As the year 2017 comes to a close, it is a good time to reflect upon the year that passed, as well as make predictions about the year to come. In the world of digital marketing, video continues to be king. In early 2017, YouTube announced that people around the world are watching a billion hours of video content on its platform daily. According to Hubspot, 43% of people want to see more video content from marketers, and 51.9% of marketing professionals worldwide name video as the type of content that has the best return on investment.
Businesses are publishing an average of 18 videos per month in an attempt to tap into the consumer desire for video content, and many are looking for the right channel and methods to use videos to reach out to their audience, both old and new. With that in mind, here are a few trends in video marketing likely to capture the market in the year2018.
All-knowing machine overlords might still take a few centuries to turn up, but the march of artificial intelligence into our lives continues strongly. AI is being used to offer new video-watching options, connecting users to content that they are likely to want to see. Further, AI is tracking users and their reactions to advertising, enabling platforms to offer more personalized promotions and video advertising to users. As the deployment of AI in commerce and the market increases, it is bound to find greater use and synergy in video marketing as well.
Tools such as Facebook Live will enable the live-streaming of events and sports programs, which are likely to be extremely popular in the coming months. It will act as an excellent way for marketers to reach out to customers and will be useful for companies to conduct interviews with their management, get video testimonials, and cover sales and promotions. For those brands catering to a more technology-savvy demographic, live streaming can even be an event in and of itself – tie-in promotions, offers, and giveaways could provide incentives for customers to respond to live events.
Online TV and OTT services
As more and more Indians get internet access and better connection speeds, it is to be expected that they shall use their devices to get their quota of visual entertainment. While TV watching still exceeds daily YouTube watching (1.25 billion hours per day for the USA), this number is decreasing; 2018 is likely to be the year that cumulative video consumption online will exceed the time spent watching television. People will start using online platforms to catch their regular TV programming, and this offers advertisers a chance to get eyeballs for their campaigns at much greater cost-effectiveness than advertising through television channels.
A truly immersive video-watching experience, 360 videos have been catching on in 2017 and will likely gain more momentum in 2018. While this is best experienced through VR headsets, such videos will also be accessible for less well-equipped users with their computer or smartphone screen’s browser control. Google recently carried out an A/B test using a normal video and a 360-video, and even though the 360-video got fewer views, it managed to get more click-throughs, conversions, and shares – the kind of metrics that really appeal to marketers. This made the 360-video and more cost-efficient, and it engendered a better customer experience.
In 2018, consumers won’t just want to watch video content but get more involved in it.
With the balance shifting from television screens to the internet, video marketing in 2018 will be a primary channel for brands to get their message to their target audience and demographics. While it still remains to be seen how the creative marketing mind exploits the opportunity, there is no doubt that digital marketing via video will be one of the most important channels for consumer outreach in 2018.