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 essential for business owners to recognise the market shift right now and consider how this might impact their business as we progress into the ’20s.
One of the most significant changes has been the adoption of utility marketing through social media using video. This is a new, effective form of marketing that goes against the “old school” direct advertising methods, which centres around building trust with an audience through a ‘digital conversation’. This new advertising style is a powerful way for business owners to supercharge their marketing with video in a 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 strategies that can be used in different marketing campaigns – such as video funnels on platforms such as Facebook, which further increases performance. Today active social media users make up 53% of the global population, and 70% of the Australian population use Facebook daily.
This year, brands and businesses that fail to take advantage of targeted video campaigns 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 impact this new global shift might have on their business in the years to come.
Source: We Are Social