August 31, 2023
The 2023 Video Production Landscape: What to Know
As new technology emerges, the video production landscape changes alongside with it. Now, in 2023, video production practices continue to include more high-quality and short-form videos. Marketing efforts toward Generation Z continue to move forward in full force, which is why we see more short-form videos. However, that doesn't mean that the video production service sector is only for a specific generation or ultra-specific uses. Other trends, such as AR and VR, make this a versatile marketing sector. As the year progresses, you'll see these trends and more throughout the digital marketing and video production sphere. Here's everything you need to know about the video marketing landscape.
Previously, technology made it time-consuming and challenging to edit every video properly. This resulted in many videos needing to be of better quality. However, now that more people are up to speed on video editing skills, digital marketers realize the importance of high-quality videos, and technology makes it easier than ever; people aren't going to put up with websites that have low-quality videos. Instead, low-quality graphics will lead to a higher bounce rate. You'll find that users are less likely to follow you or buy your products. Utilize a video production service or agency to ensure you always have high-quality videos to stay ahead of the game.
We are now in an era of short attention spans, leading to short-form videos being the name of the game. Platforms like YouTube, TikTok, Instagram, and Facebook all offer users the chance to view bite-sized pieces of content that can easily be under a minute long. While TikTok spurred this revolution of snack content, it's quickly made its way throughout everything. Take a lesson from this and start making shorter videos. Website owners must include videos that are concise and as short as possible to increase engagement and conversion rates. A video production service can help write a script or create a video under a minute. However, keep in mind your target audience. Boomers still enjoy slightly longer videos.
Livestreaming has become the cornerstone of content for content creators. Audiences feel engaged in events or as though they are with the person, increasing engagement. Livestreaming can include events and include product launches, question-and-answer sessions, and even shopping trips or other personal things. This video content provides creators with real time feedback and instantly allows them to connect with their audience. It is the perfect way to upgrade your business to be more tech-savvy without including AR and VR. A video production service can help you set the perfect background and develop ideas for future live streams.
VR is no longer a thing just for gamers. While virtual reality continues to expand the gaming world, it's quickly becoming mainstream life, too. Virtual reality events let people immerse themselves in the experience without leaving their houses. Platforms like Meta continue to evolve to include virtual reality worlds while virtual reality headsets are flying off the shelves. VR offers a fantastic opportunity for brands to increase engagement, create loyal customers, and offer unique experiences. According to our experts at High Rock Studios, engaged audiences spend 76 times more on services and products online. A video production service can often help you lay the framework you require for these events or point you in the right direction.
The world's shift towards including everyone is a beautiful thing, and it's essential that video production services and companies stay caught up or risk falling behind. Now is the time to ensure that your videos are easily accessible to everyone. Ensure that there is a closed caption option for individuals with difficulty hearing. Audio descriptions and subtitles are no longer the exception. They are considered normal and outdated if you still need them. It's still possible to include these features, but it's essential to do so as soon as possible. A video production service company can help you make the transition. They can provide videos that include diversity and ensure you don't accidentally use exclusive language.
Collecting data and marketing go hand in hand. Data collection allows people to see who their demographic is and tailor their videos to them. This ensures that people stay engaged and that you provide content your audience wants to see. Now that most people have come to terms with data collection, as long as it's not too invasive, video production service businesses are seeing more companies use this data to reach their target audience. If you're new to this, it's time to work with a marketing agency to determine your target group. Then, contact a video production company to ensure your videos are offered what they should. Ideally, you would work with a company that offers video and marketing services for this job.
We will see more ad spending on videos and on video production services this year than in previous years. As television commercials and radio advertisements slowly become outdated, advertisers are turning to short, punchy videos that instantly grab your attention. Companies will continue to spend more on advertisements that involve video production services and can be displayed on popular social media platforms. Ad spending is also projected to increase on streaming platforms, like Hulu, that offer a discounted price for the inclusion of ads. Streaming has quickly replaced cable television, making this a vital step for businesses to succeed.
Generation Z has now turned of age, and they have the spending power that millennials used to want. However, they have shorter attention spans, more vital ethical values, and less brand loyalty than previous generations. Whereas baby boomers were known for staying true to their labels, Generation Z will quickly cut you off for a few wrong phrases. This generation grew up with the internet, making pop-ups and banner ads ineffective. Marketers are using video production and short videos to capture their small attention spans. Personalization makes them much more engaging and engaged people invest further into the brand.
Augmented reality, also known as AR, will continue to be popular. You'll see these services continue with SnapChat Lens and brands that offer product try-ons so users can see what they look like before purchasing a product. However, more brands will start using them as they increase in popularity. Generation Z is now known for using augmented reality more than other generations, making this a helpful marketing tool. However, don't discount the older generations. As they become more tech-savvy, they're using things like AR more than they were in the past. This essential marketing tool is going to continue to increase in popularity.
The video production industry continues to increase in popularity as more brands realize its exceptional ability to connect with younger generations. Users will no longer stand for low-quality videos that are twenty minutes long like they did in the past. Now, it's all about quality and concise content. Check out the rest of our site for more information to keep you up to date.