YouTube garners more than 1 billion unique views a month; by 2018, video content will account for almost 80% of all consumer traffic online, according to research by multinational technology company Cisco.
Indeed, video is not only the future of content marketing–for early adopters, it’s already king.
But in the Asia-Pacific, video marketing is concentrated mostly in the region’s maturest markets, according to Mark Blair, vice president, Asia-Pacific, at Brightcove. “It tends to be global brands in countries like Singapore and Hong Kong, as opposed to regional brands, that are scaling up their video marketing efforts,” he said.
One of the biggest marketing trends to hit Australia and New Zealand is shoppable video, which enables featured products to be clicked on and purchased right from the video.
“A ‘shoppable video’ is a blend of e-commerce, marketing automation, and using video online to create a seamless experience for consumers,” Blair explained, citing Brightcove’s work with jeweller Michael Hill on a shoppable video campaign used to focus on momentous occasions, such as an engagement, to tell the story of a customer and a piece of jewellery. Following the campaign, Michael Hill experienced an 85% increase in visitors to its site, a 97% increase in mobile traffic, and a 300% increase in sales, Blair said.
Reasons For Reluctance
According to Forrester, one minute of video equates to 1.8 million words, so the platform’s power is more than clear. Then why is the rest of the region not fully embracing the video platform? Phil Ely, head of communications at digital agency Lowe Profero, pointed to a lack of confidence among many APAC brands to move beyond running a TV ad online.
“To counter this we need a mentality shift to happen,” Ely said. “Companies like Red Bull, Under Armour, and Nike will develop videos alongside their TVCs to be shared and viewed almost exclusively online.”
The reluctance of video uptake in other APAC markets can be attributed to misconceptions. Cost is high up on the list and one of the main reasons brands aren’t capitalising on its power. But, according to Ely, with the breadth of technology and software available, it’s possible to produce quality video content for less than $500.
Another misconception, about videos’ ineffectiveness, stems from marketers’ own mistakes, said Neal Moore, co-founder and chief executive of Singaporean content marketing agency Click2View.
“Using the video file name as the title is a big one,” he said. “Not providing a compelling headline or description, forgetting to tag, not writing a blog post to support the video [are others].”
Moore also explained how marketers, rather than integrating content and committing to a long-term strategy, still get caught up in the biggest myth of all: virality.
“A lot of Asia-Pacific marketers are still looking for that magic bullet, that one ‘viral video’ that will solve all their problems–but, sadly, it doesn’t exist,” he said.
Opportunity awaits APAC marketers who can make their way past these misconceptions. They may very well be on their way. According to the Hong Kong Advertisers Association (HK2A) and Nielsen, 84% of marketers will increase their digital marketing budgets over the next 12 months, which will include content marketing and ever-engaging video.
Lowe Profero’s Ely argued the need for a clear content strategy in addition to respecting the power of video as a platform. “Brands need to commit resources to the production of unique and interesting content that people will actually choose to watch,” he said.
Brightcove’s Blair said he suspects less mature APAC will start to take video seriously in the next 12 months. “My message to digital marketers in the region is this: You need to leverage video because it’s an incredibly powerful e-commerce platform,” he said.
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