In today’s marketing world, no content marketing strategy is complete without a video. People have become accustomed to seeing video in almost every corner of their lives. In fact, nearly one third of the time people spend online is watching videos, and YouTube recently reported that users watch about five billion videos on their platform every day.
Cisco estimates that this year (2019), video will account for 80 percent of global internet traffic and over 85 percent in the US. Video has taken over.
Why has it surpassed more static marketing techniques across the internet? It’s hard to pin down one specific reason to explain this video phenomenon. Increase in internet speeds, burgeoning OTT services like Netflix and Hulu, and dissatisfaction with cable providers are good places to start.
We are seeing a massive shift from traditional media channels to digital media. Digital ad spending will surpass traditional media ad spending for the first time later this year. The marketing landscape is ever-changing, but video has emerged as the king of content in today’s digital age.
In 2019, it’s not only important to have a video marketing strategy but also to understand some of the reasoning behind it. Take a look at these four statistics that speak to the larger trends in the industry.
Video Is the Best Post Type for Social Media by 59 Percent
Every social media platform has been gradually shifting its focus toward video content. One of the biggest shifts was when Facebook changed up their algorithm to favor engagement and video.
In 2018, the team at BuzzSumo went through 777 million Page posts to figure out the best way to approach posting on social media sites. What they found was that video was far and away the highest generator of engagement across the site.
Video posts received 59 percent more engagement than other post types and outperformed photos by 73 percent. Overall, a Facebook video will average 135 percent more organic reach than a Facebook photo.
That doesn’t mean every piece of content has to come in video form. Questions and photos still performed well despite lagging far behind video.
Facebook marketing expert Mari Smith suggests dividing up your content types according to BuzzSumo’s findings. Her recommended ratio was 70 percent video posts, 20 percent image posts, and 10 percent link posts. Your goal should be not to post more content but to post content with a higher ROI.
The Ideal Length for a Facebook Video Is Between Three and Five Minutes
Most marketing resources have been pushing two minutes as the ideal length for a social media video, no matter the platform. It’s true that 56 percent of all videos published in the last year were less than two minutes long, but there’s more to the story than that.
Facebook, Instagram, and other social media sites are betting on long-form video content in order to continue building their media empires. With the success of long-form content platforms like Netflix and Hulu, other tech giants have realized the potential goldmine of longer video content.
Facebook created its Facebook Watch platform and now favors longer videos in its news feed. Instagram created IGTV, designed exclusively for longer videos from creators. YouTube has built its dominance on longer vlogs and videos from popular creators.
Optimal video length has increased from the original two-minute gold standard. BuzzSumo found that the optimal video length for a Facebook video was about three to five minutes.
If you go beyond 10 minutes, then engagement stays relatively the same whether it’s 10 or 20 minutes long. That’s because people who watch videos that long are actively engaged with the content.
Long-form content offers more opportunity for relationship and community building. While the ideal video length may be about three to five minutes, video marketers should experiment with longer-form content if they truly want to stand out from the crowd.
85 Percent of Millennials Are Likely to Watch a Company Video When Shopping Online
The much-maligned millennial generation is also the soon-to-be largest generation with the most spending power, according to Pew Research. Allegedly, millennials have been killing industries left and right, but the one industry they have been actively creating is the video marketing industry.
Online video is a huge part of the average millennial’s life. A study by Brightcove found that 85 percent of millennials purchased a product or service after viewing a video about the company. This may be because video is the most memorable and engaging form of content, according to that same Brightcove survey.
The emergence of these trends is partly due to the creation of the “experience economy.” Millennials, in general, want to be sold on experiences and not products. Video provides brands a direct way to engage the millennial consumer and show what kind of experience the consumer could have while using the brand’s product.
Think of it this way. If you want to purchase a new smartphone, which would more easily convince you to purchase it: a photo showing just the phone in all its static glory, or a quick two- or three-minute video that demonstrates how the smartphone works and what it feels like to use one? Ninety-six percent of people say they have watched an explainer video to learn more about a product or service.
Clearly, a video is far superior as a persuasive tool. Since millennials have grown up with the internet, using online video marketing can be an effective way to build a rapport with this generation and future generations as well.
84 Percent of Marketers Say Video Helped Increase Their Site Traffic
What good is a website for your brand if no one ever sees it? One of the best ways to drive internet traffic to your site is to use video on social media platforms. Videos on landing pages can also increase your conversions of people on your site by over 80 percent according to Eyeview Digital.
Video can dramatically increase the SEO of your website itself. A well-optimized video can make you 53 times as likely to on Google’s coveted front page by as much as 53x. Video is also heavily favored by all of the current algorithms used by social media sites like Facebook or Instagram.
Video marketing can be a powerful way to get ahead in today’s marketing world. The digital world is ever-expanding, and there are exciting new ways to reach these new swaths of customers via content like brand films and virtual reality.