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Discover some of the top video marketing trends for 2020 that you need to keep an eye out for to position your digital marketing strategy for success this year.
Even though COVID-19 gives a great challenge into many business owners, it is undeniable that it brings big opportunities also. You can really expect massive results from utilizing digital video productions. Just make sure that you are giving value to your viewers who are staying at home.)
The way people consume and respond to video – especially on social media – has contributed to making video more critical than ever before. This means that it is smart to be updated with all the essential video marketing trends for 2020. Today, more than 83% of marketers allude to the effectiveness of video, and more and more brands are looking for smarter ways to incorporate video into their digital marketing strategies. (66% of business owners are using video in communicating with team members during this worldwide pandemic while 43% of businesses still opted other content kinds to connect to their viewers.
It is predicted that people will continue to spend more time watching videos daily than they ever did, and the direct result will mean more investment in the production of video ads on the internet.
Even though this is excellent news for those that make videos, it also means that competition will increase in this area. Seemingly to the way that the widespread use of email as a marketing channel has made inboxes more crowded and emails more hidden. Likewise, marketers will also struggle to grab the attention of customers in very saturated video industry.
Also, marketers must remain ahead of their rivals to produce the next big video and at the perfect time. Ensuring you adopt the latest technique or concentrating on the right areas can help you make a profit on your video content investment.
Therefore, we have decided to review some of the biggest video marketing trends for 2020, which you can adapt for your digital marketing strategy. Below are some of the widely touted trends that industry experts believe you should keenly consider in 2020.
Personalisation is kind of a big deal today, and as you would imagine, marketers are beginning to pay more attention to it. As it stands, more than 72% of customers believe that they will only respond to marketing content that is tailor-made for them. A further 60% of marketers believe that personalisation is key to a successful video marketing strategy.
Apart from the numbers, personalisation helps you to create a unique and natural bond with your audience by offering them experiences that are built around their needs. Besides, this will help you carve a reputation away from the crowd and give your customers more reasons to buy from you because you address their pain points and show concern by offering a solution.
With personalisation, you can save potential customers a ton of time searching for solutions to their problems and helping them make the right purchase choice by providing them with a highly targeted consumer-based solution. Again, customers will likely remember your brand when they come shopping next time since more than 90% of consumers favour shopping with a brand they know that offers relevant recommendations and offers.
Furthermore, 48% of customers indicate that they prefer a video to mirror the product and service that they are looking to purchase with regards to helping them make better purchase decisions. Interestingly, a good number of consumers said they want videos to be interactive, so they are in full control of the content they see – this could be the next significant shift in video personalisation.
Personalised videos are not exactly a novel idea – just like website personalisation – however, since consumers are starting to hint towards a preference for customisation, there is a good chance that it would come into the fray in 2020.
In the past, several brands have harnessed the power of personalisation to create a successful user-based marketing strategy. For example, in 2014, Cadbury used viewers’ content to generate content that was tailored to them automatically. The result? An impressive conversation rate of 33.6% and a click-through rate of 65%. Despite being an old example, it goes a long way to echo the prowess of video personalisation.
MD and Author of Hurricane, Jon Mowat, believes that a personalised video is a tool that should be used more frequently — citing that they can almost double open email rates and CTRs.
A data-first approach
Overall, we can see that the one-size-fits-all approach to marketing is no longer feasible. Therefore, there will be a rapid demand for a data-first approach that will ensure that you’re optimising your marketing strategies for the right audience, and at the right time to boost engagement and conversion. In 2020, this data-first approach to video marketing will enjoy broad adoption.
Again, this approach offers brands a more profound insight into what’s working and what needs to be changed with regards to their videos, including information like the best platform, their preferred target audience, the type of video content and many others. This data will be instrumental in deciding returns and how to increase revenue using video marketing.
Several brands are now taking advantage of the enormous potential that lies in valuable data to increase their video reach and engagement. PepsiCo is one notable example. The company was looking to usurp Quaker – another rival brand in the UK – and used data to inform its video content, this resulted in a direct sales increase of 4.25% – more than double the result from the normal approach.
Analysing data can provide valuable insights into what aspect of your video production can be improved upon to boost its effectiveness and engagement. This approach isn’t meant to limit the creative nature of your marketing strategy, but rather, it’s supposed to help concentrate resources on the things that matter most such as personalisation and audience segmentation.
Just like PepsiCo UK, more brands will soon see the need to begin to make more personalised video content rather than the conventional ‘one size fits all’ approach, hints James Bryant, Video Strategy Director at Skeleton Production. He further adds that there are several targeting tools on Facebook, Google and Twitter that brands can use to create tailor-made content for their users.
Recently, it has been hammered repeatedly that the human attention span is shortening fast, and that goldfishes may even be outdoing us – although this study from a few years ago seems to have squashed those claims. Consequently, several marketers have focused on making better engaging short-form videos to get the most out of our ‘short’ attention span. But in 2020, this trend will see a reverse in fortune.
