Video Matters Most
We recently hosted a Business Breakfast event at the prestigious Raffles at the OWO in London where a panel of industry leaders convened to discuss the increasing importance of video content on social media for expanding reach, enhancing engagement, and generating revenue.
In other words, why video matters most.
In the first of a three-part series summarising the key takeaways from the panel discussion, we present exclusive insights from Hannah Bennett, Head of Travel at TikTok.
The Rise of Short-Form Video
When you stop and think, we’ve actually come full circle. YouTube launched in 2005, pioneering the world of online video sharing and essentially becoming the first social media platform. Facebook arrived two years later, followed by Snapchat’s ephemeral content sharing in 2012, a precursor to today’s Instagram Stories. Today, TikTok has completely transformed the landscape of short-form content, reshaping how we create and consume social media content for hotels.
TikTok's innovative algorithm and user experience disrupted the industry and compelled platforms like Instagram and YouTube to adapt to remain competitive.
Of course, even the technology we use to consume video has evolved. The shift from desktop to mobile has led to a drastic change in video formats: from 4:3 to 16:9, and now to the dominant vertical 9:16 format.
From Channel Changing To Smartphone Scrolling
In 2012 the UK was a nation of TV addicts; 94.5% of UK adults watched weekly. Today, that figure has dropped to just 61%. Conversely, 92% of UK adults now watch social media videos weekly. And with 82.5% of all web traffic being video, it’s abundantly clear that social media video content now dominates the digital landscape.
However, this influx of content has taken its toll on our uhh... attention spans! They've shrunk by 30% to a mere 8.25 seconds. To capture attention from consumers today, hospitality brands must create engaging, concise video content.
Storytime
While how we consume video has evolved, our fundamental desire for compelling storytelling remains unchanged. “As people watch less TV, they’re perhaps moving to TikTok for entertainment but audiences are demanding a story” noted Hannah Bennett, Head of Travel at TikTok.
In fact, 62% of TikTok’s users expect luxury brands to tell stories and present new experiences.
“They want to see a beginning, a middle and an end. We’re still talking about short-form content, but ironically short-form content is getting longer and you don’t have to fit everything into one video. People want brands to tell them a story.”
Beyond Gen Z
TikTok’s growth has been phenomenal and the platform now boasts well over 1 billion users, with 100 million of those within Europe alone. But, are they of the right profile for luxury hoteliers?
While TikTok was initially heavily associated with Gen Z and young millennials at launch, its user base is now maturing. “The audience has grown and diversified, and the average age of a user is now 30” said Hannah.
“One of the most common questions I get asked is whether my guests are on TikTok” added Andy Whiteside, Director of Digital Communications at 80 DAYS, “my advice is always to register an account and search for your brand. More often than not, your guests are already on-property and filming videos”.
Regardless of demographic, one of the key elements of a brand’s success on TikTok is their algorithm and how well it matches content with a user’s profile. “You’ll see content that you’re interested in, so if you lead a luxury lifestyle, you’re far more likely to see luxury content in your feed” concluded Hannah.
"Searching for a luxury hotel on Google probably won’t show you the immersive, full-screen, experience that guests want. They're looking for that authentic insider look at where they’re going to be staying, before they make a booking”
Hannah Bennett, Head of Travel, TikTok
TikTok for travel planning…
TikTok isn’t just for entertainment, it’s also a powerful search tool. In fact, 75% of TikTok users are actively searching for the content they want to see, within the platform itself, with nearly 1/3 looking for travel related content. Think back to the audience numbers; that's well over 300 million potential new guests.
It all comes down to the experience. As Hannah points out “searching for a luxury hotel on Google probably won’t show you the immersive, full-screen, experience that guests want. They're looking for that insider look at where they’re going to be staying, before they make a booking”.
So, it’s pretty clear that travel is important to TikTok users. In fact, 37% of users save travel posts on their phone to fuel their wanderlust, while 19% even have a dedicated folder for travel.
… and booking
These aren't just window shoppers. 68% of all social media users who made a booking, as a result of seeing social media content on their smartphones (across the various different social platforms) have the TikTok app installed. So, from a conversion perspective, TikTok is home to users who are very willing, and able, to plan and book travel. And they’re booking a lot of travel, 5.3 trips per year on average apparently.
They’re discerning travellers too. If you think they’re booking vacation rentals and backpacking hostels, think again. 71% of TikTok users choose hotels over other accommodation options and 36% are seeking out a “luxury” property.
Addressing the elephant in the room
We've all seen the headlines. Certain countries have a clear uneasiness with TikTok and, for geopolitical or social reasons, are considering banning the app.
Hannah was quick to downplay the chances of TikTok being banned, “we're super confident that TikTok is here for the long run. The law that would potentially ban TikTok in the US, we believe is unconstitutional and though I can’t say much more as we’ve submitted our rebuttal to the courts, we do continue to innovate and invest in the US market to provide a safe platform that can spread joy and creativity, which has always been our mission statement”.
Phew.
Ultimately, short form content delivers. In research conducted by TikTok and PhocusWire, 59% of social media users (across all social media platforms) booked as a result of seeing short-form video content.
If you’d like to learn more about TikTok, they have a really helpful tool called the Creative Center, that shares insight on what’s trending, top performing songs, creators and much more.
Register your interest in attending future 80 DAYS Business Breakfast events here.
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