The State of Video Advertising: 8 Essential Trends for 2024

The year 2023 will be remembered for several notable events, like the rebranding of Twitter, Brendan Fraser’s Hollywood comeback, and the rapid rise of AI chatbots like ChatGPT. These technological advancements are driving major changes in marketing that will likely continue into 2024 and beyond.

This article offers an in-depth look at the future of video marketing by highlighting key insights that are transforming the industry. In today’s digital landscape where online engagement is vital, comprehending these trends and strategically incorporating them into marketing campaigns is crucial for businesses aiming to remain competitive.

We will not only highlight these trends but also discuss how they can be effectively utilized in your digital marketing campaigns.

Video Marketing Statistics for 2023

To accurately predict the critical marketing trends and insights that will shape 2024, it is instructive to first examine the most significant developments that defined and transformed the industry in 2023.

Average Internet Users Watch Lots of Videos

Consumer-created video content is rapidly dominating online activity. Current projections estimate that user-generated video will constitute over 80% of all internet traffic by 2025. Additionally, video streaming services are taking up more bandwidth, expected to make up a staggering 91% of total internet traffic by 2024. 

Videos Are Dominating on Social Media

Video content has experienced meteoric growth on social media over the past two decades. This visual medium first gained traction when platforms began launching video functionality in the 2000s, and has since taken the social world by storm. Looking ahead, short-form video powerhouse TikTok is forecasted to lead video consumption in 2024, buoyed by an enormous base of over 1 billion active monthly users. Moreover, video has become ubiquitous across social platforms, with 50% of all social media users now watching video content.

Marketers Find Videos To Be Useful

Video marketing has proven enormously effective at driving results: An overwhelming 97% of marketers affirm that video content has boosted users’ comprehension of their products and services. 

Additionally, 76% report that video directly helps escalate their sales and revenue. This resonance stems from the impact visual content has on consumers’ decision journey – 90% state that video can guide them toward ultimately making a purchase. Simply put, video wields tremendous influence throughout each stage of the buyer’s journey, making tangible improvements in understanding, consideration, and conversion.

Going into 2024: 8 Trends to Keep Track of

The digital marketing landscape has undergone an evolution as social media platforms have emerged as vital content hubs driven by video. This shift towards video reflects the seismic change in marketing strategies aimed at reaching coveted target audiences online.

Looking ahead, 2024 expects to see marketers leverage these social platforms to an even greater extent by prioritizing video-centric messaging over traditional text and image posts. Here are 8 trends in video that marketers should keep in mind.

1. Silent Videos With Captions

Most social platforms automatically play videos silently, underscoring how vital subtitles have become. With sound off as the default, a staggering 85% of Facebook videos are viewed muted.

This silent consumption demands that video content be just as understandable and impactful without audio. Subtitles bridge this gap in reach and accessibility. By adding text overlays, brands can share content that resonates universally – with both users watching quietly in public and those who are hard of hearing.

2. Video SEO Enters the Mainstream

Video SEO is crucial for ensuring your video content ranks highly in search engines and gets viewed by your target audience. Optimizing factors like titles, descriptions, tags, closed captions, and transcripts helps search engines understand what your video is about so they can match it to relevant search queries. 

It also makes it easier for viewers to find your content when they search for related topics. Implementing video SEO best practices improves your chances of ranking on the first page of search results, driving more traffic to your videos.

3. Short-Form Videos

The digital marketing landscape has seen a significant shift with the advent of short-form videos. There are many reasons that contribute to the growing popularity and usage of these types of video content. 

Notably, short-form videos are easy to consume, memorable, and shareable, making them ideal for users who prefer fast-paced and concise content. Also, in an era where attention spans are increasingly limited, these bite-sized clips cater perfectly to time-sensitive internet users.

4. Unedited Ads

A growing trend in video advertising is the proliferation of ads made to resemble user-generated content filmed on smartphones. Rather than polished, professionally edited commercials, many brands are now creating video ads with an authentic, raw aesthetic. The goal is to make the ad content seem organic and native to the YouTube platform, capturing viewer attention in an increasingly commercial-wary environment. 

Numerous video ads today consist of “real people” casually talking to a phone camera about a product, or demonstrating the product in their home or office. These rough, seemingly unscripted videos aim to blend in among the millions of amateur YouTube videos instead of feeling like an interruption.

5. AI-Generated Video Content

Artificial intelligence and automation tools are revolutionizing video marketing by enabling marketers to produce video content exponentially faster. Advanced AI features like speech to text transcription, text to speech voice overs, and auto-generated subtitles are creating massive efficiencies in video post-production. 

Meanwhile, innovative video creation platforms equipped with intuitive templates, stock media libraries, and smart editing functionalities are allowing marketers to develop entire videos in minutes without technical expertise.

6. OTT Platforms

The rise of on-demand streaming has upended the traditional television landscape. As cord-cutting households abandon cable for internet-based services like Netflix and Hulu, a vast audience has migrated online. This seismic shift in viewership provides advertisers an opportunity to engage with consumers on their preferred streaming platforms. 

Read More: What is OTT Advertising?

Over-the-top (OTT) video advertising enables brands to serve video promotions to target customers across smart TVs, mobile devices, games consoles and other connected devices where streaming content is viewed. Unlike broadcast television, OTT offers superior audience targeting abilities based on first and third party data on viewership habits and consumer behavior.

7. Virtual and Augmented Reality

Emerging immersive technologies like virtual reality and augmented reality have opened up new creative directions for video marketers. By transporting viewers into a digital world or overlaying digital elements onto the real world, VR and AR video content creates novel experiences that foster engagement and interactivity. This allows video marketers to tell stories, showcase products and connect with consumers in more memorable ways.

8. The Rise of Explainer Videos

Explainer videos have exploded in popularity as an effective video marketing technique for brands and businesses looking to clearly communicate products, services, or ideas. 

These short, animated videos use visual metaphors, bold graphics, and succinct narration to illustrate complex concepts or highlight product value propositions. Explainer videos help simplify information that might otherwise feel abstract or confusing to customers.