As we head deeper into 2023, the world of video marketing continues to evolve at an unprecedented pace. With the ever-increasing relevancy of video content, brands and marketers need to stay on top of the latest trends to effectively reach their target audience. In this blog post, we will explore the current state of video marketing, highlight the key trends shaping the industry, and examine the statistics that underpin these developments.
PERSONALIZATION OF VIDEO CONTENT
Personalization is no longer an option but a necessity in marketing. In 2023, personalized video content will be a key trend in the industry. Personalization allows brands to create unique experiences for their customers, increasing brand loyalty and engagement. According to a study by HubSpot, personalized video content has a 16.5% conversion rate, compared to 10.5% for non-personalized video content. Additionally, 78% of consumers say they would be more likely to engage with a brand if the content was personalized.
An example of personalized video content is a video message sent to customers on their birthday. This can be done by collecting customer data and setting up automated emails with a personalized video message. The video can include a personalized message from the brand, an exclusive offer, or a discount code. This approach shows the customer that the brand cares about them and is willing to go the extra mile to create a unique experience.
Personalized video content can also be used to recommend products based on customer preferences. For instance, a beauty brand can send a personalized video message featuring a makeup tutorial or skincare routine based on the customer's preferences. The video could include personalized recommendations for products for the customer, increasing their engagement with the brand and tailoring the customer experience.
AUGMENTED REALITY (AR) AND VIRTUAL REALITY (VR) IN VIDEO MARKETING
AR and VR have been gaining popularity in recent years, and it is expected to continue to grow in 2023. AR and VR allow brands to create immersive experiences for their customers, increasing engagement and brand loyalty. According to a study by PwC, the AR and VR market is expected to reach $72.8 billion by 2024. Additionally, 62% of consumers say they would have a better shopping experience if AR and VR were incorporated into their shopping.
For instance, a furniture retailer can use AR to showcase their products in a customer's home. By using a smartphone camera, customers can see how a piece of furniture would look in their own space before making a purchase. This interactive experience can increase customer engagement and reduce returns.
On the other hand, a travel company can use VR to offer a virtual tour of a destination. This allows customers to experience the destination before they book their trip, creating a more personalized and immersive experience. With a virtual tour, the travel company can increase customer engagement and get more bookings.
SHOPPABLE VIDEOS
Shoppable videos are an emerging trend in video marketing and are expected to grow in 2023. Shoppable videos allow viewers to purchase products or services directly from the video, creating a seamless shopping experience. According to a study by Brightcove, 46% of consumers have made a purchase after watching a branded shoppable video. Additionally, shoppable videos can increase engagement rates by up to 8x.
For example, a fashion brand could create a shoppable video showcasing their latest collection, where customers can click on the items featured in the video to get more information or purchase them directly. This interactive experience can increase customer engagement and drive more sales, as customers can easily shop the products they see in the video without having to leave the platform or visit the brand's website separately.
Another example is a makeup brand creating a tutorial video showcasing their latest products and allowing customers to shop for the products used in the video. A makeup brand could create a shoppable video tutorial featuring a makeup artist using their latest products to create a specific look. Customers watching the video can click on the products used in the tutorial to learn more about them or purchase them directly. This interactive experience can increase customer engagement as customers can easily shop the products used in the video without having to search for them separately.
SHORT-FORM VIDEO CONTENT
Short-form video content has grown in popularity in recent years, thanks to platforms like TikTok and Instagram Reels. Short-form video content is easy to consume and share, making it an effective way for brands to reach their target audience. According to a study by Wyzowl, 68% of marketers plan to incorporate short-form videos into their marketing strategy in 2023, up from 54% in 2021. Additionally, 72% of consumers prefer to learn about a product or service through video content. Therefore, brands should consider producing more short-form video content to capture their audience's attention and increase engagement rates in 2023.
Short-form video content is a very common format, for example a fashion brand creating a series of 10-second videos showcasing their latest clothing collection. The brand could create a series of short clips featuring models wearing different outfits from the new collection, highlighting the key features of each piece. These short-form videos can be easily shared on social media platforms and can attract a wide audience.
LIVE VIDEO CONTENT
Live video content has become increasingly popular in recent years, and it is expected to continue to grow in 2023. Live video allows brands to engage with their audience in real-time, increasing engagement and brand loyalty. According to a study by Livestream, 80% of people would rather watch live video from a brand than read a blog post. Additionally, live video can increase conversions by up to 80%.
Live video content could for example be a sports brand hosting a live event to promote their latest product release. The brand could create a live event featuring a popular athlete or sports personality to showcase their latest line of products. During the event, the athlete could showcase the products in action, answer viewer questions, and provide insights on their training routine. This live video content can be easily streamed on social media platforms and can engage viewers in real-time through comments and questions. By leveraging live video content, brands can build excitement around their product releases, increase brand awareness, and engage with their audience on a more personal level.
USER-GENERATED VIDEO CONTENT
User-generated video content is an emerging trend in video marketing and is expected to grow in 2023. User-generated video content is created by customers, fans, or
influencers and is an effective way for brands to build awareness and trust. According to a study by TINT, user-generated content has a 4.5% higher conversion rate than non-user-generated content. Additionally, 76% of consumers say they trust user-generated content more than branded content. Brands really should incorporate user-generated video content into their video marketing strategy.
User-generated video content could be a beauty brand launching a social media campaign encouraging customers to share their makeup routines. The beauty brand could create a hashtag and ask customers to share their makeup tutorials using the brand's products. The best videos can be featured on the brand's social media channels or website, and participants can win prizes. By leveraging user-generated video content, brands can showcase their products in action, build brand loyalty, and increase their social media engagement.
Another example is a travel brand creating a social media contest where customers share their travel videos. For instance, a travel brand could create a contest where customers share their favorite travel videos showcasing their experiences at different destinations. The videos can be shared on social media platforms with the brand's hashtag and the most creative videos can win prizes or be featured on the brand's website. By leveraging user-generated video content, travel brands can tap into their customers' experiences, build a community of loyal customers, and increase their social media reach.
CONCLUSION
Video marketing is an essential tool for brands to engage with their audience and drive conversions. As we head into 2023, brands must stay on top of the latest video marketing trends to remain competitive. The trends outlined above, such as personalized video content, AR and VR, shoppable videos, short-form video content, live video content, and user-generated video content, are expected to shape the video marketing industry in 2023. By incorporating these trends into their video marketing strategies, brands can drive engagement, build brand awareness and loyalty, and ultimately increase sales.
OUR GOAL
We at On Nox are starting to promote visual marketing strategies because of our experience working in the industry, as we often get requests without a well thought out plans of action. By providing this resource, we are hoping to entice our partners, customers and new prospects to create more cost effective and sustainable visual marketing strategies.
Read more about how we work with visualization or reach out for a introduction meeting
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