How video marketing opportunities are opening up for smaller businesses
Harnessing the power of video for marketing is a challenge for any business, but for small to medium sized businesses more limited on resources, it can be even more daunting, with costs high and producing high-end video complex.
However smart video storytelling application Magisto claims to be changing that with the extension of its platform to enable smaller businesses to more easily use video as part of their marketing mix.
The company has introduced user interactivity into its patented artificial intelligence engine, Emotion Sense Technology, which it says improves control by the user and usability of the finished movie for business services through machine created video.
A new technology called Smart Storyboard can be used to influence production value, define scene selection and refine messaging and brand movies without the traditional video editing and production required.
“The Smart Storyboard lets the business user focus on how to tell the story rather than worrying how to edit, produce and create that same story using complicated tools,” said Magisto’s CEO Oren Boiman. “It’s a bit like giving specific creative direction to your own video production team; that production ‘team’ just happens to be an intelligent machine that works in minutes rather than hours,” he said.
“By extending Magisto to businesses we have reduced the cost of producing a professional video by two orders of magnitude while making it a thousand times faster because it’s generated by a machine,” said Magisto’s CMO Reid Genauer. “Within the last year, we have seen every major social network optimised for video, creating the world’s first effective distribution platform for long-tail business video,” he said.
Facebook recently reported that the number of video views increased 10 times over the last year to 8 billion views a day. “Video marketing is no longer a ‘nice-to-have’ it’s mission critical for any business,” he said.
Available on the web now, Magisto for Business will be available on mobile devices later this quarter.
The artificial intelligence (AI) market is set to reach $3,061 billion by 2024 according to recent research. The AI Expo world series looks at the future impact of these technologies, including business intelligence, machine learning, and chatbots. Find out more here.
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