Brightcove had the pleasure of attending the iMedia Brand Summit held in Kota Kinabalu, Malaysia earlier this month. The three day event brought a number of senior marketing executives to discuss the major strategic issues within the digital marketing industry and I was given the opportunity to share my point-of-view on the dynamic changes that video brings to the industry.
In particular, I highlighted the amazing results from our first global research report commissioned with research firm, Aberdeen and delved into two interesting concepts which struck a chord with audiences.
The Hidden Sales Cycle
Today's environment is a connected web of information and buyers hold the power. We're seeing content increasingly playing a huge part in the decision-making process as buyers gain access to information about potential services and products they are intending to purchase. This means that the empowered buyer's access to information shifts the balance of power towards the customer and drives content marketing and its adoption. With such easy access to content and community coming together in a powerful way, marketers need to push into this hidden sales cycle with content that can positively sway buyer's decisions.
The Forgetting Curve
In a world where 80-90% of companies have an active marketing strategy, the market has become saturated with content. The most precious resource is now the attention and time that buyers spend on interacting with content, and ultimately, sellers. Marketers thus need to fight against this reduced retention of information coined as the forgetting curve. Simply put, people can only retain a certain amount of information as time goes on and usually the most compelling and interesting content available is remembered. Marketers will do well to learn how to fight against the curve to increase retention in an information-competitive market.
Here are a few effective video marketing tips that we have developed for brands seeking to use video to drive their content marketing strategy:
- Get original - As with all types of content, the ability to create original video content to tell your story is key
- Promote conversion - Use video to start the conversion, engage viewers and aid them in overcoming the inertia of taking the next step from click to conversion
- Watch the watcher - As a self-contained asset, video metrics provide analytics on how video is being used by viewers and their consumption patterns. Companies using video can attain informative cross channel metrics and analytics due to this self-contained nature of video. Additionally, video provides another dimension to content by giving a perspective on how content is performing beyond just the few clicks
- Professional grade OVP - As strong adoption of video marketing and management platforms increases, professional grade OVPs make it easy to manage and distribute assets effectively and easily. In analytics, it also allows marketers to obtain more in-depth analytics data and empowers brands with information on viewer consumption patterns
In summary, the iMedia Brand Summit was a great platform for industry players to come together and explore the added benefits of implementing a video strategy to spur business growth. To find out more about how video can help drive customer demand and increase conversions for your business, contact us at firstname.lastname@example.org