This year marks the 7th annual Social Media Week New York with over 10,000 attendees representing the best and brightest in the tech, advertising, media, and Internet industries. With the goal of curating and sharing the best ideas, innovations and insights into how social media and technology are forever changing business, society and culture worldwide, it was only natural for WIREWAX to be a part of the conversation.
On Thursday, 26th February, we hosted an Interactive Video Workshop, walking all our new friends through conception, production, best practices, and distribution for this new age of online video. Minds were blown after being exposed to the newly open window of possibilities. We've outlined some the the key takeaways for you below.
If you follow these guidelines:
- Tell your viewers the video is interactive
- Offer shots of 3+ seconds for interaction
- Place a tag in the first 15 seconds
You can see these results:
- 86% interaction rates on average
- 4x more time spent with your content
- Click-through-rates as high as 38% from video to store
- 2.4 average interactions per viewer
Outside of our masterclass, it was incredibly inspiring to connect with content creators, brands, publishers, and agencies alike who were leading the charge in their respective spaces. Here are a few other astonishing highlights from the week:
- Word of Mouth is responsible for $6 trillion dollars of consumer spending annually
- Word of Mouth drives 13% of sales for businesses on average
- Stories should be two things and hit three kinds of connections
- Simple & Surprising
- Emotional, Informational, Identifying
- Shareable is the new viral
- Virality has no long term value in brand awareness
Digital video has made a major transformation from being just an industry buzzword to a new standard. With major players like Facebook and Twitter ramping up their native video capabilities, this has never been more true. . The enthusiasm and passion we saw in the eyes of SMW attendees for video warmed the cockles of our hearts. It's sure to be a very exciting year - especially with all the special treats we have in store. Stay tuned.
For those of you who couldn't make it, dry your tears; you can watch the livestream below.