FOMO - the Fear Of Missing Out.
It’s a popular acronym used today and derived from the amount of time we spend on social media noticing what others are doing. Common fears associated with FOMO are regretting not getting involved, creating distance from community and missing out on the latest information. With an ever-changing landscape of connectivity and mobile technologies, the competition is fierce for brands to stay top-of-mind with audiences. Why should a consumer take time to watch your video and engage when there are tons of other content and viral sensations of the week to catch up on (i.e. Damn Daniel)?
How FOMO applies to business & video strategy
Let’s take time to admit to ourselves that everyone experiences FOMO, including your competition. Let’s also acknowledge that it’s impossible to be physically everywhere at once..but video can!
It’s no surprise video is now the preferred choice of online content. Cisco predicts by 2019, 80% of global online consumption will be video.
Choosing the right enablement technology will help give your content the right competitive edge and put you in the driver’s seat of your own strategy. Below, are key components to consider to help form a 360 degree relationship with consumers:
What type of videos are you looking to produce? What is your spend? Do you want to hire talent, leverage employees or invite customers to be a part of your story? Different strokes for different folks. Consider what type of videos will get your audience’s attention and plan appropriately.
Next is to determine which interactive and brand elements you want to accompany your video.
If your goal is to increase subscriptions or sales, consider adding custom call-to-actions to encourage viewers to make a purchase as the viewing experience is taking place.
Are you looking to create social buzz around a new product launch? Take social sharing up a notch by displaying real time Twitter, Facebook & Instagram feeds on or around the player to help your viewer join the dialogue taking place.
Do you want to grow your marketing database? Consider placing an email gate over the video player.
Gather your audience’s psychographic and demographic data and plan out how you will reach them. Make sure your content is delivered to the places most fit to garnish the right type of viewers.
Which social sites do your audiences live on? What metadata do you need to optimize for search results? Is your audience responsive to email marketing? Have you considered podcasts or OTT platforms?
The best way to drive a specific set of desired outcomes is to first define your goals, and then leverage a platform that will enable you to deliver on it.
What is the ROI of your video strategy? What type of data are you trying to capture? How much time is being spent with your content? How much revenue is your content generating?
Video 2.0 is capable of providing more than just the standard consumption metrics (view count and engagement). You should look for a solution that can easily integrate into existing business analytics systems like Google or Omniture, or destinations where your video will live like Facebook, Twitter and Youtube. When viewers interact with the player in scenarios like I mentioned above, the conversion data will live in one central location making it easier for you to measure and refine your strategy.
Consumers are faced with content everywhere they go and on every device, therefore, FOMO can create a healthy tension that pushes brands to think outside the box when engaging with audiences. The bottom line, make sure your video strategy provides an experience consumers would fear to miss out on.