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Video marketing has been an important tactic for big brands for years. But video is changing. By 2020, video will make up more than 85% of all consumer internet traffic in the U.S. Most of the videos people will be watching won’t be uploaded by brands or businesses – they’ll be uploaded by individuals. One of the biggest hang-ups many businesses have with video marketing is the production aspect. They want their videos to look professional – like they were produced by Hollywood directors. But you can do fine by using simple recording and editing tools. For example, InVideo can help you create stunning professional-level videos in minutes with pre-made templates. Most importantly, people aren’t looking for dazzling special effects. They just want good content that’s entertaining, informative, and story-driven. Not only does HubSpot introduce its new video series, “Brilliant,” the company tells the story of an entrepreneur who overcame significant challenges and built a business through persistence and determination. The video contains some excellent production elements, but it’s the story that drives it. These are the types of videos that garner attention and go viral. Instead of selling software, HubSpot has found a way to build a community around its brand. And that type of brand recognition is priceless.
Ultimately, it is the business, marketing, and brand development strategies which drive the growth of a business, so it is important to have a sound marketing strategy and branding in place before working on the digital tactics. Otherwise, it’s likely your hard work on the digital tactics will be wasted if they are directed at the wrong audience and your value proposition isn’t strong enough. The key trend here is the way digital technologies and media offer the opportunities for digital disruption. Yet digital marketing is not always used as a disruptor. As I discuss in my Digital Marketing: Strategy, Implementation and Practice book, digital marketing is more often used for market penetration than new product or market development (these are the classic Ansoff growth strategies). To give you a benchmark, this new CMO Survey research from Duke University Fuqua Business School, Deloitte and the American Marketing Association based on the views of Chief Marketing Officers (CMOs) in large US organizations is useful. It’s interesting since it translates the theory of Ansoff into practice, showing how businesses are mainly investing, but other strategies are significant.
With all that talk about chatbots, the reality of modern marketing becomes clear: it’s more conversational. People want it that way, and so brands are reacting. When consumers have a question, 82% want an “immediate” response. Conversational marketing facilitates a one-to-one, real-time connection between marketers and customers: Unlike traditional strategies, this form of marketing is now available across multiple channels, allowing brands to meet customers on their terms: on the devices, platforms and time schedules that suit the customer best. As per David Cancel, founder and CEO of Drift: “Today’s buyers expect to find what they’re looking for now, not later. As we prepare for the future, it will be more important than ever for businesses to be available across a broad spectrum of channels, and to make sure you’re communicating the way people prefer to communicate.” Ultimately, the primary goal of conversational marketing is to enhance the user experience through a feedback-driven model that fosters higher engagement and greater loyalty.
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