The world of TV and video has definitely come a long way, but the changes in consumer behaviour of where and how they consume video content has undergone a revolution unlike what we have ever seen before
Most surprising is that with a reach of over 17.5 million, the combined social channels of Facebook, Youtube, Instagram and Snapchat have overtaken Free-to-Air TV now, which has led the video domain for the past 60 years. While SVOD (Subscription Video On Demand) is coming close behind with a reach of almost 14 Million, Broadcast Video on Demand (BVOD) has a usage of just under 5 Million viewers.
Facebook has well and truly overtaken YouTube in terms of overall reach, but depending on who your target audience is, the channels will vary, Audiences between ages 18 to 34 years definitely prefer Facebook and YouTube over subscription or free-to-air, by as much as 10 per cent, while free-to-air tips the scales for the 35 to 55+ year olds. Most notable is that over half the consumption takes place on mobile devices.
For businesses to stay ahead of the curve, or at least keep up with the fast-changing consumer trends, video format across various social channels is literally a “must”. Whether you are a small or micro business or medium size enterprise, have an internal marketing team or not, video has to be a staple in your marketing mix.
More importantly, video channels should not be planned in isolation, but rather be used as a congruent multi-channel user experience across your audience’s key platforms. You first have to understand the way that consumers experience the fluid video ecosystem, including the where, how and what they consume.
Recommendation for marketers and business owners alike to maximise on the most powerful marketing messaging tool, video, they ought to consider the following:
- Be clear on campaign objectives, and prioritise tactics that reach these objectives.
- Manage reach and frequency. Focus budget within channels with the highest audience within your demographic – fish where the fish are.
- Analyse duplication of audience, and the incremental reach of video services, platforms and channels in your video plan.
- Understand how various demographics use different platforms, and adapt activity based on these insights to generate maximum value.
- Have a plan with regard to how your organisation will adapt to the proliferation of ad free channels.
- Scrutinise the cost premium of video providers – if it’s twice the cost, does it drive twice the return?
- Tailor video content to engage specific target audiences, vary content pieces for different customer avatars.
Lastly, apart from choosing the right platform and content for your video marketing, it is important to consider the timing of when you schedule delivery and keep in mind the preferred device your audience is using to watch your video content. For example, 85 per cent of Facebook videos are watched without sound which places extra importance on clear visual communication and subtitles to maximise engagement.
Namely, social videos generate 12 times more shares than text or image posts, branded video views have increased by over 250 per cent from the year before. Video also drives organic engagement, increases conversion by up to 80 per cent (on landing pages) and helps your page to show up in searches, plus viewers retain up to 95 per cent more of your message from video than other forms of content.
By Josh Klein – Founder and CEO, Agency Promotr | InsideSmallBusiness