Online VIDEO Production | Marketing | Advertising
Back in 2011, only 6% of YouTube views came from mobile devices. But, things have changed dramatically since then. YouTube views coming from mobile devices jumped to 25% in 2012, rose to 40% in 2013, and increased to 50% in 2014. Today, more than half of YouTube views and 65% of Facebook video views occur on mobile devices.
So, where and when can you reach Millennials? Well, as we learned a couple of weeks ago, you should probably try to be in the right place at the right during one of the micro-moments when they check their smartphones 150 times a day. Yep, whether you start with mobile or your start with Millennials, you end up in the same place.
In October 2014, Google and Ipsos asked 1,519 smartphone owners aged 18- to 34-years-old to keep detailed accounts of all of their online and offline video activity over 24 hours. Respondents had to access video via an app, so the study was limited to Millennials who owned a smartphone in 2014, But that still covered 81% of individuals age 18 to 34. The research found that smartphones were the top device to reach 98% of those Millennials, higher than tablets or desktops. The research also revealed that watching video on a smartphones was less distracting and disruptive for respondents, compared to watching video on a TV. Watching videos was the sole activity for 53% of the mobile video sessions.
Now, home wasn’t the only place Millennials were watching mobile video last year. 34% of mobile video minutes were watched while people were out and about. People watching digital video outside the home were also 1.8x more likely than average to be meaningfully engaged because they were likely to be watching video for active purposes, such as looking for information or exploring a passion. While marketers traditionally sought Baby Boomers’ attention in their living rooms, sitting in front of a television, mobile video consumption by Millennials has changed that dramatically.
Since the research was conducted a year ago, YouTube reports that users are spending more time per session watching videos. On mobile, the average viewing session is now more than 40 minutes, up more than 50% year-over-year. The number of hours people spent watching videos on mobile is up 100% year-over-year. And YouTube’s mobile revenue from advertising is up 2x year-over-year.
So, why did advertisers finally jump on YouTube’s bandwagon? Well, they were probably jumping on the mobile video bandwagon – and YouTube as well as Facebook have both benefited from this trend in the digital video marketing business. Advertisers realize that Millennials are twice as likely to be focused on the content while watching a mobile video as they are while viewing it via a television screen. Mobile truly is the first screen when it comes to this demographic.
This was validated by more research conducted by Google and Ipsos in February 2015. They wanted to see how this enthusiasm for mobile video translated for brands. So, they surveyed U.S. consumers who watch video on various devices. And this year’s research found that people who view videos on their smartphones are 1.4X as likely to watch ads as those who view videos on TVs or desktop computers.
It’s the worst kept secret on the internet, but video marketing is one of the best ways for businesses to connect with customers. In virtually every situation, video marketing proves to be more powerful and engaging than written content. Despite this, so many businesses fail to give it a second look. Instead, they proceed with a head-down mentality that emphasizes ‘doing things the way they’ve always been done.’ Don’t be that business.
Valuable Reasons to Focus on Video
Your marketing strategy doesn’t have to focus solely on video to be successful – that’s impractical and unsustainable. However, you should focus on diversifying your existing content strategy by naturally incorporating video whenever and wherever you can. Here are a handful of the top reasons to consider doing so:
1. Increased ROI
If you ask businesses that currently focus on video marketing what benefit they enjoy the most, almost every company will respond with an answer that revolves around increased ROI.
2. Better Engagement
But what’s so engaging about video content? Well, it’s a combination of multiple factors. Primarily, video capitalizes on the human brain’s craving for visual stimulation. When combined with audio, that stimulation leaves a much more powerful impact on the viewer. This impression often leads the viewer to pursue a specific action in the seconds, minutes, or hours after watching.
From a marketer’s perspective, video marketing is preferred because of the flexibility it affords the creative team. There are virtually endless options when it comes to creating different types of videos and disseminating them through a variety of channels.
Some of the most popular forms of video content include customer testimonials, product reviews, new product previews/trailers, video blogs, news features, social media content (Snapchat, Instagram, Vine, etc.), interviews, behind-the-scenes tours, whiteboard videos, and more.
