IGTV has been all over the news for the past week. Instagram’s video platform represents a big opportunity for companies to expand their B2B marketing, as content can last up to an hour.
It is no coincidence the new product launched the day IG reached a billion active users. With a sharp strategy, Instagram is planning to surpass Google’s video features.
Since Scopus ventures is B2B, we consulted our portfolio companies as how to utilize this platform and came up with terrific way to build brand awareness, tutorials and brand new experiences. Here is why IGTV is a game-changer.
A one-stop shop for video marketing
IGTV was launched a day before vidcon… Which is no coincidence, as Youtube is one of the main sponsors of this video even.
With influencers striving for a strong Instagram following, IGTV’s intention is clear. Instagram wants users to stay on Instagram platforms, instead of going on Youtube – and possibly, attract Youtubers and bring them to the Insta side of the force.
In other words, Instagram wants to become a one-stop shop for business owners willing to expand their video marketing. And it might be, indeed, the right place: within a year, users have been watching 60 percent more videos on Instagram. Also, have you notice how old Youtube’s layout is? It has been the same visual identity for almost ten years – and as we are living in an unprecedented entertainment-oriented society, choice is wide and audience is pitiless.
Instagram has already won the game against Snapchat and Vine… Youtube’s leaders know it – and they were petrified when IGTV’s announcement happened.
Google’s reaction was quick. Two days after IGTV’s launch, it launched a national TV campaign to promote… Youtube TV. “The highest video quality on mobile”, says the ad. Would that be a wink to the poor quality delivered by Instagram? Maybe. After all, Youtube has easier features to upload high-quality content, while uploading camera-based content on Instagram is still a long process.
And indeed, video quality will probably be at the heart of this new war between two giants – Facebook and Google. As Jeff Bezos seems to move on the spatial industry and that Snapchat is slowly sinking, it seems that Zuckerberg is trying to eat the world of online content.
IG’s growing ad revenue
While Youtube has been around for ten years, Instagram shows impressive data. It is said to generate $5.5 billion only in the US for the ad revenue in 2018. This is an 70 percent increase compared to 2017.
Moreover, if the app reaches this number, Instagram should be account for nearly 30% of Facebook’s net mobile ad revenue. At the moment, not a single digital-led industry can show similar results.
While introducing step-by-step functionalities that swept away competitors – Snapchat “stories” in 2016, Twitter’s Periscope live videos similar in 2015 and 2013 Vine’s videos – Instagram is now challenging Youtube. Which makes expert think that “Instagram is eating the world”, as Forbes reports. As for the records, Vine shut down after Instagram launched its short videos feature.
And as video will represent 78 percent of the global mobile traffic in 2021, it is a good reason for Instagram to develop its functionalities.
In other words, Instagram has a highway – and a red carpet of influencers as well as industry leaders – ahead. And who could blame Zuckerberg for trying to make the best of his momentum? After all, Facebook live videos have swept away many livestreaming companies already…
More time to market products
IGTV’s features are easy to use. Each public page’s Instagram account can allow you to create your own IGTV channel, whether you are a public personality or a company.
Not only this gives you an opportunity to have free publicity, but the app is quite easy to use – you only need to have an Iphone to record content. On the other hand, it gives a tremendous voice for digital ambassadors and influencers-to-be.
Moreover, B2B companies can stream their growth and activities in a more playful way – for example finance giant Nasdaq, that streamed a “summer solstice yoga in Times Square” show.
That could definitely be a game-changer for companies who have a hard time explaining what they do, or who want to have a fresh start in the visual online communication.
As businesses are managing their own content, the editorial line is free. One can organize recurring shows with industrial experts, stream press conferences, or even CEO public announcements for shareholders… One can also imagine a B2B closed account for clients or shareholders only. All of this, right from your smartphone.
Mobile video’s new identity
Ergonomy-wise, IGTV was launched a decade after Youtube. It makes sense that the interface is adapted for a younger crowd, yelling to interact and comment instantly with other users and hosts. I’ve written this above, but this is so important! How could you even imagine branding your company if you cannot even show you are in the moment?
Depending on your business, you will be more able to attract digital-born and tech-savvy users on IGTV. Emojis, hashtags and locations are enabled, in an interface where you could easily imagine AMA’s or FAQ’s going to the next level than the late nineties basic livestreams and webcasts.
Next stop: Monetization Town
So, what’s the catch? At the moment, IGTV does not allow ads or paid subscription. It seems that next step for Instagram is monetization… And this step might be crucial, as Youtube has grown a valuable expertise. All that we know so far is that IGTV will enroll celebrities for product endorsements – but there will be not any advertising per se.
Instagram wants to be more subtle than your usual television… Which is why the penetration rate for brands is likely to be way bigger than traditional TV!
Also, Youtube’s revenue will start decreasing in about three years. So it is pretty easy to guess that Youtube’s top executives will be hunted by Instagram.
However, Youtube has managed to funnel a very specific market of tutorial makers and specialists who might not be down to quit their following – sometimes, millions of followers – overnight to start from scratch on IGTV.
And what more convenient for a brand to stream product demos for clients – and employees, training videos for global companies, or even marketing content online? IGTV is the ultimate new experience for brands who want to deliver interactive content with an edgy layout.
Right now, Instagram has not revealed how it will be monetized. It is likely that it will track users’ data to create targeted video ads – just like on Facebook. It should only be a matter of time before ads campaigns go live on IGTV. After all, Zuckerberg owns them both…