Last week our StoryMe London team attended VidCon London, one of the world’s biggest online video conventions in the world. The convention aims to give industry experts and creators an insight into the ever-growing world of social media and video. As VidCon puts it, it's an event "for anyone who loves & makes video". Here are our 9 takeaways from VidCon London 2019!
aftermovie VidCon London
1. Video is (still) Breaking the Internet: 7 Kick-Ass Stats
Even as a video company, the growth and omnipresence of video keeps exceeding our expectations - and that's in large part due to today's digital reality in which your audience is constantly connected! These are some of the key stats that stuck in our minds after VidCon London.
1M videos are shared every second on the internet.
500M+ hours of videos are watched on Youtube + Facebook daily.
80% of internet traffic is video.
The average attention span of a consumer is of 8 seconds.
80% of consumers can recall a video ad that they viewed in the last 30 days.
87% of marketers use daily video content.
By 2021, the global ad spend on digital video will be of 45 Billion USD.
2. Video: A Consumer's Favourite Form of Content
HubSpot recently conducted a survey asking consumers what their preferred form of content was when receiving information from companies they support. Guess what their number one choice was? (ok, we already spilled the beans). It's video! Think about your own situation: do you prefer to receive a PDF from a brand, or just to watch a video? Our brain is wired to understand visual information a lot faster than text, so this stat shouldn't be a surprise to any of us, really!
3. The Most Downloaded Apps from 2018 include Video
A survey conducted by Sensor Tower looked at the top non-gaming app downloads on Apple’s App Store and Google’s Play Store. Out of the 10 most downloaded apps in 2018, 6 apps were video supporting platforms: Facebook, TikTok, Instagram, YouTube, Snapchat and Vigo Video.
The behavior of today's youngest digital-savvy generations is often a prediction of tomorrow's trends. And if we look at Generation Z's top 3 Social Apps, they're all video platforms! YouTube ranks first, followed by Instagram and Snapchat.
4. Companies Need to Consider the Right Metrics
There's more and more evidence for click farms out there! Click farms are where thousands of mobile devices are connected to bots in order to view, like and rate online content. In the "Age of Fake News, Views & Likes" companies must go beyond simple views and likes to measure their online footprint. Start focusing on more qualitative data like video view-through, valuable comments and shares. To see great results for these metrics, it's important to find and target your online communities and engage with them more than ever.
5. Authenticity & Transparency are Everything in the Age of Fake News
“Influencer fraud” is the industry phrase of the year, and people have wised up and are now more sceptical about influencers than ever before. While public use of social media and video continues to grow, trust in social media has never been lower. Maintaining transparency is a phenomenal tool to build brand loyalty, and that's why targeted “micro-influencers” are now more effective than celebrities. To be considered an influencer, you’ll want to have more intimate and transparent discussions with your followers.
It's not only influencers that need to work on their authenticity though. Brands also need to shift from maximizing their reach on social media to nurturing trust. To survive the ever mounting online clutter and disinformation, brands are resorting to the transparency of their actions as a brand building and communication strategy.
Everlane Founder and CEO Michael Preysman took to Instagram to explain
why this year's cashmere sweater was cheaper than last's.
6. Inspire Consumers with Pins
Is Pinterest part of your strategy? The company has managed to hold-on, forge its own path and prevail as a place where people go to be inspired. With over 250 million users, Pinterest is on the rise and is now one of the fastest growing platforms; currently growing faster than Twitter and Snapchat. Pinterest might still be behind in terms of total users on its platform, but ‘Pinners’ spend more money, more often, and on more items than users from any of the other big five social media sites.
7. LinkedIn is Going Live in 2019
LinkedIn video will be huge in 2019! Having only launched its native video platform in the summer of 2017, LinkedIn is still at the “Wild, Wild West” stage of video compared to the other major social media platforms. In 2019, the social networking site with over 500 million professionals will be launching ‘LinkedIn Live’, a tool giving users and organisations the ability to broadcast real-time video to select groups, or to the LinkedIn world at large. This feature gives marketers a new strategy opportunity as well as an extra medium to promote brands, products, careers and thought leadership to this huge audience.
Gaelle & Raoul with Goldie Chan, Author and
Instructor at LinkedIn Learning
8. The Future of Facebook is Groups
Facebook’s future is ‘Private Groups’. These relatively intimate groups, where people connect to share passions, practical advice and information are helping draw people back to the site. Facebook says about 1.4 billion people are using at least one of the tens of millions of groups on Facebook each month, up from about 1 billion monthly users in 2017, and that’s helped boost the site’s overall use. Groups, which can be public or private, have helped organize rallies, keep long-distance friends in touch, and unite people with similar passions.
9. Will Insta-Shopping get its own App?
Rumour has it that Instagram is working on a standalone app called ‘IG Shopping’ that would be devoted to e-commerce and allow users to browse and buy in one place. The current Instagram platform, which has over 1 billion active monthly users, already lets business advertise and tag their products in posts on their feed. Although you can often see prices and product details within the app, you still need to direct users via an external link to buy online. Only time can tell when this new way of Instagram shopping will launch and what exactly it will offer users.
Successful brands are continuously adapting to the changed consumer.
To sum up, social platforms are continuously evolving and changing - and each tweak is a reaction to the changed consumer and the changes in their online behaviour! So as a brand, it's crucial to keep up with the latest online trends and give your audience the content they're looking for. Today's consumer wants to receive transparant, authentic and inspiring content - preferably in the form of video!