The rise of video content is largely attributed to COVID-19 as it has driven everyone indoors. Although video marketing started to be known years ago, its growth has accelerated at an amazing pace only recently. Video is poised to remain a top priority for marketers through 2022, and is likely to increase further.
The Phenomenal Rise of Video Marketing
Although the rise of video marketing has been evident for quite some time now, an estimate from Cisco predicts that 82% of the content created globally will be in the form of videos. The pandemic has only added fuel to the fire, and the rise of video marketing is probably the only good outcome from the devastating development that stunned the world into inactivity.
Did you know that the average American subscribes to more than one video streaming service? Nearly a quarter of American households now have a subscription to a streaming service since the pandemic broke out. And India is not far behind, with people wanting to subscribe to Amazon Prime, Netflix, and more.
This flurry of activity in promoting video content is not restricted to established video streaming companies or social media alone. Other smaller firms are adding to the momentum that has caught the whole world in a tsunami of growth, with TikTok tripling in size in just a matter of three to four years.
What Drives the Increase of Video Content?
1. Increase in demand for video
Several trends can be attributed to video’s rise globally, and one noticeable trend is the increase in demand for relatable content. Not only did the pandemic drive people indoors, but it also helped them introspect and project their authentic selves on video platforms, such as TikTok. Right from the work-from-home scenario to portrayals on public platforms, everything has a casual air about it today. Being relatable is the “in” thing, and that’s what’s driving more clicks and shares for video.
2. User-generated content
The most relatable content is probably user-generated content, and it’s not surprising that 92% of the consumers rely on organic user-generated content, and prefer it to traditional advertising. Today, even people who are not tech-savvy are creating videos and uploading them on TikTok and other video platforms. This probably answers the question, “Is video content becoming popular?”
3. Decline of traditional advertising
According to a report released on PRNewswire, there is a marked decline in cost-per-click (CPC) advertising, especially in areas affected by COVID-19. Although audiences spend more time online, they prefer authentic content. Compare this to the existing trends before the pandemic broke out, when leading personalities were always in the limelight, influencing large groups of people to follow them on social media. Today, micro-influencers are having a field day. No wonder most marketers today prefer to work with micro-influencers for their video content, not only to cut costs, but also to get guaranteed results.
What Are the Benefits of Video Content?
People who binge-watch on Netflix or Amazon Prime find solace from the now-famous Google research quote: “In times of uncertainty, digital video can be a wellspring of positivity.” It is not surprising that 79% of the video consumers in the United States responded to a Google survey, saying that streaming platforms gave them solace, and made them happy during these troubled times.
Adobe reports that there has been a rise in video completion rates over the past year, which is directly attributable to the persisting pandemic. It is a far cry from the scenario in early 2019 when there was a marked decline in video consumption. Today, 63% of video consumers say that they sit through a video from start to finish.
Video content has certainly benefited from the raging pandemic, but the same doesn’t apply to other forms of content. Google also states that it is easy to relate the way people are thinking to the types of video content they watch. Video content that is engaging helps you learn a lot of new skills.
Of course, there’s a flip side to the pandemic, and people have been depressed after reading a lot of negative headlines when it was at its worst. Fortunately, there’s also a lot of positive video content doing the rounds that helps negate what is known as “doom scrolling” or reading doomsday headlines. Video content has been helping people by giving them a dose of “digital detox,” which they badly need today. The number of people watching guided meditation videos has sharply increased since the outbreak of the pandemic.
Videos need not be about missiles poised at targets or the rattle of gunfire. Videos highlighting relatable content can empower viewers and give them hope. The future beckons the rise of video content, which is here to stay. The pandemic did do some good, after all.
The primary reason for the rise of video content is that most viewers prefer visual content, and videos are quite popular on social media. Take, for instance, tutorials; they are very popular among many target groups, be it a do-it-yourself (DIY) explainer video or the unboxing of a new product.
Video content engages the target audience better than text. Video helps you connect with your target audience on an emotional level. With this type of personalization, you can improve conversions, resulting in more sales and revenues. Moreover, your users turn into loyal, long-term customers, increasing the strength of your brand in the process.
While written content is still around, the rise of video marketing cannot be dismissed as a temporary phenomenon. Rather, the rise of video content can be attributed to the increasing popularity of short videos. It is not surprising that during 2020, the consumption of online video content skyrocketed by 96%, as per video marketing statistics.
Videos can instantly capture the audience’s attention, and getting them to watch a short video is pretty easy. Successful marketing through social media revolves around condensing information and presenting it as video content that is neither too short nor too lengthy and boring. We see a lot of videos being posted on social media, especially Facebook and Instagram, with many of them even going viral.