Why You Must Optimize Your Video Marketing Strategy
As a marketer, you’re facing unchartered territory. New platforms, channels, and competitors are entering the market at a record rate. The path to entry for competitor brands has never been easier, and the fight for consumer attention has never been fiercer.
In a flooded market, your target customers face an abundance of choices—and content—on a daily basis. To effectively reach your audience and ensure your brand’s vitality, you need to optimize your video marketing strategy to publish a constant stream of smart, targeted video creative in more places than ever before.
Today’s marketing climate requires an unprecedented level of agility and volume of content production. To stay on top of the game, you must create a constant stream of fresh content that feels native to each environment and communicates exactly what your target audience cares about. Scale is required to compete, but hard to achieve.
Consumers are Watching More Video with Shorter Attention Spans
As the content landscape has become saturated, attention spans have dropped. In 2000, a Microsoft study pinpointed the average person’s attention span at 12 seconds—15 years later, it dropped to 8 seconds.
A recent study from the Technical University of Denmark suggested that attention spans are narrowing because of the abundance of information presented to us. In short, the marketplace is crowded and consumers are forced to split their focus to keep up.
This decrease in our collective attention span is correlated strongly with the growth of social channels and video sharing. The average person has 5 devices, giving them countless choices of what content to consume—and where to consume it. According to Oracle, these trends are here to stay and the competition to capture consumer attention through advertising will only continue to grow.
Consistently fresh on-target advertising that instantly resonates with your consumer is vital in today’s fragmented landscape. And video is the best medium through which you can quickly capture audience attention and land messaging:
- Viewers retain 95% of a message when they watch it in a video, compared to 10% when reading (Invisia).
- Brands are increasingly capitalizing on this advantage. According to Hubspot, 85% of businesses use video as a marketing tool—a 63% increase over the last year.
- Nearly 90% of marketers say that video delivered a positive ROI and 95% plan to increase or maintain their video marketing spend.
Consumer Experience is Key in the Experience Economy
Brands are well aware that the consumer is at the center of the experience economy. The concept of “the experience economy” is not a new one—it was described in 1998 by B. Joseph Pine II and James H. Gilmore in an article arguing that brands must craft memorable experiences for consumers. In the experience economy, a consumer’s experience with a brand is as important as the product itself.
In order to resonate with your audience, you must know your customer. You need to be delivering dynamic omnichannel video campaigns that are refreshed regularly with relevant and timely creative.
How to Optimize Your Video Marketing Strategy
As a marketer, you may be feeling like you need to be in more places than ever before with your strategy—and that can be overwhelming. Employing a pragmatic data-backed approach with an agile creative partner will unlock efficient, effective marketing at scale.
Here’s how you can optimize your video marketing strategy to stay competitive:
- Diversify Your Marketing Channels. There are more advertising channels and platforms than ever before (social media, OTT/CTV, etc.), each with their own set of best practices. Start by identifying where your target audiences consume content. Diversifying your marketing channels doesn’t have to break your budget. If you know the platforms you’ll be publishing on before you head into production for a video marketing campaign, you can cost-effectively produce platform- and audience-optimized creatives to reach a broader audience.
- Tap Into Data. As you approach the video production process and plan out a marketing campaign, leverage creative data. QuickFrame Video Intelligence is an ML-powered technology that analyzes the content of all of your videos reveal which creative attributes are tied to your KPIs. Use data to inform creative decisions to optimize your production spend. By zeroing in on the attributes most tied to performance, you can save money and allocate additional spend to media buying.
- Find Agile Creative Partners. In a world that moves faster everyday, you need to stay relevant with up-to-date creative and messaging that will land with your targets. The best way you can ensure your brand stays in the conversation is to secure a creative partner that can quickly activate against pivots in your marketing strategy.
- Test and Iterate. Optimization is not a one-and-done deal. It’s an ongoing process. As you launch campaigns and test new creatives, gather learnings and iterate. The process is a cycle in which you continually integrate learnings and finetune your strategy to improve on the efficacy of your content.
See how QuickFrame partners with brands to unlock video marketing agility—read about our partnership with Freshpet.