The Latest in #DigitalMarketing & #SocialMediaMarketing – July 11, 2016
July 11, 2016 //
Here is our take on the most notable stories in Digital and Social Media Marketing from last week.
Coming off of a shortened week due to the holiday, Snapchat and mobile video shared the spotlight. Snapchat pushed out a new feature that allows users to archive content, while mobile video is projected to explode between now and 2021.
Famous for their disappearing content, Snapchat launched a new feature called “Memories” that is more long-lasting. Memories gives users the option to save their own photos and videos so they can create albums or collages, repost them as “flashbacks,” or keep them in a password-protected folder for future viewing. Here’s the launch video from Snapchat:
Snapchat’s new move to provide a feature outside of their core offering is most likely a tactic to acquire older users who are used to other platforms, like Facebook and Twitter, which allow for the collection of photos and videos. In addition, these new features will keep users engaged with the app longer, which Snapchat will surely look to monetize. The more time individuals spend on the app, the more ads Snapchat can serve. With Snapchat opening up their ad platform to more marketers, they need the extra ad inventory to keep CPMs manageable.
According to Strategy Analytics, mobile video revenue is projected to grow to $25 billion by 2021. This growth will be heavily fueled by advertisers who are looking to get in front of the 2 billion or so users who will be engaging with mobile video by 2022.
Over the last decade, mobile video revenue has had a healthy, yet dramatic growth thanks to advertisers. In 2010, mobile video advertising only accounted for 2% of worldwide video revenue. At the end of this year, that number will hit about 40%.
For marketers, the writing is on the wall in terms whether or not it is necessary to start investing in digital video, specifically mobile. Aside from mobile videos accounting for a significant percentage of worldwide ad revenue, your audience is most likely engaging with video. In a study conducted last year by eMarketer, the average American adult engages with over five and a half hours of digital video
content every day. As we shift to a more digital and mobile world, this is only bound to go up.