Earlier this month we had the exclusive opportunity of attending Social Media Week in New York City thanks to our friends at the Department of International Trade. We participated in their mega-session showcasing the insights of 10 British tech companies speaking on everything you need to know about GDPR (but were too afraid to ask).
As the first cab off the ranks, WIREWAX co-founder Dan Garraway took the stage to talk about the technology that has been winning us so many awards.
Outlining a key insight, Dan discussed the importance of comprehending that our interactive video starts with understanding what is in the video itself. Armed with this understanding, we’ve been able to hand-build computer vision algorithms which automatically identifies and tags people, objects, and things throughout the video content.
For brands, this is what can be used to create interactive video experiences with clickable decision points to guide the viewer and personalise the content they receive throughout their self-driven visual narrative. By harnessing this, brands are fundamentally able to get much more from a single viewing experience, as oppose to brands asking their view to travel to separate websites post-view.
This same technology is also empowering the world of entertainment as we’ve experienced through the likes of Black Mirror’s iconic interactive episode, Bandersnatch, and the WIRERWAX-built Disney promotional video for The Jungle Book:
Traversing these examples, Dan arrived at the main question: Why?
Why use interactive video over traditional?
Mobile Marketer sited a whopping 47% increase in viewing time measured for interactive video ads.
IPG Media Lab have uncovered a 9x increase in purchase intent caused by interactivity in video.
These numbers paint a bright picture for the future of interactive video and also give rise the realization that you simply cannot do the same thing as everyone else in video and expect different results.
After all in such a growingly connected world, are things ever going to get less interactive?
Lastly, Dan discusses our partnership with Wayin and the zero-party data economy which we as an industry are moving toward. Put simply by Fatemeh Khatibloo from Forrester, zero-party data is data a customer intentionally and proactively shares with your brand.
Interactive video is allowing users to make decisions within the video, giving you metrics that go so much further than that offered in the old world traditional viewing.
Watch the full clip now: