As we head into 2015, did 2014 see the boom in video we all expected and how is video predicted to trend in 2015?
The answer to the first question is invariably “Yes”. In 2014, many businesses discovered the power of videos and have used them to propel their venture forward. This is particularly true during the World Cup season, when lots of big brands turned to video to advertise their products and/or show their support for charities. Video metrics company Unruly, which analyzed the sharing of video advertisement on Facebook, Twitter, and other sites, noted that the speed of sharing videos grew twice as much since 2013. They also noticed that 42 percent of the shares occurred during the first three days after the World Cup campaign was launched.
2014 was also the year when the Ice Bucket Challenge was born and gained lots of attention. Starting as a small-scale marketing effort by Charity ALS, the challenge quickly drew the attention of celebrities, tech magnates, and even politicians, all of whom used videos to show that they completed the task. The videos were then liked, shared, and commented on by people on social media; in fact, according to Facebook’s calculations, the Ice Bucket Challenge videos reached more than 440 million people between June and August 2014 and were viewed 10 billion times.
All of these show that video indeed boomed in 2014. The question now is this: will it still be a popular format in 2015?
The answer seems to be a big “Yes”. This comes from the fact that consumers show no sign of stopping when it comes to watching, sharing, and commenting on videos. YouTube, for example, had 167,848,349 unique visitors in June 2014, with 500 years’ worth of YouTube videos being viewed on Facebook per day and 700 YouTube videos being shared on Twitter per minute. These numbers are already impressive, but they can become even more mind-blowing since they’re expected to grow in 2015 and beyond as more and more people watch videos.
The trending of video won’t even stop in 2015. According to multinational IT company Cisco, video will make up 69 percent of consumer internet traffic in 2017 and, by then, video-on-demand will almost triple. Even marketers agree: according to a survey by Nielsen, more than 60 percent of marketers are expecting to see that videos will become a huge part of their campaigns in the future.
With these statistics in mind, it’s easy to see that businesses who don’t invest in videos will soon be left behind by their competitors. This is particularly true if their target audience are teenagers, young adults, and middle-aged people who are tech-savvy and have learned to incorporate videos in their entertainment and shopping experiences. By refusing to create unique and compelling videos for their business, these entrepreneurs will run the risk of losing a sizable portion of their marketing share and becoming branded as “The Company Who Couldn’t Keep Up”.
So, if you own or manage a business, don’t let yourself get left behind. Invest in high-quality and professional-looking marketing videos and get ready to dominate in 2015.