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Archives de catégorie : Video Marketing
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Video Future 2017: It’s All About Data
For marketers, online video rocked 2016. But what’s in store for the medium in 2017? Joe Hyland, CMO of ON24, explores the future of video and the important role video data and engagement analytics is poised to play
Video, especially online video, emerged as a marketing stand out in 2016, and the tech and media industry quickly took note. During a third-quarter earnings call in November, Facebook’s Mark Zuckerberg revealed his company’s “video-first” policy and outlined a vision of video as the dominant medium on the internet in the coming years. It’s a gutsy claim, but, all indicators considered, it’s entirely possible. Nevertheless, the promise of a “video-first” world is not without its own challenges — as Zuckerberg himself is certainly aware of.
So, what’s in store for the medium that rocked 2016? One word: data.
Looking ahead to 2017, video data is slated to revolutionize the way marketers do business. The potential insight marketers, advertisers, and decision makers can pull from their video assets is tremendous. Tapping that data; however, is not as easy it seems. Fortunately, enterprise companies can lead the charge in 2017 with the help of sophisticated video platforms.
Why Video Is The Next Data Gold Mine For The Enterprise
As an enterprise company, it’s no secret enterprise customers are behaving more and more like everyday consumers. And like consumers, today’s enterprise customers love watching videos. Whether impromptu or planned, video engages audiences in ways other mediums cannot.
Unfortunately, over the past decade, collecting data on those viewers was difficult. In the beginning of online video, marketers could only capture data points like views. Later new engagement metrics such as likes and comments came online, providing marketers with improved sentiment analysis.
Fast forward to 2016, and marketers are capturing more data points on viewer behavior than ever before. Now we can tell how long a viewer watched the video for, where they dropped off, who referred them, and more. These insights provide marketers with a richer, more holistic understanding of how their consumers are engaging with videos. Which compared to our past understanding, is fantastic. But to survive 2017, marketers will need to take this valuable data a step further and start to use it to proactively interact with viewers.
Interaction Metrics Will Define Video In 2017
Although a successful “video first” strategy means collecting data detailing how your audiences is engaging with your videos, it also, and more importantly, means knowing what your audience wants. What was the value in their interaction with your video? What steps did they take before and after? Can you even track that data, and therefore learn from it?
Having a better grasp on the answers to those questions allows you as a marketer to better understand where your videos fit along the customer journey. It gives context to your efforts– like seeing hidden details and background outside the camera frame.
Consider a company with a video first strategy anchored by webinars. With contextual data and a firm grasp on their customer’s interactions, marketers can diagnose which prospects are closest to sale by simply referencing the actions they took during the last webinar.
The Future Is Turning Engagement Into A Two-Way Street
Engagement is another area where I believe video is poised to excel in 2017. Two-way engagement — where customers and brands are having an open, productive dialogue — is the Holy Grail of marketing circles. It’s what all marketing departments strive for. How can we get our sales teams conversing with prospects, in a way that’s as productive and helpful as possible? What does it take to have more meaningful conversations? For the past few years, social media platforms have stepped in to provide those avenues of conversation for marketers.
To its credit, social media has revolutionized how marketers approach their customers. But like any tool, it can only do so much. Enterprises struggle to come up with what the next action will be beyond social interactions. Consider this: you’ve opened a dialogue with a customer who is curious about your pricing plans and how to best communicate those details to decision makers internally. Great! Now what? This is an issue I’ve seen time and time again. It’s also where I see video making a huge impact in the next year. Having a robust video archive accessible on-demand provides companies with that next step. Leveraging that on-demand library with video interaction data — now that gives marketers a winning recipe.
There’s no doubt in my mind that 2017 will be the year video data matures. The notorious black hole of video will be a thing of the past, and marketers stand to benefit. Looking ahead, it’s vital marketers assess their current video offerings. Are they collecting interaction metrics, is it on-demand, where does each video fit within their sales funnel, the customer journey? If the answers to these questions are not coming easily, perhaps it’s time to hit the whiteboards.
Twitter Advertiser Index: Gionee, Nexa, Tea Board, Paytm and Reliance Fresh
Presenting the weekly advertiser index that lists the brands which have generated most engagement with users on the micro-blogging site Twitter. This week’s top five engaging tweets come from the brands, Gionee, Nexa, Tea Board, Paytm and Reliance Fresh.
@GioneeIndia
Being a sponsor of India’s Electronic Dance Music (EDM) festival, Sunburn, @GioneeIndia gave away tickets to the event to lucky followers. As the festival goes on over a few days and across different cities, they gave followers chances to win tickets to each location in the separate activities they ran for each city. For example, #GioneeSunburnMumbai gave 5 winners 2 passes each to Sunburn Festival – Mumbai.
Link to tweet with highest engagement
@NexaExperience
Maruti Suzuki launched the all new model Ignis as part of their @NexaExperience and to promote the new car, they ran an instant unlock card campaign. This let their followers be the first to watch a video that features the car and the special functions that comes with it. To unlock the video, followers had to click on the button in the instant unlock tweet and can then view the video.
