If you haven't yet figured out a strategy for Facebook videos, you should probably get on it soon.
This week Facebook held its third-quarter earnings call, and the company reported revenue of $3.2 billion for the quarter, up 59 percent from $2.02 billion in the year-earlier period. During the call, Mark Zuckerberg discussed the importance of mobile in its success, but he also mentioned the importance of video for the social network.
During the Q&A portion of the call, Cowen & Co. analyst John Blackledge asked how we should view Facebook as a video platform and how it will be used on the site moving forward.
Zuckerberg answered by explaining the growing popularity of photos and video as a way to share with friends.
"Most of the content on Facebook is things that people are sharing with their friends and the people around them," he said. "So I think we'll continue to see that in video, as well. There's definitely the trend over the past few years where, if you go back five years, most of the content was text. Now a lot of it is photos and if you look in the future--as networks get better and the ability to capture good video and share in a good way improves--then I think that going forward, a lot of the content that people share will be video. It's just very compelling."
Beyond user-generated videos, however, Zuckerberg expects to see growth in public content in the form of videos, especially shorter-form videos. Zuckerberg thinks these videos "fit very well into the News Feed form factor that people consume on Facebook."
Brands should view this as a wake-up call. If you are not already creating original video, you'll probably want to get a move on that and find a strategy that works for your business. As users become more acquainted with the medium for their personal sharing habits, they'll get more used to seeing it from brands as well.
"I think we're going to see a lot of both of these things [user-generated and public-content videos], and it's going to be an evolution over the next few years," Zuckerberg said. "But I think you can expect to see a ramp-up of all this."
As it so happens, Instagram, which is owned by Facebook, just rolled out video ads, as well. So you'd be wise to consider that platform as well when crafting your video strategy.