How Digital Video Advertising Will Dominate The Next Decade
The next decade is going to feature more video content than ever, and consumers have already embraced it. YouTube has over 1 billion hours of video watch time every single day. Social networks like Facebook and Instagram have introduced similar features for businesses to reach their target audience. The future of advertising is in the video format, and by harnessing the power of video content, brands can increase reach and engagement way more than ever before.
Among the fastest growing social media entities, Snapchat, Instagram, and Facebook are reconditioning audiences to expect video. YouTube, for example, boasts over 1 billion hours of video views daily. And with autoplay videos a staple of the Facebook interface, digital video advertising has become one of the most effective ways to reach consumers.
Digital video advertising is increasingly popular among younger consumers. Many of these users watch videos on their phones or tablet, and these mobile-responsive videos will likely be the most successful way to capture their attention. In fact, over 80 percent of businesses have reported improved ROI by incorporating video marketing into their digital marketing strategy. And as more people start embracing video content, their ROI will also improve dramatically.
By the end of this decade, 73% of all digital ad spending will be on mobile devices. For marketers to be successful, it's imperative to adapt their video campaigns to smaller screens and create the perfect UX/UI for mobile users.
Another way to take advantage of video advertising is to create a video campaign that is more individualized and personalized. For example, Instagram has launched a video feature that allows users to create custom content, while Facebook uses its video service to share this content. These videos are a great way to build brand recognition and organic engagement. Besides boosting brand recognition, digital video also helps brands reach consumers by improving their brand visibility.
As social media users become savvier, digital video advertising will become increasingly important. Moreover, video has surpassed the traditional television medium in terms of spending on digital advertising in the U.S. in the last decade. It is also one of the fastest-growing forms of social media content. Its ubiquity makes it the most compelling and versatile form of advertisement. Also, it is a natural fit for social media platforms.
The growth of social networks has fueled the development of digital video advertising, and the industry's future remains bright. While digital video advertising spending is expected to increase to $55 billion in 2021, the market is projected to surpass $78.5 billion by 2023 in the USA. Therefore, the potential for video content is endless, and if a business is willing to invest in the technology, it will likely be successful.