As consumers, we are surrounded by marketing and advertising 24/7. From transit stations to emails to Facebook ads, we are always being targeted. Naturally, we now have a tendency to block these things out. We fast forward through commercials and change the radio station with the click of a button. So the question is, how does a marketer break through the clutter and reach a consumer?
The answer: video. The effectiveness of video marketing is unparalleled and the numbers don’t lie. Today, Facebook has 4 billion video view per day, up 4x in just the past 6 months. This may seem surprising, but think about it: as consumers, we like to do our own research. We like to watch reviews and how-to videos (100 million hours watched from Jan-May 2015) about the products and services we’re going to spend money on. We like to gather knowledge about brands before we interact with them.
Video has been an internet trend for some time, but it is increasing in relevance at an exponential rate. In 2014, video accounted for 64% of all consumer internet traffic. It is predicted that by 2019, it will account for 79% of all consumer internet traffic. The Millennial generation continues to drive these statistics. Among the 18-34 demographic, video consumption has spiked by 53% since 2013 and the average millennial consumes about 35 minutes of online video every day. Millennials are the most brand-loyal demographic, and video marketing successfully engages them in a conversation with brands, which strengthens relationships. However, every generational demographic is showing a distinct increase in video consumption.
Not only is video an increasingly impactful means of marketing, it is also an appealing medium to marketers. Video performance is highly trackable—beyond view counts, it is now possible to measure how an individual video impacts lead generation and revenue. Video is also incredibly cost effective—the average cost per customer acquisition for websites using video is 20% lower than those not using video. And with one minute of video being worth 1.8 million words, the writing is on the wall so-to-speak… or better yet, on the screen.
Stay tuned for “Top 6 Tips for Maximizing Video Marketing”. In the meantime, check out our blog on Mobilegeddon and the importance of mobile design for web.