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Thanks to Technology, Video Creation Has Been Democratised: Q&A with Dror Ginzberg, CEO & Co-Founder, Wochit

As advertiser and publisher investment in video continues to grow at a huge scale, the breaking down of barriers to the development of video content and distribution, as well as the realisation of economies of production scale, are starting to happen. ExchangeWire speak with Dror Ginzberg, CEO and co-founder, Wochit about video creation at scale.

ExchangeWire: Has the power of video been fully realised by advertisers?

Dror Ginzberg: Bill Gates famously wrote that 'content is king' in 1996; and since then marketers and brands around the world, thanks to the internet, have embraced the phrase and put it at the very heart of all their digital marketing campaigns. However, Bill’s memorable mantra finally needs to be updated to include the word ‘video’, as such content now accounts for over two-thirds of all internet traffic.

One of the primary reasons for this profound change is that people are spending much less time watching TV and much more time online instead, viewing video content. This shift is primarily being driven by the millennial generation and given that they are likely to spend USD$10tn (£7.7tn) during their lifetimes, brands are waking up to this potential. Research has highlighted that online video advertising is as effective as TV advertising, and also at a mere fraction of the cost. Most crucially of all, video really impacts if a consumer will buy a product or service, as three-quarters of people decide on a purchase based on the videos they watch on social media; and 46% follow through on purchasing after viewing a branded video on a social media channel.

However, are brands truly realising the power that video has? If truth be told, probably not, for a number of reasons.

Firstly, brands basically have the old mindset that video content is ridiculously expensive, so they have to go for quality, involving huge production values, over scale. With video now becoming relatively inexpensive, this viewpoint has to shift for them to fully tap into video’s potential.

Secondly, when using social media, brands use static content for their posts, which fall down because it can’t be compared to video, but also because they tend to be quite planned pieces of content, with little reactive difference from much content out there. Instead, audiences are increasingly wanting reactive storytelling, which captures micro moments, such as Oreo’s famous Dunking in the Dark moment which was connected to the power blackout at the Super Bowl a number of years ago. Thanks to video becoming so ubiquitous, technology will turn static, turning reactive moments like this into actual video content, which can be properly adopted across a variety of channels in the right format, such as Instagram and Snapchat.

Some perceived barriers to video by advertisers are cost and resource – is this still the case?

Ten years ago this was undoubtedly true. Back then you needed significant budget to work with skilled professionals who were fully trained in creating a piece of video content. Also, video production today is a much less costly proposition than in years past. You don’t need advanced equipment, because so much video is viewed on mobile devices that it’s perfectly acceptable to shoot using a mobile device.

In short, thanks to technology, video creation has been, in effect, democratised.

Wochit has led this movement, as we’ve made social video creation accessible to anyone, with no prior videography experience or skills required. They can create a professional video within minutes through a simple yet powerful editor, which automatically handles post-production. Ours is a unique proposition, as we enable content creators to integrate pre-negotiated, rights-cleared assets from reputable sources, such as AP, Reuters, Getty, and others, into their own content.

The idea, from our perspective, is to give everyone, and every brand, an equal chance at creating impactful social video.

Is the democratisation of video creation the evolution of the classic stock photo?

The analogy may seem apt, but I don’t believe it is.

The online stock photo archive, available to brands and publishers, has really been automated. It is quite easy to find, pull, and publish a picture.

While video has become easier to create, reliance on just technology to make your videos for you will not work. The benefits of this approach, such as minimising costs, may be appealing, but isn’t sustainable for the long run in terms of building a brand and also an audience.

Building such a brand is actually quite tough work, videos that have been created by automation can’t achieve this. The human touch is needed to ensure that your tone of voice is correct, but also that you are able to distinguish yourself from competitors or other brands.

Also, from an audience perspective, the impact of video is simply quite different to pictures. Video actually engages audiences and gets them to take action more than other forms of content. For example, in a Facebook IQ study conducted in the UK and UAE, participants watched video content on Facebook and Instagram five-times longer than they did static content. On Facebook, posts with video also have the highest reach and generate more engagement per post.

How should advertisers approach their video audiences? How do they consume content differently and what should advertisers be mindful of when strategising video content distribution?

