Chris: Hey world, Chris Hogan coming to you live from MeMedia Studio here in Burleigh Heads for 'Get Fact Up'. The new and improved version, delivering more content to you regularly, is in our vodcasting studio or podcasting studio. You can hire it out at Burleigh Heads as well, just enquire on our website. So here we are. Hanging on, Andrew?
Andrew: Yeah, I'm good. Just had a double strength decaf.
Chris: That did nothing.
Andrew: Sorry, I was sitting on that one for a bit, sorry. Keep going.
Chris: As you can see, we're keeping it light and humorous. So today we want to talk about the transition that's happening from broadcast, or traditional media, to online media. Basically, the millennials are moving away from traditional media and moving to social channels and whatnot for entertainment.
Andrew: Well, the interesting thing about that is how we're delivering this today which, in my opinion, is shifting more towards live and daily content, and those sorts of things are happening on social. So what better way to deliver 'Get Fact Up' than through live video?
Andrew: And that's what we're trying.
Chris: So what are the channels that are actually performing best when it comes to live video?
Andrew: Well, it's Facebook, YouTube, and then you've got other things like Instagram, which is obviously Facebook as well. It's like Facebook in your pocket, I guess you could say. And then, what else have you got? You've got Periscope. No one really uses Periscope.
Chris: And also LinkedIn is coming out with their new update to allow you to shoot live video through their mobile app, and upload videos through the desktop.
Andrew: Yep, LinkedIn always liked to party. But they're doing their thing. And then you've got things like Snapchat and all that, but from what I've heard, Snapchat's not gonna be around much longer. So let's not worry about that too much.
Chris: Yeah, but those stories that are up there for 24 hours, they just aren't that interesting to anybody anymore. Especially the brands, I think, because ...
Andrew: Yeah, it was a toy. People are getting past it. I don't know anyone that's really using Snapchat in that way anymore. And now there's also Instagram which has the same feature. Facebook has the same feature. It's really devalued that whole disposable story thing quite a bit.
Chris: So with Facebook owning Instagram, we've seen a lot of changes in Instagram as well. They've actually brought in a lot of the features, their filters and all those overlays that Snapchat ... someone invented. And Facebook have kind of integrated those into both Facebook and Instagram. And Instagram have also updated their app, or their algorithm, to decrease the organic reach that people are getting to grow their channels. What problems does that present to newcomers to Instagram, do you think?
Andrew: Well, I think when it went at a really saturated ... I don't want to call it a marketplace, because Instagram's not a marketplace.
Andrew: It's a really saturated channel now. When I first started using Instagram and things like that, you could really grow a channel. You could easily get to two thousand followers, is that what we call them on Instagram? Yeah? Two thousand followers, just through organic means. Just through interacting with other people, and stuff like that. You just can't do it now. You don't get that sort of traction with posts and things like that anymore. You used to be able to put a post up and get two hundred likes, just by getting the right hashtag. That just doesn't happen now. You don't get that increase of followers, or that sort of thing. It's really just a feed now, and it's so saturated that if you're coming in with a unique idea, everyone is sort of doing that same thing. Everyone's coming in with a razor-sharp unique idea. You know, like the yoga paddle boarders and stuff like that. Everyone's coming in with something like that, it's just hypersaturation in there now. That's just how I feel about Instagram.
Chris: We've talked about this many times, but I'm challenged by using Instagram due to the fact that when you're actually posting something, you can't actually put a link in the post, therefore not being able to redirect people off the channel onto your own. And here at MeMedia, we do a lot of content creation. We do a lot of marketing for clients. We call it integrated digital marketing. So essentially what we're doing is we're creating that content, we're using the social channels to distribute that content, and get traffic back to the website. That's an awesome indicator to Google to boost your SEO, boost your Google rankings. If you can't do that post on Instagram and actually put a link in the post and get the traffic to your website, the only way you can do that now is through using their advertising.
Andrew: Using it in the profile, which is not helpful. Yeah.
