If a picture is worth a thousand words, what’s a video worth?You may think that’s a rhetorical question but according to Dr. James McQuivery at Forrester Research, video is worth 1.8 million words. That’s how powerful a tool video can be when attempting to inform, engage, entertain, and influence people. Nearly two-thirds of marketers already say that video is a very or extremely important part of their marketing strategy.That’s the state of video today. If you’re wondering about the future, here a few things we see on the horizon.
Discovery will continue to be one of the biggest concerns for marketers.On YouTube alone, more than 500 hours of video are uploaded every minute of every day. If you did nothing but watch 24/7, it would take 82 hours to see all of the video uploaded just from today. Is it any wonder much of what gets produced never gets seen by more than a handful of people?Content marketing strategies for video marketing will need to be heavily focused on SEO best practices to aid discovery. It doesn’t matter how great your video is if users can’t find it easily.
The future of video marketing will be about delivering messages seamlessly across different screens. Whether a consumer is viewing a video on their smartphone, computer, TV, or using a streaming service, videos will need to be tightly attuned to consumer choice.
While marketers have been targeting niche audiences with video, the next phase will be able hyper-targeting based on personalization. AI-enhanced algorithms will not only help serve the most relevant videos to audiences, but they will be able to personalize at scale.Rather than producing one generic video to serve broad audiences, marketers will be able to create videos that allow for automated personalization on the fly. We’ve already seen algorithms that use first-party data to deliver videos that reference users by name.
As platforms evolve, so will video production. Marketers will continue to experiment with different forms, formats, and platforms. Filter, overlays, and video production tools have been simpler to create and use.Augmented reality (AR) and virtual reality (VR) are expected to grow rapidly. The AR/VR market grew 26% in 2020 and is expected to grow by $125 billion between now and 2024. AR/VR will move from experimentation to mainstream.
Look for interactive experiences to also flourish online. Rather than just being a passive viewing experience, users will be able to interact with video content in new and exciting ways. Clicking, touching, or swiping can reveal additional product information, buy now options, or take users to related content.When playing a video, users may be able to branch off in multiple paths to make videos more relevant to their personal interests.
In 2021, live streaming is predicted to be a $70 billion industry of its own. Live webinars, Q&A sessions, live demos provide an experience on-demand videos can’t deliver. Live videos can go off in different directions based on user interaction or questions.Giving users a look behind the curtain in a live format create spontaneous moments that would otherwise not be possible. More authentic interactions occur, which is perhaps why people tend to watch live video presentations three times longer than recorded ones.
Increases in streaming service adoption and Connected TVs will lead to more programmatic buying and placement of video. Already programmatic marketplaces have seen a 200% increase in streaming and Connected TV buying.
While the future of video continues to evolve, some things haven’t changed. Serving relevant content to interested consumers at the right place and time is the key to optimizing its impact. At 20North Marketing, we know how to create and place content that engages audiences. As a full-service digital marketing agency, 20North focuses on growing client businesses through data-driven and multi-channel digital strategies.Get in touch with 20North today and let us show you how we can help grow your business.