Link to tweet with highest engagement
@teaboardofindia
Tea is a big part of India and @teaboardofindia is a government Twitter handle dedicated to India’s Tea industry. @teaboardofindia gets lots of replies, likes and retweets from their followers with engaging tweets that excites them as they are passionate about tea. An example is when followers were asked to mention the one word that comes to their mind when they picture their chaiwala’s smiling face.
Link to tweet with highest engagement
@Paytm
@Paytm rolled out 0% transaction fee for customers who pay for fuel with Paytm at any Petrol Pump nearby. The 0% transaction fee also applies to taxis, grocery stores, milk booths and hospital and chemists. This is convenient for users as it is a quick and easy payment method, so the tweet with the hashtag #PaytmKaro received lots of engagement.
Link to tweet with highest engagement
@RelianceFreshIN
To celebrate Makar Sankranti which is the first change in the zodiac after the winter solstice, @RelianceFreshIN ran a #7Sankrants quiz where the 7 questions asked were all related to the different ways to celebrate Makar Sankranti. Winners walked away with gift vouchers worth INR 1,000.
Link to tweet with highest engagement
‘Most Engaging Video Tweet’
@NexaExperience
Maruti Suzuki owns the most engaging video Tweet of the week for the launch of the all new model Ignis as part of their @NexaExperience. To promote the new car, they ran an instant unlock card campaign where users had to click on the button in the instant unlock tweet to view the video.
DHFL wants you to avoid hasty investment decisions using #unlockwithELSS
DHFL Pramerica MF, one of the leading new mutual fund houses has unveiled their latest campaign #unlockwithELSS on their Equity Linked Savings Scheme (ELSS) – DHFL Pramerica Tax Savings Fund. The campaign targets the young investor looking for tax saving solutions through a combination of a web video, web banners, and educational content. This campaign has been developed in-house by the marketing team much like the successful SIP campaign that was developed in house. The campaign will be using social media extensively and has been kickstarted on Facebook and Youtube. The digital campaign will also be complemented by an on-ground activation that will attempt to educate prospective investors on the benefits of investing in a Mutual Fund E.L.S.S.
Watch the spot here:
While most tax-saving products across asset classes focus on tax benefits alone, DHFL Pramerica MF has looked at creating a strong preference for their Tax Saving Fund by focusing on the short lock-in benefit of ELSS. The campaign seeks to further differentiate itself from the generic tax saving communication by using an exaggerated yet unexpectedly humorous approach. The video starts with a young man held captive by a tough-talking, burly looking character and the subsequent conversation between them makes the audience realize that the young man made hasty investment decisions and is now locked in it for a long time. The video then goes on to suggest that one can avoid this situation by investing in a short lock in investment. The same idea has been translated into the web banner campaigns and extended to the activation piece.
Speaking about the campaign Salil Vaidya, director and CMO, DHFL Pramerica asset managers added, “We uncovered a wonderful opportunity wherein a strong consumer insight was not being exploited by the industry and our competitors. Young investors are particularly wary of being locked into any commitment for long without having any exit window. Moreover, almost every tax specific communication has stayed in the generic area of stating the obvious i.e. they help in saving tax. We saw a clear opportunity of differentiating ourselves from other tax planning options and from other mutual fund brands. Our creative idea evolved from this thinking as we positioned our product using an unexploited category benefit.”
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A slightly more subdued Trump faces the media
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Trade Is More Powerful Than Donald Trump
Finally, the endless campaign of words has given way to the first flurry of action, or at least to the first flurry of executive orders and announcements emanating from the White House. Two of those have pertained to trade, with the administration making the U.S. withdrawal from the Trans-Pacific Partnership official and declaring its intent to begin renegotiating NAFTA with Canada and Mexico, the other signatories to that 20-plus-year old agreement.
The death of TPP was criticized by many across both parties who had supported an expanding arc of trade liberalization. Republican Sen. John McCain was particularly blistering, stating that withdrawing from the agreement is a “serious mistake that will have lasting consequences for the American economy and our strategic position in the Asia Pacific region.”
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As for renegotiating NAFTA, no one quite knows what that means or entails. Yes, Trump has said that he would penalize companies for locating factories in Mexico that could otherwise be built in the United States. But it remains to be seen how that can be done without alienating trading partners that together account for more than $1 trillion in trade with the United States in 2016, including more than $200 billion in U.S. exports to Mexico. These tensions erupted in full in past days with Trump’s repeated demand that Mexico pay for the construction of a more extensive border wall, followed by the cancellation of the planned summit between the president and Mexican leader Enrique Pena Nieto and the subsequent floating of a possible 20 percent border adjustment tax on Mexican exports to America. Former Mexican president Vicente Fox announced that Mexico is “ready for the trade war.”
National and global reaction to both announcements has been heated, with repeated warnings that Trump is on the verge of unraveling decades of trade pacts and casting the global economic system into chaos. That is one possible future outcome, but for the moment, that’s all it is—and a highly unlikely one at that. A closer look at what Trump is actually proposing shows that, like many things Trump, his announcements this week are more words than action, that he is sticking to the status quo more than disrupting it. And while that could change—if he wants to gamble with his legacy and popularity—the global trade order is not so easily disrupted. It is controlled far more by the demands and needs of a booming global middle class and a robust affluent class as it is by tariffs or trade agreements.
