As the Internet becomes an increasingly visual medium, video marketing is seeing a surge in popularity.
Consumers who want to make informed purchasing decisions are hungry for video content.
According to a Google/Ipsos survey, nearly half of online shoppers look for videos about a product or service before they make a purchase. What's more, shoppers who watch demonstration videos are 1.8 times more likely to buy the product in question.
It's for these reasons that companies using video marketing have a 27 percent higher clickthrough rate, and a 34 percent higher conversion rate, than companies that don't.
A number of exciting new developments in technology and consumer tastes have made the future of video marketing look brighter than ever. Below, we'll talk about the top 4 trends that we anticipate seeing for video marketing in 2019.
1. Closer integration between video and e-commerce
As the social network with the highest engagement rates, Instagram is a highly appealing destination for digital marketers.
In November 2018, Instagram unveiled new e-commerce features that make it easier for users to buy the products they see on the platform.
By tapping a shopping icon in the bottom left when watching a branded video, users can view a list of the products featured in the video and their prices. If they like what they see, users can then save the product to a "shopping collection" that they can browse and consult at their leisure.
Instagram's new feature comes on the heels of Google's announcement that it would add videos to its Showcase Shopping ads in October 2018.
When consumers search for a particular non-branded word or phrase, they might be presented with an shopping ad at the top of the search page that displays images and videos of relevant products. For example, a user looking for "bed frames" might be shown a video ad for a furniture e-commerce store.
2. 360-degree videos
Although true virtual reality has yet to hit the mainstream, 360-degree videos are a way for viewers to transport themselves to another location.
The idea of 360-degree video is akin to Google Street View, except in video format. Users can interact with the video however they wish, clicking and dragging to change the perspective at any time.
For example, Nescafé's "Good Morning World" ad campaign gave viewers a look into the morning routines of eight different households around the globe. With too much to see in a single viewing, the 360-degree environment encourages people to watch and rewatch the video multiple times (not to mention the catchy song).
This flexibility and interactivity makes 360-degree videos ideal for digital marketing campaigns that want to boost immersion, interaction, engagement, and excitement.
According to a study by marketing firm IPG, 360-degree video ads increase consumers' purchase intent by 7 percent, and increase their belief that a company has a "unique story to tell" by 12 percent.
Websites such as YouTube, Facebook, and Vimeo have already included support for 360-degree video on their platforms. Investing in a good 360-degree action camera such as the GoPro is all you need to get started.
360-degree video marketing has a variety of use cases: retail, consumer goods, real estate, events and promotions, and more.
3. Video livestreams
Social media platforms such as Facebook, Instagram, YouTube, and Twitter now allow you to start a live video stream, broadcasting in real time to other users.
Live video isn't just a way for people to connect with their friends and celebrities to connect with their fans – it's also a marketer's dream.
For example, when you broadcast on Instagram Live, the platform bumps your content to the very first position under the Stories section of users' feeds. What's more, users who have enabled Instagram Live notifications will receive a push notification telling them that you've gone live.
You can use your airtime to provide a "behind the scenes" look, launch a new product, host a Q&A session, interview someone, or hold any kind of event that would benefit from user engagement and interaction.
With many businesses complaining about the new Instagram feed algorithm hiding their posts, going live is the perfect way to get the visibility you want for your brand.
According to projections by Research and Markets, the live video streaming market will grow to $70 billion by 2021, more than doubling from $30 billion in 2016.
4. New video formats
Market research company eMarketer estimates that 78 percent of video content is now viewed from a mobile device. What's more, studies show that people hold their phones vertically 94 percent of the time.
Taken in combination, these statistics suggest that traditional horizontal videos may be on their way out. In their place, we expect to see more vertical videos and even more square-shaped videos, as digital marketers shift their attention to mobile.
As a compromise between horizontal and vertical, square-shaped videos are a particularly interesting format. One added bonus: square video with a 1:1 aspect ratio takes up 78 percent more space in a social media newsfeed than 16:9 landscape video does.