During Michael Stelzner's keynote at Social Media Marketing World we learnt a key lesson from two of the biggest brands in the world. Disney and Apple.
But before we get into that let's start with a key statistic which might blow your mind, and will hopefully make you think about how you position your clients on social media.
Only 50% of consumers trust businesses
People around the world are losing trust in marketers and the platforms we use and that should be a big worry to us as social media marketers.
Add that to the fact that organic reach is declining and ad costs are rising and we have a big problem as marketers.
So we need to look to the biggest brands in the world and learn from what they are doing in their businesses as well as their marketing.
According to Variety, consumer spending on streaming video is going to jump by 29% in 2020. By 2024 there will be nearly 1billion people across the world paying for on demand video streaming services.
But take a look at the chart below:
- Instagram (stories & IGTV)
We are all watching more videos.
How is all this relevant to us as social media managers?
Simple. It shows us that as consumers that we love to watch video, yes we knew this already, but it's not declining. It's increasing.
So, what are you doing to incorporate that into your marketing strategies for clients?
Video isn't new, it has been around for a long time. But most businesses still many haven't built it into their marketing strategies. Now is the time!
Video is your opportunity to rebuild trust with that 50% that don't currently trust your business (or your client's).
If you can create great video it will help you to overcome the issues with decline in reach and high advertising costs.
Great videos keeps people on the platform, which keeps the algorithm happy.
Great video > longer sessions > more engagement > more reach > lower advertising costs.
But where to start?
Start by figuring out how to include story telling in your marketing. Story telling means you can take those fans you already have and turn them into evangelists for your business.
It was filmed in one morning. With a budget of under £150 but it told a story. And that is where the power was. It went viral, ended up in the media across the globe and people now remember it. It was even shown at Social Media Marketing World in San Diego. Not bad for a small, family run, hardware store in Wales!
‘When people get to know the people behind your product, and how it's made, they talk about you more.'
If you tell a great story your brain releases cortisol, dopamine and oxytocin. Which is important because:
Cortisol helps form memories – we want to be memorable!
Dopamine keeps us engaged – engagement is key to marketers.
Oxytocin helps with empathy and connection and we want to create connection with our customers, especially those 50% that distrust us.
How can you get started with this?
Start by showing up on stories.
Everyone has 15 seconds to create an Instagram story. It doesn't need to be perfect. It just needs to be done.
You don't need to do a Disney and go all fancy production, but you do need to show up. And this goes for your clients too. Stories are the experimental playground for video.
You can do this on Instagram and Facebook already, LinkedIn are rolling out stories and Twitter are about to do the same.
And then what?
It's also time to embrace TikTok (sorry to break it to you!)
‘But only kids use TikTok'
Newsflash my friends this is no longer the case! In 2019 there were 738 million downloads of the TikTok app!
49% of users on TikTok are 35 and older (75% are over 25) so this is no longer just for kids. Your people ARE on TikTok.
Stories are just about us showing up and talking, TikTok is more about entertainment (right now) in short video format. You can use the short videos to create a trailer for your business. Share quick tips or show behind the scenes of your clients products.
Why? Because TikTok holds our attention.
The algorithm on TikTok is designed to continuously learn what we like and show us more of it in the never ending newsfeed. It's why we lose hours to video on the platform, because it's constantly showing us what we want to see.
TikTok is the highest valued startup in the world. It's not going anywhere anytime soon. And if you want to stand out from all the other social media managers out there you can still be an early adopter and become a TikTok pro.
Your marketing peers are not using TikTok, which presents a huge opportunity for you. Consumers are on the platform, but businesses aren't.
But the key thing to remember with YouTube is that people go there with the intent to watch video. They don't do that on any other platform.
YouTube has higher retention rates, and videos are recomended to viewers. So if you are already using video for your business, or your clients then it might be time to make YouTube your next step.
It's time to embrace it.