The Elevate Media Podcast

How Video Content is Transforming the Advertising Landscape

August 16, 2023 Chris Anderson Episode 276
The Elevate Media Podcast
How Video Content is Transforming the Advertising Landscape
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Ready for a revolution? Broadcasting from the crossroads of advertising and storytelling, we take you on a journey into the transformative power of video content. Let's debunk the myth that it's all about loud voices or flashy graphics. Instead, we discover the real magic lies in the connections we forge, the relationships we build, and the stories we tell. With Seth Godin's philosophy guiding our exploration, we tackle the reasons behind the rise of video content and why it's become the reigning king in advertising.

We dive into the democratization of voice through YouTube and the growing popularity of live streaming. It's a brave new world where information consumption is being radically transformed. Be ready to have your perspectives challenged as we discuss how video content is shifting the way businesses reach out and the way we all communicate and market. Also, don't miss our segment on engaging with listeners and the power of feedback. Be part of the conversation, join the revolution, and uncover the potential of video content for your business.

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Speaker 1:

Welcome to the Elevate Media Podcast with your host, chris Anderson. In this show, chris and his guests will share their knowledge and experience on how to go from zero to successful entrepreneur. They have built their businesses from scratch and are now ready to give back to those who are just starting. Let's get ready to learn, grow and elevate our businesses. And now your host, chris Anderson.

Speaker 2:

