What will be the future of video marketing? Why should video marketing be the center of their marketing? What strategies should we use to get the most benefit from video marketing? In this article, we will cover it all. Video marketing is a tool for building a marketing campaign, raising conversion rates, building the brand value, and raising CTR (Click through rate). At least that’s what I’ve read on articles from Forbes and blog Hubspot.
In a report by ClickZ, It has seen that 63% of marketers use video marketing in their strategies, But a lot of them don’t know the right platforms to put their video on and they do not target the audience properly. Most businesses prefer hiring video marketing agencies to grow their business to the next level.
Here is a short guide to video marketing in 2020
Let’s start with the Importance of Video Marketing
Before starting an ad campaign, you should know that according to several studies by 2022, more than 82% of internet traffic will come from video content. 5G streaming, UHD, or 4k video streaming has already grown a market to make better video content and publish it. There are several new streamlines also like AR and VR which are also popular. Brands and businesses are also using these technologies to give their customers a better experience of their products and services.
What are the outcomes of this? In 2019 on average people watched videos 84 minutes/day. And by the end of 2020, It is expected that this number will grow to 100 minutes/day. By 2020, it is projected that one million videos will be streamed on the internet per second.
Here are some stats of Video content consumed in 2020
- 55% watch videos every day.
- 78% watch videos every week.
- More than 70% of consumers prefer to watch and learn from explainer videos of products and services
Video Marketing Strategy For 2020
Choosing the right video marketing strategy is a very crucial task because sometimes a poorly chosen strategy that doesn’t tackle the market challenges and doesn’t take new opportunities can lead to the underachievement of the campaign. There 3 core steps that you can follow while planning a video campaign.
A. Focus on your desired goal
Define and focus on the goal you want to achieve through your video marketing campaigns like click-through rates, sales, subscribers, or conversions. From video production to their advertising keep the goal in your mind and select only those options in AdWords or any other ad tool. Make a video marketing strategy that includes all channels, platforms, and tools where you can find your right audience.
B. Choose a creative type
After you’ve decided what is the goal you want to achieve the next step is to choose the format that can provide you the best return on investment. The data released by SmartyAds DSP can help you decide which creative type you can use. The most famous ad formats are the following:
- Playable games- This format is found very attractive for gaming apps. This video ad format prompts another game and allows users to try and play the game before even downloading the game. This format is suitable for driving installs and a good quality audience. The average install of these types of ads can give you 9,700 per month with 10% CTR.
- Rewarding video ads- These video ads are played at intervals of the mobile games in exchange for watching the video ad fully they give bonuses in return which can be used for in-app purchases. More than 71% of gamers like this format because they are getting free bonuses that they cannot access earlier. These formats offer average CTR in between 5 to 10 percent and 10 to 15 $ as CPM.
- Interstitial videos: These ads can appear at any time in between an ongoing video. They can be used alike for pc, in-app, mobile, tablet, etc. The average CPM they offer is in between 5 to 10$ with 5 to 10% CTR.
- Native Video Ads: These types of ads are best for campaigns to raise brand awareness. They generally appear at feeds or recommendation columns on the website or page. These video ads fit naturally in the web content and do not cause any type of irritation and they mostly show to relative ads that a person searched about. They offer 41% higher CTR and 54% more views as compared to other formats
C. Choose a platform
Always think of your target audience before choosing the platform where you want to post your video content. If you choose to put the video on your website then only your website visitors will be able to watch the video. If you choose Youtube and embed the video on your site, then both the Youtube audience and your website visitors will be able to watch it. To make it more visible to the right audience you can post the video on social media platforms and groups.
The best suitable strategy, if you have a business of training or education, is to build an advertising funnel. The primary source of traffic should be Youtube ads then a visitor watches your short video, clicks on the link in the description box, and registers himself for a video tutorial. Then you can place the CTA buttons of your landing page in the tutorial.
Other businesses can use trending TV channels or online entertainment streaming platforms to expand their reach. It is expected that by Dec 2020 this type of advertisement will reach 5 billion dollars.
The reason behind video content becoming the most popular format in 2020 is because of Mobile gadgets, social media, and improvement of technology of connected devices.
The businesses will spend more on their budget for video marketing campaigns over the next few years because stats show that people will spend more time watching videos.
To stand out from the growing competition marketers and businesses should use automation advertising, formats, and platforms to increase the Return on investment.