By now it is cliché to point out how much our world has changed since the onset of the COVID-19 pandemic; certainly, the past year has proven disruptive to consumer behavior, forcing advertisers to adapt in kind. As we wade deeper into a new year, and as we see more and more reason for optimism that the pandemic is in its endgame, many marketers are wondering what kind of tactics they should be investing in.
In our view, you can never go wrong investing in digital video, a medium that’s consumable, shareable, and rife with creative opportunity. If anything, we believe the past year has made digital video more paramount than ever before… and there are a few reasons why.
People are Watching More Video
Statistics suggest that video consumption has risen steadily over the past several years. In 2020, digital video took another massive leap forward, thanks in large part to the pandemic. Simply put, many of us have spent a considerable chunk of time stuck at home, with our normal range of activities severely limited.
A recent wyzowl report indicates just how much the pandemic has shifted video consumption behaviors. According to the data, more than two-thirds of consumers say that the pandemic has changed the amount of video advertising content they watch. And of those two-thirds, 96 percent say they are now watching more video content than they were before.
These pandemic-related behavioral shifts are hardly lost on marketers. According to the same report, 91 percent of marketers say that video has become more important for brands. And, about 40 percent of marketers say that the pandemic has changed their plans for video advertising, with three quarters of those marketers saying that they now plan to use video more heavily.
Finally, of the marketers who use digital video, a staggering 96 percent say that they will either maintain or increase their video spending from last year. The writing on the wall is pretty clear: People want digital video content… and marketers know it.
Ample Opportunity to Connect
Of course, these statistics raise an important question: If people are watching more video than ever, exactly where are they watching it?
According to a recent WARC report, the increase in video consumption can be attributed at least partially to an increase in the use of connected TV devices. About 44 percent of consumers say that they are using their connected TV devices more than they were pre-pandemic.
Meanwhile, YouTube has seen a similarly large spike in interest, with 43 percent of consumers saying they are spending more time watching videos on the platform. And, among the 18-24 demographic, the video platform that’s seen the greatest increase in interest is TikTok.
The upshot of all of this is that, for marketers looking to produce more video content, there are plenty of opportunities to do it. These different platforms are all gaining in popularity, and they all present ways to engage with varied audience demographics or to invest in diverse types of creative content.
Indeed, to make the most of digital video, marketers will need to make some individualized, data-based decisions about where best to focus their efforts. One thing to keep in mind is that short-form video content continues to be highly influential; the rise in popularity of Instagram stories and TikTok videos confirms as much. Something else to consider is that the pandemic has actually democratized digital video in some exciting ways. Even major network news and talk shows rely more and more on simple smartphone videos, eschewing the more lavish production values of the pre-pandemic times.
What this means for marketers, as well as for small business owners, is that you can accomplish a great deal with videos that are fairly modest in scope. In fact, a short “talking head” video, product demo, Zoom interview, or unboxing footage might be ideal for connecting with audiences who increasingly look for authentic connection, and who would prefer to buy products and services from other human beings as opposed to faceless corporate entities.
Our Approach to Digital Video
As you consider your own digital video efforts for the coming year, we welcome you to build a strategy using the guidance of enCOMPASS Agency.
We have considerable experience helping our clients design, implement, and manage robust video advertising strategies, focusing on everything from connected TV applications to pre-roll and mid-roll YouTube ads. One thing that sets us apart is that we draw from hundreds of data sources to ensure unique, in-depth targeting options for each campaign, guaranteeing that you’re not investing just in creating good videos, but in getting those videos seen by the right people. And enCOMPASS helps shield our clients from spam as well as other unsafe, unwise, or otherwise low-quality impressions.
We’d love to tell you more about the benefits of video advertising, and about our unique approach. Feel free to reach out whenever you’d like to be seen.
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