Chris: Or tell people to click on the link in the profile. Exactly. Not helpful. So to me, Instagram's not a great thing to use for SEO, for promoting people to come to your website, which is the media that you own. Obviously, when you're on these channels, you're only renting space. You know? And with Facebook updating algorithms, it's ...
Andrew: You can't really turn that into leads, per se. You can use Instagram to get direct messages and stuff like that, but who wants to be walking around with their phone all the time replying to messages and things like that as a form of inquiry? You can't get calls and things off Instagram the way you can, unless you're doing ads and things. It's not getting it back to your website. Not in a meaningful way, anyway.
Chris: They're actually using ads.
Andrew: But it is a brand tool. And the people that do it well, the industries that do it well, things like cafes and clothing and things like that. But you know, they're getting their brand out there, and people see this, and they're like "I want that," and then they can go and find it. That doesn't work for everyone, that sort of effect on brand awareness doesn't work for everyone. You can't see a picture on Instagram of, for example, laser eye surgery, and think "that looks good. I'll just go and get that today." It doesn't work for everyone.
Chris: So let's talk about what's happening with the aspirational youth and the Gen X, Y, Z. Basically, how they're becoming disengaged with traditional advertising. 99% of millennials are actually disengaged with traditional advertising. So trying to replicate traditional advertising methods on social channels isn't really that effective. Given that 55% of people watch videos online every day, there is this huge, I guess, shift from everyone to produce videos. Once again, they're trying to take that traditional ad that they've done previously ...
Andrew: Ah, we're talking about traditional media, yeah.
Chris: Yeah. They've done in traditional media ...
Andrew: They're failing so hard. It's like they're jumping on these social channels and they're like "Great. So we use the TV formula on social media." And everyone goes, "I don't want to watch TV on Facebook. Goodbye." Or "I don't want to watch TV ads on Facebook, see you later."
Chris: I don't even want to watch ads!
Andrew: Well, yeah. And that's the thing. You have to be very creative with these new formats now. You have to really think around, okay, the people that are watching these formats, they're escaping TV. So if we come at them with ads, they're not gonna react well to it. Because they're ignoring TV and they're going to Facebook or Instagram or YouTube or something like that. Last thing they want is TV ads coming at them, because that's what they've come from.
Chris: So yeah, cutting to that "Proudly brought to you by your sponsor, let's listen to a message from our sponsors," all of that type of messaging just isn't gonna work. And the reason why we're focused on millennials and these aspirational youth is because the global workforce by 2025 is gonna have 8% baby boomers, 28% Gen X, 33% Gen Y, and 31% Gen Z. So that's our audience.
Andrew: It's all social media generations now, from here on in.
Andrew: They're not going to react to a straight up sponsorship message, or a straight up advert. But the thing that's happening now is like these online sponsorship messages that happen in podcasts and things, where they just say "hey look, our podcast is funded by Rode Microphones or something like that." And people expect that. They know that you have to be able to make money out of these things.
Chris: That's right. Then it comes down to authenticity. And one thing that you'll notice when you, or that we definitely notice, is that with advertising that's used in podcasts, the host of the show is actually delivering the message from their point of view. So like Andrew just said, we are proudly brought to you by one of our sponsors, Rode Microphones. And this kit is Rode Microphones kit. And it's bloody awesome! So we can actually say that, because we've used the product.
Andrew: And we're literally using it right now.
Chris: That's right. And just out of nowhere, we actually have extra kit if you want to do more podcast from this studio and have more people sitting at this table.
So where to now? We're seeing these massive shifts to video, massive shift to live video, and what do we want to see when we're doing that? What are some of the ... we want to see reach, we want to see video views, and we want to see engagement.
Andrew: The funny thing there is where it comes back to promotion. So we already know that people like live video. But you don't get an awful lot of rich engagement when the live video's happening. So with everything, eventually, it inevitably comes down to the paid promotion. Facebook used to be great. You put something on your Facebook page, or your Facebook page, followers saw it. Now, what percentage is it now?
Andrew: It's like 1%?
Chris: Organic, yeah. 1% organic.