Withdrawing from the TPP seems dramatic, but remember: withdrawing from a pact that has not yet gone into effect changes does not change the status-quo at all. Yes, the formal and high-level declaration is the most explicit sign yet of a pause, if not a retreat, from the multi-decade official American commitment to expanding global free trade. But that pause pre-dates Trump and would probably have persisted had he not been elected. It is unlikely Hillary Clinton would have been able to fight for the revival of TPP given that she also came out against the pact during the campaign. At best, she might have slowed the process, hoping for a different political climate in late 2018 or early 2019 after the mid-term elections, but that too would have been a sign that the political and social support for increased free trade has hit a rather significant wall—maybe not as significant as the actual wall that might be built on the Mexican border, but significant nonetheless.
Symbolically, the official death of TPP is important. But to ascribe that to Trump is, like many things Trump, to overemphasize him at the expense of larger trends. That is true of renegotiating or updating NAFTA as well. Trade pacts such as the WTO are constantly being updated, and tweaking NAFTA to account for the trade realities of the present does not change the status-quo per se. Trump’s language and occasional threat clearly departs from business as usual, but what he actually can do and has done, far less so.
In a classic case of closing the barn door after the horse has bolted, Trump is announcing an intent to stop jobs from moving from the United States to Mexico after the jobs have already moved there or been automated—and by most economists’ estimates, far more jobs have been automated than outsourced. Yes, as with the much-touted Carrier plant deal that saved 700 or so Indiana jobs that had been slated for elimination with a new production facility opening south of the border, there are a few thousand jobs to “save.” But Mexico has become a vital market for American exports even more than it is a place for U.S. outsourcing. U.S. manufacturing has for the most part been “reshoring” in the past two years, where U.S. exports to Mexico have been growing. In other words, Trump’s proposed NAFTA reforms aren’t going to change much.
That’s not to say that there will be no economic consequences of recent orders and announcements. But they won’t be extreme as you think. For one, while TPP offered the promise of a more fluid economic system that would see trade magnify, that was only speculated. Yes, we know that global trade has ballooned in the past decades with the World Trade Organization and NAFTA and the EU. But the rate of trade expansion has also plateaued in the past three years as global growth has slowed. Many of TPP’s supporters and detractors would appear to believe that trade rises or falls based on trade pacts; that is highly debatable. What isn’t is debatable is that trade rises or falls based fundamentally on global GDP growth and overall consumer demand.
Furthermore, Trump is unlikely to want to take any seriously disruptive actions. Many fear that the president might use NAFTA or his border adjustment tax to throw economic relations with Mexico into turmoil, and, in the spirit that animated withdrawal from TPP, might go on to take such a protectionist approach to China and the world that the multi-trillion-dollar trade economy that currently helps fuel the U.S. economy will be severely disrupted. But if Trump does that, it would be the ultimate self-inflicted blow, and the Trump administration has exactly zero incentive to do itself such harm.
But it’s worth remembering that even if he does go down the path of disrupting global trade pacts, even if the move toward globalization halts, we still cannot return to some imagined past. A return of some manufacturing to the United States is possible and has already been happening, care of technology that makes the cost of making stuff in our expensive country less of an issue. Factories today, however, are output machines, not job machines. A new factory employs hundreds of skilled workers, adept at robot programming or high-end value-add work; it does not employ thousands of shift workers. The myth of manufacturing today is that jobs will come back, but most of the jobs that disappeared over the past decades can never exist again. Period. American withdrawal from the TPP, or changing the terms of NAFTA will not alter that.
More than that, trade across borders and among nations is likely to continue and increase modestly regardless of what the trade regime is as long as the global middle class continues to expand. The United States is central to that, and will be for years to come even if its relative importance decreases somewhat. Governments can add or reduce friction to trade, but demand and cost and meeting the needs of billions of middle class citizens around the world drives where things are produced, bought and sold more than trade pacts and tariffs. For instance, U.S. companies have been selling into China for the past 20 years even as the difficulty of doing so has been significant and the costs have been considerable. China is simply too attractive a market for companies to ignore, even with a government that hardly welcomes foreign competition. The United States is an even larger market, which means that a U.S. that is less welcoming to foreign business is still too desirable a market for foreign companies to forgo simply because Washington raises hurdles.
Sure, the Trump administration can certainly make trade more complicated and costly for both domestic U.S. companies and foreign companies. But trade is not an on-off switch that a presidential administration can toggle at will.
Separate from whether these initial trade moves are wise or foolish, they are not nearly as consequential as the Trump administration would have us believe or as various critics would contend. They are mostly words codifying current trends, rather than actions that set America in a new direction. We live in an elaborate system of trade and tariffs that has many moving parts, tens of thousands of permutations and regulations, trillions of dollars of goods and services. Executive actions are easy; altering the global trajectory of trade, that is an order of magnitude harder.
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