THE SLOW, YET CONTINUOUS DECLINE OF TV ADVERTISING
Since the release of DSTV’s PVR decoder, the world, in local South African terms, of Television advertising changed drastically [some would say for the better, marketers on the other hand, might disagree]
Now all of a sudden we were handed a remote that gave us the ability to pause live tv. So we would pause it and either go take an extended bathroom break, check on the dinner or do whatever else we could think of to take up at least 1O minutes of our time because this meant that now we could fast forward through all of the annoying ad breaks to get back to the program we actually sat down to watch.
Obviously South Africa is a bit of a late bloomer when it comes to new technology, so while PVR was the most amazing thing that could have happened, the rest of the western world were enjoying high speed internet lines where they were able to stream their favorite shows and movies uninterrupted on Netflix and other online networks. This meant marketers no longer had a mass captive audience and they were forced to rethink their strategy.
THE RISE OF ONLINE MARKETING
Although television adverts are still extremely popular, Youtube, being the second largest search engine next to google, was the birthplace of online video marketing. Facebook and instagram following suit soon after. Unlike TV advertising, which casts a massive net over their audience hoping to catch a few unexpecting customers, Social media platforms have strong algorithms built into their marketing back end which allows businesses to select their exact target audience and get their adverts directly in front of the viewer which is extremely effective seeing as though it’s getting harder and harder for your voice to be heard nowadays.
“You start like everyone else, a voice amongst millions, uttering a word somewhat absurd with the assumption that you might just be heard” - Jack Harries [Famous Youtube personality]
THE STORYTELLING TECHNIQUE
Unlike the ‘good old days’ of Tv ad’s, our audience has become a lot more perceptive and judgemental about the content they consume. The internet, along with social media platforms, has given the viewer the power of choice. They like to feel like they are in charge of what they are looking at online. So if you are force feeding your audience with hard sell advertising, they are going to lose interest very quickly and even more so, they are going to lose their trust in your brand. They want to feel like what they are choosing to consume is beneficial to them personally. They can tell if all you are trying to get out of talking to them is a sale, they want to feel like you are genuine and that your brand stands for something else other than making money. They key is to tell a story they want to watch.
Check out our blog on ‘The Power of Storytelling’ to get a better idea on why you should be telling good stories.
WHY USE ONLINE VIDEO
Although i can go on for a while about why i believe online video is the be all and end all to the perfect marketing strategy, i know as humans, we all like to see a little proof in the pudding, so here are a list of facts to try convince you further.
- Video in email leads to a 2OO%-3OO% increase in click through rate.
- Including a video on your landing page can increase conversion by 8O%.
- Youtube reports that mobile video consumption increases by 1OO% every year.
- After watching a video, users are 64% more likely to buy a product online.
- 5O% of executives look for more information after seeing a video about the product/ service online.
- 87% of online marketers use video content.
- 96% of B2B organisations use video in their marketing campaigns with 73% of them reporting positive results on their ROI.
- 9O% of users say that watching a video online is helpful in their decision making.
- 92% of mobile users share video content with others.
- 75% of online viewers have interacted with an online marketing video this month.
These are just 1O facts out of the MANY facts about the power of online video.
For all you visual people (so pretty much all of you), there is a great infographic created by Hubspot on the statistics of video marketing that you can view here.
Online video is helping businesses reach their audience and achieve their goals much faster than traditional advertising. If you need more convincing on how you should incorporate online video into your marketing plan, check out our blog on “Why you need video in your marketing strategy 2O17”.
RGBO is a content production agency that uses predominantly video content to serve business needs as well as solve their problems. We are always more than willing to help you out with whatever your business marketing needs may be. Give us a shout and we will get back to you with a free online/ offline consultation.