4 Predictions for the Future of Video Marketing
It’s always risky to make predictions about the future. In December of 2019, predicting what 2020 would bring would have gotten you a trip to the loony bin. Taking the risk, though, here are 4 predictions for the future of video marketing based on how we see our customers using interactive video, the type of intelligence being added to videos through Mindstamp, and macro trends in the market.
1. Professional’ quality video that is purpose-built for interactivity will get dramatically less expensive
As you can see on our demo page, creating hosted or animated videos that seamlessly incorporate interactive elements like buttons, hotspots, images and questions will become less expensive and more accessible than ever. A co-founder just wrote this post about his experience getting a $60 video created in about 3 days on Fiverr. While you can debate the ultimate quality, that was created with very little guidance and very quickly. Price arbitrage is all courtesy of geography right now, but AI is going to be able to create compelling video experiences like this soon (probably already can with some human intervention). Obviously live action video will continue to require significant investment, but for animated and short form hosted video, including explainer videos, the cost is only going to go down.
2. More video everywhere
Because the cost will continue to drop, the pace and volume of video creation will only increase, and video will become the dominant form of sales, marketing, customer education, support training, etc. If you have eyeballs online, you should be thinking about how to engage those eyeballs with video.
3. Everyone will be able to create interactive video
Increasingly seamless online tools like Kapwing make it possible to create compelling video experiences even if you have never set foot in a professional editing bay. Nobody likes to hear that their defensible skill is going to be democratized, but that’s the reality of all technology (even surgeons know that robots will do their job at some level over time, and don’t ask an Uber driver about self driving cars). At Mindstamp we make it simple enough that literally ANYONE can drag, drop and create interactive video elements, from buttons to hotspots to dynamic questions. As a result, video will become increasingly interactive.
4. ‘Interactive’ video will lead to a dramatic increase in personalized, dynamic and optimized viewer experiences
Here is our bias, but we’d put money on it (well, we are in that we’re a startup). Because Mindstamp makes it so simple to make a video interactive through buttons, hotspots, images, questions, pop-out videos, choose-your-own-adventure video linking, etc…..it will be a non-starter that videos don’t include interactivity over time. Viewers will expect and demand it, including personalization, dynamic content that responds to the viewer actions, and contextual content based on your existing knowledge about the viewer. If you’re showing a product, it better link to your shopping cart or product detail page with the viewer’s pre-selected options already in place. If you know a client and have data in your CRM, the video better include personalized elements that show your viewer you’re listening and care.
Net net - the future of video marketing will be that it is cheaper to create the core content asset, ubiquitous in its presence around us, and therefore must be differentiated through interactivity and personalization. Mindstamp makes it possible.