I might take a look back at 16 of the most shared, read, and talked-about Tubular Insights posts of 2016. But, this was not a normal year. And I am not even talking about global news, important issues, and sporting events such as the US election, climate change, the Brexit referendum, fake news, the Rio Olympics, or the World Series. But, I am talking about unexpected news and developments in the online video & internet marketing industries such as the sudden death of Vine, the bewildering birth of Pokémon GO, the unforeseen postpones in the adoption of virtual reality, and the unanticipated of live video streaming, the surprising implosion of Yahoo! Screen, and the startling explosion of Samsung Galaxy Note. What about trends and insights about videobuilder marketing in 2017?
Hoping to find the way forward by looking backwards when the market is moving sideways could be like driving a car down a dark & twisting road by looking in the rear-view mirror & hoping we don’t end up in a ditch. What do we need when the times, they are a changing’?
Current Trends in Video Marketing
For starters, we need critical data. We need a deeper analysis of the top trends in the digital video marketing business. We got a bit of both last week – just in time for all of us to examine & evaluate before we’re expected to deliver strategic insights & tactical advice in the coming year.
Let’s start with the unpredicted data dump by YouTube. You will not find the latest YouTube stats on the YouTube Statistics page. Instead, you will discover this critical data about who’s tuning into YouTube & when, where, and what they are watching has just been published on Think with Google.
What do we know now that we did not know before? Well, most of us think that the “average YouTube user” is a millennial. In the old days, the average YouTube users were millennials. However, who knew that YouTube watch time among older audiences is developing? From 2015 to 2016, time spent on YouTube more than doubled among adults 18 – older. Let’s consider that the baseline for success among YouTube viewers. Now, hold on to your hat. From 2015 – 2016, time spent on YouTube almost tripled among adults 55 – older. That right, viewers are Baby Boomers.
Gen X is spending more time watching YouTube. From 2015 – 2016, time spent on YouTube grew 40% faster among adults 35 & older than among adults overall. And according to comScore, YouTube reaches 95% of adults 35 & older in a month. But from 2015 – 2016, time spent on YouTube increase 80% faster among adults 55 & older than among adults overall. And according to comScore, YouTube achieves 95% of adults 55 and older in a month. And, I will bet that you know a HiPPO (highest paid person in the office) who thinks that the average YouTube customers are young & single male.
Now, I do not want you to lose your job, so just blink if you agree. However, then check out reality: More than 50% of YouTube’s audiences are female. And YouTube audiences are more likely to have a college degree compared to the population. And YouTube audiences are more likely to have kids than non-users. Where are the MythBusters that we need them?
I suspect that you know someone on your team / at your ad agency who has been advocating for dayparting. You know who I am talking about. And I will bet that he or she assumes that people watch YouTube on their mobile devices during the day & “on the go.” Well, the majority of watch time on YouTube is mobile. On mobile alone, in an average week, YouTube reaches more adults 18 & older during prime time than any cable network does. You-know-who has got that right. But, it turns out that YouTube viewing behavior on mobile is like TV than I had assumed: The world watches at home, during prime time, on horizontally oriented screens. I think, I said something entirely different during a content marketing webinar only last week. But, I hadn’t read this new data yet. Here is what I know now: A Google or Ipsos Connect survey in July 2016 found:
- 3 in 4 adults report watching YouTube at home on their mobile devices;
- Home mobile YouTube viewing occurs during prime time;
- 7 in 10 people default to horizontal viewing when watching videos on their phones;
- YouTube users are twice as likely to pay close attention while watching YouTube compared to TV users while watching TV.
The same Google/Ipsos Connect survey found:
- Almost 4 times as many people like watching video on YouTube as on social platforms that are less video-centric;
- The top 2 reasons viewers watch YouTube are “to relax” and “to feel entertained”;
- The top 4 content categories watched by YouTube users are comedy, music, entertainment/pop culture, and “how to”;
- 68% of YouTube users watched YouTube to help make a purchase decision.
I could dismiss this new data because half of it does not conform to my pre-conceived assumptions. But that would be wrong. Video marketers who want to continue being successful in 2017 need to unlearn about a third what they have learned over the last 12 months because things adjust that fast in the digital video marketing business.
The Latest Platform Changes and New Features
Do you want an idea of quickly the online video industry changes? Here’re just some of the news stories from the past few weeks:
- FB launched Live 360 video, which will be available to more Pages via the Live API in coming months, and will roll out more broadly for all Pages & Profiles in 2017.
