01 Apr Why Video Content Marketing is a hit with consumer brands?
The consumer brands vertical is betting big on video content marketing. Three of the biggest consumer brands in the world are leading the direction and news is that their video content marketing investments are gaining traction in the market. Let’s figure this out. Whether you are looking for a show on professional soccer, politics or the latest in fashion trends from New York’s greatest design labels, one platform has it all- Netflix.
Is there any data to back the claims that consumer brands are tilting heavily towards video content format in? Is video content marketing a new buzz word or is it the next big thing in the content marketing and advertising functions of business? What are the drivers of live video content marketing? How do consumer brands stand to gain from spending hefty amounts on video marketing? Pellucid Solution, the leading digital consulting company answers these questions and more here.
Data on Video Content Marketing Trends
In God We Trust. Everybody Else Must Bring Data to the Table. Marketing and advertising budget making in corporations across the world have evolved from a state of being outlay based to one of being outcome based. The return on investment is a key metric. User engagement is the second metric to look forward to. Third, surveys and feedback from respondents in the marketing industry are also important pointers in the direction. Here are the answers to the question that we have raised.
First, going by the news of Apple’s commitment of $1 billion dollars, let’s see what it means. HBO spends $60 million dollars per season of the Game of Thrones. Given that Apple commands a fair brand value for its streaming platform; speculation is rife that the return on investment must be shooting through the roof to make sense of the enormity of its numbers.
Second, analysts at the Search Engine Journal after integrating their Facebook live strategy have published data on average Facebook Live post engagement to be 178% higher than all their other Facebook posts.
Third, Hubspot reports that video content marketing is growing in popularity among marketers. They report that 48% respondents in their survey have planned to add YouTube to their marketing arsenal and another 46% have planned to add Facebook Live.
Economic Drivers of Live Video Content Marketing of Consumer Durables
The economics of content marketing and advertising functions are reshaping the competitive landscape for consumer durable brands. While the story is an evolution and not an overnight cold turkey, there are numbers that prove that the change is actually happening at the ground zero level:
First, no less than 13% of the video content on digital media comes from love video streaming. Consumers love to watch the good old “physical evidence” of the 7P’s of marketing unfold on their devices and be a part of the journey. Live videos amplify the customer journey like nothing else.
Second, live videos are economical and do not require any up front commitment of outlay and resources for production as opposed to short advertisement films screened on television.
Third, live videos enable user participation unlike passive viewing only that is permitted on television and recorded videos. The authenticity and refreshing honesty of being a part of a revolution, a product launch or a trade show removes the feeling of being deprived of physical presence and obliterates the importance of physical spaces even further.
How Do Consumer Brands Stand to Gain from Investing in Video Content Marketing?
On a global scale, 2019 promises to bring big opportunities to consumer durables brand in a big way.
First, a greater number of people are moving towards smart phones from personal computers to access emails, websites and mobile apps to do more on the go. Portability adds wheels to video content marketing. Consumer durable brands can advertise anything, anytime, anywhere and at any place on smart phones that they earlier could not on television.
Second, smart phone screens are smaller than those of personal computers and television set. Users find it much easier to watch videos than read a textual document like a blog, web content, news or a social media post. Given that the key to advertising in the consumer durables vertical is user experience, the proposition hold promise and offers tremendous potential to be explored.
Third, major social media and instant messaging platforms are incorporating a live video feed feature. Facebook Live, Twitter Live Stream, Netflix, Snapchat, Instagram and Whatsapp have video streaming features that allow video content to be shared among communities. The fact that the total hours of YouTube viewing per day is no less than one billion hours says much on the tectonic shift towards video content distribution. Consumer durable brands can reimagine customer journeys with pop up advertisement banners, pay per click advertising services and paid social media marketing campaigns to measure and monetize return on investment while reaching out to consumers on their personal devices.
The writing on the wall for digital marketing companies is crystal clear. Video content is here with a bid to stay for big time. New frontiers of video content though in the nascent stages in the year, shall begin to disrupt the marketing landscape. Virtual reality video content for example offers a great opportunity for consumer durables brands to associate with extreme adventure sports and lifestyle events to redefine consumer connect. Ecommerce brands can also leverage VR video content to showcase a wide variety of products to augment user experience. 360 degree video content is yet another immersive technology that consumer durable brands can leverage to showcase their products and brand associations at events of sports and entertainment. With so much on the platter, leading digital marketing companies can reinvent customer journeys and customer experience with cutting edge video content marketing.