How can broadcasters, OTT platforms and content publishers engage with consumers who shop on social media?
If you're a broadcaster, media rights holders or content publisher, you need to focus on your social marketing strategy now more than ever.
It’s probably not news, but the reach of social media in 2019 cannot be understated.
Our latest consumer research report found that in the U.S, Australia and across Europe, consumers are watching video more often on social media than pay-TV.
In the UK, social video is catching up fast.
However, this doesn’t mean to say that social media will replace TV or OTT services for video consumption. Our report highlighted a more prominent trend.
The social shift
Our report found that 67% of social media audiences are actively investigating or purchasing products after seeing a related social video.
We found the two biggest reasons consumers watch video on social are to learn about new products and services, and to preview TV shows and movies.
These rank above watching viral videos, friend's videos, or celebrity clips.
As our CEO puts it: "Gone are the days where social video means watching dogs on skateboards."
Social media platforms have shifted to entertainment channels. Social audiences prefer video content from publishers and broadcasters over their friend's tired vlog or blurry video from their last night out.
They’re not looking to watch full-length TV shows or films just yet. Consumers want to access their favorite content in different ways. They want short highlights, best bits, and to gain more access via behind-the-scenes-type content.
If you haven’t adapted, this opportunity has not passed you by. By delivering quality video to social media in real-time and live formats, you can position yourself directly in front of a vast audience and advertise your product all at once. Read more about that here.
But how do you reach the consumers who are most influenced by social content?
The social shoppers
44% of social shoppers have investigated or purchased an online media service after watching a related social video. Almost half of those who use social media to discover new products have been tempted by a new video subscription.
We found quite an even split across age demographics. Many media publishers, with a focus on reaching younger audiences, may want to take note.
The majority of social shoppers are aged over 36. Baby boomers (approx over 50) alone control around 70% of all disposable income in the U.S.
Coupled with the fact that older generations are watching more video on social media than ever, our data suggests as a broadcaster or publisher, you need to re-calibrate your marketing efforts towards older consumers.
Where are social shoppers watching?
It’s no surprise consumers are watching the most video on YouTube. The platform is a staple of any successful video strategy.
Elsewhere, consumers remain loyal to Facebook, which boasts over 2.3 billion active users. The increasing average age of Facebook users is bringing more purchasing power to the platform.
The advent of Instagram Stories and ‘swipe up to view more’ has made conversions on the platform easier to come by, without harming the viewing experience.
Instagram may be restricted by the nature of content many marketers are creating. Many lead their IG efforts with influencer-led campaigns. However, we found endorsements to be one of the least effective ways to engage social shoppers.
What type of video content works?
Only 24% of social shoppers reported responding to celebrity or influencer videos. We found consumers want more direct, helpful content to make an informed decision.
50% reported looking to purchase after seeing a helpful how-to or preview video. This plays into the hands of media publishers. Offering premium content for free on social media is a highly effective way to point consumers to your channels.
The second-most effective way to get shopper attention is to support quality content. Almost 40% are influenced by this content.
This is open-ended, and a way to tailor your marketing efforts to your target audience.
Supplementary content is the way to go. This is a way for publishers to not only publicize their services but monetize social video content through brand partnerships.
This brings us back to the point of consumers wanting more insight into their favorite content. For publishers with limited media rights, this creates an opportunity to join the fun.
You don’t need to show the main event to be a part of it. Social shoppers appreciate authentic, original content. This is where influencers can be highly effective. For example, bring in an influencer or celebrity to talk about their favorite moments during an event, while you watch along with them in a live broadcast.
Broadcasters can re-package their media rights and distribute them in a unique way across social media. DAZN’s use of live video should inspire broadcasters across all genres. During its UFC fight nights, the OTT sports platform live streams the undercard fight to social media for free. Fight fans can watch the undercard with a community of other fans, while the audience is pointed towards DAZN’s paid platform to catch the main event.
Across the industry, broadcasters and publishers are only just waking up to the true potential of social video as an acquisition tool. To learn more, get in touch with us at firstname.lastname@example.org.