Over the past two decades, we’ve witnessed the rise and fall of multiple online social networks. Nevertheless, unlike its predecessors, such as Friendster and MySpace, Facebook has managed to retain a number one position and continues to be a social networking phenomena.
Some industry insiders still believe that Facebook is slowly dying. But the old, in marketing terms, social media platform continues to disprove predictions and manages to deliver impressive numbers as our 2016 Facebook Report shows.
The story of why the social network continues to be one of the top places people visit is for another time. Discussing social-economic issues, the transformative times of inter-connectivity and why Friendster and Myspace didn’t manage to achieve the long-term success Facebook did is quite an interesting one, but the numbers are not up for debate.
Instead, what we find most interesting is that social media marketers and brands seem to disregard the stats. While most are completely aware of the fact that Facebook videos generate more engagement than regular posts, only slightly above 50% of the pages upload videos. Not to mention, at most times, videos uploaded to the platform are short home-made videos that rarely have anything to do with the actual brand page.
The Problem with Facebook Video
Facebook Video often requires a lot of time, money and effort to create. Not to mention, the man hours and the expertise needed to come up with a professional-looking video.
In fact, as far as we know, most social media marketing agencies tend to be aware of the numbers, but are rarely incentivized to pursue such solutions. The primary reason behind the lack of pursuit is the low-value return in the target expectations of a client.
The most common case with social media marketing clients is that they require the best results at the most affordable price. Today, when huge agencies compete with small-time freelancers, prices of social media marketing services have come way down. This often results in underfunding of advertising and brand projects on social networking platforms. With that in mind, it’s easy to understand that the aftermath is the lack of investment in Facebook video solutions.
Is it worth investing in Facebook Videos in the long run?
One of the main ways social marketing agencies go around this problem is via the long-term investment in video production solutions. Facebook isn’t the only platform that supports video. In fact, both Twitter and Instagram offer video post integration.
What’s more, with a proper video production service, social media marketing agencies are able to expand to provide other solutions such as YouTube content creation. Video production can be a relatively affordable process if you use the right tools and experts.
Nevertheless, while Facebook video numbers tell a nice story, they don’t necessarily show a need for future investment. In fact, in our recent Instagram report, we’ve taken a look at the fact that images generate as much as 31% more engagement than video posts.
That being said, investment into video production isn’t the best option for everyone. Most often, the best solutions would be hiring a third-party for such projects. A strategy most social media marketers take is to first engage with their client and ensure the investment for the project beforehand, to avoid any losses. What’s more, if you have a few clients under your sleeve, you can always come up with a collaboration strategy on bigger projects and present them with the opportunity.
In case a brand is suitable for a long-term video project, such as weekly or daily Facebook video live streams, you can also consider hiring part-time video production assistants or even freelancers to complete such projects. When doing so, make sure to keep an eye on the numbers to calculate whether or not the boost in engagement is worth the investment for your client.
Facebook Videos vs. Facebook Live
According to the latest numbers, Facebook Live is on the rise and it seems to be the better option for most brands. Compared to traditional videos, Facebook Live can lead to better engagement for a lower investment. What’s more, with a dash of creativity it can lead to some extraordinary results.
Take this year’s Subaru marketing stunt. The company has partnered with BuzzFeed to produce a Facebook live marketing video for the #MakeADogsDay event. It resulted in an increase in the overall engagement and reach of the brand.
What’s even better is that investment in Facebook Live can allow you to take advantage of all the benefits that come with Live streams, while at the same time producing Facebook videos. Subaru of America later went to post a video short that got more than 15,000 likes. Compared to the performance of other videos posted by the brand, the increase in engagement with the proper implementation of video is obvious.
Quite infamous on their own, Refinery29 also made a huge marketing move last year and decided to go full-on with video ads. Partnering with SmartWater, the company realized a yoga video project with some big name celebrities and the use of Facebook Live, YouTube and even 360-degree video to increase its reach.
Facebook Video for Smaller Brands and Companies
Nevertheless, the implementation of new Facebook Live and Facebook video strategies isn’t limited to the big brands. In fact, there are quite a few examples of small brands making it big league by taking advantage of the new content platforms and sharing medium offered by the social networking media.
Benefit Cosmetics is a great example of how proper Facebook Video and Live solutions can lead to enormous success. Broadcasting a beauty tips show on a specific date and time each week, the brand managed to achieve a huge audience and currently boasts over 5,9 million likes.
Callaway Golf is another interesting story of how a golf brand managed to transition into social media and achieve over 600,000 likes in two years by taking advantage of Facebook live. In fact, they’ve started their live show back in 2015.
Initially not uploaded on Facebook, but later transitioning into a live stream, the show is hosted by Harry Arnett, the SVP of Marketing and Brand Management.
Of course, Facebook live stream does work for some industries better than it does for others. For example, gaming websites, such as Kotaku, tend to do live streams of gaming sessions with moderate success.
Spinnin’ Records, a record label, also does live streams of DJs playing music at certain times via Facebook. They also use Facebook Live and Facebook video to promote new songs and upcoming events and albums from their artists.
Sports, beauty and cuisine based Facebook pages also tend to have an advantage in the use of video media.
The Mistake Businesses Owners Make Investing in Facebook
Inexperienced with how social media works, many business owners decide to play it safe and bet on the platform they are most familiar with. What’s more, social marketers also tend to be satisfied with their knowledge of the existing platforms and abstain from trying out new strategies on new and upcoming social media networks.
This leads to a freeze of ideas and the flow of content becomes but a stream of predictable patterns. Instead, to be a successful social media marketer, you have to engage with the newest opportunities and push the limits of current social platforms. Successful marketers use online media to its full extent.
Check the numbers and see where people are headed. Then simply take the bus and arrive before them. Welcome your audience with something fresh, new and exciting. It’s all about the creative thinking and riding the wave. Now we know that there are clients that won’t budge and won’t give you the opportunity to unleash your creative freedom. Nevertheless, do show them the numbers and ask them, if not to try out new social media platforms, at least to start taking advantage of Facebook Video and Facebook Live.
We hope we’ve inspired you at least a little bit. If you are interested in reading similar topics, make sure to regularly check out our blog.
What’s more, for more detailed Facebook Live and Facebook Video stats you can show off to your client, make sure to try out the 7-day full Locowise trial that gives you access to some amazing stats for your Facebook page, Twitter account and more.