All right, welcome back to another episode of the Elevate Media Podcast. I am Chris Anderson, your host, and today we're going to be talking about the topic of traditional advertising shifting into what is now king marketing and advertising, which is video content. It's becoming a more fascinating world as we're navigating it, and today we're going to explore why video content has become king and so crucial in your business. Now, you know as well as I that traditional advertising has its charm, those catchy jingles with those unforgettable billboards. They were a big part of our lives. You know, give me a break. Give me a break, break me off a piece of that. You can complete the rest, and I'm sure there are others that come to mind. Let me know some that really stick out in your mind below in the comments. But times have changed and they have changed pretty quickly. One of this 85% of all internet users in the United States watch online video content monthly on their devices. Now, that's according to GitNUX website, and it's a stat that's not just remarkable, it's a game changer. Imagine that 85% of folks are glued to their screens, watching videos, absorbing information, being entertained and getting inspired. It's a shift that has transformed how we consume content and how businesses, big and small, reach out to us. So you see, what this means is that it's no longer about trying to shout the loudest or use the flashiest graphics. It's about connection. It's about engaging people in a way that's real and resonant. Think about it When's the last time you truly paid attention to a traditional ad? Share that now with the last video you watched that made you laugh, think or feel something genuine? Seth Godin, a man who knows a thing or two about marketing, once said people don't buy goods and services. They buy relations, stories and magic. That, my friends, hits the nail right on the head. Video content isn't just about selling a product or service. It's about building a relationship with the audience. It's about telling a story that draws people in and makes them part of something bigger. In our own lives, we've seen this transformation. We've seen how videos make us laugh, cry and think. We've seen how they can inspire us to take action, learn something new or reach out to others. And in this fast-paced digital age we're in, it's a medium that allows us to connect on a human level, a level that traditional advertising often misses. So that landscape is changing and if we, as business owners, want to thrive, we need to be able to embrace this shift. We need to understand that it's not just about putting a product in front of someone. It's about creating content that speaks to them, touches and makes them want to engage. So I'm going to dive into a little bit more about this world of video content and why it's become such a powerful force in advertising. So let's talk about something we all love video content. It's everywhere and it's growing like wildfire Netflix, youtube. I'm sure you've noticed how many more videos you watched today than you did in the past. Whether it is YouTube or live streaming, or the latest viral TikTok dance, we're all glued to our screens. Watch behind this exponential growth of video as a medium. Let's start with something that might surprise you. Have you ever considered how you'd prefer to consume content from your favorite brand? Data shows that a whopping 80% of a brand's audience would rather watch a live video than read a blog on their website, and another 63% say that live streaming brings a human touch to the digital marketing. That's right. Live videos are not just a trend. They're becoming a crucial part of how we connect with brands. So if you think about that, live videos are authentic. They're real. There's no editing no second takes. You see the person, hear their voice and feel like you're right there with them. It's like having a conversation over a cup of coffee with a friend. It's that human touch that makes it so engaging. That's something that a written blog just can't replicate. But live streaming is just one piece of the puzzle. Let's talk about the giant in her room. You all have been on there, youtube. Youtube users watch over one billion hours of video each day. Let that sink in One billion, that's more than a hundred thousand years of video watched every single day. That's just mind blowing. So why are we so hooked on YouTube? Is it just the cat videos, although they're good every now and then? No, it's more than that. Youtube has become a platform where anyone can have a voice. It's all there, from cooking tutorials to deep philosophical discussions, from DIY home repairs to high level business strategies. Youtube has democratized information and in doing so it's created a global community where we can all learn, laugh and grow together. You might have heard of a guy named Gary Vanderchuck, and he once said video marketing is the most effective way for you to get someone's attention and engage them for a substantial period of time, and he's not wrong. Video content has this unique ability to draw us in and keep us engaged. It's visual, it's auditory and it's emotive. It's a multi sensory experience that resonates with us deeply on a human level. But let's not forget what this all means for entrepreneurs, creators and businesses. The rise of video content isn't just a fun trend. It's a seismic shift in how we communicate, market and connect with our audience. If you still need to join the video bandwagon, now's the time. Whether you create YouTube content, live stream on social media, video podcasting or integrate video into your website, video is where your audience is, and if you want to reach them, you need to speak their language. The beauty of video is that it doesn't have to be polished or perfect. It just has to be authentic, it has to resonate, it has to tell a story and in doing so, it has to build a connection. That's the magic of video and that's why it's here to stay. So think about what draws you in the next time you click on that video. Think about why it resonates and think about how you can leverage the power of video in your own life, business or creative endeavors. All right, don't go anywhere, as I'm going to continue to explore this world of video content and why it's discerning traditional advertising. All right, so this landscape is ever changing within the advertising world. We're going to take a moment and look back at where we've come from traditional advertising, and I'm talking about those TV commercials, those print ads, radio spots. They were once the tight ends of the industry, but things have changed, so let's discuss how and why that is. So. Think back to the day you were sitting around the TV watching your favorite show with your family, only to be interrupted by these nagging commercials. Those commercials were once the bread and butter of advertising and, believe it or not, television advertising spending in the United States amounted to $66.6 billion in 2022. That's a billion with a B, but this is where it gets interesting. That spending is actually expected to decrease to just over $61 billion in 2023, according to Statista. Now, why is that? Why is this once dominant force seeing a decline? Is it just because we're all cutting the cords and streaming our favorite shows online? That's part of it, but there's more to the story. The thing about traditional advertising is that it's a one way street the ads