Anyone who has an online presence will be aware of the rise of video. Video has become more important than ever over the course of the past few years, and with further video integration from numerous important online channels it has taken a key role in marketing.
Understanding the most important video marketing trends is vital to ensuring that your business strategy is aligned with the industry and that your brand does not fall behind competitors. Video is likely to play a starring role in your marketing plan this year which is exactly why we have compiled this list of the top 10 video marketing trends for 2016.
The Prioritization of Digital Video
It is no secret that traditional media platforms have become less of a priority for businesses, however research conducted by AOL has revealed that traditional advertising budgets are being reprioritized to fund digital video. In fact half of the budget being moved to digital video is being reallocated from TV, indicating the shift that will continue in 2016 away from TV and toward digital platforms.
Invest in Mobile
Since 2014 mobile video budgets have increased by 18% according to AOL. In 2016 this percentage is likely to rise even higher as mobile platforms become more important than ever. Investing in mobile video in 2016 will lead to higher engagement and direct interaction that other video could not receive. When viewed in combination with the interactive potential of mobile video this trend makes complete sense.
By 2019 it would take an individual over 5 million years to watch the amount of video that will cross global IP networks each month. This research conducted by Cisco is a significant indicator of the volume of video that will be online in just 3 years. This has implications for 2016 as the amount of video that is available will grow further, meaning that in order for content to be viewed it must really stand-out and have purpose. The days of video content automatically being able to reach an audience without working for it are over.
Video On Demand
While video on demand services have already proved popular, they are set to be used more than ever in years to come. Consumer video on demand is expected to double by 2019 according to Cisco with HD video making up 70% of all video on demand traffic, an increase of 11% from 2014. This indicates that within the next three years it is expected that there will be at least 2% additional HD traffic, indicating how high quality on demand services will grow in popularity. Finding ways to market within or parallel to these on demand services will be vital to video marketing strategies.
Branded Video Content
Creating branded video content is already an important aspect of video marketing, however it is expected to become more important as video gains more exposure. AOL indicates that at present over 30% of brands’ digital video budgets are dedicated to branded video. Branded video will also be more important with factors such as the increased search engine integration of video alongside text searches.
In 2014 64% of consumer internet traffic was video. Research by Cisco suggests that by 2019 this percentage will rise to 80%. This figure does not include peer-to-peer sharing of video, but with P2P considered it is estimated that up to 90% of internet traffic will be video. This demonstrates the mass popularisation of video and shows how important it will be for marketing. As more people want video content, marketing will have to shift in this direction while effectively targeting specific audiences.
Using data to support video marketing has already proved to be effective, but as the technology used to understand data and interpret it into strategies improves, programmatic video will become even more beneficial. At present AOL states that 91% of buyers and 88% of publishers are benefiting from programmatic video, with this number likely to increase as video is further popularised and video platforms evolve.
The 4th-annual online video marketing survey conducted in conjunction with The Web Video Marketing Council showed that 41% of B2B organisations planned to increase video marketing spending in 2015. This is a significant number of businesses increasing spending, and when considered alongside the fact that 73% of businesses said that video has positively impacted marketing results it makes sense that more businesses will be spending money on video marketing.
These trends broadly indicate the overall growth that can be expected in video marketing. There are clear signs that video marketing will be more important than ever this year, and in the years that follow. Building a solid marketing strategy that includes this growth will undoubtedly help with creating a foundation from which to effectively market any brand in the future. People are expecting to see video now more than ever, and the engagement they have with it makes it one of the most effective tools available. This is the perfect opportunity to fully embrace video and build on these exciting trends.