Facebook Hits 8 Billion Video Views/Day, Challenges YouTube
Did you know?
- More than 1 billion people use Facebook every single day
- 1.39 billion people now use Facebook on mobile devices, including more than 1 billion on Android
- There are 8 billion daily video views on Facebook
- More than 500 million people watch videos on the site daily
- In September 2015, over 1.5M small businesses posted video to Facebook, including native uploads and video ads.
Zuckerberg wanted to make it clear that Facebook is focused on investors, who are focused on advertisers, who are focused on reach – particularly mobile reach. It’s clear that he wants video advertisers to use “views” as a standard metric, even though comparing YouTube views and Facebook video views is like comparing apples to oranges.
Zuckerberg also stated that new video tools for Facebook pages are live, and that the site has been testing a dedicated video section. He confirmed that:
“Over the next few years, video is going to be some of the most engaging content online. And by continuing to innovate here, we have a chance to build the best place to watch and share videos”.
Yep, he just declared war on YouTube, which allows over a billion people to discover, watch and share originally-created videos. The big difference between the two is YouTube focus on helping people discover videos – and YouTube’s Content ID program, which ensures that what gets discovered are “originally-created videos.” Facebook is focused on watching and sharing videos.
Sheryl Sandberg, Facebook’s COO, shared a couple of more nuggets of news. She stated that revenue from mobile ads was up 73% year on year to $3.4 billion and grew 73% year-over-year. That means that mobile accounts for around 78% of Facebook’s total revenue from advertising. So, Facebook is focused on mobile.
“The average American adult spends 25% of their media time on mobile, and Facebook and Instagram together continue to account for over 1 in 5 minutes on mobile in the US”.
Mobile, mobile, and mobile. Get it? Got it? Good. Sandberg stated that Facebook was a good fit for marketers as it has “the best performing mobile ad products, and video is making them even better”. She believes that Facebook video gives the marketer a chance to reach a mass audience, with great cross device targeting and measurement”. “Our third priority is making our ads more relevant and effective. Carousel ads show multiple images, and now videos, and drive 30% to 50% lower cost per conversion than single-image link ads”.
Video marketers are indeed faced with a two-party system. According to eMarketer, global mobile ad spending is expected to be $72.1 billion this year, and Google’s share of this market is projected to be 33.7%, while Facebook’s share is forecast to be 17.4%. And, according to comScore, the Top 6 – and 8 of the Top 9 – apps in the U.S. are owned by Facebook or Google.
Today, some casual observers may mistakenly believe that it doesn’t matter whether you choose YouTube or Facebook video. But, there’s a big difference between YouTube’s and Facebook’s world view of video marketing and video advertising.
Facebook is primarily focused on advertisers. Facebook is focused on views – and says a “view” is reached at the three-second mark whether or not the viewer has even turned on the sound. In contrast, YouTube has a more balanced concern for partners as well as advertisers. YouTube also has a more balanced concern for giving viewers choice over which ads they watch and connecting brands with a more engaged audience. In fact, with TrueView ads, you don’t pay for random impressions or maybe-they-saw-its. The viewer has to choose to watch your video or there’s no charge. YouTube not only urges advertisers to go beyond impressions and clicks, it also offers Google’s Brand Lift solution to help them measure brand awareness, ad recall, and brand interest.
Finally, if you’re looking for a recent example of the impact of video ads, check out this one: P&G’s Gillette generated buzz for its latest razor, Gillette BODY, by targeting a rapidly expanding audience of body-grooming men. With a digital-first strategy anchored by YouTube TrueView ads, Gillette reached millennial males with their “100 Years of Hair” video ad.
The results: over 84% of the 13.5 million total viewers finished most of the video, there was a 211% lift in searches for the Gillette brand, and the video ad generated over 500,000 clicks to buy.
Online Video Marketing
Ascend2 conducts a monthly research series, and its most recent Online Video Marketing Strategy survey was conducted online and had 280 respondents, who are US and international marketing, sales and business professionals representing a range of demographic roles, channels and company sizes.
