2020 was certainly a difficult year to predict and has taught most of us to expect the unexpected. The unforeseeable circumstances in 2020 forced many businesses to change in inconceivable ways. Issues caused by the pandemic and then the subsequent lockdowns forced businesses to come up with creative ways to adapt and overcome the new obstacles that they faced with.
The pandemic of course had a huge impact on video production. Since large-scale productions were pretty much obsolete during 2020, projects had to be scaled down and many businesses started to create their own DIY video content. During 2020 there was a massive increase in video production. As many consumers were forced to stay home, statistics showed that there was an increase in time spent on screens during the lockdown. As more video content was consumed, this eventually led to businesses spending more on online video than ever before.
Video has become one of the most powerful ways to interact with consumers in the digital space. In 2021 we expect video to only grow larger as a marketing tool, as greater awareness of its value is realised. Here we talk about three of the video marketing trends we expect to see in 2021.
Video on Mobiles and Social Media
It is estimated that 3.8 billion people now have access to a smartphone, this means more than a third of the entire population of earth owns one. Smartphones and the apps that run on them are becoming increasingly video orientated. Social media platforms like Instagram and Tik Tok ensure that people’s daily lives have become inundated with videos, each of these vying for the attention of the viewer.
This is why in 2021 it will be so important to optimise video for not only mobile but also social. It is predicted that consumers will install up to 85% more video streaming apps in 2021 from pre-COVID Levels. With more video streaming apps comes increased spending on mobile advertising. Many apps now have the capability for targeted advert campaigns, which allow advertisers to target and show their videos to the most relevant audiences. Targeting improves the effectiveness of online advertising as it avoids the wastegate created by sending an advert to a consumer who is unlikely to convert, target advertising eventually leads to lower advertising costs and expenditures.
Short and Long Form Video
In 2020 we saw short form content dominate across all channels. Short form videos work perfectly at fitting information into quick and digestible bursts. Studies have shown that videos with the best view time are often five minutes or less, the shorter the video is the more likely it is to watched all the way through. Rise in the popularity of apps like Tik Tok, as well as an increase in the popularity of functions such as Instagram stories, show that short and snappy video will most likely remain hugely popular in 2021.
However, in 2021 we will also probably see interest in long-form video grow. It was believed for a while that our attention span has been shrinking but there have been studies now that disprove this point. There is no denying that short videos are easy to consume, especially on mobile and via social media. These bite-size videos have been argued to be too short to allow brands to form emotional connections, that will make them memorable to consumers. It has been shown that although shorter videos do encourage longer watch time, videos that are longer actually drive higher engagement.
Videos Across the Whole Marketing Funnel
Now that marketers are realising the true power of video, we should expect to see it implemented at every part of the marketing funnel. Video has a huge impact on attracting new audiences, educating leads and then converting customers.
Using videos at different stages of a marketing funnel and across channels can help those in the funnel have a shorter and more straightforward journey. 72% of people prefer to learn about a company via video, rather than text. Videos can be used to explain a brands values, provide more details on products and services and are often more memorable for a consumer.
Videos at the brand awareness stage can help drive people to a website, 53% of consumers engage with a brand after viewing a video on social media. They are also useful through the nurturing stage, especially within emails, as they can help to increase the click-through rate by up to 300%.
Video in the eyes of marketers is becoming less of an add-on and more a fundamental part of a marketing strategy. 93% of marketers who use video say that it’s an important part of their marketing strategy, and this percentage has only increased year on year.
How Can We Help?
Video marketing is expanding at a rapid rate and 2020 only proved further how video can be successfully used to keep us connected, informed, and entertained. Creating a video can be a difficult task, even when the world hasn’t been subjected to a state of such unpredictability. The video production process can be arduous and intimidating but that’s where we come in. If you need help creating an animation or video for your next advertising campaign contact us.