The last two years have shown seamless braiding of technology and strategies that have broken the stereotypical approach and redefined business dexterity. We witnessed breakthroughs that revolutionised existent technologies. Although I find it difficult to make technological predictions, data points to the industry expanding exponentially, led by AI and ML-based tools enabling automation.
Understanding video technology.
Simply put, it is an interlude between video and digital innovation that is recorded, edited, augmented, and stored on hard disks or the cloud. The impact of good video content is way more preponderant and dynamic than one can imagine, making that quotient directly proportional to the branding and success of a business.
Milestones of 2021
Through 2021, we saw a prodigious change in the viewers' habits that led brands to rethink their marketing strategies. The epic rise of OTT and broadcasting platforms boosted digitisations, personalised advertising, and lesser regulation. This was the year of the content hypermarket where the consumer chose from a plethora of content. Collaborations between media moguls, AI and ML-based software were chartered reiterating that content must be created in real-time to meet the demands of the consumer.
Looking ahead
In my perspective, drones are taking cinematography a notch higher. These aerial military vehicles with cameras are now employed for aerial photography and cinematography. Improved drones equipped with 4K UHD cameras, gimbals for motionless videos and auto-detection are next. With 360 degrees operations, live streaming, longer battery life and an image capture rate up to 120fps, drone videography is revolutionising the way people perceive imagery.
Portrait mode
This mode is taking the video industry by storm because of its popularity with smartphones and video communication. To explain the ‘long and short’ of it, the video mode is rotated at a 90-degree angle to utilise the full screen of the device. This leverage is being incorporated as advertising tactics in campaigns to communicate with more wayfaring consumers while creating a sense of intimacy and efficacy.
LIVE video shopping
Shopping trends seem to gravitate towards incorporating interactive content with engaging videos using augmented reality. Conscious consumers are challenging the old theorems of commerce. Live shopping on the other hand is embracing personalisation to keep the customers satisfied and uplift the conversion rate by accepting crypto payments, dynamic pricing and virtual trials. My recommendation is to back the eCommerce trend, which aims at magnifying the consumer experience with video technology.
We are game!
Gaming is no longer a child’s play but a serious business as proven with 2020 marking a milestone revenue of $155 billion. Big tech companies joining the gaming bandwagon by streaming it like any other broadcasting platform are on the rise. With virtual reality already in the market, we need improvised merchandise to enrich the user experience. I would predict sunny weather is promised in the video gaming industry.
Stories are the big trend
Short and sweet is the big trend. AI and ML-based deep learning algorithms are guiding brands on detailed analytics and statistics to distribute meaningful content D2C within a short period. Experts recommend using videos that are feature and key moments focused to help brands create value and brand authenticity. All businesses including ours acknowledge its expediency and employ it as a major marketing strategy. In my view, this trend is going to spread like wildfire, or let's say it is expected to go VIRAL
To stay relevant in business, it is crucial to be ahead of competitors and be intuitive about the consumer. Trends point to marketing strategies placing personalisation right at the top. The flabbergasting advancement in digital innovation has helped us experience the future. Now it is time to discern if you are ready to embrace what lies ahead.
(Vinayak Shrivastava is Co-Founder, CEO of Toch AI-SaaS platform)
