The David versus Goliath Fight of The 21st Century Media Industry
The battle between video and text advertising has been going on forever. It probably started when the Lumière brothers had their first public screening of their short films and it’s been an ongoing war ever since. The world developed and so did film. Amongst the better known formats, we’ve moved from VHS to DVD and nowadays we can watch videos and films without any special devices. It is therefore not surprising that text advertising has suffered from the emergence of a younger and more dynamic player: videos. While text still forms a vital part of modern day advertising, studies show its persuasiveness is impacted because less information is transmitted.
Social Media is Constantly Evolving
Social media is where the youth meet their friends, gone are the days of meeting on the street to play – online chat rooms are the new playgrounds. And with millenials, the first generation exposed to this phenomenon and now rapidly approaching their mid thirties, this online-focused lifestyle has reached the business circles. “Mouth to mouth” was how most information was passed. Today, you either tag friends in posts, or are tagged, or you follow accounts to stay updated, or you yourself are followed. . Companies these days must uphold their online presence in an impressive way and it is not enough to have merely created a website on WordPress. Businesses have got to get with the times and now that means video advertising.
Media Marketing use rises rapidly
The statistics speak for themselves. It is estimated that in the next two years online videos will gain even more popularity and by 2022 make up 82% of all consumer internet traffic. Even now in 2020, there are close to one million(!) minutes of videos crossing the internet every second. Aside from the fact that 72% of consumers would rather learn about services or interesting products through a video – it is also proven that they retain almost ten times as much information from a video than from text. It is therefore not surprising that today up to 60% of both B2B and B2C marketing uses video.
Media Marketing is the way to go
Text may still seem like the stronger one of the both pairs since it covers the worlds of digital and print media alike – but in keeping with the trends, video is definitely the better choice. Companies need to recognise this and adjust accordingly. If this blog post sparked your interest, feel free to contact our team for a quote to keep your company ahead of the competition. If you would like to hear more about different types of videos and what we at Propulse Video offer, check out this post!