The Coronavirus has impacted almost all industries across the world. This sudden shift in the lifestyle of almost everyone due to quarantines and lockdowns means that marketers have to shift their video marketing efforts to accommodate the current lifestyle during the Coronavirus. This article will show the Coronavirus impact on video marketing and talk about how you can adapt your strategy.
The general impact that the Coronavirus has caused cannot be understated as it has made unexpected and impactful changes in terms of how we live, how we work, and how we consume our media and content.
Adding this situation to the already ever-changing nature of videos adds another type of challenge that companies have to deal with for their video marketing.
Learning about the trends and developments that have occurred because of the Coronavirus impact on video marketing and videos in general can help give you a better understanding on how you can adjust and adapt your video marketing strategy to make the most out of it during this pandemic.
The Coronavirus Impact on Video Trends
Here are some trends to note when it comes to how people are consuming video content during the Coronavirus pandemic:
1. People are binging more video content.
Since most people have had to stay at home due to Coronavirus precautions, more people have been spending their time binge watching their preferred video content at home.
Not having to go to work or school has given most consumers more free time before and after work or school to watch all the videos that they probably would not have had the chance to watch if they had not been working or studying from home.
There was the initial surge of binging videos during the early days of the pandemic during March, but this development fell off for a bit during the next few months. However, the trend seems to be going up again alongside the re-emergence of Coronavirus cases in other parts of the world.
2. More videos are being completed by consumers.
Since more and more people have been watching videos during the Coronavirus pandemic, it would make sense that more videos are also being completed.
Video completion rates were actually experiencing a decline in 2019 and even during the start of 2020. However, due to the sudden increase in videos that are being watched during the pandemic, video completions have been experiencing a sudden and significant growth.
Keeping track of these video completion rates is important for companies as these rates are important indicators when it comes to evaluating the performance of their video marketing campaigns. Because of the increase in video completion, you should expect marketers to put out more videos to take advantage of this development.
3. Over-the-top or OTT streaming is growing while mobile experiences a slight hit.
Mobile video consumption was trending upwards and had steady growth due to the advancement of mobile devices and the growing abundance of mobile video content. However, with most people staying indoors for their work or school, the use of mobiles for videos was decreasing.
This is mainly due to the emergence of over-the-top streaming services for people at home which allows them to binge watch all their favorite shows. Services like Netflix, Amazon Prime, and Disney+ among others have become the primary growth driver of video consumption during the Coronavirus pandemic.
Since most people are at home, they are more likely to watch their chosen shows and movies either on their laptops or desktops since they are already using it for work, or on their TV’s since they may not be far away from one in their house.
4. Video content has grown to the point where it might be overwhelming for some consumers.
Although a lot of consumers have spent a good chunk of their time watching video content during quarantine as they have nothing else to do, there are some who feel a bit overwhelmed with the diverse selection of video programming that is available online.
Some people said that they find it difficult to manage all the different video streaming platforms that are available. This is in part due to how all these different OTT streaming platforms like Netflix, Amazon Prime, Disney+, Hulu, and HBO Max have their own exclusive shows that are not available anywhere else. This is also not even considering other video platforms like YouTube and Facebook who have their own large library of videos available to everyone.
While video is here to stay and will constantly grow even during the Coronavirus pandemic, this may be a good time for marketers to reflect on how they make their videos. The focus should always be on quality and not quantity because it is so easy for your consumers to be distracted with other videos online.
The Coronavirus Impact on Video Marketing – Video Streaming
The Coronavirus impact on video marketing has greatly affected video streaming. Video streaming has played a significant role in almost everyone’s lives during the Coronavirus pandemic due to how flexible it can be. It has a lot of different uses and benefits which is a great help overall. Here is how video streaming has helped different sectors of society during the pandemic:
The Impact of Video Streaming on Leisure
More people are consuming video content in their own homes due to stay at home orders as a precaution for the Coronavirus pandemic. This has led to more people streaming video content online. These people are treating these digital entertainment products more as necessities as a substitute for the lack of personal interactions they get to have every day.
Consumers are flocking towards different video streaming services that are available online. There are the OTT streaming services like Netflix, Amazon Prime, Hulu, Disney+, HBO Max, and Peacock which have their own library of exclusive content.
While OTT streaming services have become popular, other types of videos that are being streamed can also be found on popular video platforms like YouTube, Facebook, and the live streaming platform, Twitch. These platforms contain videos and live videos that cover a wide range of topics like gaming, music, food, or vlogging.
With a lack of social interactions in their daily lives, some consumers have grown to develop interest in certain online creators that regularly post on websites like YouTube and Twitch. The interaction and engagement you get from these videos helps create a strong sense of relationship between creator and viewer.
