This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
Video Consumption is Skyrocketing: Get Ready for Launch
Wistia is a video hosting platform that enables marketers to set up their own video channel on their websites and then utilize a suite of marketing tools to convert video watchers into subscribers and brand advocates. Wistia published its 2022 State of Video Report and after following video data trends in 2021, its clear the dramatic increases in video creation and consumption caused by the pandemic are here to stay.
Wistia analyzed user data from over 330,000 of its accounts and more than 42 million videos uploaded to its platform from 2019- 2021. The company also surveyed over 600 customers to find out how they’re thinking about and planning their video marketing strategy in 2022.
Chris Savage, CEO, and co-founder of Wistia, recently spoke with No Jitter about why video is such a critical component of any company's marketing strategy and the types of videos gaining popularity among viewers. He also shared how video can capture leads, encourage repeat visits, and bring viewers into marketing automation workflows and insight into how augmented reality (AR) and virtual reality (VR) may shape the future of video.
Responses have been edited for conciseness and clarity.
According to the report, the primary goals of video are to increase brand awareness (22%), provide product education (21%), and boost customer engagement (18%). Why did these three purposes pull ahead of the others? How does video really help advance those goals?
CS: Driving brand awareness, educating audiences about products and services, and increasing customer engagement are top objectives for many companies as they embrace video as part of their overall marketing strategy.
When you look at other forms of communication, such as blog posts or photos, they do a great job highlighting your company’s ideas, voice, and what products and services you offer. Having a distinct identity leaves a lasting impression and allows consumers to understand your company on a more personal level.
Regarding types of videos companies created in the past vs. what they plan to create in the future—webinars dropped from 14% to 7% and tutorials dropped from 13% to 10%. Meanwhile, original branded series increased from 7% to almost 16%. Is there a specific reason for this leap in percentage? Why are these types of videos gaining popularity among viewers?
CS: The pandemic has changed how people consume content, and they're looking to be entertained in different ways. While shorter videos can quickly grab viewers’ attention, creating video content that hooks viewers and keeps them engaged through a full series can greatly increase brand exposure. These longer, quick-succession videos aren't only fun, but they can also inspire creativity and entertain your audience, so they keep coming back for more.
How can video be used to capture leads, encourage repeat visits, and bring viewers into marketing automation workflows?
CS: Nothing is more frustrating than putting a ton of time and effort into a video project, only to see that it doesn’t generate desired leads. It’s important to implement various types of marketing content to meet your goals. Adding variety to the videos you use throughout your marketing funnel can really help boost lead generation and nurture repeat visits. Customer testimonials, an educational series, and product tutorials are great options to ensure you cast a wide net with your video content.
While many businesses use video and marketing automation in their marketing and sales strategies, they are often kept separate. By combining them, however, you can harness the power of video with the timing and segmentation that marketing automation provides.
Why must businesses view video as a critical part of a successful marketing strategy?
CS: If you’re looking to level up your brand marketing efforts and tell your story, video must be part of your overall marketing strategy. Thanks to the rise of social media, consumer behavior has changed—video isn’t just a medium for major brands anymore; small brands need to compete to grab consumers’ attention.
Over time, video can help you build stronger relationships with customers and potentially increase satisfaction and brand loyalty. With video, you can take more creative risks that can result in big growth opportunities for your brand.
Blue-sky time: How will AR/VR shape the future of video?
CS: While there will be a bunch of phases before all videos move into the metaverse, companies are increasingly experimenting and spending more time in VR. At Wistia, we gave staff members Oculus’s to keep teams engaged—especially as they become more dispersed and move away from company headquarters. As we invest more in AR/VR, we’ll be able to have more meaningful, interactive conversations both internally and externally.