The growing importance of short-form video marketing in 2024 is detailed in recent analysis by Munch. Indicating a clear shift in viewer preference, the report reveals 85% of consumers prefer videos of 15 seconds or less, with short forms receiving two and a half times more engagement than long form videos. This increase has attracted advertisers leading to a predicted revenue from short video ads which could exceed 10 billion.
User-generated content has become a crucial factor shaping consumer purchasing decisions, prompting businesses to rethink their content strategies. Employing simplified production techniques that use smartphones and vital equipment, businesses aim to create content that consumers perceive as authentic and relatable.
Accessibility features like subtitles and captioning have given rise to more inclusive videos, expanding the audience and increasing viewer engagement. A focus on subtitles caters to audiences who have hearing impairments or prefer to watch without sound.
Businesses are demonstrating enthusiasm for the potential return on investment from video content and are adopting a “video-first” approach. Adjusting content for different platforms broadens their outreach and the importance of video SEO has grown as companies aim to improve visibility and achieve higher ranking in search results.
Emotional storytelling is recognized as key in building brand loyalty and awareness which can directly affect a company’s growth. However, video marketing also presents challenges; generation of ideas, scriptwriting can be time-consuming, and creating videos requires investment in equipment and software. As well as this, strategies that resonate with target audiences across different distribution platforms must be developed.
Successful viral videos often have common characteristics: they usually have a fast speech rate of around 150 words per minute and involve two to three speakers offering diverse viewpoints. The optimal length for these clips is around 40 seconds.
Popular platforms for businesses and content creators, according to the report, continue to be Instagram and YouTube. TikTok falls behind in presence, which could indicate potential difficulties for its adoption as a business marketing platform for original content.
In summary, Munch’s report emphasizes the increasing dominance of short-form video content in marketing strategies. User-generated content, accessibility features and optimized videos can yield significant returns on investment. Nevertheless, the production of quality videos requires careful planning and resources. Concise, collaborative videos that align with platform and industry norms can create engaging and viral content. Therefore, businesses should carefully evaluate their video goals, resources, and target audiences when developing their strategies.
Source: How Short Videos & User-Generated Content Impacts Marketing.
