Did you know COVID-19 has been the catalyst for a significant marketing shift a decade in the making? In the past 12-months, there has been an explosion of more than half a billion new social media users. There are now 4.2 billion social media users worldwide, and in 2020 alone, users spent trillions of dollars on e-commerce.
I think it’s important for business owners to recognise the shift in the market happening right now and to consider how this might impact their business in the ’20s.
One of the most significant changes has been the adoption of utility marketing through social media using video. This is a new and effective form of marketing that goes against the “old school” direct advertising methods focuses on building trust with an audience through a ‘digital conversation’. This style of advertising is just one of the many new ways the power of video is being harnessed to market in this rapidly changing social media landscape.
As of 2021 social media advertisements that contain video have a 48% higher view count than any other. And this statistic doesn’t take into account the various methods that can be used in marketing campaigns – such as video funnels on platforms like Facebook. Right now active social media users make up 53% of the global population and 70% of the Australian population are active on Facebook.
Brands and businesses that fail to take advantage of using targeted video campaigns this year, run a high risk of becoming lost in the noise within the next 3-years as this new form of marketing takes off. It’s a good idea for small business owners to take a fresh look at their current marketing strategies and consider the possible impact this new global shift might have on their business in the years to come.
Source: We Are Social