This has been a full-on video revolution year for marketers! This trend has progressed rapidly and will reach new heights sooner than anyone realizes....
The rise of video isn’t slowing down. From producing videos to distributing and promoting them, the U.S. digital video marketing industry is expected to reach $135 billion this year, according to a new study by mobile video platform Magisto.
The 2017 estimate -- which includes the cost of video capturing, creation, hosting, distribution, analytics and staffing -- is sizeable and would make video marketing nearly as large of a market as digital and television advertising combined. By contrast, advertisers are expected to spend $83 billion on digital ads and $71 billion on TV commercials (a total of $154 billion) in the U.S. this year. On average, each American businesses will spend $20,000 on video marketing this year, the study predicts. Magisto, which is based in Menlo Park, Calif. and makes a web-based video editing tool, published its study on Wednesday based on voluntary, anonymous responses from 545 marketing decision makers at small, medium and large U.S. businesses, surveyed this summer.
The pace of video creation is also accelerating as companies seek to better cater to millennials -- the first digitally native generation -- and to teens. More than half of businesses in the study said they create video content at least once a week, and 26% said they create video content daily. Video marketing also appears to make up a growing portion of businesses’ marketing budgets. 60% of businesses said they spend more than a quarter of their marketing budget on video, and 64% of those surveyed said they create video content internally.
Source: Article author Kathleen Chaykowski, FORBES, view full original article here.
Without question, video marketing is the next big thing in content marketing for 2018. And those that invest now, will reap the benefits later.
The question is: do YOU have this skill set in your promotion toolbox? If not - what's holding you back? and why? Do you have enough resources to study and apply video content in your marketing? You might still have your doubts. Videos are worth consideration for promoting your business.
Not only because everyone’s doing it but because video is one of the most versatile and profitable digital marketing tools out there. Let's explore 8 compelling reasons why you should use video marketing right now (this minute!).... Read Part 1 here.
Urgent Video Services Need?:
LACED Agency offers a dedicated business unit designed to meet your business's video marketing needs. Our seasoned in-house team is skilled in all aspects of production and post-production, and able to execute compelling stories from start to finish. Watch our capabilities video and see what we can do for you.