Andrew: That's so weak. So all of these new formats, they're great while they're happening and people think they're exciting, but then it becomes commonplace, and we need to look at the promotion side of things. And that's where it's a real problem. The two big contenders right now are YouTube and Facebook for the live video, and both of them had terrible paid promotion. It doesn't even exist, really. They both kind of, in their help, I'll just bring it up now.
YouTube, for example, says during your event, yeah, you can create a highlight clip after your event. Or before your event get your followers excited, etc. But there's nothing for promotion of a live stream. I think you said Facebook, Mark Zuckerberg mentioned something at their F8 conference?
Chris: Don't quote me on this, but it is a rumour that promotion of live video during the live stream is going to be available sometime in the not too distant future. There's a whole realm of issues that could present.
Andrew: Yeah! Like, obviously it needs to happen because it's what people are getting excited about. It's where they're moving, so we have to be able to promote it. But what happens then? Because Facebook are kind of liable. They review ads, so we put like 200 ads up and they'll go through them and sixty might get through because of various reasons. How do they monitor the live video? So if someone says "I'm gonna do a video about this," but then it's about something else and it offends everyone, it looks bad for, say, Facebook or YouTube, so.
Chris: Well that's where I think their feature that they've got now for videos that are uploaded is that they do have the ability for Facebook to process your captions. So for those that don't know, captions mean subtitles that appear at the bottom. That's pretty amazing technology. Obviously, that's done by a machine. And it's not 100% accurate, in fact it needs a lot of work. But if they have the ability to do that live, then potentially they can kick out those profanities and ...
Andrew: Flagging things, and then someone comes in and manually watches it. Because Facebook already do that. What I've had explained to me by someone that does the forums on Facebook, there's an automatic review process, and that's what determines if your ads go live or not. And then if things get flagged, someone manually reviews it, so it's like a two step process. I think it'll be something like that. They're looking for profanity or things like that, and then someone will come in and check out that stream, maybe they check what the reactions are because people can react as they go, they can say "Like this, hate this." Maybe if it's too many people disliking it or having negative reactions, then someone jumps in. They'll have to find a solution around that if they want to monetise it, but they will monetise it because they love, especially Facebook, love monetising things.
Chris: Of course, of course they do.
Andrew: YouTube I'm not sure exactly how they're gonna do it.
Chris: One of the most amazing things is, when we're actually creating content for our clients, is the reach and engagement that we get, and the video views that we're getting for our clients here at MeMedia. But one thing that's been amazing, and that's in a new venture that we've co-founded with two other directors, Leigh Kelson and Scott Burke, for Beach City, is amazing reach. Which is 1.8 million reach, 434,000 video views, and 109,000 post engagements on those videos.
Andrew: And that's mostly with live video?
Chris: Yes. All live video. Truly spectacular engagement, and that's the key metric that we're looking at there. Supposedly, 10% is excellent engagement, and we're actually getting over 20%. Given the multitude of places where we can post video, which we spoke about before, Facebook's an awesome place to get reach and engagement. People are spending less time actually viewing the videos on Facebook than they are on YouTube.
Andrew: Definitely, significantly less. But YouTube's a video platform, so people are expecting it. There's still this sort of interrupted feeling for the live video on Facebook, because you get that notification saying "so-and-so's live." Some people just don't react so well to it. Some people are into it. Facebook's a feed of the content you're interested in there. So sometimes, "so-and-so's live" could be disruptive to someone just wanting to look at memes or something like that.
But YouTube? Definitely, people are ready for live video on YouTube.
Chris: There's a huge reason to post on YouTube, as we've discussed many times, and the reason why we post on YouTube is that obviously, Google doesn't crawl through Facebook's content to list it in the search engine results pages, which is the Google listings when you do a search. Whereas when you do post on YouTube, then there's an opportunity for those videos to appear in the search.
Andrew: And that's something we often say to clients, it's like if you can't get a page rank for something because your competitors have great content for something, do they have videos? Probably not. Google's gonna favour videos, because they own YouTube. So that's a good way to sneak past. It's always a good reason to be putting videos on YouTube.
