”
2. Branded video content must be strategic
Just because 55 per cent of people view online video each day, doesn’t mean they’re watching quality content.
This was a point stressed by Hayday when he said: “The world doesn’t need more video content. It does need more good video content.”
But what exactly constitutes good video content and where are some brands going wrong?
“A common failure is that brands don’t think strategically with their content,” claimed Hayday.
“I’ve seen many examples of brands doing a one-off video and spending quite a lot of money on it and not thinking about the distribution for the long-term aim. And it hasn’t worked, surprisingly enough. You have to think about how video fits in with your overall marketing strategy, commit to it and build an audience.”
He pointed to Channel 4 documentary show Extreme Everest, which was paid for almost entirely by Berocca, as an example of best-practice branded video content. “Brands need that commitment. That’s in turn how you get the ROI. You need to be strategic, authentic, good.”
So, you know you want to produce a good video – but where to start?
First, think about who you want to talk to, advised The Drum’s Allen.
“What do you stand for as a brand and how does that resonate with the people you’re trying to engage? Having a deep understanding of your audience is absolutely crucial and from there you can begin to build a framework. It’s about being a lot more strategic and thinking long term, not one-hit-wonders. How you engage on a regular basis.”
3. Are you a video content creator? Channel the extraordinary
It may seem obvious, but few people seek out mundanity. Running through the panel’s picks of great branded video content, George Webster, EMEA Content Marketing Lead at HP asked the audience: “How many of those videos displayed people that were ordinary? They were all freaks. They were outlandish in the way that they looked or behaved, so they grabbed your attention. Bland gets signed off all the time – have a point of view.”
4. Social platforms favour video
One way that you can justify video spend, explained Hayday, is by pointing out that social channels favour video. In particular, live video has gained status on Facebook – as part of that platform’s trend for incentivising content that creates high engagement.
According to Hubspot’s State of Inbound marketing report, marketers are already alive to this opportunity. Forty five per cent intend to add YouTube and 41 per cent plan to add Facebook video to their marketing efforts in the next 12 months.
5. Tech will make social media video content more creative
Technological developments have supported the explosion of video and with 5G forecast to hit the UK in 2019/20, that’s only likely to gather pace. However, it also means people will ask for more from content creators.
So, said Claire Bartolomeo, VP of Content at Vice+: “With lots of supply out there, overtaking demand, that does mean a decrease in quality of video. I don’t know what the future of video is, but as ad-blocking technology becomes more advanced, creativity is going to become even more important.”
Are you interested in video but don’t know how to incorporate it into your content marketing strategy?