Short Format Video Advertising: Cutting the clutter

Why short format video?

Time is precious and a brand campaign that grabs attention of its target consumers, in a matter of few seconds, makes it valuable. The message not only leaves a long lasting impact but also gives the brand a 'game changer' status in the market. Short format video advertising, of 15 seconds or less, enables brands to achieve this and more. Marketers are now realising its potential for business growth.

Short attention spans

Over the years, video has changed the world of advertising and the format is no more restricted to just a television commercial (TVC).The shrinking attention span of consumers is forcing companies in the fast moving consumer goods (FMCG), banking, financial services and insurance (BFSI), pharma, fashion and cosmetics, entertainment and technology among other sectors, to move away from the one size fits all, cookie-cutter strategy and embrace newer ways and formats of advertising.

Aiding them in this approach to market are mobile application platforms thriving on user generated content (UGC) thanks to their huge active user base. Given the huge potential offered by this medium, industry players need to wake up to reality and take a serious look at this advertising strategy to ensure significant traction as well as higher levels of consumer engagement.

SVF used by brands / Impact

Some companies have taken to this medium for new product launches as well as enhancing visibility for existing ones and the results have been encouraging. In fact, some of the recent campaigns by leading industry players ITC and OLX have clearly demonstrated the effectiveness of such platforms.

The strategy has ensured that the brand’s share of voice remains intact as well as grows considerably from earlier levels. This is crucial for companies and brands particularly in an ever-increasing competitive scenario where market share gains are a true measure of success.

Digital or social media marketing and advertising has empowered businesses and brand custodians with novel and impactful tools to deliver desired outcomes while staying relevant in changing times.

What’s really driving the short video format of advertising globally and in India?

It’s the consumption pattern and behaviour exhibited by consumers in this digitally connected world. The country’s millennial population, who are also well-informed consumers, is a large part of the customer base being targeted by brands. This target group appreciates the fact that a brand is able to directly engage as well as rewards across digital touch points.

Target Consumers

In the past, most players have focussed on urban markets in India when it comes to spending their advertising dollars. However, thanks to affordable smartphones and high-speed data connectivity in the country, consumers in Tier-I, II, III and IV markets have joined the digital revolution as well. Companies have thus started working aggressively towards building their rural consumer base. This set of consumers now, not only have the choice of necessities but also aspirational products.

A recent report by KPMG India aptly quantifies the market for companies. It says, by the year 2030, there will be a billion people in India connected to the internet. Another research by Omidyar Network India indicates that at least half a billion new users will log into the internet between 2017 and 2022 and their usage pattern will be completely different from the existing online users.

The number of digital enthusiasts, at 190 million in 2018, is quite significant even today. These are people growing up watching video content on mobile phones and handheld devices across digital platforms. Interestingly, they are also creating their own digital content and sharing videos that are educational, entertainment related or for that matter ‘out of the box’ compelling advertisements that have had a lasting impact on their minds.

Opportunities come with their own set of challenges and there are some with the millennial and Generation Z consumers as well. These set of consumers are very impatient and will not stick to a video content or advertisement through its entire duration, unless it’s a very compelling proposition. This is where short format videos of 15 to 30 seconds or less come into play.

Conclusion

Short video platforms with a user base that’s spread across the country has thus become the most appropriate medium for companies and brands to engage with their target consumers. One of the reasons for such platforms gaining popularity is the user generated content (UGC).

Taking a cue, companies are counting on this consumer behaviour and launching brand campaigns that prompt platform users to participate and generate their own content using the brand’s theme and products. With short video platforms beginning to play a meaningful role in the brand’s journey, short format videos will be the way forward for companies seeking higher consumer engagement, enhancing visibility and market share through increased sales.

Disclaimer: The views expressed here are solely those of the author and do not in any way represent the views of exchange4media.com