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Video Works. Period: Brands up investment in video, recognising its growing value
6th December 2016
The power of video as a fundamental part of a brand’s content strategy is becoming increasingly recognised. Google owns YouTube, therefore from an SEO perspective video works well for brands eager to quickly capture the attention of the smart-phone wielding public. And with the video capabilities of sites like Instagram developing, and YouTube viewing figures increasing 40% y/y since March 2014, now more than ever before brands are upping their investment in video.
A recent Cisco study predicts that by 2017, video will account for 69% of all Internet traffic. Brands are realising the vast potential reach of video as viewing figures rise to mind-boggling levels.
Ascend 2’s Video Marketing Strategy Survey, from September 2015, summarises the current state of video’s position in a brand’s content strategy. The report says that 71% of companies with successful video marketing strategies are planning to increase their budget in the coming year. The survey also exposes the overwhelming majority of companies (91%) claiming that video marketing effectiveness is increasing. This could be attributed to marketers realising the huge potential video has to directly generate leads and sales, as opposed to simply being entertainment fodder. YouTube’s shoppable content modifications (link to previous post on this if poss) have also revolutionised the sales opportunities directly associated with video. Brands are realising the potential for ROI and acting accordingly.
A rewarding strategy for brands, however, is often lacking when ascertaining the most effective video content to produce. The survey determines that the most effective video content comes in the form of customer testimonials, yet also states that this is the most difficult content to produce. Yet as most brands (93% of those questioned) outsource their content production, they are able to take advantage of a team of creative minds developing content for them. A further benefit of this is the analysis of performance data and the tracking of video interactions by technical experts. This can lead to the optimisation or segmentation of content to enhance the video’s performance, turning data into results.
Many small businesses believe video production is beyond their reach. Yet with consumers positively responding to brands using video content, and reacting with their wallets, neglecting to include video in your content strategy could end up being fatal.
