As the paradigm shift from traditional marketing to digital media endures, its time to take another look at emerging trends in the consumption and production of video content.
A detailed report compiled by IAB recognises that brands are being challenged to change their marketing mindset. The reports concludes that the “direct brand economy,” driven by data, digital media and user-experience, has to be given priority moving forward.
The report hones in on the growing numbers of internet users watching original digital video (ODV). In the last five years, the online video audience has seen a continuously rising trend from 45m to 72m – a 60% upturn.
All 12 brands involved in the study confirmed that ODV generated the highest conversion rates. Furthermore, it was identified that 45% of viewers actively seek video content. These are consumers that are curious to find and engage with new brands.
A report published by Ooyala found similar trends. The analytics company identified digital media is “all about data now” and data-driven video is the focal point of almost every conversation in the media.
The report points out that internet users, especially mobile owners, expect videos from brands. Consumers simply engage with video more than any other media. In the US, 85% of adults watch video on a mobile device to get their news.
The latest Pew Research Center survey reveals that digital video content on mobile and social media are driving consumer trends. Internet users may have conflicting views about social media, but there is no argument that social platforms are the primary source for finding information. And video content is the first-choice.
New digital media platforms
Companies should be looking to evolve digital strategies with consumer habits. With more internet users actively looking for video content, we expect to see more businesses focusing on premium content and hybrid strategies.
So what are the latest developments in digital media that could impact your video marketing strategy in 2018 and 2019.
It is known Facebook is working on a brand creator tool but until recently, what that entails is a mystery. However, according to Techcrunch, “leaked” screenshots suggests the platforms next money-spinner will be a tool that puts brands in touch with relevant social influencers.
Watch this space!
The augmented reality ads Snapchat launched at the rear end of last year are gaining traction according to a report in Digiday. BMW produce a 3D version of a car which allows viewers watching the digital video to walk round the vehicle as though they are in a physical showroom.
Video media is presenting all industries with exciting possibilities right now. Whilst the new technology presents a challenge for marketers, professionals are already finding ways to produce creative video content.
If you want to know how to engage consumers, LG are the brand to watch. The viral video chart shows the American tech giant is dominating online video right now, occupying the top three spots.
The growing trends in digital media all point to video content. In all honesty, it is not a revelation that online consumers prefer digital video over other forms of content. The challenge for marketers is how to create video ads that convert consumers.