Video Marketing in 2024
Video marketing has been a key resource for marketers and sales leaders in effectively reaching their audience. Like with any sales tool, staying up to date with the current trends is important, but looking forward is also important if not more so. Preparing strategies, deciding how budgets are allocated, are all important things that happen especially around now—in Q4.
While it's not possible to predict the future, we've put together how we think current trends will change, and what new ones might form in 2024. Factors that influence this include technological progress, but also cultural changes with how we consume content and react to it.
This is what we think will be key for video marketing in 2024.
1. More videos will be created by artificial intelligence
Videos that were previously created by solely humans, whether they be long form or short form content, will be increasingly created either entirely or largely by AI tools. In even the last few months, we've seen leaps and bounds in the progress of these tools, and as they become more refined and accessible, it'll be far easier for anyone to create videos that may have previously required a small team and a few thousand dollars to create.
2. Meaningful and authentic content will become more valuable
Directly tied to the growth in videos created by AI, it's inevitable that there will be an explosion of videos that repurpose other videos into new ones, or concepts that aren't very unique or compelling—largely because it'll become much easier to make them.
Being able to rise above the noise will be more important than ever, and it may not be as simple as just bigger budgets. Spending more money doesn't necessarily make a better video, and when deciding your video marketing strategy, keeping this in mind will be important.
3. Budgets will favor videos directly tied to increasing sales
Globally, countries, companies and people are undergoing challenges due to the changing economic conditions. Political and regional instability has further compounded this uncertainty, and decision makers deciding how budgets for 2024 will be spent have a hard task ahead of them.
This is anecdotal, but based on conversations we’ve had with marketers, there’s less of an appetite for videos that focus on culture and improving company appeal when attracting talent. With a record number of layoffs, we think companies will be restrained with any hiring they do, and likely not have any issue attracting applications due to the current state of the job market.
Videos that are more sales focused, such as customer stories, brand videos, and product videos, will be more important as companies look to survive amidst the tougher business conditions that are likely going to get worse going into 2024.
4. Video marketing will be more appealing due to the lower risk
This doesn’t apply to all forms of videos, but for many companies who don’t have large budgets to experiment with, video marketing is a safe investment for a few reasons:
There’s no recurring cost - there may be costs if you choose to spend on advertising to drive traffic to your video, but the video itself does not carry ongoing costs to maintain like some marketing tools might.
You can use it for a long time - some videos can last for over a year if not more, even if your product has been updated or revised, if the messaging is done right, it’ll either still be usable or be easy for you to edit after the fact with shots of the latest product.
It’s still really effective - 89% of people say watching a video has convinced them to buy a product or service.
It’s super accessible - there’s a lot of new technology that’ll change how marketing is done forever—but it might be some time before that sort of change is accessible by the average person, and even more time before it’ll outperform videos that can be viewed both on your computer and mobile phone.
Investing in video is less risky - being content first and not platform first can help you avoid all your work going to waste, which is a real risk when governments review banning certain platforms or others undergo dramatic changes in leadership.
How can you plan for video marketing in 2024?
As demonstrated by the meteoric rise of ChatGPT and other AI tools, anyone who promises you certainty more than a few months out is likely not very reliable. That said, there are timeless ways for you to plan your video marketing and be adaptable no matter what happens.
Focus your messaging on value, not features
Apple famously never leans on features as the core language in their marketing. They instead prefer to talk about the value and experience you get from using their product. This same approach can be applied to how your videos are produced—so even if you launch a new version of your product, the messaging of your can still be effective and increase the ROI of your video.
Identify specific topics or messaging for short form edits
If you’re creating a longer video (of 60 seconds or more), you may want to identify at least one section or two that focuses on a specific topic that can be trimmed down to shorter cutdowns, instead of having the whole video be necessary for a single message. You may not be ready to use them right away, but having that option to produce new shorter form videos can further increase the mileage out of your content.
Be authentic
AI tools can greatly increase the volume of videos you produce, but the same applies to everyone else. Instead of trying to compete on quantity, focus on ‘sounding human’ with your videos and you’ll always resonate with your audience no matter what.
We hope this helps you view video marketing in 2024 with a little less apprehension! If you’re looking to leverage video but lack the time or resources to manage it, drop us a line! We’d be happy to chat.
Thinking of telling your story through video?
Great video knows no borders, and the same can be said for our team. We go where you need us and bring a complete start to finish video production process that’ll help you achieve your goals.
