2015 is the year of video! We take a look at the exciting trends shaping the future of digital video content and what this means for businesses and marketers.
By Sophie Grainge
1. Mobile video viewing continues to grow
Look around and it’s pretty easy to see most people glued to their mobile device. On public transport, waiting for coffee, walking along the street – pretty much anywhere and anytime. But just what are people reading and watching so intently?
According to a recent survey by eMarketer they’re most likely watching video content – particularly ‘Millennials’ – those aged 18-34. According to the research, over 20% of video views are happening on mobile devices and that trend is quickly growing.
This trend may not come as a surprise, but it does highlight how prevalent mobile-centric video content is now and into the future. And it’s certainly an important method to consider when planning your communication messages in 2015.
2. ‘Shoppable’ videos – the way to shop in 2015
‘Shoppable’ videos are set to hit Australia in a big way next year. Shoppable videos are online videos that allow audiences to shop products whilst watching videos, also know as ‘video commerce.’
How does it work? As products appear in the video, a pop-up window of that product appears along side the video for a few seconds, allowing you to see the price of the item and add it to your shopping basket. Other versions allow you to hover your mouse over the video and click items of interest without interrupting the video.
International brands such as Marks and Spencer, Target and Gucci are leading the way in this technology with some outstanding results. M&S have seen an average increase in online sales by 23% from shoppable video content. In Australia, Michael Hill and David Jones are the first brands to experiment with this technology.
While you may not be a retail business – it’s the interactive technology that has the potential to connect with your customers in a unique and powerful way.
3. Interactive video- the single most powerful communication tool in 2015
In a time of ‘unprecedented visual saturation’ it can be tough for brands to cut through the clutter. And when it comes to video, leading American business magazine Forbes suggests it’s even tougher to get people to watch a video through to completion. Creating targeted, interactive video content will be the key to keeping audiences engaged with video in 2015.
According to Forbes “interactive video is poised to become the single most powerful tool companies have to communicate with customers and demonstrate true ROI.”
Building video into an interactive presentation or experience is one way organizations are connecting meaningfully with audiences. ‘Customer experience rooms’ are a popular trend among businesses aiming to be more customer-centric. Through the use of life size prints, audio excerpts from customer phone conversations and video interviews – organizations are helping employees understand the current customer experience their company delivers through a multi-channel experience.
4. Marketing budgets make way for original digital video content
Recognizing the growth and influence of original digital video content, brands are increasingly allocating budget to branded digital content production and moving funds away from traditional TV advertising. According to an IAB study, three out of four brand marketers and advertising agency executives said they expect original video programming to be as important as TV programming within the next three to five years.
Branded content is a relatively new form of advertising that blurs conventional distinctions between what constitutes advertising and what constitutes entertainment. Branded content is essentially a fusion of the two into one product intended to be distributed as entertainment content, albeit with a highly branded quality.
The move away from Television advertising also relates to analytics. Digital content allows marketers to measure everything – something Television simply cannot do as effectively and accurately. Many brands like Red Bull and GE have embraced this form of media and Australian brands are set produce more branded video content than ever before in 2015.
Here’s one of our favourite branded videos for 2014. From social media management company, Hootsuite this video is a beautifully executed parody of popular TV series Game of Thrones – enjoy!
5. Aussies continue love for video-on-demand
The streaming video-on-demand (SVOD) market is well established in the US and is set to take off in Australia with the arrival of US giant Netflix in March 2015. According to consumer group Choice, 684,000 Australian households already pay for video on demand content through overseas subscriptions with 340,000 of those subscribed to US Netflix through virtual private network (VPN).
SVOD services do exist in Australia, the most popular (and similar to Netflix) is Quickflix. Other platforms to join the market are Foxtel Presto and it’s believed Network Nine, Seven and Ten are looking to launch Netflix rivals.
Internet Protocol TV (IPTV) is another way Aussies get video on demand. IPTV is a service that uses the internet or a local area network (LAN) to deliver TV services, rather than via cable, terrestrial or satellite. Think YouTube, ABC iview, Tenplay etc.
On demand content is an extremely powerful tool for businesses. On-demand audiences are captive and hungry for quality content. Platforms like YouTube, allow organsiations to have their own dedicated ‘channel’ that audiences can subscribe to. Brands that cultivate their channels and think like broadcasters will build far closer relationships with customers in 2015.