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State of the Industry : The Future of Video

In the Homeland that is  Colorado to trekking further West, the Siren Vid team has been attending some outstanding networking events and startup conferences so far this year. Back in August, our Founder and Executive Producer, Jessie,  got to travel to Salt Lake City, Utah for the 2015 Summer Market of Outdoor Retailer Expo, where thousands  of retailers come for the largest collection of innovative gear, apparel, footwear and accessories for outdoor sports products. Just a few weeks ago, Jessie and our Associate Producer, Ellen, were at Denver Startup Week, a startup fest that welcomed a record of 10,000 attendees.

We not only made great networking connections but we were also presented some pretty intriguing and eye-opening  information at the workshops, meetings, and discussions. What we learned is worth sharing because it directly impacts our company’s future and it could have a significant effect on yours.

Unless you’ve been living off-the-grid without any cable, internet connection, smartphone, contact with any means of civilization, and what have you… For the past 30 years, you have seen how quickly technology has not only been advancing, but also how quickly it has been changing the way we live. Even more greatly? The way we consume.

The advancement of technology revolutionizes how we buy, how businesses communicate to us, and even has an impact on our attention span. Back in May, Telegraph UK reported on a research study done by Microsoft that showcased results saying the human attention span has decreased from 12 seconds in 2000 to 8 seconds in 2013 and present . Putting that into perspective, majority of the people reading this blog will not have made it to this point in the article without any distraction like checking your phone or emails. Think about how much content we consume nowadays too. We used to only consume what was given to us through a newspaper and/or magazine subscription. Then, there was TV to feed us shows and commercials through more channels now than we have ever had before, although Americans watch an average of 190 channels. Up sprang the Internet with unlimited and constant information on top of it all, which has led to today, where smartphones allow us to carry that infinite load of content wherever we go. Millennials consume about 5 to 10 hours per week on digital content.

So how are businesses’ advertising tackling this beast where we live in a world bombarded by continuous information with a consumer’s’ attention span of 8 seconds always fleeting? If everything is in such a whirlwind of on the go, how and where do brands stop their audiences to tune in?  

1. Say More By Saying Less. The biggest strategy is to get meaningful content out there that is quick and to the point. You want a creative message that is short, but engages with consumers on a humane level  If you can’t be brief, you’ll quickly lose to your competitors.

2. Find the Window. Who is your audience? The baby boomers? The Gen-Xers? Or the Millennials? Each group majorily consumes their content at certain, but key, time windows during the day. This can greatly affect on where and when you’ll distribute your video campaign.

3. Shifting Those Advertising Dollars to the Web. The future of what consumers will look like is going to be different than what businesses have seen in the past. People are becoming more attracted to online subscriptions than to cable. Businesses are saving chunks of change too by investing into digital advertising instead.

This change can be a scary for some brands, because it is a big and fast moving transition, but it gives hope to a lot of small businesses. Independent filmmakers have more outlets to get their work out there, with better distribution thanks to shareability on social media. Because of this trend, video production equipment costs are also going down while quality is going up, so small businesses can tap into these resources on a more affordable budget without losing the craftsmanship of their content.

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