YouTube, a modern day director’s heaven where 100 hours of videos are uploaded onto the site every minute according to statistics released by the video sharing platform. An impressive figure, it’s only the first of many:
– Over 1 billion YouTube visitors each month;
– Each month, over 6 billion hours of videos are watched;
– Every day, millions of subscriptions take place and the number of daily subscriptions has risen by 4 times since the previous year (based on when the YouTube report was released).
Founded in 2005, it’s clear YouTube has rapidly grown its user base and is setting an example for many video hosting sites to follow. Clearly this is a fantastic opportunity, particularly for brands, which has encouraged a surge in popularity of content marketing. The saying, “A picture paints a thousand words”, can be amplified in this example and researchers from Forrester Research noted in 2009, one video can be worth 1.8 million words. Videos have therefore become a crucial medium for content marketing for businesses of all sizes, however consistently creating interesting and valuable content across a variety of platforms (for example social media) can produce a stronger effect overall.
Before the launch of these video hosting platforms, the process would be first to develop a short video before purchasing an advertising slot on a TV channel to release to millions of viewers. However, with the development of so many products and services, an increase in customer fragmentation is clear, thus making it easier as consumers to filter/ignore marketing messages that do not appeal or are irrelevant to us. It is therefore now a vital action to capture the interests of relevant markets in order to enhance the effectiveness of marketing campaigns. This may be a less costly decision compared to marketing to mass markets, such as an advert for subscriptions to a knitting magazine where teenagers may have already ‘switched off’ their concentration and interest in the duration of the advert.
Arguably a solution to capture the escaping interest and attention of newly defined markets, content marketing has been identified as the direction we’re heading towards. It’s clear we cannot ignore increasing customer fragmentation, even with direct marketing, many brands are working hard to capture the right market with the right communications at the right time.
So you’ve found an amazing blog, YouTube channel or newsletter, you’re more likely to stick to it because you find it is relevant to your wants, needs and interests. You’re consistently getting something which appeals and is right for you, so you decide to come back. This is what marketers are trying to achieve; producing creative content which is valuable to consumers (whilst adding to customers’ intelligence) in the hope of achieving loyalty and return custom.
This can be considered as an opportunity for brands to give something back, and not just through corporate social responsibilities. On a positive note, this allows brands to get creative with their ideas and content they give to consumers. In modern marketing in a competitive environment, brands cannot compete simply through providing a strong product or service only, however must work on creating a meaningful and powerful relationship and connection with consumers which is more difficult to be broken by competitors.
Cisco predicts Internet video streaming and downloads will grow to 76% of all consumer Internet traffic, indicating that using videos for content marketing purposes is likely to stay both now and in the future.
Featured Image: SumAll