Win Over Audiences with Effective Finance Content Marketing
Learn how to define, collect and use zero-party data, first-party data, second-party data, and third-party data in your marketing strategy.
While short-form video is not a new tactic, it is becoming increasingly important. Online video consumption has been growing steadily year over year but was propelled by coronavirus and lockdowns. It is predicted that in 2021, the average person will spend 100 minutes per day watching online videos.
TikTok continues to dominate the social media landscape. To keep users on their sites, other platforms are offering similar features. Instagram is a prime example of this with its creation of Reels, a veritable clone of TikTok. The company also announced this year that they are “ no longer a photo-sharing app or a square photo-sharing app” and are pivoting to full-screen video, among other things.
Short-form videos are what consumers want to watch – whether on TikTok, Instagram Reels, YouTube Shorts, or Snapchat Spotlight. The social media giants know this and have shifted their algorithms to prioritize users who utilize these features. Keep in mind – each social media platform has different placement options and nuances.
Whether you’re using video on organic or paid social media, short-form video increasingly wins the day. One study found that attention spans last an average of eight seconds, so getting your brand and message across in an “elevator pitch” increasingly is becoming the norm. Seventy-three percent of people want to see “entertaining” videos on social media so your content needs to hook consumers immediately.
Consumers are exposed to over 5,000 ads daily. User-generated content has become crucial to break through the noisy digital landscape. One study found that 75% of consumers don’t accept advertisements as truth, but that 70% do trust other consumer’s opinions. Utilizing user-generated video content for organic or paid social media will help your brand become authentic and approachable to consumers.
One brand that uses video as a part of its marketing strategy well is GoPro. The company uses each social media platform for a different purpose, catering to the audience by placement. GoPro shares UGC photos and videos on Instagram, tutorials on YouTube, product announcements on Twitter, and connects with users on Facebook.
Video is more than an awareness tactic for paid social media efforts. It is crucial to include video at all stages of the marketing funnel with the shift in consumer behavior. Animoto surveyed 580 consumers, 93% of which said video is helpful when purchasing a product while 71% have purchased a product or service after watching a brand’s video on social media.
One study shows six-second awareness ads are just as effective as a 15-second video for a mid-funnel strategy. Another study found that 25% of TikTok users purchase or research a product after watching TikTok and 92% of users take action, e.g. liking/commenting, sharing, following, or purchasing. Video is now a full-funnel play and a necessary investment to build ROI.