Chris: And there's so many different ways you can create videos, whether it's slideshows or chats or podcasts.
Andrew: Exactly. The other thing that's good about YouTube is it's always been a video platform, so it's more like a library than Facebook. Facebook's a feed, so things get lost if you post a lot. Things'll just disappear back. And people don't really go backwards through your feed too much. They might see something they like, and then they'll think "okay, let's look at old videos." It's not as easy to do with Facebook, but if someone sees something they like on YouTube, they can subscribe to you. They can get all your new videos. They can look at all your archived videos. It's a lot more organised for that sort of thing. But, the connectivity of people's not there on YouTube.
Chris: No, that's right. Because I mean, there's just not as many people there. With Facebook having two billion plus monthly users ...
Andrew: Yes. Let's bring that up.
Chris: Over two billion monthly active Facebook users, with ages 25 to 34 making up 29% of those users worldwide.
Andrew: Yeah, so this is all the people we're talking about. They're Gen Y, X, and millennials. They're all there, and they're online all the time. Something like 28 times a day someone checks their Facebook, on average.
Chris: Of course.
Andrew: In these generations.
Chris: We're highly addicted beings and we really had no chance when the smartphone came around, to not be addicted according to Simon Sinek, the famous author.
Some other stats. Like we said, the decline of broadcast TV. 24% decline in live TV for 18 to 24 year olds since 2016. There's a clear shift to social. There's a clear shift to YouTube. There's a clear shift to online. There's a clear shift in your very home, watching multi devices being used in the same room while the TV is still on, but just playing some average stuff in the background, to put it nicely.
Andrew: That's, yeah. That's on a timeline that you can't really control.
Chris: Yeah, so everything's on demand. 65% of global media consumers choose video on demand. Far out.
Andrew: We're not even considering things like Netflix, the actual streaming TV services. Half the time when someone's saying TV, they actually mean Netflix. "I watched TV last night." They watched Netflix last night. That's another thing. But I suppose what we're getting at here about all this shift is what can you do about it? How can you leverage this from a marketing perspective? And that's where it gets interesting, because everyone's still trying to figure it out. How does this work? We're still trying to figure it out. And we're finding things that work, but how far can you push that before people start to get annoyed because you're in their personal downtime? If you're annoying someone on Facebook, you're in their downtime and people don't like being annoyed in their downtime. That's where it's leading edge right now, we're trying to figure out how to make this work.
But the thing is, the big difference between traditional media and this new type of media like Facebook and YouTube and all this live video stuff is, you've got analytics, you've got metrics, so you can actually see the data behind this. You can see publicly accessible data about what people are reacting to, the results you're getting, and all that sort of thing. You're never gonna get that with TV. If you approach a TV channel and say "I want to put ads up," they'll tell you "You're gonna get so-and-so people, this many people watching it today."
Chris: This is what our reach is per month and how many people we're reaching, this demographic. But you don't actually know what your specific ad or mention in the show, how many eyeballs it hit and how many people actually liked it.
Andrew: And even if a TV's on, if there's a TV on and there's a family of five watching the TV, four of those people are on Facebook at any given time. So they can't really prove that. You see those, cinema advertising, which is probably even a step down from TV. You're watching a movie and it says "Cinema advertising works!" And you'll be the only person in the cinema. There's something wrong there. How can they prove any of this anymore?
Chris: So clearly we've got a shift to social media, online media, and on-demand media. And we can actually give valuable ROI in terms of statistics and metrics of who viewed your particular piece of content, brand, you know, ad. So there's no time like the present, obviously, to make these shifts. And there's plenty other ways that are happening right here right now that ... you know, like, influencing marketing is another way to ...
Andrew: Ah yeah, that's a mince higher with your podcast.
Chris: Yep. I think we're gonna have to talk about that another time. So thanks very much for listening. Like we said, we hope you like Get Fact Up. The new way we're delivering, it somewhat helps our production time, helps us produce more content, and you can hire this studio too. Simply inquire on memedia.com.au. Thanks, and thanks to Rode Microphones for helping deliver this vodcast.