With new AI and AR/VR VR filter formats available, creators as well as brands seem to have taken advantage of the growing power of short videos to engage and grow their audience. According to Meta India, which owns platforms like Facebook Watch, Instagram Stories, Instagram Reels, users spend nearly 50% of their time watching videos. “Consumers interact through different video formats. Each form creates compelling opportunities for brands to drive their message forward. Brands can now see how to use our platforms – Facebook and Instagram – differently and personalize their communication for maximum reach and engagement. We believe video is the way to communicate on our platforms,” Sandeep Bhushan, Director and Head of Global Marketing Solutions, Meta India told BrandWagon Online.
According to the social media company, six million reels are produced every day, doubling creators’ income. Bhushan said creator monetization on Meta more than doubled in the last fiscal year, signaling the growth of the ecosystem of influencers and creator-led advertising. Additionally, brands that partnered with domain-specific influencers saw better engagement. The company runs in-app ads on Facebook Watch and says those ads have produced results. “On Watch, ad completion rates are over 75% since the ads are placed in the middle of the video. Consumers stay with the ad because they are interested in the content before and after the ad,” said Bhushan pointed out.
Outside of video advertising, Meta says it has seen an increase in digital influence – a measure of consumers’ willingness to interact with businesses. For example, more than three-quarters of users follow a brand even before seeing ads. According to the Hootsuite Social Media Management and Marketing Dashboard, ads reach over 72% of Facebook’s monthly active users. The company claims to have 2.5 billion users globally, and in India, Facebook has 430 million users, giving brands and marketers a large audience base to target. According to Bhushan, all brands, including emerging brands, are on Meta’s platforms because they know they can reach virtually any consumer they need. “The magic sauce is how Facebook and Instagram are able to match brands with consumer interests. We serve businesses because our tools allow all businesses, from the largest to the smallest, to engage with consumers. in the most efficient way,” Bhushan said.
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