4. Ability to Reach All Demographics
It’s no surprise that video connects best with the younger demographic that’s been raised on YouTube, DVDs, and streaming services like Netflix and Hulu. However, it’s not just millennials that relate to video marketing. Unlike other forms of online content, which must be tailored to fit dozens of unique customer profiles, video marketing has a tendency to work well across the board.
Young, old, first class, middle class…you name it. Everyone connects with video. While you certainly can’t forget about customer profiles when creating video content, you also don’t have to stress over it.
Internet users of all ages will naturally flock to video when given the choice between written content and video alternatives.
Invest in Video Marketing Today
While it may feel like it, you haven’t missed out on the video marketing opportunity…yet. There’s still time to build your internet presence and reach the millions of users that watch online videos on a daily basis. Consider these points and begin formulating your strategy today!
The shift of ad dollars from TV to online video has been largely impeded by one factor: reach. Until now.
The coupling of YouTube’s intent-driven user behavior with Facebook’s “Super Bowl-sized” daily reach presents the largest threat to TV to date. The online video narrative has been fueled by the pitting of YouTube and Facebook against one another. Sure, drama makes for better ratings, but rather than succumb to this supposed conflict, we executed systematic A/B tests of identical creative and targeting on both platforms to set the story straight and provide deep insights into the respective strengths of video advertising on YouTube and Facebook.
The results prove that the two platforms serve different but very complementary roles. The combination of video advertising on both YouTube and Facebook is the key to dismantling TV’s media spend dominance.
YouTube’s TrueView ads on average deliver a much higher view rate and video completion rate (up to four times higher) than Facebook. The ability to target contextually for ad placements (e.g., by channel or video) has a measurable impact on video completion rates and audience retention—we’ve seen 1.5 times higher view rates when using placement targets (targeting specific channels) compared to standard affinity targets. YouTube also offers a lower cost per view in an apples-to-apples comparison of TrueView-style :30 plus (or whole ad) views. Sure, Facebook’s advertised :03 views are cheap, but most advertisers are rightfully skeptical about the impact of such a short exposure.
Facebook video ads, on the other hand, drive clicks and higher clickthrough rates than YouTube, and overall they lead to higher user engagement rates in simple interactions (likes, shares), given the social nature of the platform. While TrueView offers several interactive elements like info cards and companion banners, Facebook’s interactive elements are simpler and easier to understand, and take up significantly more screen real estate, making it easier for users to interact.
Google and Facebook offer near-perfect cross-device user data (and targeting capabilities), which is essential as mobile video viewing keeps growing. As marketers segment budget across platforms and devices, the cost efficiencies of each platform are important to understand. On Facebook, mobile ads tend to be cheaper than desktop (75 percent the cost in our tests). On YouTube, mobile ads are more expensive than desktop (130 percent the cost). Cost per view on mobile is comparable between Facebook and YouTube, and for clickthrough rate-driven campaigns, 30-second assets on mobile perform best across both platforms.
The reach of Facebook plus the long watch times driven by intent on YouTube equals better engagement and campaign performance when both platforms are used in combination. It’s an equation that will prove to even the most TV-loyal advertisers that they’re resisting budget allocation to a supremely effective medium.
Cross-platform online video campaigns—with the reach of TV and the engagement of digital—are the future of brand advertising.
A new study based on feedback from marketers, confirms that video has been found to convert better than other forms of digital content, with 71% saying online video performs better for them than text and images.
86% of those surveyed in the report from Vidyard and Ascend2, “Video Content Marketing: Identifying Metrics and Measuring Impact” also confirmed that they were seeing very positive engagement rates from using video, while 69% of respondents indicated that video had been a good vehicle for lead generation.
95% of respondents to the survey confirmed that video was an important and valuable form of marketing content. The overwelming majority indicated that video was far more important now than it had ever been, with another 32% acknowledging it was somewhat more important. None of those polled (from a pool that were using video as part of their marketing campaigns) said that video wasn’t important to them.
