New Technologies in Video
The impact of video as a marketing asset can be backed up by these
- 80% of consumers went on to buy software or an application after they watched a video about it.
- 96% of consumers claim they have increased the time they spent watching videos.
- 94% report watching explainer videos to learn more about a product.
- Video ads now account for more than half of Twitter’s ad revenue.
- By 2022, 82% of all internet traffic will be comprised of video views, that’s 15 times higher than what it was in 2017.
Audiences want more and more. And the technology that is coming through is poised to fulfil that demand.
What are the next big shifts that we can expect in the world of videos?
5G will allow the required channel to deliver technology that already exists but cannot be used owing to latency issues. 5G is expected to reduce latency by 10 X. Increased bandwidth capacities owing to 5G will enable the required landscapes to introduce new technologies. Chipset makers are also looking forward to introducing new, more powerful processors and hardware. Qualcomm talks about their 6DOF technology that will surprise us with eye tracking, hand tracking and much more.
5G will also help marketers provide better ad delivery, tracking will become more granular. Access to more sophisticated real-time analytics shall build a more personalised relevant experience.
Proliferations of formats
This new paradigm will also allow for growth in the adaption of augmented reality and virtual reality content. Marketers will be able to create bold experiences for their audiences. We already see companies like Matterport helping generate 3D experiences for the real estate industry. The whole try before you buy experience can be availed from the comfort of one’s couch. We have seen the cosmetic and apparel industry coming out with apps that help you try their products virtually. However soon the experience is going to be at a different level and in high definition.
The notable bit but is that video as a format will undergo a change blurring the lines between graphics, motion and sensory experience.
Shared experiences on video
The distance, empty stadiums we see due to the pandemic is a void that technology is seeking to fill in. Shared viewing experiences are coming to be.
Gamers have known the experience for much longer as they share their views while playing online with other distant gamers. This is something that is coming through for normal viewing as well. In some crude ways, we do see people sharing their views through zoom, FaceTime, Netflix, Party etc. However, the OTT works are taking cognisance of this increasing need and are working on devising better experiences.
Especially for the sports category where we see empty stadiums, broadcasters are working to develop technologies where viewers could have a sense of shared experience. Building video experience around our social needs is something that all OTT companies take very seriously.
We have witnessed an increasing host of service providers that allow you to develop interactive videos. With long-form content, one could gamify the script and achieve high interaction. It is also possible to gather analytics from such content.
Interactive videos are more engaging and provide a higher conversion rate by 11%
From being a one-way passive communication, interactive videos convert videos to an active engaging format. Initially, there were some technology adoption issues with such videos not working on IOS and certain browsers. But with the advent of IOS X and HTML 5, this has been mitigated.
The world is changing as far as videos are concerned. We have possibilities in all forms. Better environment with 5G, better infrastructure with new chipsets, better experiences with interactive, virtual and augmented reality-based videos. Combined these new techs provide a great opportunity to present a whole new brand and marketing experience.
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