Video has moved to become a central part of content marketing strategies, with video budgets set to accelerate further over the coming year, according to a study by the Content Marketing Association. 71 per cent of content marketers believe that brands aren’t investing enough in video content.
58 per cent of senior level marketers said they are planning on increasing the percentage of marketing budgets spent on video content in the next 12 months, with nearly a third planning for an increase of up to 50 per cent. Currently, on average, 78 per cent of content marketers spend up to a quarter of marketing budgets on video content.
This boom in demand for branded video content, making it one of the most powerful weapons for marketers, is due to its effectiveness for brand storytelling, information, entertainment and inspiration, plus its growth opportunities in mobile.
Over half of those surveyed for the ‘Video Content for Engagement’ study cited mobile as their primary channel for branded video content, with a third also putting mobile as the biggest growth area for video. This was closely followed by social media (29 per cent) and short form content (24 per cent).
YouTube, the original video platform, still leads the pack in in terms of importance for branded video content, but the industry has opened up with other big players such as Facebook adding competition and a new dynamic to the medium. When it comes to live video content, YouTube remained number one for marketers, with Periscope, Facebook and Snapchat following.
Clare Hill, MD, CMA, said: “There’s been an explosion in branded video content as the platform gives an unparalleled opportunity for brands to deliver value to customers through engaging content. With content marketers currently spending on average up to a quarter of budgets on video content, the exponential growth that this budget is set to see over the next year as video continues to excel in importance and value for brands is extremely exciting.”
The research also found that nearly a third of content marketers believe that it is possible to accurately measure the ROI of branded video content, with the key metrics including views (31 per cent), lead to action (21 per cent), length of engagement (19 per cent), view completions (16 per cent) and social sharing (14 per cent).
When it comes to specific content marketing verticals, entertainment is seen as most effective for video (43 per cent), with sport (18 per cent) and retail (16 per cent) also popular categories.
The study, titled ‘Video Content for Engagement’, was conducted across 100 senior level marketers, including the CMA membership of over 40 companies, plus brands such as McDonalds, Nikon and Guinness Book of World Records and media agencies such as Saatchi & Saatchi, Carat and PHD.