What have been the latest developments at Brightcove?
Brightcove invests a lot into research and development to make sure we can keep our customers ahead of the curve. For example, we recently launched a service that optimises video delivery into China to allow organisations to distribute their video content in a key market.
We’re also seeing renewed interest in our core services like Brightcove Video Cloud, as more organisations put an emphasis on video content and realise that video is the best way to engage with their customers. It’s clear to organisations now that video is a need to have, not a nice to have.
How has the coronavirus pandemic impacted how organisations are embracing digital video experiences?
The digital transformation has been in progress for years, with early adopters reaping the benefits. However, I will say the pandemic has been a catalyst for late movers. As the capabilities of the digital world evolve, the speed at which organisations adopt and develop new capabilities has become a competitive advantage. The delivery of digital projects used to take a couple of years or more, as analog operations were digitised. Then those projects shrank to something like six months as organisations saw the competitive advantage of being digital first.
The pandemic has shortened that even further. Organisations now have to move as fast as audience behaviour, which can shift in as quickly as a few weeks.
Outside of the speed needed to meet audience changes, the pandemic has accelerated mobile. In our Video Index we track our global audience and how it consumes video. Year on year, video consumption grew 114% overall. What I find a little counterintuitive is that video consumption on mobile devices grew 136%. While relatively stationary during lockdowns, we stayed on mobile.
The Melbourne Symphony Orchestra recently implemented Brightcove video technology. To what extent do you think video experiences are becoming increasingly essential for companies?
During the pandemic we’ve all experienced online video in new ways. Gigs, comedy festivals, even traveling have happened virtually. It might feel like this is a new beginning for video.
However, this isn’t true. It’s been essential for a long time. How did you watch Felix Baumgartner’s jump from space? How did you see Elon test Tesla’s cyber truck? Successful brands and organisations have long known the value of online video content. We are seeing the evolution and expansion of video.
The only difference now is that our audience is more comfortable with an entirely digital video experience.
Are there any other sectors that are strongly embracing video?
Although events and live experiences are the most visible adoption of video, e-commerce is also maximising the value of video.
For me, e-commerce is any commercial value of your web content. I know that’s a very broad definition but let me explain. Most people think of e-commerce as retail or selling to individuals but I think of it as selling through the web. Literally electronic commerce. For example, the goal of a product page for a free standing, high output commercial printer is the same as for a pair of luxury womens sunglasses, to communicate the value of the product or service.
With my broad definition of e-commerce, all organisations can benefit from embracing video. The challenge is how fast organisations can develop digital experiences. It’s how fast they can create and distribute their message through video.
How important do you think video is as part of a customer journey?
Video is a medium to deliver your message and tell your story. The message is the important part.
That being said, video is the most effective medium to deliver your message and it’s the most memorable. If what you are saying is important and can connect with your audience, video is the best way to say it at any stage of the customer journey.
What advice would you give to companies that are keen to develop a video strategy but aren’t sure where to begin?
If you are starting with video or developing your content strategy, I’d suggest talking to a video expert. Book a call with a Brightcove expert and start moving your organisation forward.