Video is fast becoming one of the most popular marketing channels for brands and consumers alike. But while some brands may not feel that video is a useful platform for them, the figures suggest that they should be taking it very seriously indeed; in fact, a recent study reported on the Small Biz Trends website suggests that video is essential in order to succeed in the modern marketing world.
The Social Video Forecast for 2016 is a survey of small business owners and professional marketers, conducted by Animoto, a cloud-based video creation service. It is compiled of responses from 1,000 professional marketers and 1,000 small- and medium-sized business (SMB) owners. Here are some of the key takeaways from the research:
Video becoming a priority
Video is clearly a priority for the individuals questioned, with a respective 84% of marketers and 55% of business owners having produced or commissioned video content within the last 12 months. The majority (55%) feel that video is a ‘must,’ and that video has become the marketing skill they seek above all other others when hiring a new candidate – including email, design and written communications.
With better returns on video investments than ever, and 76.5% of all respondents seeing results from video marketing, marketers and businesses are planning to invest more in this versatile medium. According to the findings, nearly two-thirds of marketers plan to use video in their upcoming campaigns, increasing investment in video creation, its promotion on social channels, and the talent needed to support video campaigns.
As Brad Jefferson, CEO of Animoto explains, this shift “is a testament to the growing ease and affordability of video distribution on social media platforms, as well as consumers’ inclination towards video content.”
Dominance of Facebook
The report found that Facebook continues to dominate the market for the sharing and distribution of video content, generating 8.4 times more impact than any other channel. It also fared well in terms of results, with 62.2% of respondents saying it is the easiest platform for determining overall success. However, newer channels such as Instagram and Snapchat are vying for marketers’ attention and are becoming increasingly popular with consumers.
YouTube still important
YouTube is still a key channel for video, and seems to be growing in popularity among SMB owners; more than a quarter (26.4%) of marketers and nearly one in five (18.5%) of SMB owners plan to spend money on YouTube advertising within the next 12 months. It is also the channel expected to see the most growth in paid video promotion by SMB owners over the coming year.
Marketers leading the mobile charge
The findings suggest that marketers are paving the way for mobile, compared to SMB owners. Instagram was cited as the most impactful mobile-only social platform by all repsondents, but more marketers (53.4%) view Instagram as important than SMB owners (42.1%). What’s more, they are 1.5x more willing to spend more on Instagram videos over the next 12 months.
Worryingly, one in four marketers and SMB owners reported that they felt ‘behind’ when it comes to video marketing. If you need help with your video marketing strategy, contact Spot Digital today.