Understanding your audience is the most critical thing for brands. You need to know how they consume video content, these insights will then inform your strategy.

For example, from Wochit’s research we found that people love short, sharp videos that are easy to access within their Facebook feed. Also, we see that videos running 60 to 90 seconds got the most views, while those running 30 to 60 seconds received the most shares. Brands should then apply such insights to their Facebook social video strategy.

However, there are a number of actual shortcuts that brands can take regarding their video strategy. As I mentioned, a clear brand style is essential. Moving beyond the basics and to actually creating a piece of video, experiment with formats proven to resonate. For example, a video listicle is a great ‘snackable’ piece of content. Also, if you can pull at people’s heartstrings, then do so. Research has found that some of the best performing videos on Facebook engaged on an emotional level with audiences, which results in more shares, likes, and comments.

In terms of strategising video content distribution, we are once again in a different era. Where publishers were once able to draw audiences to a single portal or site, we’ve now a host of distribution points, each with its own intricacies. Distribution happens across owned, syndicated, and social channels.

The essential thing to keep in mind when it comes to distribution is that a one-size-fits-all approach is definitely not the way to go. Video content for Facebook does not instantly translate to Twitter, or vice versa. Understanding the distribution channel you’re using, and the mindset of its different audiences, is essential. In practice, this means personalising your video for your chosen distribution platform and understanding each channel intimately.

Are there challenges for advertisers to consider?

As video creation has been democratised, a byproduct of this is that competition is now fiercer than it has ever been, which makes the potential to achieve video virality all the more difficult.

Video virality, where a piece of video content achieves over one million views, is what every brand and publisher is now aspiring to, but is also one of the biggest challenges they face. Wochit recently found that just 1.2% of social video on Facebook goes viral in 90 days, based off a sample of 4,000 videos from 100 publishers around the world.

What this serves to highlight is how important getting the basics right, in terms of video strategy, now is.

It is also important to note, for brands, that this video strategy must be flexible. For example, not very long ago, non-horizontal video was universally frowned upon. Vertical video was reviled and square aspect ratio was mostly a distant memory of ageing TV sets. But last year, this all changed. Vertical video came roaring into favour on the heels of the unbelievably successful and fast-growing network Snapchat. Also in 2016, we saw square video begin to emerge as a potential new standard. Square content takes up more visual real estate in many social feeds, notably Facebook. It also displays and plays well, regardless of the device or screen orientation upon which it is viewed. In order to adapt to audiences’ ever-changing tastes, your strategy must be agile.

The costs are brought down with video content at scale, so the advertiser’s bottom line is already positively impacted, but how else should they be measuring success with this type of video strategy?

Brands shouldn’t solely rely on video views. Undoubtedly they are important, however, they should shift their focus to building a large portfolio of videos, with a view towards engagement and audience growth metrics. This can be done on a monthly basis, but I’d recommend doing it over a quarterly basis to pull real and consistent audience insights. Overall, with costs lowered, you can have some video which miss the mark, but that's supported by other, better-performing pieces.

How are advertisers and publishers alike winning with video creation at scale?

Thanks to the explosion in popularity of video, so many brands are now competing for precious, in-feed real estate across various social media platforms. More video means more content, which begs the question, how do you ensure your video is being seen?

My answer is actually to create more and more video. This approach might surprise or even shock people, but think about content marketing. It is all about creating a steady pipeline of engaging and interesting content, this approach can, and should, now be applied to video too.

With video creation costs dropping so dramatically, you can afford to do so. And by creating a varied and consistent flow of video, you can build your brand and also appeal to as many consumers as possible.

For example, a Wochit customer, Time Inc., who practically invented the news magazine, has more than managed to remain a vital part of today’s ever-changing media landscape. Nearly 100 years old, they’ve sustained relevancy through a progressive digital strategy and an aggressive use of video as a path to growth. They’ve gone ‘all in’ regarding video, across all their publications, including marquee titles like Sports Illustrated and Entertainment Weekly. In February of this year, they reported 119 million unique visits to their digital sites, which is nearly double what it was two years ago, meanwhile video views were up 78% year-on-year.