According to the report, the most important objective of an effective online video marketing strategy is to increase brand awareness. Other key objectives include: Increase online engagement, improve customer education, and increase leads generated.
85% of companies that found value in use online video marketing as a strategy. The remaining 15% are struggling to achieve success with video marketing.
What are the most challenging obstacles to video marketing success? According to Ascend2, lack of an effective strategy is the most challenging obstacle to video marketing success according to 48% of those surveyed. Other challenging obstacles include: Lack of compelling content, inadequate video budget, and lack of production resources.
About half of the marketers surveyed consider customer testimonials, explainer or tutorial videos, and demonstration videos the most effective types of online video content used. However, they were also asked, “What are the most difficult types of video content to create?” Customer testimonials and project reviews/case studies topped that chart.
Online video marketing effectiveness is increasing for 87% of respondents, with 43% saying the increase is significant.
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If you’re a business owner already using online video to promote or advertise your business, congratulations. You’re ahead of the curve. But if you haven’t yet considered using video to broadcast your brand, you’re missing out. Why? Because using online video will not only improve your search engine rankings and provide an effective marketing tool available to a worldwide audience, but also leave a lasting impression on potential customers and increase your sales.
Here are five things to keep in mind when using online video for your business:
1. Tell a story. One of the buzzwords characterizing the shift away from pure selling is ‘storytelling.’ In Carmine Gallo’s The Presentation Secrets of Steve Jobs, she says, “the single most important thing to dramatically improve your presentation is to have a story to tell.” With online video, story-driven videos are becoming more and more popular simply because they’re effective; in fact, videos that engage viewers with a story are more likely to be shared, liked and commented on. Consider it an opportunity to visually recount your story and show potential customers something they wouldn’t be able to see anywhere else.
2. Get personal. If you’re a quirky business owner or your company has a killer corporate culture, let it shine. Standing out means being yourself, and highlighting what differentiates your business from others. And although speaking to a lens can be unnerving for newcomers, you’ll come across more naturally if the videographer asks you questions, rather than having you deliver hard line.
3. Boost views and conversions with clear calls to action . Effective online video educates and entertains, but what you also want to make sure it does is inspires the viewer to act. If your online video campaign is more about branding, make sure you include a clear call to action; whether it be visit your website and store, call a phone number, buy now or connect with you on social media. Before this, however, you want to make sure your video gets played in the first place. A recent study shows that using active calls to actions like ‘Click to Play,’ or ‘Learn More,’ can increase a video’s view rate by 12 times over passive labels like ‘Video’ or ‘Video Here.’
4. Go pro. While many business owners produce their first videos themselves, based on thousands of client experiences, it’s likely you’re going to pay a professional to re-do it once you realize it’s lacking narrative and polish. Save yourself the time and added cost, and work with professionals from the very start. Online video is arguably the best marketing tool at your disposal, and the ROI is unquestionable. Bottom line: just because you could do it yourself or hire an amateur, doesn’t mean you should. Has it been successfully done before? Sure, but it’s rare and usually because the personalities in the videos are bigger than the distraction that bad video is. Consider your video your first point of contact with your prospective client. Would you want that to be anything less than the quality and professionalism your business represents?
5. Share-ability and engagement. Videos shared via social media are consumed more than text-based updates, which means there is more potential for a company’s message to be shared and seen via these platforms. “Consumers are more likely to enjoy a brand video and remember the brand involved if they come across it because of a social media recommendation,” according to a recent report . So when you make the move into video for your business, make sure you keep your potential ‘social’ audience in mind.
A number of studies have come to the same conclusion: online videos help businesses sell to affluent consumers. Internet Retailer states, “those who view a video are 144 per cent more likely to place that item in a shopping cart. 52 per cent say watching video makes them more confident about their purchasing decisions.” One more stat if you still need to be convinced: comScore reports, “consumers who watch a video are 64 per cent more likely to make a purchase than those who don’t.”
What are you waiting for? Consumers are ready and waiting to click play on your business’s video content.
Lisa Ostrikoff is a TV journalist and anchor-turned-creator of BizBOXTV, a Canadian online video production, advertising and social media marketing agency.