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Video may have killed the radio star, but it’s become universally invaluable to businesses in all industries. Why? The answer goes far beyond visual stimuli.
We all know advertisements have evolved over the years with new technology, changing trends, etc. What one might have read in print ten years ago, is now most readily accessed on a computer, television, in some cases, even a wristwatch. In fact, a recent Nielsen Company audience report revealed that adults in the United States devote about 10 hours and 39 minutes each day to consuming digital media. That’s nearly half the day! Naturally, this has led to an evolution in advertising strategy regarding marketing mediums, but what about the way this shift has changed us?
Remember Myspace? Users spent hours building custom-decorated profiles, selecting “Top Friends” and writing virtual diary entries. Then came Facebook, a more “sophisticated” platform that was still content heavy and to this day leaves room for a plethora of tools such as Groups, Events and Business Pages. But as technology progressed, so didn’t our attention spans, giving rise to Twitter, where character count was limited and users only wanted headlines, no story. But even that was too time consuming for some, and we’ve now seen Instagram and Snapchat rise to the top of the social media leader boards, with only an image and an (optional) few words to capture our thoughts. Somewhere along the lines, we changed. Or technology did and we simply followed. But whether the chicken or the egg came first, fact of the matter is our window for communication has become drastically condensed and increasingly visually driven.
– Social video ad spend is expected to double once more in 2017 to over $4 billion dollars. This would account for a third of US digital video ad sales, and 20% of social media ad sales.1
– Digital video ad spending is rising faster than search and display. US digital video ad revenue will rise by a CAGR of 21.9% through 2020.2
– Video ads have an average click-through rate (CTR) of 1.84%, the highest click-through rate of all digital ad formats.3
– Marketers and Advertisers are spending on average more than $10 million annually on Digital Video, representing an 85% increase from 2 years ago.4
If this was where the story ended, we’d simply create a video and see our sales skyrocket. But the fact of the matter is, we’ve already been there. Most businesses have been pushing video content as a primary source of advertising for a few years now. So the question isn’t should you use video anymore, it’s what kind of video should you use to avoid becoming white noise?
The answer lies in messaging, your marketing persona and the method of delivery. What are you trying to communicate to the consumer that they haven’t already heard before? In what tone and manner will it be conveyed? And how will you translate that? Through shock value? Music? Storytelling? Recognizing the need for this impactful imagery is half the battle, but getting the answers to these questions can often be quite a discovery process.
Below are some examples of video messaging we, at The Creative Bar, have developed for our clients
1 Source: http://www.businessinsider.com/social-video-ad-spend-will-double-in-2017-2017-4
2 Source: http://www.businessinsider.com/ad-spend-continues-its-climb-2017-1
3 Source: http://www.businessinsider.com/digital-video-advertising-growth-trends-2014-5
4 Source: https://www.iab.com/insights/2016-video-ad-spend-study/