In the past few years, we have seen a marked increase in the number of companies adopting video as one of their preferred marketing channels to drive qualified traffic, increase awareness, and engage potential and current customers. Video marketing evolves year after year, and these are our top five predictions for video marketing in 2018.
1. Video production will continue to grow as a share of marketing budgets
In the past few years, video marketing has performed very well and the costs associated with video distribution have dropped. This has made it easier for companies to adopt video marketing as one of their standard marketing channels. This year, it’s estimated that 81% of businesses will use video as a marketing tool, up from 63% in 2017.
Ever since Google purchased YouTube in 2006, the former has been pushing the adoption of video as a central way of distributing content online. Following Google, Facebook has also made video one of the central pillars of their platform. Both platforms have made it relatively inexpensive and easy to publish videos, which has helped companies promote their businesses to hyper-targeted audiences and grow their online presence.
2. Closed captions will become more standard in online video
While closed captions have historically played a small role in the way videos are consumed online, the situation is starting to change. While 96% of YouTube users still watch videos with the sound on, 85% of the 8 billion Facebook users now consume video content without any sound. This means around 6.8 billion Facebook users watch videos with the closed captions.
The benefits of watching videos with closed caption have been recorded by the British Office of Communications, which in 2006 conducted a study in which they analyzed the impact of the introduction of closed captions on the TV-watching public. Surprisingly, the study found that 80% of the people who used closed captions weren’t deaf or hard of hearing. Those populations included:
- Non-native English speakers who needed help comprehending what was being spoken on screen
- Viewers who needed help maintaining concentration
- Viewers who wanted to watch TV in a sound-sensitive environment
The study also found that the viewers who used closed captions experienced higher engagement and reported a better experience.
In terms of SEE, adding a video’s transcription to a website also helps attract more organic traffic. Google analyzes the transcriptions, which improves the chances that a webpage will rank higher in search engine results.
Due to the aforementioned benefits that closed captions bring to video consumption, we expect to see a continued increase in their adoption and usage.
3. Live video production will play a complementary role in marketing strategies
With the increasing popularity of live video streaming, like Instagram Stories and Facebook Live, it has become more important than ever to create a video type that breaks with the classic mold of the perfectly edited video. Live video keeps people engaged three times longer than traditional videos, and those viewers leave 10x more comments during the video stream.
Since creating a live video has become more accessible than ever, forward-thinking companies have been using it as a way to reach new audiences more authentically and improve engagement with them. While the implementation of live video is on the rise, it is unlikely that live video will replace traditional video as much as complement it.
4. 360-degree video production will play a greater part in video marketing strategies
While the previous three trends are relatively well-known, 360-degree videos represent a radically new way of developing and consuming video content. More companies are starting to adopt 360-degree videos in their video marketing strategies because when implemented correctly, they drive more engagement than traditional video production.
In July 2016, Google developed a test for Columbia Sportswear, in which they compared the performance of a 60-second spot recorded in 360-degrees vs. the same video filmed with a traditional camera. The results showed that the 360-degree video achieved a higher view-through rate — which is defined as the number of videos watched divided by the number of impressions — and motivated viewers to watch the full-length version of the video as well as share, subscribe, and view other videos from the brand.
360-degree videos will likely play a similar role as live video–that is, as a complement to traditional video. Start slowly and strategically with this new video type, testing new ways of sharing your stories with your audience, and refine your strategy based on their reactions.
5. Quality in video production matters now more than ever
Now that video marketing has proven its worth and is a standard part of most marketing strategies, many companies will jump onto the video production bandwagon without a clear idea of how to execute it and how much to spend.
The smart money will invest in high-quality, professionally produced video content, while others will try to get by with poor-quality, overtly salesy videos. The difference between high- and low-quality video is becoming ever more apparent to consumers, whose buying decisions are influenced by the quality and impact of the videos they watch when shopping online.
Before recording anything, remember this: what matters isn’t the fact that you have a video–it’s the quality, the storyline, and the distribution that will set a video production company apart.
Great video production agencies make sure they have a crystal clear idea of what their clients need to communicate, how they need to communicate it, and to whom it needs to be communicated. They help their clients find and distill the right messages and tell the right stories in emotional and visually compelling ways.
While technical aspects of video production like the quality of the lighting, the camera, and audio recording equipment used will help present a polished image, if the story isn’t well-crafted, it won’t move viewers to care about a brand. Find the right story to tell, the right team to tell it, and the video will do the rest.
In 2018, video marketing will play an increasingly important role in companies’ overall marketing strategies. With the five trends you read about today, you will have a much better idea of how to face the new challenges and opportunities that lie ahead.