Latest posts by Jay Dillon (see all)
- Which Social Media Platform Is Best For Your Business? (FB, Twitter, IG?) - February 8, 2016
- The Role of Social Media Manager in 2016 - February 1, 2016
- Why Placing Ads In Blogs Can Be A Negative - January 4, 2016
Video advertising is the latest marketing battleground on the internet.
Brands are showing a strong interest in using videos as an access channel for consumers. For inbound marketers it’s obvious that the big names on the web are battling to take or maintain the lead in video viewing.
As interest for video content increases at a tremendous scale, it’s important to keep in mind that “online” no longer just means “on a computer”. It can now mean on a smartphone, a tablet, or other connected device.
This article will talk about YouTube’s recent success stats divulged by Google and some information on the expenses of video content marketing to help you get on that video content bandwagon well informed.
Why Does Video Matter?
According to a recent Adobe Report, “people on the internet watched 38.2 billion free videos online in the second quarter of 2014, a remarkable 43% jump over the same quarter a year ago. Almost three-fifths of those videos were viewed on smartphones.” According to Google, YouTube watch time has jumped 60 percent.
Based on stats like these, what should your main marketing goals for video? I’d suggest it should be Mobile User Acquisition. If this isn’t already part of your marketing strategy, I recommend you include it.
When it comes to the big names battling for the video content crown, it has come down to Facebook vs YouTube (well, really Google because they bought YouTube for a mere $1.65 billion back in 2006, remember?). Facebook’s advantage is its massive user base, where users are using Facebook’s tools to share or see videos more and more. Google (YouTube), on the other hand, has an advantage because of its pioneering history which has led to the largest user base for video content to this day. And you might have already heard the factoid about YouTube being the second largest search engine on the planet.
If YouTube has been dominating since the days prior to mobilegeddon, imagine how it’s doing on mobile devices, for which the average viewing session is now more than 40 minutes. One thing seems to be evident, whereas YouTube seems to place more value on watch time, Facebook is placing priority on the number of videos streamed (sidenote: Facebook’s video streams have been growing like crazy, thanks to the autoplay videos that automatically play in users’ news feeds, if it autoplays for 3 seconds or more it’s counted as a view by FB).
Video Content Marketing Expenses
The number of views are not the only success factor nor the sole source to give hints about who’s winning or losing in user acquisition. It’s more about who can best profit from the success of video content. The thing about video is that it requires a larger investment of resources than most content. Plus, according to data provided by Google, the top advertisers for investment in YouTube are spending about 60% more than what they spent the previous year. This raises the bar for many marketers who are still testing waters in video content.
Clearly, big players like Facebook and YouTube (Google) are trying hard to dominate video viewing and it’s safe to say they’re investing billions of dollars in video advertising. It’s hard to place a number on the earnings of video content because Google has yet to release separate profit numbers specific to this type of content.
What is for sure though is that the marketing budgets for many brands have been allocating large portions to video marketing, and more and more brands are doing it. This rise in advertising investment for video across the board seems to reflect a profitable ROI.
How Can Small Businesses Compete?
Alas, do not stress, small businesses can get a foot in too. Here are a few quick tips:
- Time – Is it better to keep it short or go long in time? Depends. Longform videos have their niche in documentary films and how-to webinar types. When it comes to entertainment and comedy, shorter attention span comes into play.
- Know Your Audience – If you’re going to pay to push to certain demographics that fall under your targeting niche, make sure your videos are made for them.
- Mobile is a must – Make your videos mobile friendly. This platform is increasing by the day with video content.
According to Google’s Omid Kordestani, “YouTube reaches more 18 to 49 year olds in the U.S. than any cable network.” Now I know that’s not a number for Australia, but it does reflect an overall tendency in video content marketing.
Based on the above stats and numbers, I’d say YouTube is sprinting to the lead in video content viewership and marketing.