According to Demand Metric’s most recent benchmark report entitled “The State of Video Marketing 2019,” more than 70% of respondents rate video as “important” or “very important” in regard to marketing content with 74% of them believing it to be “a key driver of top-of-funnel awareness and lead generation.” The rise of social media has no doubt helped feed society’s relevance on and confidence in video content, making video marketing a potentially lucrative investment for companies in 2020 when done on the right platforms at the right times and in the right ways. Indeed, it’s estimated that adults in the U.S. spend approximately 84 minutes each day watching online video content; that’s a lot of opportunity for businesses to engage consumers. Here’s what to anticipate in 2020:
The Video Market Will Become More Saturated in 2020
Marketers are smart people. Response to recent video marketing statistics will result in them making a more concentrated effort to produce meaningful video content. As a result, however, consumers will face a variety and volume of video messaging, making it harder for marketers and companies to engage them.
Customization Will Be Key
Data-driven insight will be necessary to ensure that the right content reaches the right people. As video messaging saturates the market, it will be harder for companies to differentiate themselves from the competition unless they truly set themselves apart from it in some way. Research from behavioral marketing platform firm SmarterHQ reveals that “72% of consumers will only engage with personalized marketing messages;” gone are the days of generic videos meant to appeal to the masses. Instead, marketers will need to personalize the video experience with interactive features and recommendations based on consumers’ individual wants and needs. This can be accomplished by combining web metrics and market research data to identify specific consumer segments along with their accompanying habits and preferences, making it easier for marketers to custom tailor the video experience for everyone.
More, Not Less, Will Be More
Finally, less is not more with videos. Notice this one on EB-1 requirements posted by Pollak, PLLC. Instead of being a cursory clip, it’s a more detailed presentation (nearly five minutes long) about how to obtain an employment-based green card. In 2020, we will see more videos like this and even longer. Despite what we’ve been conditioned to believe, our attention spans haven’t necessarily shrunk; we just have a lot more options nowadays. We need a reason to focus on any one thing for longer than a few seconds; otherwise, we’re off to one of the other million videos waiting in the wings!
If marketers want consumers to stay with them, they’re going to have to produce video content that’s valuable and entertaining…and probably longer than that of the competition!