Breakthroughs in video marketing in 2014
by Ewa Tkaczyk, business consultant at Gemius
Success of the year
Video conquering new territories and improving effectiveness of sales and marketing efforts
Since 46 per cent of internet users who saw a video ad online have taken an action afterwards and are 64 per cent more likely to purchase a product, video has become the new standard in product presentation on retailers’ websites, listings such as real estate, email marketing, company’s presentation, tutorials, “how to…” and video case studies.
For example, it is noted that by including a video in an introductory email, you can reduce the number of opt-outs by 75 per cent, according to Eloqua (automated email marketing provider).
Event of the year
Online video shifts towards the programmatic approach
Video is without a doubt one of the key driving factors for online advertising in Europe. As this format becomes the standard and more advertisers include video into their online media strategy, the need for precise targeting and measurement arises. Therefore, adoption of programmatic video has become a must. Publishers are experimenting with video ad exchanges and have already made video inventory available to advertisers on a programmatic basis. The share of programmatic in the total online video in the Big Five of the European markets (the UK, France, Germany, Italy, Spain) is predicted to grow from 12 per cent in 2013 to around 19 per cent this year and reach over 33 per cent by 2017.
Personality of the year
It’s all about engagement
This year’s heroes are content marketers who put strong emphasis on video in their communication strategy. There are over 100 million internet users watching video every day. According to Forrester Research, the value of one minute of video is worth 1.8 million words. To achieve similar impact to one minute of video with text, one should spent 150 days writing and producing approximately 3600 web pages.
All marketers evaluating ROI on their marketing activities should reconsider where their focus should be.
Trend of the year
Social video with micro-video format is now booming in platforms such as Vine, Instagram, Keek, Twitter, Facebook, Tumblr. The popularity of this trend came mainly from its fun, accessible and mobile friendly form. Users are drawn to micro-video as there is smaller commitment needed and therefore they are happy to watch and share this type of content. This was already widely exploited by most innovative companies like Nabisco with its #OreoSnackHacks, Burberry or Zappos to build communities and engage emotions about brands.
Prediction for 2015
First of all, consumption of video content online will grow significantly. By 2017, video is predicted to account for about 70 per cent of all consumer internet traffic. In the online ad world, all next year will also see further adoption of programmatic video and growth of video content in social channels. Moreover, the usage of big data in video will expand, allowing not only to purchase programmatically, but also to present personalized, dynamically generated online video ads.
That is why, while thinking about how to be in line with video communication to this trend, it is important to create content that fits different channels and platforms and is adjusted in length, size and message. Every company will soon become a media company, since the focus is on delivering most relevant and engaging content and video is most powerful and fast-growing of all formats.