How time flies? We are already in the final quarter of 2018 as 10 months have passed. If you have not started planning your digital marketing for 2019, it’s time you should. Here’s the reasons why. As technology in digital marketing has not shown any sign of slowing down, there are already a few new trends that particularly outshined others which include voice search, A.I powered solutions, chatbots, machine learning to marketing automation. Although still in infancy, each is showing life in traction as we continue to witness their growth. Customers are demanding brands to be immersive and be wherever they are. The salient point—you can too, with video marketing.
As for video marketing trends
for 2019, they continue to take shapes and forms that the industry may or may not have realized, and this article intends to uncover some of those new directions within the video. Although despite video being an essential form of engagement for business, smaller companies (SME) were still reluctant to pursue video as part of their overall marketing strategy compared with medium to the larger enterprise. Many are still sitting on the fence, only creating video as ad hoc solutions, tactically rather than strategically. Having said that, success with video marketing in 2018 hit a new high – with more companies (including small to midsize) realizing the power of video for marketing.
Direction #1 – Create-at-Scale
Producing exciting video content is a given in this highly competitive and attention deprived business environment while the audience are constantly seeking relevant videos to consume. Having just another video isn’t sufficient if you want to grow a brand and continuously engaging with your audience. Now brands must produce video content at scale to entice their audience and to monetize any opportunities. This means that the company needs to strategize and build long-term video content instead of ad hoc videos. Tasty Videos
is a great example of doing it right and at scale. Tasty, is well renowned for its eye-catching and mouth-watering treats that are posted on Instagram, featuring bright colors, along with the recipes that are demonstrated in less than a minute. BuzzFeed, the sole creator of Tasty has accumulated 5,595,916 likes and more importantly, over 10.2 million subscribers. Their Create-at-Scale strategy consists of four segments divided by recipes; Tasty Junior is for children, Tasty Happy Hour for adults, Tasty Story, and Mom vs. Chef. The last count on Google netted a 65 Million videos search result and its YouTube channel created a whopping 2,340 videos share on its social media platforms in just a few short years.
Direction #2 – Be Authentic
Social media is about sharing moments and discoveries with your friends and family and most of those moments are unique and real. Here, authenticity takes on a different level in how videos should be made as opposed to polished production. This applies particularly with the social media platforms where raw and even unplanned videos triumph over much fancy production. By being authentic, your followers would get to understand and learn more about who you are as a brand. Creating video content that is able to capture those real moments about yourself is priceless in the eyes of your followers because those were the reasons they started following you in the first place. Singapore Ah Lian (a stereotyped reference to female Chinese who speaks bad English, loud and with a bad sense of fashion), Lerine Yeo or better know as the S-Hook lady became the latest Singapore YouTube sensation
with her typical Singlish (Singaporean broken English) pushing what else but the unpretentious S-Hook, a multi-purpose hook shaped like an ’S’. Being authentic and real is even more crucial for brands while the lack of it could damage the company’s reputation or the least could cause millions in losses. Company needs to dig into its core and identify what’s being said and shared on the digital media and social platform resonates truthfully with its mission and brand’s DNA. What it stands for and how it conducts its business mustn’t be swayed by the current trends that don’t fit into its own identity. Pepsi and AirAsia made this point succinctly clear in this article
. These brands are still reeling in dealing with the ‘faux pas’ of being inauthentic.
Direction #3 – Go Live. Go Personal.
Live video and live streaming on social media platforms like YouTube, Facebook, Instagram made great leaps from 2016 to 2018. In 2016 alone more than 80% of internet users watched more live video than the year before. As reported in eMarketer
, according to a May 2018 survey by the Interactive Advertising Bureau (IAB), 47% of live streaming video viewers worldwide are streaming more live video compared with a year ago. And nearly as many (44%) said they watch less live TV as a result of live streaming.” If you are going Live now, you are probably late in the game but so are many of your competitors. The ones that constantly create noise and engagement with Live video are getting more love for their brand as it inspires increase activity engaging more via texting, social media comments and even email their friends about it. Live video is often perceived as being personal, building direct communication with its viewers and fans. Research indicates Live encourages more authentic engagement with audience and viewer’s retention which precede prerecorded video.
Direction #4 – Keep Growing with Video Ads
Studies showed video ads are on the rise, accounts for 65% of all ad impressions on Instagram and expected to grow even further. According to *Interactive Advertising Bureau, an organization that develops industry standards conducts research, and provides legal support for the online advertising industry; advertisers will spend more than $10 million on average on their brand to create digital/mobile video ads in 2018. This is a sharp increase of 54% YOY for 3 years. Two-thirds of advertisers planned to allocate more funds away from TV budget to digital video advertising. With so much momentum going with video ads, it is unsurprising that only 15% video content was created originally for TV and repurposed for video as compared with 31% creative developed which is intended to be used for cross-screen purposes. This means video ads are created right from the drawing board as original content for all screens. Social media channel takes leads 23% in terms of video ad buy budget ahead of TV shows online 19%, with original digital video sites at 15%. User-generated content was only taking 13% despite all the hype of social media content created by users instead of planned production.
* Chart by IAB Video Ad Spend Study, April 2018
All things being said, Gen Z is, and will be the video’s main consumer. They are the first generation born with video as their primary means of communication and they will continue to be video’s major proponent. We do not foresee this generation letting go video consumption habit anytime soon the way boomers and Gen Y held on to the television. As the year 2018 is already into the final quarter, digital video is expected to grow from $91 billion in 2018 to $103 billion in 2023, almost entirely from online video. In the next five years, we will see significant growth as free streaming dominating many online social media and video platforms. Another exciting growth approach to video includes original digital video programming (ODV) which see advertisers increase spending with nearly 60% of digital marketing budgets going into digital video, mobile video, programmatic and advanced TV. ODV, defined as ad-supported, professionally produced for digital original video content is skewed towards young and diverse audience, are already gaining strong adoption universally such as through Netflix and Amazon Prime. That’s why the money is on digital video, social media and web video ads moving forward instead of television ads. The question is, are you ready for 2019?