May 15, 2015
It isn’t just that people like online videos these days; they really like them. YouTube alone receives billions of views each month, with 300 hours of video being uploaded every minute. Online video viewers are expected to reach 1.5 billion in 2016, and by 2017, 74 percent of Internet traffic is expected to be video.
With this huge increase in online viewers, video marketing budgets are seeing significant increases. Merely inserting the word “video” in a message’s subject line will increase the odds of it being opened by 19 percent, while increasing the likelihood of click-through by 65 percent. With 93 percent of marketers using online videos, it has taken precedence over Twitter, blogging and Facebook.
With video marketing relentlessly forging ahead, here are some trends to be aware of in 2015.
1. The Shift Away From YouTube
Over the past decade, YouTube has become an online mammoth with a user base of over one billion. Despites its size, it has been losing users in 2015 and will continue to do so as Facebook and others compete for viewers. ComScore 2014 stats report that three-quarters of online videos are already being watched outside of the YouTube platform. Established companies will also continue to shift their online videos to more professional and flexible media platforms that are less ‘distracting’ for the consumer.
2. Mobile Will Matter More Than Ever
With the ongoing growth of mobile devices, online videos have never been more accessible. Viewers are increasingly using video to fill the idle snippets of their day; waiting for a friend, standing in a line, commuting, etc. According to statistics released by YouTube, 40 percent of views on their site originate from mobile devices. By 2016, mobile video viewing is predicted to comprise half of all online viewing. By 2018, more than 70 percent of all online videos are expected to be viewed on a tablet.
3. The Use of Emotions and Visual Storytelling to Connect with Viewers
What is better than a video that makes you laugh, cry, melt inside and feel alive? Unsurprisingly, the ability to emotionally ‘connect’ with an audience is one of the strongest indicators of word-of-mouth success in brand marketing, and videos that tell a captivating and emotionally stimulating story and emotionally stimulate the viewers are on the rise. 2015 is going to witness the surge of video marketing that embeds any call-to-action within the framework of an emotional narrative, something I’ve referred to in the past as the Emotion / Logic / Emotion principle (or ELE).
4. Cross-Device Authentication
Cross-device video campaigns have become a necessity for brands and businesses as viewers increasingly shift from their Smartphone to a tablet, to a laptop. Despite the difficulties of tracking usage across devices and employing cross-device analytics, the ability to identify the habits of these viewers is going to be vital for video marketing and will be receiving a lot of deserved attention in 2015.
5. Less is More
With the growth of mobile devices, many viewers have gotten into the habit of ‘snacking’ on videos between activities. Dr. Simon Hampton, a lecturer at the University of East Anglia, has found that 37 percent of 18-32 year olds will even check their Smartphone during a momentary pause in a conversation with a friend and 62 percent check their phones during ‘downtime’. These tendencies are dropping completion rates for longer content and forcing online videos to become ever shorter, seeing the growth of platforms like Vine. Already, 80 percent of online videos are less than a minute long and 2015 is expected to see a continuation of this trend as mobile continues to expand.
6. Interactive Video is on the Rise
With proffered video completion rates of 90 percent, interactive video will soon become a major tool in every digital marketer’s kit. When it comes to ads, viewers need more than just a passive role, they need to be engaged. Interactive videos present viewers with a personalized and multi-perspective relationship with the digital content. With the growth of connectivity, the entire consumer experience is becoming increasingly collaborative and video marketing is picking up on this trend.
A picture may be worth a thousand words, but according to Dr. James McQuivey of Forrester Research, one minute of video is worth 1.8 million words. It would be difficult to find a better Return-on-Investment in marketing than video, and in a society where companies only have eight seconds to capture a viewer’s attention, video marketing budgets will undoubtedly continue to growth in 2015.
Jon Mowat is the MD and founder of Bristol-based video production company, Hurricane Media. You can follow Hurricane on Google+, Twitter or Facebook or check out their award winning videos on YouTube.