The Power of 360 Video

The introduction of 360 image and video has allowed businesses to immerse customers in their products or services. Technology has continued to advance and can run 360 applications from a mobile, tablet or desktop facility – you can even view 360 photos and videos whilst on the move with 4G!

With this continued evolution of modern marketing, the question a business should ask isn’t ‘should we look into this?’ but actually ‘what are the consumer’s expectations’ and ‘what is the best way to engage an audience?’ Brands from around the globe have been trialling 360 video marketing for the past couple of years. Honda, for example, are using it for an immersive driving experience in one of their latest models. This was shown to increase social engagement 3-fold over traditional video.

Results from a survey conducted by Omnivirt, a 360-video hosting platform, showed that there was a 300% increase in CTRs (click through rates) and a 410% increase on ROI (return on investment) with 360 photos compared to regular photos.

Likewise, when looking at the results for 360 video watch-time, there is an increase of 46% compared to regular video, demonstrating that viewers are more engaged with the content. For instance, have you ever seen a 360 video on Facebook and tapped or clicked on it for a better view? We suspect that if you have, you will have watched the video until the end and perhaps even re-watched it a number of times. By comparison, how many ‘normal videos’ do you watch until the very end?

What about CTR for Videos?

Ok, so we can prove engagement has improved with 360 media over traditional media, but what about click through rates? A separate report from St Joseph Communications in the US showed that traditional video achieves an average CTR of 0.56%, whilst 360 video achieves an impressive CTR of 4.51%. So, if you are currently running video marketing strategies, maybe it is time to take a look at 360 video and include it in your planning?

For the past 3 months, we have been researching and developing an amazing new 360 mixed media marketing tool for the new home industry. The process has been difficult and testing in many ways but after numerous trials and pushing current technology to its limits, we now have a visual marketing tool that is like no other. Our passion has been fuelled by all the above reasons and we know our tool will increase engagement and conversions for developers and new home sites. We also know that it will generate an increase in genuinely interested click throughs and traffic to their websites and, above all, will lead to a direct increase in off-plan sales.  Why wouldn’t any business want to achieve this?

Costs?

There are no two ways about it; producing 360 video content is a specialist skill and is more time consuming, therefore costs more than traditional video. However ROI and engagement is far higher so although the initial outlay may be a little more uncomfortable for some, the end result will have clients returning for their next project with great excitement!

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