Quick Takes on Video Advertising Trends
1. Video content is still king. There's no end in sight to video's reign since people remain visually stimulated and prefer to consume more and more messages in this format.
2. People are watching a lot of TV (see number 1), therefore advertising on TV is still a solid choice for marketers. However, TV advertising continues to evolve, so this is where marketers have to remain on their A-game to keep up with trends and changing consumer behavior (aka streaming, OTT, social media, news site streams, etc.).
Social Media is the Land of Videos
Social media continues to function as a preferred platform destination where video content is viewed. In fact, with nearly 83% of Internet users making up the consumer base of video viewing, eMarketer reports that half of those users are watching videos on social media. Now, throw in advertising and OTT growth with the videos being consumed, it's no wonder video and TV advertising are exceeding market projections.
Live Video Content Takes the Lead
An area that marketers especially want to keep in mind when identifying engaging video content is that live video is growing faster than non-live video content. That tells marketers that consumers prefer content that's real-time, off-the-cuff, and raw, rather than super-detailed, high-production content.
Minimalism is still trending, and it goes to show that you don't have to spend a fortune to create content that speaks to your audience. At the end of the day, a content strategy that really targets your different audiences and user groups won't have a cookie cutter feel. Video lengths are also no longer limited. It's all about the content and how engaging it is to your audience. So, know your audience above all.
New Markets to Target
New streaming services continue to be introduced to content consumers, including Freedive by Amazon and a D2C service from NBCUniversal. Companies continue to shift and adapt and adjust to where the consumers want to be, and again, they are on social media watching video, including videos that contain some form of TV advertising. If American consumers weren't consuming TV advertising that disrupts their chosen content on their preferred platforms, we wouldn't see such an uptick in the investment of content production. How confident are the big players in video content? Well, Netflix is confident enough to invest an upward of $15 billion in content this year while projecting an increase of $2 billion over that amount in 2020.
So, what's the next big thing on the horizon with video based on current marketing data? Content. Good content that is written well for its intended audience. Good content that is written well and nails its audience keeps consumers coming back for more. The bar keeps getting lifted, so if marketers will simply focus on quality of content and ensuring the content is unique and constantly evolving, repeat business will occur. If you build it, they will come, but it doesn't have to be fancy. Consumers are okay with simply produced pieces. They desire authenticity, legitimate content that shows a company has done its homework. When data reports viewership is decreasing, you must go back and look at your audience and if the content has drifted away from the needed focus. Social media will be ever vital with its geo-targeting capabilities and ease of use. Staying on top of marketing trends is a challenge, but one you must be up for to remain competitive and relevant.