December 12, 2022

The Future of Video Advertising and Marketing

December 12, 2022

Video has quickly overtaken the internet and every social platform available, giving marketers the opportunity to elevate their marketing skills. Marketers who adopt newer mediums like video to convey their brand message can generate more leads, boost brand awareness, and increase revenue.

In fact, video advertising has grown so popular that businesses must utilize video to stay competitive. Continue reading to see where video advertising currently stands, where it’s expected to go in the near future, and how you can make video work for your brand.

The Current State of Video Advertising

The number of businesses that use video has nearly doubled since 2018. According to a study conducted by Wyzowl, 86 percent of businesses say they use video advertising, and 92 percent claim that video is essential to their overall marketing strategy. Additionally, 79 percent of the companies that reported not using video claim they’ll start in 2022.

Why Begin Video Advertising?

Today’s consumers are more likely to engage with a video. According to Wyzowl, 62 percent of those surveyed said that video advertising’s success hinges upon engagement, like comments, likes, and shares. Consumers have also proven that they’re more likely to share videos as opposed to other content like written content. While some effort is required upfront, quality video content increases traffic, generates leads, and increases sales, producing a high return on investment.

Wyzowl’s data shows that 87 percent of marketers experienced an increase in traffic, 86 percent claimed they generated leads, and 81 percent experienced an increase in sales by using video in their advertising campaigns.

Video advertising is also very dynamic, which allows brands to capitalize on ROI by crafting versatile, diverse content. For instance, brands can create informative videos, promotional videos, product demonstrations, or reviews. Consider this informative video from Gillette. The goal for most marketers when it comes to video advertising is to create explainer videos to introduce their consumers to a product or better familiarize them with it.

With methods like explainer videos being relatively easy to produce and in demand, businesses can’t go wrong getting started producing video content today.

Pros and Cons

Video advertising has an overwhelming amount of benefits that brands can capitalize on. That said, there are some potential pitfalls to video that businesses should be aware of so they can learn how to avoid them.

Pros

Videos Increase Conversions

Consumers are more likely to remember a brand if they’ve engaged with its content. Video excels because it allows brands to delve into their products and services in ways that traditional advertisements can’t. A well-made video will also incorporate the brand’s voice throughout the video, through a representative or text. If executed properly, consumers are drawn in and many may go on to buy your product, increasing conversions. Simply placing a video on your website’s landing page can increase your conversion rate by as much as 80 percent.

Video is Shared Easily

Video is the most shared media across platforms. According to Wordstream, videos found on social media platforms are shared 1200 percent more than images or text, and 92 percent of mobile users who watch videos are likely to share videos they enjoy with others. More shares could lead to more conversions and sales. At the least, this gives your content a higher chance of visibility.

Video Shares Brand Personality and Values

Video is a great way to implement personality in advertisements since it gives creators room to experiment with commentary that brings your brand and products to life. Image or text merely provides a glimpse of a brand’s personality and values, making them less efficient methods of connecting with an audience. Just look at how Ben & Jerry’s is able to introduce viewers to their team and their values in their promotional video.

Cons

Production Expenses

Investing in camera equipment, lighting, and editing equipment are initial investments that are essential to high-quality video production. These barriers may discourage many growing brands, especially those without enough room in their budget, so it’s important to plan for production expenses as part of your video strategy.

Viewers With Short Attention Span

The average attention span for viewers today is very low. Studies have shown that a video has about 2.7 seconds to grab a viewer’s attention, so it’s essential to entice the viewer from the start. The consequence of failing to draw your viewer in means that they won’t be receptive to the material in your advertisement, and will likely click away.

Technical Issues

Technical issues and production expenses often go hand in hand. It’s important to invest in the right equipment. Technical issues like slow load speed, weak internet connection, and poor audio can hinder a viewer’s enjoyment of your video advertisement. Anticipating and mitigating technical issues can be the difference between a successful video advertising strategy and a failed one.

How You Can Use Video to Your Advantage

There are many low-cost and relatively easy methods of video creation that your brand can try today.

Short and Long Form Videos

One of the first decisions you’ll have to make when creating video content is choosing between short-form and long-form videos. While both have their benefits, short-form videos are king. Platforms like Tik Tok and YouTube Shorts are great for the average consumer, with the average American spending about 46 minutes on Tik Tok daily. That said, long-form content like live streams can also draw in high engagement, and are best used to expand your audience during a live event, like product launches.

Contextual Ads

Recent trends have shown that advertisers are now contextualizing their video advertisements in the hopes of attracting customers at peak engagement. Advertisers can capitalize on this transition by investing in contextual video advertisements so they can meet customers where they are at pivotal moments with the content they want to see. For instance, if a consumer reads an article about coffee machines and then is shown a video advertisement about a brand of coffee, they’ll be more inclined to pay attention to the advertisement.

Understand Your Target Audience

Understanding your target audience is essential to any successful marketing campaign, but this is especially true for video advertising. Viewers are likely to click away within a few seconds if they’re not drawn to an ad, so businesses must ensure that every aspect of their content is tailored to their audience, from subject matter to audio selections. GoPro, for example, understands that its customers want a captivating story that showcases the capabilities of its products, which is why they use user-generated content to market products to consumers.

Choose Your Platform Carefully

Every popular social media platform has made video a key feature. YouTube is exclusively video, TikTok is almost entirely video-based, Snapchat has stories, and Instagram has both stories and reels. Businesses stand to profit off of the popularity of video, but they have to be careful about which outlets they choose. Each platform has its own audience and best practices for success, so you have to understand where you’re most likely to reach your audience. If you’re starting out, YouTube has the best ROI, so consider debuting your video content on YouTube and expanding to other platforms as you see fit.

Don’t Stress About Equipment

Many businesses simply use their smartphones to create content, and the best part is that most viewers can’t tell the difference. What’s most important is to get started immediately.

Use Humor Wherever Possible

Humor has long been a popular strategy for advertisers, but it’s evolved in recent years. Many popular brands have begun marketing to a younger demographic, Gen Z in particular, which is more receptive to funny ads. Marketers that can connect with their audiences through humor have a greater chance of retaining customers and ensuring that their videos gain traction. Warby Parker is a perfect example of how a company can be highly effective with a simple premise:

Adding Video Advertising to Your Marketing Strategy

Video is on the rise and showing no signs of slowing down, providing marketers with a great opportunity to either continue their current video output or get started on video production. While the influx of video advertising doesn’t mean traditional marketing will disappear, the fact is that video has proven more successful than text. Businesses of all sizes can begin crafting their video advertising strategy with the relatively low-cost strategies outlined above to elevate their marketing strategy today.

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