The Impact of Video Streaming on Education
Video streaming has become a critical factor in terms of continuing the education of students even during the Coronavirus pandemic and they all have to stay at home. Remote learning has made it possible for students to get their education in their homes because schools are able to provide live streaming for their online classes.
While e-learning used to be something that is only optional or supplementary, it has now become the norm due to the advancements in the speed of internet connection and advancements in live videos over the years. This type of live streaming allows teachers to host video calls for their classes which simulates a live classroom setting with all their students.
As we look forward to the future, it is looking like a lot of schools may continue to make the most out of the live streaming platforms for their online classes. Online learning still has a lot of time to grow since it has only been introduced fairly recently.
We can expect to see these live streams play an important role in the future of learning even if there will be more in-person interactions because of its accessibility that is being displayed during this time of the Coronavirus pandemic.
The Impact of Video Streaming on Businesses
Businesses have probably received the most benefit from using video streaming, specifically live streaming, to continue on with everything that they need to do for their company despite having to work from home. Having these live streaming services available for most companies made the transition to working from home as easy as it can be for most employees.
These live streaming, video conferencing platforms like Zoom, Skype, Google Meet, and Microsoft Teams have helped keep employees and their companies connected throughout the pandemic. These platforms allow for interactivity and communication which helps simulate their own work environment.
Other companies have also taken advantage of live video streaming during the pandemic by hosting webinars for their employees and clients. These webinars or virtual events provide an alternative to in-person company events and seminars which are not possible due to the Coronavirus pandemic.
These webinars can help inform your employees and clients and can also help establish you as an industry leader. Since these virtual events are a lot easier to produce and can be more accessible to people, expect them to be around even as a supplement when in-person events and conferences will be allowed in the future.
The Impact of Video Streaming on Consumers
Another sector that has been greatly affected by video streaming and live streaming are consumers, especially those who have had to adjust their buying habits due to the Coronavirus pandemic. These consumers have had to adapt their shopping from visiting shops in-store to spending more time shopping online and on social media because of lockdowns and quarantines.
This has led to a lot of companies having to migrate their business to their social media and ecommerce websites to accommodate these consumers. This meant that companies had to connect with their consumers solely online and having live streams helped these companies bridge the gap.
Live streaming has allowed for authentic interactions with customers because these videos are happening in real time and the company can talk about their products and have live conversations with their audience.
This helps put a face to the company and also helps them speak directly with their customers about their products. Companies are also offering sales during the live streams to encourage more people to join and also use live streams to create content like behind-the-scenes or a live show that gives more detail on how they make their products.
The Coronavirus Impact on Video Marketing Trends
Video marketing has also been greatly affected by the Coronavirus pandemic. Let’s find out about how the Coronavirus impact on video marketing affected certain trends when the pandemic started:
Video content is generating 12 times more shares compared to text and image content combined.
Videos are effective in being more memorable to their online viewers because of how visually appealing and entertaining video content can be. Also, the ability to interact with your video through likes, comments, and shares help increase the visibility of your key message, product, and company. (Small Business Trends)
More than 6 out of 10 consumers expect their YouTube usage to increase.
People are consuming more and more video content while they are at home and one of the most popular and accessible video content platforms is YouTube because of its wide variety of videos and that it is free to access online. (Izea)
Videos that have topics like reducing stress, fitness, working from home, studying, and cooking have significantly increased.
Creating timely video content that is relevant due to the circumstances surrounding the Coronavirus pandemic will help you with your reach and user engagement since most people are looking to learn more about these trending topics. Try to find out where your products can help in these relevant topics. (The Shelf)
Around 80% of consumers have engaged with more digital media content since the Coronavirus outbreak compared to before.
More people are seeking out digital content like videos either for information, entertainment, and even both at the same time. This media consumption may continue to increase over time due to the unpredictability of Coronavirus cases all around the world. People are still choosing to stay at home most of the time which means more time consuming video content. (Forbes)
Video search results have a click rate of 41% which is higher than others.
When it comes to searches on Google, videos have a higher chance of appearing on the first page of the search results compared to links that only have plain text like articles or blogs. By posting videos or including videos on your websites, you will rise among the other content made by competitors in your industry. (AOK Marketing)
Two-thirds (66%) of businesses have used videos as communication between them and key stakeholders during this Coronavirus pandemic.
These key stakeholders include customers, employees, partners, and investors. Most of these businesses utilized these video conferencing platforms to communicate both internally and externally while some companies actually created content specifically related to the Coronavirus. (Fifty Wheel)
Four out of five consumers (80%) are much more likely to watch through an entire video if it contains captions or subtitles.