- Snap Inc. announced Groups, a new method to communicate with up to 16 friends on Snapchat. Chats sent to a Group are deleted by default after 24 hours. Snaps sent to a Group could be opened and replayed once by each recipient.
- Instagram showed that its community has grown to more than 600 million Instagrammers. That is up from 500 million six months ago. And they have more ways to share than ever before with Instagram Stories, live video & disappearing videos in Direct.
- YouTube launched a new custom URL system that works from Google+. Kudos to YouTube for making this positive change for the millions of channels that have custom URLs, as well as those who will request one in the future.
Multiply these developments by 52 weeks a year, and you could get a sense of why things are moving sideways almost as fast as they are moving forward. But wait, there is more!
Video Marketing in 2017
The folks at Social@Ogilvy, a global, cross-discipline team of social experts from across all of Ogilvy & Mather’s businesses, presented their yearly report, Key Digital Trends for 2017, on SlideShare. And slides 45 – 56 present their plan insights about “a video first world.” What’s that? Well, it is a real “thing.”
Back in 2014, FB made video a priority. Then suddenly, out of the blue that summer: a great charitable event known as the ALS Ice Bucket Challenge just happened to go viral! Other platforms saw the opportunity & stepped up with their own video offerings. Instagram, Twitter, Snapchat – if you can download it, you can watch/create/share video on it!
In July 2016, Mark Zuckerberg, co-founder of FB, says on an earnings call, “We see a world that is video-first with video at the heart of all our apps & services.” Zuckerberg’s quote is interesting by way of its structure. There’re two key parts here “video-first” & ‘”all our apps and services.” Video first means video will get the priority. All our apps & services means all of Facebook’s platforms: WhatsApp, Facebook itself, Instagram, Messenger, and Oculus.
As part of its mission to be video-first, FB started going after one of the few remaining heartlands that Twitter has left: LIVE content. The best & easiest way to do that was with the social network’s live video streaming product, FB Live. The social network is throwing a ton of money at this – both from a revolution perspective as well as a media angle. The folks at Social@Ogilvy say a FB spokesperson told them that he or she had not seen “a company-wide pivot like this” since the social network wanted to be “mobile first.” (Note: More than 75% of Facebook’s ad revenue comes from mobile). In short: FB Live is a big bet from Facebook and it is throwing everything it has at it to make it successful.
The team at Social@Ogilvy say, “Let’s not forget about YouTube. After a year in the wilderness, licking its wounds & working out what the hell happened with FB video, YouTube is pushing back. YouTube is courting brands with its effectiveness & crowing loudly about what does (and doesn’t) constitute a “view.” Perhaps this explains YouTube’s data dump. In any event, the social experts from across all of Ogilvy and Mather’s businesses say that YouTube “is the one to watch – this is barely getting started.” They also posed a rhetorical question: “what kind of video are we talking about?” And they answer their own question by saying, “We’re witnessing the collapse of traditional video formats.”
How Video Marketers Need to Prepare
How do video marketers prepare for this brave, video-first world? For the content-snacking generation, video is starter, main, and dessert. To not have any kind of video support and/or plan that lives with and/or complements your existing communications would be a fool’s errand. It is time to learn to love video.”
The folks at Social@Ogilvy have some tactical advice about preparing for a video first world:
- Got a television commercial? Get/cut/use all of the footage!
- Shooting a TVC? Get someone there who is shooting with a smartphone!
- Cannot afford a TVC? Shoot something yourself!
- Get clever or useful with video apps that can give you the creative edge that you need!
- Publish to FB? Use Square Video!
- Got a ton of cash? Do something awesome in VR!
- Got a amount of cash? Look into 360 video!
Are you concerned that the HiPPO who we talked about earlier need a second selection before seizing the opportunities that a video first world offers to your organization? See, I have been in those meetings, too. Check out the Cisco VNI forecast, which says that nearly a million minutes of video content will cross the network each second by 2020. Globally, IP video traffic will be 82% of all consumers Internet traffic by 2020, up from 70% in 2015. Global IP video traffic will develop threefold from 2015 to 2020, a CAGR of 26%. And globally, virtual traffic will increase 61-fold between 2015 – 2020, a CAGR of 127%. Hope you all had a great chance to think about that over the holidays. Get ready for the ride of your life in 2017.