Sorry, TikTok: Study Shows You're not a Top 3 Video Platform for Businesses in 2024

Key Insights from Munch's 2024 Annual State of Short-Form Video Report
Sorry, TikTok: Study Shows You're not a Top 3 Video Platform for Businesses in 2024
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Video content consumption has reached unprecedented levels, with consumers showing a strong preference for short-form videos. As a result, businesses and brands are now under increasing pressure to leverage this medium effectively to maintain a strong presence on social media platforms.

The Growing Demand for Short-Form Video Content

Munch, a leading AI-powered automation platform for social media, has recently released its annual state of short-form video 2024 report. This report presents key insights into using short-form video content for marketers and provides valuable information on how businesses can harness this medium to enhance their marketing strategies.

According to the report, 66% of consumers find short-form video content the most engaging, highlighting the increasing demand for this type of content. As a result, marketers are now prioritizing the creation of short-form videos as a critical element of their content strategy, recognizing their ability to capture an audience's attention and drive engagement.

Platform Preferences for Video Content Distribution

The report also uncovers surprising trends in video content distribution across different social media platforms. While businesses favor Instagram and Facebook for their marketing needs, with 42% and 26%, respectively, leveraging these platforms, content creators show a different pattern, with 43% preferring YouTube and 30% favoring Instagram. This disparity underscores the varying platform preferences between businesses and creators and emphasizes the need for tailored content strategies.

Interestingly, TikTok lags behind in both categories, with only 11% of creators and minimal usage among businesses, highlighting the platform's challenges and lower perceived value compared to more established platforms.

Video Marketing Across Business Sizes

Munch's research indicates that video marketing has become an essential tool for businesses of all sizes, with small and medium-sized enterprises leading. Although adopting short-form content is widespread, many companies struggle to create viral clips and often rely on time-consuming solutions.

The report emphasizes that successful short-form content is characterized by a pacing of 150 words per minute and features 2-3 speakers to ensure a variety of perspectives. Furthermore, the optimal length for maximizing viewer engagement while remaining concise is around 40 seconds.

Navigating the Future of Short-Form Content

Oren Kandel, CEO and Co-Founder of Munch, highlights the increasing importance of leveraging short-form content to maintain a solid online presence.

"It is becoming increasingly clear that organizations that do not have a clear grasp on how to leverage short-form content to retain a strong online presence will fall behind. This report aims to empower marketers and businesses alike with the knowledge and tools to navigate this challenging terrain," said Kande. "With attention spans shrinking and the amount of content growing, consumers are increasingly demanding high quality, engaging, personalized videos that truly resonate. We're seeing more and more technological solutions available helping companies of all sizes create short-form content in an accessible, timely manner. Harnessing such technology is crucial for marketers to create short-form clips to engage with their audience, drive conversations, and build lasting brand awareness."

Additional Key Findings

The report also reveals that the wellness industry has overtaken eCommerce in adopting short-form videos, representing 21% of overall usage compared to eCommerce's 7%. Additionally, there has been a significant 49% growth in the business segment's use of short-form video content.

The full report is available here.

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I definitely think the cadence has a huge part in the effectiveness of marketing on TikTok. With other platforms, like Instagram and Facebook, businesses primarily see success with paid media, which typically means that your creative life cycles for video assets are longer. With TikTok, it's a much more demanding cadence, as they suggest posting content 3-5 times weekly. If you have a solid production process to make that happen, like scaling down longer form video or reusing assets from other platforms, that can make it easier to achieve, but realistically businesses typically don't have the time to make that happen.

Additionally, while TikTok is one of the few platforms where organic engagement can actually see returns, how it prioritizes and categorizes content for its algorithm changes very quickly as well. Marketing advice, even from professionals with a ton of experience, could be obsolete within months.

Overall, between these, there's been a slowly emerging trend of creators who are scaling back their cadence in both content creation and streaming. The cadence is taking its toll on them, and they're looking to get back to the roots of why they started producing videos in the first place!