If viewers can immediately see that a video does not include subtitles or captions, they would most likely select a different video to watch rather than turning on their sound. Because a good number of videos now are being viewed on mute, there is more need for companies to include captions for their videos to keep their viewer informed and entertained even without any sound. (Forbes)
By 2021, the average person will watch a total of around 100 minutes of video content every day.
This number shows that viewers are more interested in videos and this interest has generally increased due to just being at home. This means they are looking for new and innovative video content so this can be a great opportunity for your company to reach different types of audiences all over the world. (Forbes)
Product videos can help increase your purchases by 144%.
Having video content on your website helps consumers stay on your website. Visitors who watch your videos stay on the website twice as long and visit twice as many pages compared to those that don’t watch your website videos. Whether it’s a tutorial, a demo, or a product review, having videos on your website greatly increases your traffic and conversion. (Hubspot)
31% of businesses have said that they will increase their investment in online video software and another 31% say that they will keep their existing budget.
A lot of businesses are going to be investing in video software and technology which will help them reach their audience more effectively. Having effective video content can make a huge impact on advertising and sales which is a great return on investment for most companies that want to invest even more to make effective videos. (Fifty Wheel)
By the year 2022, around 82% of all created content will be video which will be 15 times higher than it was in 2017.
Video has and will continue to take over the content creation landscape because of how effective and engaging it can be in a lot of aspects of a company. Because of this continuous upward trend, more companies will invest in accompanying developments like including captions and coming up with more original videos to have success for their videos in the future. (Cisco)
How to Adapt Your Video Marketing Strategy During and After the Coronavirus
The Coronavirus impact on video marketing means that you have to adapt your strategy to make sure your videos will still perform well. Here are four ways you can adapt your video marketing strategy to accommodate your consumers during this Coronavirus pandemic:
1. Keep your production costs low.
Working from home has altered how marketers approach creating videos. When someone thinks about video marketing, the usual setup would be having camera crews, professional lighting and sounds, and well-made sets.
However, the pandemic has encouraged more companies to do what other online personalities do and that is to create short-form videos that do not need as much high-level production as video advertisements. This can help provide great opportunities for a more creative production.
Low-budget videos are now the current trend of the video marketing industry because they have a distinct look that is different from what advertisements or promotional videos look like which customers likely skip.
This type of production helps companies embrace being authentic and humanized which is what customers are valuing highly during these recent times. The Coronavirus pandemic has made it clear that customers place a higher value on what your video is about and how it aligns with their values instead of how well the production is.
2. Focus on authenticity.
Earning brand loyalty can be a difficult task for companies. They have an increased expectation to act and feel like humans and this authenticity is at the center of this trend.
Most consumers are saying that the reaction of companies to the pandemic affects their attitudes and opinions towards their business and products. Some even admit to withdrawing from a brand that does not meet their expectations.
Companies are now being expected to join the conversation about important matters and express what matters to people that support their brand.
Videos are a great tool for companies to express and communicate to their customers what their company values and what it stands for.
3. Use more live streaming videos
While live streams have been around for a while, their popularity has greatly increased due to the Coronavirus pandemic. With people having to stay at home, more people have the opportunities to watch live streams from the different devices they own.
Live streaming consumption has increased worldwide which has benefited online creators but also other companies and brands as well. It has become more popular because it is a more cost-effective and authentic way of communicating with your audience.
There are a lot of different purposes for live streaming which makes it effective in reaching a lot of different audiences. There are educational live stream videos, live interviews, webinars, Q&A’s, behind-the-scenes, product demos, and even live product selling.
4. Showcase real people from your company.
A company will have an edge over its competitors if it humanizes itself and shows that they genuinely care about not just their customers but also, especially their employees.
This is especially important during this time of the Coronavirus pandemic where people are looking for genuine connections. This strategy may require their office staff to be in front of the camera and overcome stage fear, but companies have recently empowered their own employees.
This show of courage from these employees can significantly help their company in terms of showing how genuine and caring they are. Another good thing that all the goodwill will be towards these employees because they are the ones that are seen who are working hard for the customers.
Video marketing has always been known as an unpredictable and constantly evolving industry. This Coronavirus pandemic has just established this even further by drastically shifting the video marketing habits of companies and consumers.
What is important is that you jump on these trends as soon as possible so that you get ahead of the competitors in your industry and be the first to establish genuine connections with your customers.
If you are looking to create well-made videos that will be part of your video marketing strategy even during the pandemic, then our team at fewStones is ready to help you out.
Our videography services at fewStones allow you to create different types of videos like explainers, product videos, corporate videos, and social media videos among many others.
Our team of professionals will guide you throughout the whole video production process which will make things run smooth and which will assure you of the best video possible.