iBase Digital Asset Management Blog

Will 2021 Be the Year of the Video?

22nd December 2020

Will 2021 Be the Year of the Video?

Digital marketing and social media are constantly changing. With most customers now online in some form or another, it’s up to businesses to keep up with that change – or face the prospect of falling behind the competition.

While 10 years ago, having an online presence may have been enough, we’re now seeing more types of media deployed to gain that all-important upper hand. Blog posts, infographics and high-quality images have all been valuable tools for companies in almost every sector.

But in recent years, we’ve seen that slowly being taken to the next level with the power of video. In 2021, we expect this to become the norm with which businesses are expected to align.

Looking Back at 2020 – Four Key Changes

The rise of video marketing

Video marketing might sound like a bit of a niche to some people. An unnecessary extra when it comes to your ads or social media campaigns. Unfortunately, that couldn’t be further from the truth. According to a Wyzowl report, a whopping 85% of businesses used video as a marketing tool in 2020, up from 61% in 2016.

More specifically, this breaks down as:

  • Explainer videos (72%)
  • Presentation videos (49%)
  • Testimonial videos (48%)
  • Sales videos (42%)
  • Video ads (42%)
  • The benefits of video

    The same report by Wyzowl also offers some insight into why exactly businesses have started using video. In 2019, 92% of video marketers said they feel the level of noise and competition have risen of late. There were also 47% of respondents who thought video content creation had become quicker and less-time consuming, while 46% said it had become more affordable.

    Once they started using it, it’s fair to say they weren’t disappointed. 87% said video has increased traffic to their site, 95% say it has increased customers’ understanding of their services or products and, perhaps most importantly, 89% said it gives them a good return on their investment.

    The challenge with videos

    The benefits of video marketing are clear. So too is the necessity to get on-board, with so many other businesses starting to use it. However, that doesn’t mean it comes without challenges.

    Despite being considered easier and more affordable, creating video content is still more time consuming and expensive than the production of other media such as images and text. To make sure video is a worthwhile investment, companies need to have a strategy in place to get the absolute most out of their video assets.

    Unlike some other assets, video content can be used again and again for great effect. Explainers, testimonials and ads can all continue to work hard long after they’ve been created. However, as you begin to produce more video content, the challenge becomes storing it.

    For one, video assets are much larger in size than their image or text counterparts. You’ll also need them to be properly organised, so the right video asset can be found for the correct product, platform or purpose.

    A cloud-based digital asset management (DAM) system can tick both of these boxes, with practically unlimited cloud storage which can be scaled up based on your changing requirements. The software also features sophisticated metadata, so you can tag every asset with the relevant information for quick and easy retrieval in future.

    Making the most of video marketing

    Like many innovations, the use of video for businesses is becoming a question of ‘when’ rather than ‘if’. With a DAM system in place, you can make sure you’re prepared to maximise ROI for the largest, most valuable assets.

    To find out more about digital asset management and how iBase can help you, simply contact our team.

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    Will 2021 Be the Year of the Video? | iBase