How well does video perform compared to other types of content at generating conversions (sales, downloads etc) for organizations? 71% confirmed that video was better at driving conversions than other type of content, with a further 27% indicating that it held its own. Only 2% of those polled said that video wasn’t performing as well as it should for them.
Brands and companies that are using a combination of self-hosting, and exposure on other websites, like YouTube, are seeing the greatest Return on Investment (ROI) for their video marketing efforts. Only 11% were choosing to host videos exclusively on their own properties, while 43% were exclusively posting content to external platforms like YouTube and Vimeo.
In terms of ROI, publication to a brand-owned property, plus an external portal such as YouTube, provided the best investment return, particularly if there were 51+ videos being created per year.
Those who read my “stuff” as the late George Carlin would refer to it, know I don’t usually use such direct, conversational titles. I write very conversationally, however I am not one prone to using that tone when it comes to titles of my articles.
But in this case, after toying with a more traditional approach, I pretty much said: the heck with it and went with Using Video In Marketing: Why Wouldn’t You? because it’s exactly how I feel. Consider just some of the following stats, courtesy of CodeFuel, when it comes to video then ask yourself: Why wouldn’t you?
– 70% of marketing professionals report that video converts better than any other medium.
– The average internet user spends 88% more time on a website with video than without.
– 64% of consumers are more likely to buy a product after watching a video about it.
– Using the word “Video” in an email subject line boosts open rates by 19%, click-through rates by 65%, and reduces unsubscribe rates by 26%.
– 69% of smartphone users say videos are a perfect solution for smartphone viewing as it offers a quick way for consumers to grasp an overview of a product.
I could go on, trust me. But I will stop here.
So, if you’re a marketer and you’re not using video as part of your overall integrated marketing endeavors: Why Wouldn’t You?
Well before you answer, let me tell you if you are not using video, you’re not alone. Here’s one more stat to chew on: Only 24% of brands are using online video to market to consumers .
Big And Small
As for the 24% of brands who are using video, you can count both large and small brands among them. The CEO of Gempacked, Cyrus Nemani says “we use video marketing to give tutorials on how to use the different jewelry making components that we sell.”
One of the larger brands is one you may have heard of before. They’re the ones with the golden arches. I asked Matt Biespiel, McDonald’s Senior Director Global Brand Development how they incorporate video into their overall content strategy.
“McDonald’s was one of the first companies to build a brand and drive our business with television advertising,” he told me. “As viewing habits evolved, we also evolved our strategy to continue being part of the conversation. Today, we look at creating unique video content across multiple platforms.”
He added that the in-store experience is benefitting from video, too telling me that many restaurants are shifting to digital menu boards, giving them an exciting opportunity for video storytelling at the point of sale.
Biespiel warns that video is not one size fits all. “Marketers need to understand that one size does not fit all. Marketers can’t expect to cut a 30-second TV commercial and use that exact edit on a YouTube pre-roll. It won’t work. At McDonald’s, we look for the idea first, then customize the content across multiple channels.”
According to AOL’s sixth annual State of the Video Industry report, marketers are finally re-prioritizing their traditional advertising budgets and adding dollars to digital video. The survey’s finding that TV budget growth is stagnating, with a sizable portion of those dollars being reallocated to video advertising, is long overdue.
Where is the money coming from? According to AOL’s survey of nearly 300 agencies, publishers, and brands, approximately half of the buyers who increased their digital video spending this year reported that the additional spend came from their TV budgets. And 39% of buyers said their increased digital spend is coming directly from broadcast TV, which is more than twice as many as the 18% that said this in 2012. And 31% said they were funding their digital video efforts with cable television dollars, up from 18% in 2012. Year-over-year, television remains the fastest growing source of digital video ad budgets, with display in second place.
Agencies are looking for “device-agnostic video consumption” as well as find viable alternatives to the cost of TV advertising, which, according to AOL, has increased by just under 30% since 2012. Heck, YouTube hit a billion monthly users in March 2012. If brands and agencies were really searching for “device-agnostic video consumption,” you’d think they would have discovered YouTube before now. For the past three-and-a-half years, YouTube’s viewership – month in and month out — has been roughly nine times larger than the largest Super Bowl audience in history.
