As I write this, I am sitting on a NYC rooftop bar poring through video marketing research after spending my morning judging the Digiday Video Awards, which recognize excellence and breakthrough achievement in video advertising and marketing. So today, the above statement couldn’t be more relevant.
I can’t share the super secret winners yet, but I can share that the categories are more numerous and campaigns more complex than ever before. Video use and consumption have sky-rocketed and will only continue.
This means opportunities for brands.
You don’t have to look far for stats that paint this picture:
- By 2017 video will make up over 70% of Internet traffic.
- 85% of brands will increase video spend this year.
- After viewing a video, 75 percent of users check out a marketer’s website.
- YouTube is the second largest search engine in the world.
- We watch 6 billion hours of videos on it every month.
- 26% of Internet users hunt for more information after watching a video ad.
- Videos increased consumers’ understanding of a company’s product or service 74%.
- Click-through rates increase two to three times with marketing emails that include video.
- Incorporating the word “video” in an email’s subject line increases open rates 19% and click-through rates 65%.
(Sources: Comscore, Forrester, EMarketer)
The real question is: why wouldn’t you use video?
Some might think it costs too much, or perhaps they don’t know where to start. Maybe they are discouraged by previous efforts that were underwhelming, after all there is a lot of really bad video out there. Video that doesn’t justify its cost and doesn’t perform in the way that people imagined could mean there was no strategy on the front end. High hopes were pinned on the medium rather than the story.
Kevin Spacey (yes, you read that right) told the attendees at this year’s Content Marketing World: “The audience has spoken. They want stories. They’re dying for stories.” We already know your customers are watching video. Give them what they want. Every great brand video starts with a story. Strategy and audience insight lead to stories that resonate, get shared and produce action.
Your customers don’t care what category the ad industry labels your video: banner ad, commercial, Vine, webisode or any other name. They don’t care if they see your logo in the first seven seconds and they sure don’t want to be marketed to. In exchange for their precious time, they want one or all of the “The Three Es.” Entertainment, Education, Emotion. Entertain them, inform them, make them feel something.
And it doesn’t matter if your brand is B2C or B2B, it’s still the power of the story that delivers. Storytelling is relevant for everyone — and video is the most compelling and emotional storytelling opportunity for brands in a digital and mobile world.
What is your story? How should it be told in video? How much will it cost? Where in the sales funnel? I’ll share those secrets* in a future post — the sun is setting!
*There are no secrets, but I’ll share our opinion.
Andrea Nordgren is Core’s Director of Visual Content Strategy. Follow Andrea on Twitter @andreanordgren.
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