Digital Video is Taking Over: These 5 Data Points Prove It
Late last year, I wrote a post encouraging you to “Make Room For Mobile Video” and it seemed as it now would be a good time to see where your fellow marketers stand on digital video marketing specifically and content marketing more generally. If anything, I may have underestimated how quickly digital video would take over the world. Here are 5 data points to back that up:
- First, according to the Nieman Journalism Lab, Facebook predicts your News Feed will likely be ‘all video’ in five years. Nieman quotes Nicola Mendelsohn, Facebook’s vice president for Europe, the Middle East, and Africa, who says,
“An average of 100 million hours of video are watched on Facebook on mobile devices daily, Fortune reported. Facebook Live video has also been “a bigger, faster phenomenon” than the company expected, saying that Live videos get 10 times as many comments than other video.
“I just think if we look already, we’re seeing a year-on-year decline on text. We’re seeing a massive increase, as I’ve said, on both pictures and video…”
That’s worth emphasizing again: “…we’re seeing a year-on-year decline on text.” It’s only mid-2016 and text is beginning to fall by the wayside as far as Facebook is concerned. That’s a huge statement and one worth paying increased attention as you plan for next year.
- Meanwhile, Marketing Charts has some extraordinary data that underscores the phenomenon. In their study, “Traditional TV Viewing: What A Difference 5 Years Makes,” they lay out these important pieces of data:
“…reports are coming out suggesting that streaming video has supplanted linear TV as the dominant form of video consumption among youth:
- A survey from Deloitte finds 19-25-year-olds estimating that they spend 39% of their TV content time watching streaming video as opposed to 29% watching live programming, with streaming (31%) also ahead of live viewing (28%) among 26-32-year-olds; and
- A Defy Media study similarly suggests that 13-24-year-olds are spending more time with “free” and subscription digital video than with TV.”
Marketing Charts goes on to show, “…weekly streaming hours more than tripled between Q4 2013 and Q4 2015.” As above, let’s emphasize that number: “…streaming hours more than tripled” in just a couple of years.
- While it might seem like this is only a reality in the B2C world, Marketing Charts also shows that “B2B Content Marketers See Bigger Role Coming For Social and Video.” Their key finding:
“…this year, just 13% see emailers as being the most indispensable format. Overtaking it will be videos, which 16% of respondents see as indispensable, almost double the share (9%) who found videos to be most effective for them last year.”
Again, that’s a massive increase in just a single year.
- For a real-world look at what some marketers are doing, take a look at Jason Miller’s write-up over on LinkedIn, “A B2B Marketer Spends a Month with Snapchat”. While he’s not sure the app is quite ready for B2B marketers, he also says,
“I wouldn’t be surprised if, as GaryVee predicts, Snapchat matures in the next couple of years to become the next YouTube.”
- So, what can you do about this? Well, MarketingProfs recommends some pointers for “How a Simple Story Can Help You Win Your Prospect’s Trust” that applies to any content marketing. The key takeaway:
“”The best way to build rapport is to empathize with your audience’s pain. If you could, you’d sit down with the person for a one-on-one and gain personal knowledge of her situation: Why does she feel that way?
You’d learn her plight and understand her situation.
Empathy goes a long way towards making your content marketing work, regardless of format.
- You might also want to reference “A Quick Postcard from the Future of Digital”, this podcast episode that looks at “How to Keep Up with Technology as a Marketer: The Quick and Dirty Guide,” and “The New Digital Strategy Playbook Part 1” and “Part 2” that we’ve pulled together for you. I’d also recommend planning for more video and images as you start putting together your 2017 budget. Because, if we’ve learned one thing about digital over the years, it’s that once a trend starts moving, it moves fast. And when it comes to online video, it’s moving.
If you want learn even more about how your customers’ changing behavior shapes e-commerce and marketing, be sure and register to receive a special report I’ve produced in conjunction with hotel marketing firm Vizergy, “Digital Hotel Marketing in a Multiscreen World.” While it’s targeted specifically at hotel and resort marketers, the lessons apply to just about any business. You can get your free copy of the report here.
You can also check out these slides and video from my recent webinar, “Digital Marketing Directions: Three Key Trends Driving Your Marketing Next Year”:
(And, yes… you can hire me to speak at your next event, too).
Finally, you might enjoy some of these past posts from Thinks to help you build your e-commerce strategy and your digital success:
- 6 Mobile Commerce and Strategy Insights: E-commerce Link Digest
- Content is Still the King
- The Digital Strategy Myth
- Why Mobile Payments Will Rule
- Driving Seamless Experiences in 2016 (Thinks Out Loud Episode 149)
- Mobile is So Much Bigger Than You Think (Thinks Out Loud Episode 140)
- It’s Not “Mobile First.” It’s “Customer First.”
- 8 Killer Entries About Improving E-commerce Experience: E-commerce Link Digest
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