In our Social Media Trends Report, we highlighted that video content is king. Well, that trend is not just across social media, but across most digital channels: programmatic video, Connected TV, YouTube, programmatic out of home, etc. To capitalize on this, brands must approach video marketing with a strategic, omnichannel approach to reach target audiences wherever they are most engaged.
How Have Trends In Video Consumption And Ad Spend Changed?
- Around 84% of consumer internet traffic is on video content
- 92.1% of the global population consumes digital video weekly
- Mobile video consumption has risen by 100% YoY
- 2023 Connected TV ad spend is projected to increase from $18.89B in 2022 to $23.9B
Social Media Is An Untapped Market For Video Advertising
As a consumer, it feels like videos are everywhere. But as a marketer, video continues to be underutilized. In fact, across Facebook, Instagram and Twitter, video content comprises only 14%, 11%, and 5% of each network’s content, respectively. This is largely due to creative costs and misunderstanding about the ROI video offers.
Social Media Video Marketing Trends For 2023
Social media video advertising spend is continuing to increase. Video ads are expected to account for nearly 35% of social ad spend in 2023.
Digital channels overall are set to exceed 60% of global ad spend. Since half of social media users prefer video over other types of content and 85% of social media users want more videos from brands, the use of video in social media has never been more important.
Ready to tap into the opportune video advertising market? Here are four tips for high-performing social video content marketing.
1) Understand How Social Platforms Are Used
It’s important to keep in mind that social sites are used for different purposes. For example, Instagram is the top platform for viewing photos, Facebook is used most for sharing content, and LinkedIn is used mostly for professional networking. Consider how your brand and your creative messaging fits into the user experience on each platform.
2) Lean Into Platform Prioritizations
Understanding which formats different platforms prioritize to optimize your ad types for maximum visibility. For example, Instagram stated they are going to “double-down on [their] focus on video and consolidate all video formats around Reels” as they try to keep pace with TikTok. Knowing this, Instagram Reels and Facebook overlay ads in Reels should be utilized for paid media marketing.
3) Keep It Short And Simple
Videos must be short and to the point as consumers’ attention spans are ever-shortening. According to Vidyard, 60% of all online videos in 2020 were under two minutes long. In 2022, 58% of users indicated that they will watch the entirety of a business’s video if it’s less than 60 seconds long. Even six second advertisements that quickly showcase the brand’s value drive consumer consideration.
4) Always Use Captions
Videos with captions receive 40% more views and make viewers 80% more likely to watch until the end. We should never exclude audiences who are deaf or hard of hearing. Accessibility is key for video across all channels.
So, Why Is Digital Video Advertising So Effective?
Video is an impactful medium in the art of storytelling, but there’s a deeper neurological reason that compels us to consume. According to research, the brain processes images 60,000 times faster than text. When you consider we can only process five words per second, and our attention span is roughly eight seconds long, it’s easy to understand the science behind video’s growing popularity.
In fact, four times as many consumers would prefer to watch a video, rather than read about the same subject. And yes, it’s ironic that I’m writing about this topic.
Why You Should Incorporate Social Media Video Into An Agnostic Video Strategy
Despite social media’s massive popularity, putting all your efforts into Facebook video may cause your brand to miss out. Not everyone is active on social media and audiences are fragmented across many disparate social platforms. This is why we encourage our brands to incorporate both programmatic and social channels into an agnostic video advertising strategy. This ensures they are delivering this high-impact creative to their audiences regardless of where they are spending time.
What Are The Benefits Of An Agnostic Video Marketing Strategy?
- Ability to repurpose video advertising content across channels
- Greater audience reach by not excluding certain channels
- Improve frequency by retargeting across channels
- More accurate tracking and measurement capabilities
Written by Julia Wold, Director of Operations and Anissa Reko, Senior Social Media Specialist
Additional Reading
3 Key Elements for Better Performing Video Content
Why Short Form Video is Critical For Your Brand’s Success
Creating Strategic Opportunities With Connected TV Advertising
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