Facebook is starting to become a must-buy for big brands, because it has the reach and the impact they want. Now, according to ad agency executives, they think Facebook is finally poised to capture more TV ad dollars.
“We see Facebook at a core pivot point,” says David Hewitt, VP and mobile lead at the digital agency SapientNitro. “It’s now a safe bet to put a lot of money into.”
In the last six to eight months, he says, brands have started to understand the reach Facebook has among smartphone users–some 844 million people each day. “It’s hard to get reach on mobile,” he says, but now “Facebook checks that box” in a way that few others online besides Google can.
Another reason is that Facebook mobile video ads can run in a lot of places besides just Facebook. Now that the company is operating a number of other distinct apps, such as Instagram, WhatsApp, and its own Messenger app, advertisers have a wider choice of places to reach a broader range of audiences in unique ways. It also can run Facebook ads on other sites that are part of its Audience Network.
Not least, advertisers like what Facebook is doing with video. In video ads that play automatically in people’s central news feeds, they have a format they know people watch (and that commands much higher prices for Facebook). “There’s an amazing amount of upside to Facebook mobile video ads,” says Hewitt, enough to overcome what he calls “muscle-memory media buying” by big brands.
What’s more, Facebook is pitching advertisers on the ability to buy ads using the same measures they use for TV ads, according to a recent report. Indeed, the ability to measure the impact of its ads on product sales is another big reason Facebook has attracted advertising’s biggest spenders. One example Sandberg cited: Acura used Facebook video to launch the TLX, then showed “retargeting” ads when people who saw the video went elsewhere online. Using a Facebook service called Conversion Lift, she said, Acura could prove the ads drove car sales.
Facebook isn’t alone in its pursuit of brand advertisers. “Google, for example, is rapidly building out audience targeting options, and has a ‘little’ video network of its own—YouTube—that is massively successful for advertisers and very effective on mobile,” says Craig Palli, chief strategy officer at the mobile marketing technology firm Fiksu.
So far, though, Facebook appears to be more than holding its own.
YOUTUBE STATS: MUST-KNOW FOR MARKETERS
Google recently announced it’s Q2 2015 results, and the report should convince any smart marketer that YouTube has a massive place in the now, and the future of online video consumption.
Here are some of the key highlights critical for businesses to understand:
YouTube Watch Time has increased by 60% year-over-year
The average YouTube session on mobile is now 40 minutes
.. which is the fastest growth rate in viewing time in 2 years
YouTube’s top advertising partners increased their ad spend by 60%
On mobile, YouTube attracted more viewers aged 18-49 than any cable network
Google confirms YouTube has more than 1 billion active users
Viewers who entered YouTube via its homepage tripled compared to 2014
Paying attention? Great. Online video is here to stay – there is no question. As a smart business owner, it only makes sense that you would put your brand exactly where your target market’s eyeballs are… and many of them are obviously glued to YouTube these days.
BizBOXTV Video Advertising clients have found success with both YouTube Video Ads & Facebook Video Advertising platforms, depending on their unique marketing & advertising goals… with unparalleled success when it comes to exposure, increased brand awareness and of course, sales.
Video Production Services
BizBOXTV Calgary Video Production Services: we work with businesses of all sizes and in all industries to create a single video or a series of videos to communicate the messages you need to get across to your audience. Our streamlined and professional Calgary Video Production Services ensures you get your videos quickly & easily!
With many uses and unquestionable ROI, you will discover why BizBOXTV Video Production is the choice for thousands of businesses and brands in all industries and cities across Canada.
Did you know that 76% of consumers say online video is their preferred method of consuming brand information? TRUTH…& 44% say video is most ‘appealing’ form of media, with ‘engaging, sharing, authentic and shareable’ listed as reasons for trusting video content versus other forms of communication.
35% say an online video is more memorable if it is of high quality and if it delivers a positive viewing experience.
& 39% are more likely to research the brand further with 36% being likely to spread the word about the brand.
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