July 23, 2015: There’s been a lot of buzz about Facebook video capabilities in recent weeks. Facebook has gained the attention of marketers thanks to its recent boost in views, social graph, and several new features that have pushed impressions higher than ever before. While YouTube still has the video sharing “crown,” Facebook is showing the first signs of becoming stiff competition for the video giant. According to Business Insider, native video content generally performs better across several platforms.
While video is indeed a strategy that brands should at least experiment with, is Facebook the right platform for you? Here are some facts you should know:
- Facebook overtook YouTube in video interactions at the end of 2014. According to SocialBakers, Facebook receives 80% of all video interactions. YouTube is still ahead for views, but engagement seems to be the most important factor for marketers.
- Facebook improved their analytics. Introducing a dedicated “Videos” tab in Insights allows marketers to track views and take away more information from their stats.
- Autoplay or bust. Marketers were excited by the introduction of autoplay ads in the Newsfeed, after the introduction of auto play videos in 2013. All users have to do is unmute the ad/video that was served to them, and BAM, you have a view. However, Youtube still boasts an average of over 40 minutes of viewing time on mobile, jumping 60% from last year. Meaining: YouTube still has the edge on longer form video content.
- Facebook knows what you like. A NewsFeed algorithm change has allowed Facebook to track what works best for its users and improve what is shown to them. Facebook can track what users unmuted and watched vs. what they just scrolled past in their feed.
- Facebook is introducing YouTube-like features. Video ads, “watch later” and embeddable video are all features that Facebook is rolling out/working on.
- Vloggers want to be paid. Monetization was one of the last reasons for marketers to flock to YouTube, and the introduction of video ads is sure to change the game for content creators. Currently, Facebook’s video ads only work with a handful of partners, leaving some YouTube stars and brands to remain loyal to YouTube.
- Vloggers may mistrust Facebook’s intentions. Another point, brought up by the Wall Street Journal, is that many YouTube stars seem to mistrust Facebook. While marketers may jump at the impressive new numbers, creatives are hesitating to use Facebook’s native video. A quote from Fred Seibert, of Frederator Studios, sums up the mistrust of Facebook: “To me, they’re not really friendly to independent creators. They like control, and they have a bad history. It makes me wonder if, from a publisher’s perspective, whether we have to watch our backs.”
It will certainly be interesting to see how the “video content” wars play out. Personally, I’m a YouTube fan. In my internet travels, I’ve seen a lot of stolen content on Facebook video that I saw on YouTube or Vine first. I’d also prefer to support a community that supports creators and content discovery over content force-feeding, which just isn’t Facebook (sorry, Mark). As a brand, however, Facebook video may provide the social graph, targeting, and results that content creators aren’t as concerned about.
How do you feel about video marketing? Is your business changing it’s content focus to include Facebook video? Tweet us at @diditmarketing!