are broadcasted to us and we have no choice but to consume them. We're living in a different age now, where we crave connection, authenticity and engagement. We want to be part of the conversation, not just passive listeners, and that's where traditional advertising often needs to catch up. But let's dig just a little bit more into this. Have you ever used an ad blocker on your browser or clicked skip ad on your show? If so, you're not alone. Ad blocking and skipping grew by staggering 41% globally within a year, according to Blockthrough. Now think about that. We live in a world where we're so inundated with ads that we're actively seeking ways to block or skip them. That's a telling sign of how traditional advertising is losing its efficiencies. Don't get me wrong Traditional advertising isn't dead. It's not going away overnight. There's still value in a well crafted TV commercial or a clever print ad, but the landscape is shifting and businesses relying solely on these traditional methods find it harder to connect with their audience. So what's the key takeaway here? Well, it's a call to adapt. It's a recognition that the old ways of doing things may not cut it anymore. The decline in traditional advertising isn't just a trend. It's a reflection of a broader shift in how we communicate, consume content and engage with the world around us. The rise of video content, social media and influencer marketing aren't just buzzwords. They're the new frontier of advertising. They're platforms that allow us to connect, share and be a part of something bigger. They're platforms that recognize we're not just consumers. We're people with voices, opinions and a desire to be heard as entrepreneurs, creators and consumers. We need to recognize this shift. We need to understand that the rules of the games are changing and we need to be willing to adapt, innovate and embrace this new landscape's opportunities. So, as we look into the future, let's remember past lessons. Let's learn from the decline of traditional advertising and seize the opportunities that lie ahead. Let's be bold, let's be creative and let's be willing to take risks, because, at the end of the day, advertising isn't just about selling products or services. It's about building connections, telling stories and creating experiences that resonate with our audiences. So we've talked about the rise of video content and we've gotten into the decline of traditional advertising. But here's a question for you Is it an either or situation? Do we have to pick one over the other? Or is there a way to combine the old with the new to find a balanced approach that resonates with today's audience? What do you think? Let me know below in the comments. So let's dig into it. First, let's acknowledge something powerful Videos that are embedded in emails actually increase click rates by an astounding 300%. That's according to Biteable, and it's a testament to the power of video to grab attention and engage. But why is that? When you think about your inbox for a moment, you know it's flooded with text-heavy emails that you skim through or ignore altogether. But when there's a dynamic visual aid like a video in the email, it stands out. It's like a breath of fresh air in a sea of monotonous text. And it's not just about being flashier eye-catching. It's about creating a more engaging and immersive experience. And here's another exciting stat for you 64% of consumers purchase after watching a branded social video, according to PR Daily. Now, that's powerful. It's not just about getting eyes on your content. It's about driving action, generating sales and building your business. But here's where it gets interesting. Traditional methods are still relevant, so we need to rethink how we use traditional methods and integrate them with these newer forms of content. Think about print ads, for example. On its own, it might struggle to stand out in today's digital world, but what if you combined the traditional print ad with a QR code that links to a video. Suddenly, that print ad comes to life, it becomes interactive, it invites the viewer to engage in a whole new way. Or what about a radio ad? On its own, it's a fleeting moment in somebody's drive to work. But what if you use it to drive listeners to a YouTube channel where they can engage with your content more deeply? Suddenly, that radio ad isn't just a one-off message, it's a part of a broader strategy that combines the reach of traditional media with the engagement of video content. Tom Fishburne once said the best marketing doesn't feel like marketing, and he's right. People don't want to be sold to, they want to be engaged, they want to be a part of a story, part of a conversation. And that's where this integration of old and new shines. It's not about abandoning the tried and true methods that have worked for years. It's about reimagining, re-invigorating and integrating them with the tools and platforms that resonate with today's audiences. So as we look to the future of advertising and marketing, let's not get trapped in a binary choice between old and new. Let's recognize that there's a rich tapestry of opportunities out there, a blend of traditional and modern methods that can work together to create something truly unique and impactful. Let's recognize that the landscape is changing, but that doesn't mean we have to throw out everything we know. Instead, let's build on it, learn from it and create something that resonates with the people we're trying to reach, because advertising and marketing are about connection. They're about understanding what makes people tick and finding ways to engage them on their terms. So that's all for today's episode. I hope you've learned a little bit more about traditional marketing versus video content. We've explored the rise of video content, its undeniable power to engage and connect. We've looked at the decline of traditional advertising not as a failure but as a challenge and an opportunity to adapt, and we've gotten into the fascinating world of combining both of them together, finding that sweet spot where tradition meets innovation. I want to leave you with this it's not about clinging to the past or recklessly chasing the future in today's ever changing world. It's about finding that balance or harmony, understanding your audience and being willing to take risks. It's about recognizing that the tools and techniques we use are merely vehicles for our message, and it's the authenticity, the creativity and the connection that make a difference. Again, remember Tom Fishburne's words the best marketing doesn't feel like marketing. It's about relationships, stories and experiences. So, whether you're a seasoned entrepreneur, a budding creator or just someone interested in the world around you, I hope today's conversation has sparked some ideas and inspired you to think differently. And please make sure to rate and review the podcast. It helps give us feedback to continue on. Reach out to me on social media at christanderson If you have any questions. I love engaging with you there and chatting, and I still personally answer those messages. So reach out. But until next time, make sure to go out there, keep elevating your life, elevating your brand, and we'll talk to you again soon.

Speaker 1:

Thank you for listening to the Elevate Media podcast. Don't forget to subscribe and leave a review. See you in the next episode.

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