Five Trends that Will Shape Video in 2022
The pace of digital consumption shows no sign of slowing in 2022. During the past year, the world witnessed a lot of change, and one of the most pivotal was that of people spending more time at home consuming and engaging with content through their computers and mobile devices. Social media, too, has evolved from commenting, liking and sharing content to becoming a lifeline to interacting and socializing with the outside world using additional new features, tools and trends.
"As a supportive platform, we will continue mobilizing innovation and value creation,” said a spokesperson from Bigo Live. "The most important key change of the last year is that people are reinventing their lifestyle, adapting behavior, learning new skills, and finding their true passions online and through social media. As we move into a new year, the need for interactive content, live experiences and true immersiveness will begin to regain their status as the most important drivers of digital transformation.”
Of all the content created, video content reigned supreme, and below are five trends that people should watch out for in terms of video.
Trend 1: Livestreaming continues to rise
According to Tech Jury, the livestreaming industry experienced massive growth in 2021, with an increase of 99% between April 2019 and April 2020, and by 2027, it is expected to be valued at 184.27 billion USD.
Livestreaming is very beneficial for both individuals and organizations alike as it demonstrates their credibility and authoritativeness by showcasing knowledge in their respective fields almost immediately, which also helps to turn content sharinginto a progressively social experience. In addition, by presenting content in animmersive way, people and brands are perceived as trustworthy, and available to interact with their respective audiences.
Furthermore, social distancing mandates have made it quite challenging to attend events at full capacity. Now, however, regardless of whether restrictions are imposed or not, your live streaming eliminates FOMO and gives people the opportunity to experience events and social gatherings in real-time, no matter where they are.
Livestreaming can also be used to engage your audience and project an aura of authority by interviewing industry experts, running Q&A sessions, or even hosting live shopping events.
Trend 2: E-Commerce goes Live
One of the latest e-commerce trends that will likely take over the world in the years ahead is Live shopping events with an E-Commerce related Call-to-Action.
In fact, Live-stream shopping has become a key trend in China. The value of China’s live-commerce market has increased by some 280% between 2017 and 2020 and is now on track to become a $423 billion market by the end of next year. According to Mckinsey, some western brands like Tommy Hilfiger and Walmart are also developing their live-commerce events to promote their products, and have extended their livestream program to Europe and North America.
With shopping being a form of socializing, therapy, entertainment, and a necessity for people living within the MENA region, livestreaming will inevitablybecome an alternate avenue for people to conveniently browse for their favorite products and services from the comfort of their own homes.
Trend 3: Video Creators Monetize with New Platforms
Content monetization depends on two things – a platform to advertise and content creators willing to host advertisements. Both of these require attention and engagement to generate revenue.
Regardless of the format, advertisers are willing to sponsor social media influencers and live streamers, which is why direct-to-creator platforms have generated momentum.
App Annie's report estimates that live streaming will power the $78 billion creator economy through 2025, And content creators are at the crux of this growth. Content creator fans can now subscribe to channels or contribute to their favorite creators reducing the dependency on platform specific ad revenue.
Trend 4: Brands Build Through Social Video Marketing
Video is by far the most effective way to transmit and retain information. Viewers retain almost 95 percent of a message presented to them in a video as compared to 10% when reading text.
For brands, marketers who used video grew their revenue 49 percent faster than non-video users.
The key to success with this avenue is to hold a viewer’s attention by providing interesting information, entertainment, or a combination of both.
In fact, social video generates 1,200 percent more shares than text and images combined, and 81 percent of people say branded video convinced them to purchase a product or service.
With all this in mind, video will reign supreme as it will play a vital role within the customer journey to motivate people to purchase products, services, and/or experiences.
Trend 5: Immersive Experiences and Move Towards the Metaverse Takes Shape
Immersive technology continues to evolve as XR (extended reality - a group of related technologies that enable us to blend the physical and digital worlds) has become more accessible to people and is becoming incorporated in different businesses.
From healthcare providers using AR and VR for self-guided diagnostics to retail stores offering virtual ‘try before you buy,' brands across different industries are using it to create virtual experiences. Some of the biggest companies, including Apple, Microsoft and Samsung, are all looking to adopt and introduce their VR, AR, and/or MR solutions to grow the market and capitalize on this demand.
Taking this a bit further, we can expect to see more system architecture being developed and tested for the Metaverse. This month, Meta (formerly known as Facebook) shared a breakthrough in haptic gloves that enable people to ‘touch’ objects in the digital world.
Despite the ever-changing landscape of social media, the key to succeeding in 2022 is to understand the expectations of your audience and know where and how they are spending their time and meet them there with relevant content regardless of whether it is through livestreaming, AR, VR or the forthcoming Metaverse. More than ever, customers need to be the focal point of every brand content, campaign, or strategy put into action to help build a strong presence for the future. By utilizing these emerging social media trends towards long-term planning, social media platforms can keep abreast of the fierce competition and stand out.