We have already started to see an increased use of video in marketing. In fact, businesses without a video marketing strategy in place have most likely fallen behind their competitors. A recent Forbes study concluded that 59% of executives would prefer to watch a video rather than read text and that video consumption will account for 69% of all Internet traffic in the upcoming year.
Video marketing is now a space that is easier than ever to break into and contrary to belief, no longer requires an enormous budget. The latter part of 2016 saw a notable rise in live videos and streaming due to a push from services such as Facebook Live and Snapchat, which in turn helped brands and personalities dominate the field.
In order to develop an effective Video Marketing Strategy, it is important to note that the video content should seek to:
- Communicate a brand story
- Build relationships