THE MEDIUM OF THE MOMENT
Video is fast becoming of the channel of choice for consumer marketers.
The medium is being used in a wide verity of ways including product demonstration in retail, to explain the complexities of green energy and to influence people choosing a new car from the comfort of their own sofa.The same is true in business, where virtual meetings and remote training have helped organisations stay connected and focused during the Covid-19 pandemic.
A few statistics show why video is the medium of the moment. It’s predicted that people will spend 100 minutes a day watching online videos in 2021. That is the equivalent of watching 21 continuous days of video. In 2019, we spent 84 minutes a day watching videos online.
During the pandemic, people searched for new, intriguing content. A HubSpot study reports that 54% of consumers would happily watch more video from brands they buy and suggests that video will account for 70% of mobile data usage in 2021.
During the first pandemic lockdown of spring 2020, 16- to 34-year-olds consumed less broadcast TV content than non-broadcast online video content for the first time, both in terms of reach and time spent with the medium per week, according to IPA Touchpoints2.
Brands can seize the opportunity by positioning themselves at the intersection of information, entertainment and sales.
Smart organisations recognise this. In a recent Wooshii poll, 62% of marketers said they were producing more video content for marketing than in 2017.
More than nine out of ten (91%) feel video is more important for brands because of the pandemic3 and 42% expect their video budgets to increase due to COVID-19.
In this report, published in a tumultuous year, we explore the key trends in video content marketing, particularly video’s use across business in the new world of hybrid working, the range of formats that can drive effective targeting and how to balance in-house production and expert external support.
We also look closely at the automotive industry, where video is playing a major role in the sales funnel. As more people research and virtually view vehicles, video is proving highly effective at persuading and influencing them at every stage of the purchase journey.
