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OPINION: Online content in the post-pandemic world (by Paolo Rizzardini)
23.11.2022 / 18:30 CET/CEST
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OPINION: Online content in the post-pandemic world (by Paolo Rizzardini)
By Paolo Rizzardini, Mondia Digital – CEO (https://mondia.com)
The COVID-19 pandemic has fundamentally changed the way the world works, shops, interacts and seeks leisure. In an instant, the way we thought about the world changed, and companies rushed to pivot to find opportunities for growth in the new paradigm.
Many of the significant trends accelerated by the pandemic have been tempered by an inflationary global economy, geopolitical uncertainty and the threat of a recession. For example, 62% (http://bit.ly/3AAvXqD) of US shoppers shopped online more frequently after the pandemic, with Amazon reporting a 37% increase in global sales in 2021, but those sales fell (http:/ /bit.ly/3AAvXqD). .ly/3B2kW1V) in 2022.
Other trends, particularly those related to consumer shift to the internet and the rise of mobile content, have proven more durable. More people than ever are connected and using the internet in more ways than ever before. They go online to learn, advance their careers, bank, seek health and wellness, and connect and build communities.
Mainly they go online to connect. 190 million (http://bit.ly/3ADUJGu) new users joined social media in the last year – an annual growth rate of almost 5%. Today, there are 4.74 billion (https://bit.ly/3ADUJGu) social media users worldwide out of a total population of 7.8 billion – almost 60% of the world’s people use social media.
One particularly impactful trend accelerated by the pandemic has been the use of the internet for learning, upskilling and reskilling. As universities, colleges, and schools shut down physical classes, the idea of online learning was normalized. With disrupted job markets and the emergence of new technologies, people are turning to online courses and tutorials to learn new skills.
This has created opportunities for education providers and content creators. In 2021, 92 million people were enrolled on the online learning platform Coursera, up from 71 million in 2020. Most came from the United States, followed by India, Mexico, Brazil and China. Almost three quarters (http://bit.ly/3XtZKeq) of people prefer video as a teaching method over text or audio, also reflecting a growing demand for video over other forms of content.
According to SOMS Digital (http://bit.ly/3AzWRz9), video content marketing is likely to be one of the most important trends in online content in the next 5-10 years. Websites with video are 50x more likely to drive organic traffic than those without, as search engine results increasingly consider video content and user interaction. Almost three-quarters of businesses said integrating video increased their conversion rates.
This is reflected in the rankings of social media platforms and internet usage. Google remains the world’s most-visited website, but YouTube follows close behind with 69 billion (http://bit.ly/3i6OXa5) visits per month. But the way people consume video is changing. The majority of YouTube videos are watched without sound (http://bit.ly/3tSBeWT), which means captions or subtitles are crucial to grab users’ attention and convey information. Subtitles can increase view-through rate by up to 80% (https://TubularLabs.com).
When it comes to video, short videos – less than two and a half minutes long – are the undisputed king, accounting for almost 90% (https://bit.ly/3XtZKeq) of all internet traffic. As a result, more than half (http://bit.ly/3EWwIwX) of marketers plan to increase their spend on short videos in 2022, as short videos have the highest expected return on investment (https://bit.ly/3EWwIwX) any social media marketing tactic.
TikTok is the eighteenth most visited website in the world, and it’s growing fast. In just four years, it racked up 3 billion (http://bit.ly/3VlQCH7) app downloads and has surpassed Twitter, Telegram, Reddit, Pinterest and Snapchat in monthly active users. India in particular has embraced the platform, with 600 million downloads of the app – a third of the country’s smartphone users.
A key trend related to effective content is engaging your customers. Personalization strategies, design thinking and thoughtful UX attract and retain users, and younger users naturally expect this tailored approach. 63% (https://bit.ly/3AzWRz9) of consumers are very upset with generic advertising, four in five (https://bit.ly/3AzWRz9) are more likely to engage with an organization that offers personalized experiences, and nine out of ten (https://bit.ly/3AzWRz9) find personalization appealing.
Content is becoming increasingly interactive. Breakthroughs in artificial intelligence, particularly in natural language processing (http://bit.ly/3U2ct56) and image generation models (http://bit.ly/3U2ct56), will fuel the rise of a new wave of chatbots, Online assistants and Internet search. It will eventually become virtually impossible to distinguish between AI and humans online, raising ethical questions even as it allows humans to access and interpret knowledge more effectively than ever before.
A broader trend relates to the economics of creation and the relationship between creators, fans and distribution platforms. Content creators are also exploring new ways to monetize their work. Platforms like Patreon and Kickstarter are now well-established mechanisms for directly supporting artists and creators, and NFTs and crypto have the potential to empower the creative industries.
Staying current in a rapidly changing world requires a constant focus on innovation, disruption and global markets. According to McKinsey and Company (https://bit.ly/3ibGgLq), staying ahead of today’s uncertainty requires real-time access to granular information. Understanding markets and customers, and identifying and responding to growth opportunities will allow some content providers to succeed where others fail.
Mondia Digital’s Content-as-a-Service solution is powerful, customizable and scalable, creating personalized digital experiences for end users across its content-agnostic platforms. Rapid operational strategies, nimble, high-performing teams and a dedicated focus on customer experience enable robust, evolving content models. Mondia Digital enables global enterprise brands to respond to these growth opportunities by enabling companies to digitally connect with their consumers through best-in-class entertainment solutions that deliver improved time to market, scalability and continuous innovation.
Distributed by APO Group on behalf of Mondia.
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