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We've seen many industries disrupted over the past decade, especially with the advent of social media. The latest industry is the video production industry. Latest stats show that 90 per cent of all internet traffic will be video based in 2019.
This has serious content implications for brands and the film production industry has to transform to embrace this need as hot new video shops emerge and agencies - digital and social media - establish their own video content production units.
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Video content has been on the rise since smartphones upgraded their cameras and social media channels started prioritising video, as demand by consumers increased for visual content. Facebook Live, YouTube channels and Insta-Stories are now being used by mainstream media organisations; brands; and individuals to broadcast their products/services/random thoughts.
And everyone with a phone is a broadcaster today, which meant that media channels had to start including first person video and eyewitness accounts in content. Now brands are heading the same way as any social media interaction is amplified by the addition of video content. Where the disruption comes for video production companies, is that brands need fast content, instant content and a continuous flow of content.
Jodene Shaer, head strategist of social media engagement specialist, Chat Factory, had this comment: Video content has exploded into the forefront of marketing strategies, and 2018 has kicked off with a taste of the impact it will have for the future of social and digital marketing. Driven by consumer demand, marketers are reporting an increase in ROI and are seeing the public engage with their pages for longer.
With features including Insta-Stories and Facebook Live, the rise of native content from brands is assisting in creating a more authentic and accessible connection with their consumers, which will continue to drive the popularity of live and video content by both marketers and consumers.
Insta-videos trend
This means that video production houses and videographers have to hone their skills to produce shorter insta-videos - at a greatly reduced cost. We're talking about the rise of hot new video production shops who charge R1000 a video and a day's turnaround; as opposed to R10 000 a video and a month's turnaround. And we can talk about quality, but civilians are posting videos every day on Instagram and YouTube and receiving millions of likes, despite the quality.
You have to go where the audience is and that audience right now has an insatiable need for video content. The key, according to the experts, is to marry high quality with agility - being able to be more efficient without necessarily compromising quality, but being able to meet brand and business needs. It will require faster turnaround, new techniques and the industry needing to transform radically to meet brand and customer demand for instant video.
The stats tell a story
Have a look at the stats being lobbied about out there in the industry by creative industry heavyweights:
90 per cent of all internet traffic will be video based in 2019. Currently that figure is 74 per cent. (Source: Cisco).
50 million people use Instagram Stories.
92 per cent of mobile viewers share videos.
People are 85 per cent more likely to buy a product after viewing a product video (Source: G&G Digital).
Mobile video increased by 35 per cent, whereas desktop and TV viewing only increased by 2 per cent in 2017 (Source: Halo).
Mobile video is forecast to grow by 25 per cent in 2018 and 29 per cent in 2019.
Google in February launched its own AMP stories format to compete with Snapchat and Instagram, with image-driven news articles aimed at mobile phone and tablet users.
Facebook's launch of its six second ads have driven a demand for video advertising.
Locally, telecommunications brands are encouraging consumers to consume and create more video, by reducing data costs: MTN Shortz platform allows local-content providers to distribute their content to the mobile operator's customers; Telkom has reduced data costs and introduced its LIT service to increase streaming; and Vodacom's Video Play app, allows customers to watch more video.
Images, videos and graphics help get readers' attention as quickly as possible and keep them engaged through immersive and easily consumable visual information, says Rudy Galfi, responsible for driving Google's AMP stories.
Visual marketing, in the form of photography and video is no longer a nice-to-have for brands, it's a must have, says G&G Digital: When people hear information, they're likely to remember only 10 per cent of that information three days later. If an image is paired with that same information, people retained 65 per cent of the information three days later.
New kids on the block
G&G Digital officially launched photography and videographic services for clients in February. Video is the most powerful engager in a brand's arsenal. It ignites emotions, builds trust and doubles exposure time. Videos can easily explain complex concepts and is increasingly preferred over reading. Sharing product videos and how-to tutorials on social media will increase reach and support the sales process, said Desiree Gullan, G&G Digital executive creative director.
CBR Marketing Solutions boosted its stable of digital offerings with the launch of a new video production department, CBR Productions, earlier this year. It is headed by young film duo, Chace Geyer and Devin Risely. The reason? Video is one of the biggest growth areas in digital media in 2017, with Adobe reporting that 51.9 per cent of marketing professionals worldwide name video as the type of content with the best ROI, said CBR MD, Graig Munitz.
Brands need to show a more
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