"Cut" - it's a wrap! Video Marketing Trends for 2023
Who hasn't heard it before - the saying, "A picture is worth a thousand words." This famous metaphor highlights the added value of images over text. And how valuable is a video for a company then?
The importance of videos for marketing and social media has increased significantly in recent years and, at the latest since the boom of TikTok, the other platforms are also following suit strongly. In our article on social media trends for 2023, we picked up on the trending topic of video content - feel free to check back here to learn more about other trends as well.
Hootsuite took a closer look at the various platforms in 2022 and summarized the results here. Here's what we can take away for video content in marketing:
That the importance of video content has increased is also shown by the fact,
YouTube, with an average of 23.4 hours/month, and TikTok, with 22.9 hours/month, are the two platforms that are currently (as of October 2022) most used worldwide and whose content is consumed.
Approximately half of respondents (49.8%) say they spend most of their time online watching videos or streaming series.
The reach of TikTok Ads has increased by 14.6% in the past year. TikTok claimed to have 945 million users over the age of 18 last year and, accordingly, are part of the Ads' potential target audience.
In October 2022, Instagram Reel Ads (paid ads in video form) reached 758.5 million people.
Videos are important and their importance for marketing, among other things, is not flattening. On the contrary, content in video form should be on the agenda for marketers. But not all video is created equal, so let's take a look at the video marketing trends for 2023.
Video Marketing Trends
Going live via Instagram was a phenomenon that emerged a lot during the 2020 pandemic, among others. However, the importance of live videos has not decreased since then, but has continued to grow. The ability to interact directly with a person, a content creator, or even a company is what makes this video format so beloved. Even though video content is generally rated more positively than other forms of content, the engagement rate with live videos is higher: On Facebook, for example, live videos are viewed 3 times longer than videos that have been pre-shot and live content generates 6 times higher interaction rates.
A vlog, or video blog, is nothing new in the world of social media. Many influencers and content creators film their daily lives and edit videos from them, which can then be consumed by the community via TikTok or YouTube. The advantage of vlogs is that they feature the creator as the main character, giving viewers the opportunity to see the world from a different perspective - just like a movie or a good story. Vlogs can also be used well for corporate brand storytelling, as the classic "behind-the-scenes" look can make an employer seem attractive, and tutorials help potential customers learn and understand more about a product.
Social Media Stories
Social media stories haven't been around on various platforms since yesterday either, but their importance has increased: they're quick to consume, companies can make a personal connection through stories (unlike a blog, for example), and they show a company's brand personality. Social media Stories should show the unedited version of a company's daily life, while vlogs are also edited and cut. Stories make companies more approachable and can help build trust. With the option of integrating Q&As into stories, this video format is also more than useful for learning more about the target group and using the insights gained for marketing, product development and the like.
Videos without sound? Really? Sounds more than strange, but in the ad sector in particular, it's not only welcomed by the target group for video content, it's demanded. 80% of respondents say that they have a negative reaction when an ad video suddenly plays a loud sound. The reason for this is obvious: people use their smartphones everywhere, no matter where they are. So if, for example, the smartphone suddenly emits something loudly on the bus or train, the attention gained is usually unpleasant for the smartphone owner. So if, for example, story ads are the means of choice for a company, then these should also have no sound for videos and rather rely on subtitles. This is because people watch subtitled ads 12% longer than videos without subtitles.
UGC - this abbreviation stands for "User Generated Content" and refers to media content that was not created by the provider of a media channel, but by its users. In other words, the followers of a fashion company's Instagram account create content that is then shared via the fashion company's account. Consumers trust UGC content more - 60% say this form of content is more authentic than other content. And that's true for text-to-image posts as well as videos. You should be targeting this trend rather than fighting it - so if you're a company that partners with regular customers, you can engage them as brand ambassadors.
Video meets content strategy
Videos are important, super important even - but they're not enough. In 2023, companies and marketers will need accompanying marketing strategy and quality written content to back up what they see and thus convince them in the long run. So if you have videos on the agenda for marketing, you should also be working on the corresponding strategy for other forms of content.
Vlogs, Lives, Videos, Featured Videos, Reels and more - the importance of videos has increased and will continue to be important in the coming year. The forms of moving images should also be adapted in marketing and considered for content marketing strategy.
80% of respondents like videos better than text and research has shown that 88% of consumers have been persuaded by a video to buy a product or use a service. And what's left for us to say in conclusion? Camera on and "action."
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