According to the New York Times "The single most important trend to figure out on the internet is video."That fact is backed up by Cisco who states that in 2016, video accounted for 67% of all internet traffic and will account for 80% of all internet traffic by 2021.
According to e-marketer.com digital video is the fastest-growing category on mobile, on desktop and overall and video’s growth will outpace that of social.
Facebook believes that the more consumers have become acclimated to watching online video the more they have come to accept online video ads. Facebook says that the major driver for consumers and therefore ad revenue moving forward will be video and video advertising. According to The Wall Street Journal, Mark Zuckerberg Facebook CEO, predicted that "within five years or so, most of what people consume online will be video. The New York Times quotes Mr. Zuckerberg as saying “We see a world where video is first, with video at the heart of all of our apps and services,” The New York Times goes on to state that major social media companies have recognized that trend. "Other companies, like Twitter and Snapchat, have also said they will pursue this strategy, which has long been a mainstay of YouTube, Google’s powerhouse video site."
Axonn Research found seven in 10 people view brands in a more positive light after watching interesting video content from them. Google states that online video influences purchaser intent. Of people who watch branded content on their smartphones, 40% visited a store or website and 28% made a purchase online or in-store.
So how can local businesses use online video to reach local consumers? We have gathered a few ways you can put this powerful marketing tool to work for you.1. Increase your reach within targeted markets using OTT.
If you are currently advertising on local broadcast television, you can use online video impressions to increase your frequency within targeted markets. Over The Top or OTT advertising allows you to reach audiences who are streaming their favorite long-form shows or movies. OTT allows you to select the target audiences you want to see your ad and deliver your online video to just those audiences.
2. Take advantage of social media algorithms.
Social Media audiences react favorably to video advertising. Social media companies have taken notice and deliver more video ads to users based on their relevancy. Since social media algorithms favor video ads and video ads are not as crowded as other forms of social ads, you have the possibility of reaching greater audiences.
3. Experiment with Facebook Live.
Facebook Live is a feature that Facebook rolled out in the last year or so allowing users to shoot live videos on their mobile devices and air them simultaneously to their followers. The videos are then immediately archived to your Facebook page under your videos tab. Facebook Live gives you the ability to interact live with your followers in social media as well as the opportunity to easily enhance your Facebook page with more online video. Think of events at your business that might be fun to showcase live. Examples include - unveiling new products or inventory, special events, employee appreciation moments, customer appreciation event, doorbuster sale days, philanthropic events. One high profile use of Facebook Live this fall will be during New York Fashion Week. Many major fashion brands will be broadcasting their runway shows from New York's fashion week. This will give everyday fans and customers an inside peek to a what is typically an industry and celebrity driven event.
4. Showcase longer form videos on your own website & YouTube Channels.
Provide long form videos that go into more detail about your company, your team, your products or your services on your company website or YouTube Channel. Video gives them a chance to see and hear more than pictures and written words. Help customers learn more about your company or products and services. Often, you will find that well-crafted professional commercial video production is much less than you expect. Testimonials from your customers talking about their experiences with your business are a great start for creating your own online video content. Online videos on your own site can also help drive great search engine optimization. You can use shorter versions of these videos as online ads on media websites and social media.
Set your business apart from the crowd by jumping into online video. Now is a great time to start as we move into the holiday season and consumers start researching to make lots of purchasing decisions.