Since the coronavirus outbreak digital consumption has soared in popularity. It’s no wonder why after we underwent a nationwide lockdown and have been implementing social distancing measures ever since. Digital channels have become the only place where we can connect with other people as we did pre-pandemic.
This brings us to the question then of how does this impact video marketing? Has COVID-19 drastically affected the industry and if so, in what ways has it changed?
So, how exactly has the coronavirus pandemic impacted the video production industry?
Well, since the pandemic, 91% of marketers feel video has become more important for their brand. A further 74% of these marketers said they are likely to use video content going forward compared to 26% who thought it was unlikely considering the circumstances.
Budgets have also understandably been impacted by the pandemic with around 60% of marketers claiming they expect a decrease in their own budgets for 2021. It's not all doom and gloom here though, 70% of those expect a higher video marketing budget compared to 30% expecting it to be lowered.
Research shows that 80% of consumers have watched more content since the coronavirus outbreak than they did before. The interest and demand for fresh content has undoubtedly increased since we have experienced COVID-19 measures.
Not only has general consumption increased, it is clear that video content is specifically what is in demand by consumers. By 2022 it is estimated that 82% of all content creation will be video.
Along with consumption and demand increase, watch time is also predicted to rise by the end of the year. By the end of 2020, the average person will watch 100 minutes of content per day.
The statistics above are all positive indicators for the video industry and you may be asking yourself how you and your business can benefit from this boost in numbers. Well, we’ve laid out a few pointers below so you can get the most out of your video content.
With the negative financial impact of COVID-19, neither you nor your customers can afford to waste time. Your video needs a clear goal that it sticks to throughout its run time, otherwise your customers will simply switch off.
Make every second of content count and don’t overstay your welcome. We have a guide to understanding appropriate video lengths should you be unsure.
This couples perfectly with having a clear goal. Ensure that the purpose of your video is always at the forefront. There is quite the clutter of similar content at the moment regarding COVID-19 so be sure to make yours as unique as possible.
A recent study showed that 43% of consumers thought the coronavirus message they were receiving was too similar. What this really shows is that many advertisers are going down the same route when they address coronavirus within their business. Don’t be afraid to go against the grain.
As we touched upon in the previous point, don’t be scared of going against the crowd and doing something different. The statistic above proves that audiences are craving new content right now.
The best way to think creatively about your video is to take a closer look at your own brand. What do you want your brand to say to consumers during this pandemic? How do you want to be perceived digitally to people who’ve never encountered your brand before?
You don’t need to be a huge company to produce a successful video. Creativity and originality can’t simply be bought.
Times are undoubtedly tough for businesses and consumers alike. There’s no escaping that. You may not have thousands to spend on video content and that’s fine. There’s plenty that you can achieve even with a small budget.
Social media is such an opportune place that even phone footage can go viral if the idea behind the content was original. We now have multiple platforms and a number of posting methods (stories, live stream etc.) so there is plenty of opportunity for creators of all sizes to reap the benefits of video.
Whichever avenue you choose to go down for your content creation, just make sure that it's compatible. Again, it's worth remembering the purpose and goal of the video. Where is your content going to be posted? What are the conventions of that platform?
Whatever the preference, just ensure that your video content is mobile friendly. Mobile consumption has grown massively over the past few years with 55% of people now receiving their news via their smartphone. It has grown far too large to ignore.
It goes without saying that the coronavirus pandemic has impacted pretty much every industry in some way. The digital industry, and particularly video marketing in general, are likely to continue growing due to the restrictions the government has implemented.
We understand there’s a lot of uncertainty right now surrounding the future but it doesn’t have to be all doom and gloom for your business. Following the statistics and steps we have laid out for you will help you benefit from video marketing and hopefully provide some comfort in these dark times.
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