The Triangle of Power Series: Chapter Three: The Price of Hesitation
In the fourth chapter of the Triangle of Power series, CMTV reviews why video is a viable investment and how to create winning content. 64% of brands believe video directly increases sales and 75% report positive impacts on marketing results. Statistics have shown 45% of people stop watching a video after 60 seconds and 60% drop off after two minutes You’re 64% more likely to get a click back to your website through a presenter-led video over animation and a third of the most popular type of video content internationally – is news.
The Web Video Marketing Council says online video will become a crucial part of sales. A substantial 64% of brands believe adding video to weFor those still sitting on the fence about whether or not to incorporate video content in their marketing, rest assured – there is safety in numbers. Global internet traffic has been steadily increasing by 22% for the past 12 years. YouTube reports mobile video consumption rises 100% annually and one study found 96% B2B organisations now engage in video content marketing.
YouTube is the Google of the video world. Companies with their videos on YouTube can suck viewers into their rabbit hole and allow them to binge-watch miniature episodes. The average number of video views a day is 1,000,000,000 with 3.25 billion videos viewed monthly. Due to the heady heights of these numbers, it is predicted 2017 will be the year companies will feature more targeted videos than ever before.
bsites directly increases sales and 75% report positive impacts on marketing results.
The unrivalled power of video marketing is leading to the revamping of business infrastructure. Every company will soon need a Director or VP of Video Strategy with sales teams craving video resources and begging marketers to create more video assets to share. Production managers, videographers and presenters will be worth their weight in gold, as teaser videos will eventually replace email announcements. Shiny, snappy 60-second clips will fizz all over social media channels and bounce into customer inboxes, shouting about the latest product launch or Women in Technology initiative.
For today’s kids, video editing will become an essential 21st Century skill. The internet is rapidly renewing the basic tools marketers need to include video in campaigns, as 64% of marketers expect video to dominate future strategies. Over the coming years, companies will learn how to deliver contextually relevant video content at the perfect moment.
Social media platforms are primed for an influx of video content; currently the millennials and Generation Z largely dominate the success or failure of branded material. Take the social media-marketing agency – Social Chain, set up by 23-year-old university-dropout Steve Bartlett. This is Europe’s largest internet-breaking influencer marketing agency, with the employee average age 22 years old. Teenagers and adolescents are fluent in emoji and naturally attuned to what is going to tick and trend. The Social Chain are masters in ‘influencer marketing’ – advertising via directing traffic through social media; reaching millions of people within hours. Every single successful campaign of theirs has been anchored on social media. These platforms are breeding grounds for viral videos and should be the starting point for brands vying to get their name out there.
Despite the magnetism of video content, it is not enough to just throw a smattering of any old clips across your website and expect fireworks. There are certain idiosyncrasies of the most successful video clips only the more intelligent brands will detect. YouTube analytics prove 45% of viewers will stop watching a video after one minute and 60% will drop off after two minutes.
This means content needs to be bitesize, easily digestible and inside of 60 seconds if companies want a 100% retention rate. There is a finite window of opportunity to make an impact; 20% of views will click away within the first 10 seconds if they have not been enraptured and 80% will exit the video within the first half. Videos not only need to be heavily weighted with impact but they also need to load quickly – as 4 out of 5 users will give up at the first sign of ‘loading’ or ‘buffering’.
The style of a video can greatly influence the success of a clip. Many companies erroneously subscribe to the theory they can churn out low-cost animation-led content and pretend they are keeping up with the video revolution. However, you are 64% more likely to receive a click-back to your website from a presenter-led video over a purely animation based clip. Research has shown human interaction increases conversion, whereas animations have found to be distracting.
There are considerable statistics out there to capture the imagination of marketers looking to make a killing. Forbes has found 59% of executives would rather watch a video than read text and Forrester Research claims it is 50 times easier to achieve a page 1 ranking on Google with a video. An impressive 1.17 billion people use Google – that is over a seventh of the world’s entire population and Google loves video content. This is because it increases a page ‘stickiness’, which is the amount of time a person spends on a page, which bulks up the future page search-engine ranking.
Although Google is the biggest search engine in the world, it parents YouTube – the second largest in the world, so it is all win-win for Google. Video transcripts are littered with key words, hiking up the SEO ranking and allowing Google to index the dialogue. Video is the happy ending for both businesses and search engines alike.
A third of all online activity internationally is spent watching video and a whopping 33% is spent watching news (alongside Music and Comedy). Unless the CEO wants to try their hand at stand-up, or Human Resources learn to lip sync to Drake, the winning formula for companies is to produce fresh, captivating and unique news-style programming.
The scope and scale of the potential market companies can tap into is unprecedented. At least 75% of executives watch work-related videos on business websites at least once a week, with the average user exposed to 32 videos every month. Combining video with full-page ads boosts engagement by 22% and 39% will call a vendor after a viewing.
The magnitude of video is rapidly unravelling and the exciting potential of harnessing this medium bleeding into the monthly meeting agendas of marketers across the globe. However, video is just the beginning of this technological revolution, a warm-up for the real disruptors ready to cause tremors of tremendous scale.
The imminent technological comings are enough to unsettle even the most daring of Science Fiction writers. The extreme game-changing disruptors will knock the wind out of every which-way vertical and leave entire industries spinning. Video is in essence, laying the groundwork for the ultimate movers and shakers of our time; the overwhelming capabilities of virtual and augmented reality.