As online video viewership levels are higher than ever before, a majority of businesses are turning to video marketing to build brand loyalty, connections with consumers, and ultimately draw them in for purchasing goods and service. This ultimately means that failing to utilize videos could leave you far behind your competitors.
However, it is no longer enough to simply create a short video for social media, you need to ensure you’re using videos across your marketing funnel, as well as making use of the latest video formats and techniques in order to remain competitive.
It’s worth noting that while previously companies have struggled with the cost of creating videos, but now that they are becoming such a popular content type that they are more accessible for brands than ever before.
Below we review 4 key trends for 2020, to ensure that your video marketing strategy for the next year is as up-to-date and effective as possible.
Integration Across the Marketing Funnel
Considering the fact that custom video is a powerful content type when it comes to encouraging certain behaviors in your audience, it’s surprising that many marketers are still viewing it as a “nice-to-have” tool rather than a necessity. This means that many strategies are failing to make videos work as hard as they could be. This is why in 2020 brands are more likely to start integrating video across their entire marketing funnels.
As videos are such a hardworking form of content, using them at different stages of your marketing funnel and across different channels can help make the customer journey smoother and shorter.
From videos that explain brand values to those that provide more details on products or services, people prefer to watch videos where possible, with 72% of people preferring to learn about a company via video rather than text.
Personalization is a huge buzzword right now and is something that marketers not only need to take seriously but also need to get right. Not only do 72% of consumers say they will now only engage with marketing messages that are personalized, 60% of marketers consider personalization to be a key strategy for improving the quality of their leads.
Beyond these statistics, personalization across marketing allows you to build a relationship with your audience by providing them with experiences that are tailored to them. This helps you to stand out from the crowd, giving consumers a reason to purchase and addressing their requirements and pain points.
Through personalization, you’re able to provide highly targeted solutions to consumers’ needs, effectively saving them time when it comes to searching for those solutions and making a purchase decision. You’ll also become a lot more memorable, which is important as more than 90% of consumers are more likely to shop brands who they recognize and who provide relevant offers and recommendations.
Ditch the “One-Size” Fits All Approach
As we’re seeing across marketing as a whole, the one-size-fits-all approach is no longer delivering. For this, (among many others) smart marketers are taking a data-first approach can ensure you’re targeting the right audience with the right messaging at the right time in order to increase engagement and conversion. This is why this approach is going to be applied more to video marketing in 2020.
A number of big brands are now using data to drive video creative and it is paying dividends. PepsiCo is one example of data-driven video marketing delivering results. The company wanted to re-stage the brand Quaker in the UK and used data to inform its video content, resulting in a sales lift of 4.25%. This was 2x the uplift seen with their generic approach.
This approach gives brands a better understanding of what works when it comes to their videos, including the best platform, who they need to target and the content of their videos – among other factors. This information can be hugely beneficial when it comes to returns, improving your video marketing ROI.
Long Form Video
Yes! Believe it or not, long form video will make a come back on 2020. We’ve all heard repeatedly that the human attention span is shrinking and is now shorter than that of a goldfish – even though a study disproved this fact a few years ago. This has resulted in many marketers falling back on short-form videos in a bid to inspire greater engagement, but this looks set to change in 2020.
While there’s no denying that shorter videos are easy to consume, especially on the go and via social media, they fail to allow brands to form the emotional connection that makes them memorable to consumers.
In 2017, around 80% of videos were under five minutes in length, however, these short videos tended to drive less than a third of overall engagement in video content. In comparison, videos that were 15 minutes or longer resulted in 50% of audience engagement.
Statistics show that long-form videos can help keep people interested in your message and your brand. Long-form videos enable you to tell a story that can make you memorable, as well as help educate your audience – whether about your products or your brand values.
It’s estimated that more than 83% of marketers believe that video is becoming increasingly important, which signals the start of more brands using them as part of their digital marketing strategies.
Social media, the rise of “Stories” and the way in which people consume media have all contributed to making video more important than ever before, meaning it pays to be aware of the video marketing trends for 2020
It is estimated that people will spend more daily minutes watching video over the next few years than ever before, resulting in more advertisers investing in online video ads in order to drive engagement.
If you want to ensure your video marketing is tops for 2020, then Contact Original Video Productions for a FREE no-obligation video “Discovery Session” with our team of video production and marketing experts.