As 2014 draws to a close, many business owners go over what they have done over the past 12 months. Whether they are celebrating wins or dealing with losses, it's a time for reflection. This reflection often leads to breakthroughs in strategy and exploring new ideas or approaches that will help take their businesses to the next level.
If your business has been dabbling in digital, online video may just be the golden ticket your business has been looking for that will catapult your brand to new levels in 2015.
If you're a fan of statistics, consider where Canadians businesses and consumers are in 2014:
This year, digital advertising spends surpassed traditional advertising spends (print, radio, television) among Canadian businesses. Video advertising has outpaced overall digital growth rates over the past five years, especially last year which saw online video spending jump 53 per cent.
"The increased ad spend in online video demonstrates the market's voracious appetite for video as Canadians spend more time with online video," says Eric Morris, head of performance advertising at Google.
Canada las long lead the world in internet use, and now we've also doubled our time spent online. Where are we spending most of it? Watching online video on our mobile devices. "We're seeing extremely large growth," says comScore VP of sales Bryan Segal.
More than one billion unique users visit YouTube every month, and Canada has one of the highest per-capita YouTube video consumption rates in the world.
More consumers and businesses are pressing play when it comes to video on Facebook now too. The social networking site now boasts around one billion video views every day. Now you know where your potential customers are.
"Consumers who view video are 174 per cent more likely to purchase than viewers do did not" via RetailTouchpoints Video also offers measurable results.
What more could a business owner concerned about ROI ask for?
There's no question: Canadian consumers have gone digital and what better way to connect with them where they are already immersed, via the most powerful medium available today – video.
Lisa Ostrikoff is a TV journalist and anchor-turned-creator of BizBOXTV, a Canadian online video production, advertising and social media marketing agency. You can find her on Twitter and Facebook.
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