A recent report from Mary Meeker on the big internet trends of 2016 is flush with information that every media company should have in mind. Whether you’re thinking about the nature of your content and audience; how to grow your reach on social and drive traffic to your website; how to monetize your video efforts; or all of the above, there’s data to help you tackle those goals.
Let’s check out some of the critical points this report brings up:
Snake People are your market
Snake People – that special demographic born in the time from the early ‘80s to around the year 2000 – should be one of the targets on media companies’ radar. This group makes up 27% of the population, and are a generation on the rise. Over the next two decades, their spending power will increase enormously. Connecting with this audience now will have them in your corner for life, and likely comes as no surprise that social is a powerful way to reach them.
- All dominant social networks with snake people are visual. Source: KPCB
According to the report, about 100% of Snake People spend more than 1000 minutes a day on Facebook, with Instagram and Snapchat close behind. On the other hand, although most Snake People are in the career-search stage in their lives, they spend a very small amount of time on LinkedIn.
Video views on Facebook & Snapchat are growing fast
Video has quickly become the backbone of social media, so it should come as no surprise that video views are exploding on the two biggest social networks. Facebook doubled its daily views in 2015, jumping from 4 billion up to 8 billion, rivaling the former video standard, YouTube. But in the first months of 2016, Snapchat blew right past that new marker and now sits pretty with 10 billion daily video views.
Considering these are the most used social networks among Snake People, it’s safe to assume their demographic is enamored with video content.
- Video views continue to increase across social platforms. Source: KPCB
Online advertising is growing, especially on mobile
More and more dollars are being spent on all types of online advertising – overall, it’s growing 20%, year-to-year. Advertisers are really starting to hone in on mobile, which has seen a 66% increase in ad spending. As mobile use continues to grow, it will take center stage for content and advertising.
Online video ads have a lot of room to grow
Overwhelmingly, it seems, video ads are ineffective. 81% of users mute video ads and 93% have considered using (or do use) ad-blocking software. Of special note is that up to 62% of users say they are annoyed by pre-roll video ads, and actively “turned off” from brands because of them. That’s the last thing you want! But it’s not all bad news…
The time has come to approach video ads from a different perspective, one that more closely aligns to how you should be thinking about social videos that are not explicitly advertisements. Like those social videos, successful ads need to feel authentic to viewers, evoke emotion, and prove entertaining. They should work with the sound off and be something viewers opt into, as opposed to a purely interruptive format.
Look to Snapchat as an example of great video ads
Not only is Snapchat the fastest growing social network, it’s also one of the most effective platforms for video advertising. The reason for this is outlined in Meeker’s report as a combination of the “3 Vs”: vertical, video, viewing (and see MediaPost article on the subject).
Snapchat’s native format is vertical, which is perfect for mobile. Video is the most effective way to tell a story. And Snapchat’s video ads are always full-screen, which makes for the best viewing experience. Even if you’re not pursuing an ad strategy on the platform, there are lessons to be learned from their strategy and content.
As you look ahead to the rest of the year, keep these trends in mind. The insight they offer can help you formulate a better online strategy, and move you closer to your goals.