Interestingly, shorter videos are more comfortable to consume, especially on social media. However, it denies several brands the opportunity to connect emotionally and form a special bond with its consumers.
Around 80% of the video made in 2017 was shorter than five minutes. However, these short-form videos only contributed to a third of the total engagement in video content. Conversely, more than 50% of the entire audience engagement was down to videos that were not less than fifteen minutes in length.
These glaring stats coupled with the fact that the average user will likely spend 88% more time on a website with video content, further highlights the importance of long-form videos in forming an emotional brand connection with consumers. Besides, long-form videos allow you to actually tell a memorable story about your brand and educate your audience further on the need to choose your products and services.
Long-form video still very much have a place in video marketing, even though shorter videos are much easier to digest and watch, suggests Daniel Sarath, Senior Digital PR Executive at Click Consult. He further adds that, in 2020, marketers are going to be looking to tap into their creative depths to produce longer videos that can connect with their consumers, because a good and emotional story always sells itself and the brand.
(COVID-19 pandemic results in more people staying at home. Mostly, are using videos in disseminating tasks, selling and buying products and even promoting their brands. Watching videos is more effective than just reading as it appears to be live and viewers don’t need to exert so much effort in reading. Videos also entertain and prevent boring moments. That is why businesses are taking advantage of video marketing methods to increase sales. )
Thanks to the development of VR headsets such as the Oculus Rift, and other smart devices, 360-degree videos are becoming increasingly common. Therefore, more people – Magnifyre actually put this figure at 29% – are open to the idea of viewing a video in a 360-degree option than the conventional method.
This style of video has also resulted in a 7% increase in purchase intent while at the same time, also helping brands set themselves apart from their rivals. As a result, there is a 12% increase in the notion that the brand has something unique to tell its audience. This point to the fact that 360-degree videos can help boost ROI than conventional video forms while simultaneously increasing brand engagement and awareness.
Kit Kat is one brand that can attest to the effectiveness of a 360-degree video, as they used it to formally launch matcha – a new chocolate bar. As a result, they more than doubled their completion rate using the YouTube campaign compared to the average rate on the platform. Also, it managed to garner an amazing 35% increase in consideration and a 100% increase in ad recall.
Tellingly, 360-degree videos are going to pick up steam in the year 2020. All signs point to the direction that even more brands will be receptive to the idea of using it to communicate their story better and improve consumer engagement.
Sophie Campbell, Digital Marketing Executive at Click Consult, reckons that 360-degree filming can offer a more immersive filming experience. Similar to how AR and VR have revolutionised the gaming industry. She also adds that Virtual Reality is an excellent way for customers to go on a unique shopping journey that will typically not be accessible to them.
Integration across the marketing funnel
Considering the immense power of video content in terms of engaging your audience and influencing certain habits, it beggar belief that some marketers still think it’s a luxury rather than a core need. This also indicates why most strategies aren’t harnessing the full potential of video content. However, more brands will likely seek to start integrating videos on all their marketing funnels.
As videos are an incredibly engaging form of content, integrating them across several areas of your marketing channels and funnels can help improve the consumer experience.
From videos that describe the merit of the service or product, to videos that explain the values of the brand, people are increasingly opting to watch videos where available. Besides, over 72% of people prefer to watch a video over reading a text to learn more about a company.
Videos are quintessential to your brand, especially if you are still trying to create a buzz around it. 53% of consumers were more likely to interact with a brand after watching a video of it on social media. Again, videos are also useful for boosting email engagement with an increase in click-through rate by up to 300%.
One of the most effective ways of interacting with consumers, offering support and turning leads into customers is the use of highly engaging videos. So, it should come as no surprise to see them present in every brand’s marketing funnel.
Video is one of the best ways for brands to communicate behavioural changes in consumers. So it is not unusual that marketers are paying for the attention to it in 2020. Jon Mowat – Author and MD of Hurricane allude that the real problem for marketers is finding a solution to effectively integrating video into various parts of their funnel, so it’s steadily working simultaneously with your other marketing strategies.
Videos present a more natural and better way for customers to access and digest information across several platforms and channels. From a B2B and B2C perspective, they are great for sending information, creating a unique emotional bond and answering questions, making them a core part of your digital marketing strategy.
Be that as it may, creating a short video on social media will no longer do the trick, as you now need to ensure that you are adopting videos across your whole marketing funnel. In addition to making use of the best talents and technology to stay in touch with your rivals.
It’s also worth highlighting that in the past, companies have struggled to keep up with the cost of creating video content, but today, they have become so ubiquitous that many brands can now easily access and create them. As a result, failure to include video into your marketing strategies can be the critical difference between going ahead or falling behind your competitors.
(During this COVID-19 crisis, you can learn many things from your competitors. You can monitor your competitions’ media presence through the use of social media analytics and tools. This will assist you in improving your own presentation and make sure you are staying ahead of them.)