More businesses are leveraging technology than ever before. As the world went online during the pandemic, companies scrambled to stay relevant and visible. Many of them turned to social platforms, streaming services and invested heavily in digital media. Turns out, that wasn’t only the right move, it was one with staying power.
The predictable suspects for large media and video investments are global brands that sell to a wide audience. Franchised restaurants, beverage makers, clothes brands, etc. But 2020, with its unprecedented and urgent shift toward online buying and behavior, prompted some new trends:
- 81% of manufacturing companies (aerospace, OEMs, etc.) are now investing in video marketing.
- Banks and finance companies are digitizing existing collateral and developing new video material, including commercials, how-to videos and explainer videos.
- Real estate is a sector that has had to up its video game. Listings with video get 400% more engagement, making video walkthroughs, virtual tours and live streamed open houses a must.
- Healthcare has accelerated telemedicine/virtual doctor visits and app integrations, as well as investing a lot in videos that explain safety protocol and invite patients back to a practice.
In an uncertain economy, the decision to hire pros to create video content is more popular than ever. But commercial spots and social ads aren’t the only thing that video is being used for. New technology, live stream capacity and immersive experiences are the wave of the future. And we are here for it in a big way.
New Technology for Video Production
Several new and exciting technologies are making the way for business that is definitely not done “as usual.” Here are some examples.
- The first industry mentioned above was manufacturing. Historically, the technology prevalent in this field has related to safety or machine operation. But when stay at home orders made it impossible for people to get on-site, video technology was fast-tracked and integrated pretty effectively. For instance, at industrial mining sites across the country (where downtime = millions of dollars in lost revenue), voice-command virtual tour solutions were implemented. These can be strapped onto a salesperson or representative, who will then walk around a site and capture video footage. This can be saved, edited and relayed to a client or team.
- On the backend of video production, producers themselves are taking advantage of new cloud-based infrastructure to do their jobs in record time, from anywhere. The ability to access remote clouds (or “burst” onto the cloud) gives teams access to more power during peak times, enable collaboration and make post-production easier and faster.
- The volume of video content is increasing. This applies to content created/stored/shared within a company and content handled by video production companies. While it isn’t a glamorous task, managing this content is very important. Software-defined infrastructures, new production formats and new NVMe storage tech are making it possible to organize and protect the quantity and mitigate the risk of loss.
Live Streaming and Virtual Events
When every in-person event got cancelled, it wasn’t just ticket brokers that went bust. Thousands of businesses and millions of dollars of revenue were on the line. Suddenly, teams that had no video experience and minimal tech knowledge were being asked to host virtual events. With that much at stake, a webcam and a Zoom call weren’t going to cut it.
The best video production companies out there quickly put together packages and offered services that saved events and conferences.
Here are some of the ways that production companies ran to the rescue:
- Renting out professional equipment to ensure high-quality lighting, sound and video.
- Facilitating live events by managing the stream. Even on web calls, the right transitions, overlays and editing made these feel like produced television segments.
- Low-capacity in-person events were filmed using interactive production methods, angles and editing, so attendees still felt involved and engaged.
For events with multiple hosts in multiple locations, skilled video producers were able to coordinate streaming from all sources to create a cohesive, enjoyable live experience. All of this was made possible by the pros.
Immersive Experiences in Ecommerce & More
Virtual reality (VR) is a novelty to most of us (who aren’t gamers). But it is being retooled and used in a wider variety of applications. With the retail apocalypse of 2020, ecommerce has skyrocketed. When people buy things online, they need unique ways to interact with products. VR has provided that. In addition to video previews or reviews, VR gives shoppers the ability to “try things on” or place them in a virtual home environment. This immersive experience has already proven to be profitable.
Travel and hospitality are also turning to VR experiences to entice new customers. Tours of exotic locations are even being sold and not just used to preview the possibilities. This recovery of a small portion of revenue offsets the severe dip in tourism.
Large and small businesses alike are investing in video production that offers clients a 360 view, video tours of their locations and posting more videos than ever to inform and market to the public. The sleeker these are, the better chance they have of stopping the scroll. Bottom line: videos for sales and videos for businesses are in more demand than ever and the standard is high.
What’s Next For Video Production in 2021?
This year will no doubt throw more curveballs and contain more surprises. What we know is that professionals can be relied upon to do their job. There are better tools, faster connections and more opportunities than ever for businesses to thrive online. When they have a video production company in their corner, that’s a realistic goal.