Written by Kelly Richardson, co-founder of Infobrandz, dedicated to assisting individuals in building businesses through visual communication and influential blogs.
We find ourselves amidst the modern age of video advertising, where marketers are experiencing significant shifts. With the widespread use of smartphones and other devices, people are more interconnected than ever before, and advertising has transcended cable TV. This connectivity grants businesses the ability to swiftly and easily reach their target market with the right message. However, it also means that there is a greater demand for video campaigns that are timely and relevant to consumers' current interests.
Noteworthy Video Trends for 2023:
- Rising Popularity of Video Content: Consumers increasingly rely on video content to learn about brands and products. According to a study conducted by NogenTech, 91% of marketers are utilizing video content in 2023.
- Surge in Streaming Video Services: Since the onset of the Covid-19 pandemic, the popularity of streaming video services has surged. A video marketing survey conducted by Statista revealed that, as of November 2022, 86% of marketers used videos on Facebook for marketing purposes. Among those surveyed, YouTube emerged as the most favored social media platform for marketers at 90%, while TikTok was utilized by 35%.
- Evolution of Video Marketing Landscape: Over the past two decades, I have witnessed a significant transformation in video marketing. Previously, video advertising was predominantly the domain of larger brands and companies. However, with the emergence of social media and video-sharing platforms, even smaller businesses and individuals can now create and share high-quality videos.
- Expanding Digital Video Advertising Market: Video advertising encompasses advertisements that appear within a video player, including pre-roll, mid-roll, and post-roll ads, as well as text or display-banner ads that overlay the video. The digital video advertising market is experiencing rapid growth, with projected spending to reach $80.1 billion in 2021 and $120 billion by 2024, according to a study by Statista. This presents a tremendous opportunity for businesses to connect with consumers through video ads.
- Vertical Video Advertising and User Preferences: With the skyrocketing popularity of social networking, there has been a parallel increase in demand for vertical video advertising. Interestingly, a recent survey conducted at my company revealed that 75% of respondents prefer to watch videos horizontally. This preference likely arises from individuals scrolling through their feeds while holding their phones vertically, facilitating easier content consumption.
Strategies for Business Growth and Expansion:
As video marketing gains further traction and becomes increasingly essential, understanding its significance is paramount. Here are some effective ideas that will elevate your brand or product to the next level through video marketing and campaigns:
- Product Demonstration Videos: For product-based companies aiming to attract new users or customers, creating videos demonstrating product usage can be a great starting point. Alternatively, filming conversations with existing customers to gauge their satisfaction after using your product and consolidating these findings into a single video can be impactful when shared across your social media platforms.
- 10-30 Second Product Feature Videos: Consider crafting short demo videos, lasting 10-30 seconds, to showcase the key features of a new product you plan on launching. By highlighting the product's attributes and benefits in a concise, easily digestible video format, you can capture the attention of your social media followers and target audience.
- Customer Testimonials: Leveraging social proof can be a powerful tool for attracting new customers. By inviting satisfied customers to provide brief testimonials, you can infuse a personal touch. Sharing these short client testimonial videos with other viewers can leave a lasting impression and help you secure new business.
- Q&A Recorded Sessions with Prospective Clients: If you aim to create video content that resonates with your audience, consider hosting Q&A sessions with prospective customers or buyers. Engage with a buyer who has recently made a purchase or expressed interest in your product, delving into their motivations, reasons for choosing your product, and what they appreciated most about your offerings. This approach can provide real-time insights into your audience and buyers, facilitating smoother deal closures.
- Video-Scribing Technique: Whiteboard videos have gained popularity due to their visually appealing nature and cost-effectiveness. All you need is a camera, proper lighting, sufficient space, and someone skilled in drawing. You can select a relevant topic, such as current trends or industry issues, and create a video highlighting your solution to the problem at hand.
Final Thoughts:
In 2023 and beyond, video marketing will emerge as one of the most intelligent approaches to digital marketing strategies. It offers accessibility, shareability, and inherent value. With video marketing, you can create personalized content that genuinely impacts your audience. When it comes to evoking strong emotions that lead to sales, there is nothing quite like it. Ultimately, sales, to some degree, are always personal.
