Video Content Set To Rule In The Digital World in Post COVID-19 Era

The world will not be the same post-covid-19 pandemic, the entire dimension of handling business as well as workplace will witness a drastic change. People will more and more rely on digital platforms as businesses will move online and workplaces will get empty, and the primary component in the world of digital will be the videos as online digital components will see an increase in the number of users, videos will start having an important place in the digital ecosystem. 

Videos have proved themselves to be a savior for corporates as figures show that videos as contents have the capacity to bring the best Return on Investment (ROI) for marketing professionals around the globe, not only that the revenue generated from videos take a leap of 49%  faster than those who do not involve video. Short crisp and meaningful videos which can create a vibrant impact, is what the market now is looking forward too. The only challenge that comes forward is how to present brands and products through the videos. Thus digital platforms like Facebook, Instagram, YouTube, Twitter, LinkedIn has now become an alternative to traditional advertising. The excess use of smartphone is also a notable change which has spiked the consumption of videos and has made it a very preferred form of communication, and with time they have proved themselves as the best form of communication, especially for the youth. 

Fictionalized videos in the form of storytelling have also evolved as a great way of communicating government schemes. These videos have brought down the barrier in communication and have been greatly accepted by the illiterate section of the population as they could easily understand the message brought before them through visuals. 

India ranks among the highest per capita consumption for online video, as per the reports of Ernst & Young report, 325 million people viewed videos online in 2018, a growth of 25% over the last year. With the growth in the usage of smartphones and widely growing broadband connections, viewers will involve themselves more towards online digital viewing. As per estimates, an average person will spend 100 minutes daily for watching online videos in 2021. In such a situation mobile phones will play a pivotal role in surging up online viewing as per the data,78% of digital video viewers worldwide regularly use mobile to watch online content.

The increasing preference for online videos has created an added issue of competition in the market , with less restriction on time duration these videos run long, so marketers need to understand the expectation from the customer’s point of view while formulating such videos. Social media craze among people has triggered the feature of live video, though not very popular if used strategically they can prove to build a community for the brand. Facebook and Instagram come with live video options and over a third of marketers choose live video for their brand.  The data states that In 2018, digital media grew 42% to reach Rs 169 billion, with the growth in infrastructure the 5G will be a game-changer in this as it will give better connectivity and it will ensure a better video consumption targeting bigger contents and sports across cities and rural markets

Indians have started to invest in online content which was not so prevalent before. E&Y, reports states that the digital subscription market took a growth of  262% to reach Rs 14.2 billion, the majority of them were video subscription, besides this, growth was also recorded in paid video subscribers, as grew from around 7 million in 2017 to around 12-15 million in 2018.

So it can be concluded that whatever be the sector be it customer support, information dissemination or public service messages videos have come out to be the most sought after medium for communication. People tend to recall messages better when they come across videos and this opens up a new path for effective video content creation. 

Relevant data can prove themselves useful even when video creation is in question, a good data ensures the content to be more meaningful and relatable for the viewers. Marketers aiming to get the best ROI must also keep in mind to target their part of communication through videos at the right time and to the right TG. 

The data of  Zenith, published by marketing charts said that the online video viewing and ad spend by marketers for online videos is amounts to be US$16 bn in 2021 as against US$45 bn in 2019. On the other hand, the ad expenditures made on TV dropped from US$183 bn to US$180 bn.

With the number of minutes spent daily watching online video spikes, we, at Banyan Infomedia, have started a discussion with our associates in Thailand, Malaysia, Sri Lanka for expanding our footprint and carrying our specialization overseas. We are on an expansion mode and open for partnerships and acquisitions.

The Banyan Infomedia Team is a blend of youth and experience, best in the industry, having diverse experience in Media, Publishing, Broadcast & Film Production.

Deepak Oberoi, Director, Banyan Infomedia

Deepak Oberoi is the Director of Banyan Infomedia Pvt Ltd. He is a pioneer in devising marketing communication strategies for brands in all categories across geographies in India and the international markets. He is an ocean of knowledge and his forte has been creating successful brands ensuring engaging participation and retention while taking the business to new peaks. A seasoned professional with acumen in research, Deepak’s creative ideas, and exemplary vision have helped various brands travel and reach deeper amidst the audience.