054 055 This change can be represented through the economic theories of consumer choice, which assumes that individuals make their decisions based on maximising their utilisation. Since consumers have finite and limited attention spans, and a mix of provoking content competing for their attention, consumers are naturally inclined to short-form media to efficiently satisfy their entertainment needs. Given that, it is evident why there has been such an outstanding growth in the use of short-form content in advertisement and marketing as it aligns with consumer’s attention span almost perfectly. Increased viewership retention and engagement is a core focus for the marketing campaigns of many modern businesses. This factor can be maximised with short-form media’s easily digestible and highly stimulating nature. Moreover, the interactivity of short-form content helps to establish deeper connections between brands and consumers. In contrast to conventional advertising schemes, which frequently take a more one-way approach, social media sites like Instagram and TikTok promote active engagement and authenticity. We can see this where studies suggest that Short-form media ranks highest for lead generation and engagement. This further facilitates businesses to create strong brand loyalty, giving them an edge over their competition in today’s aggressive market. These alterations also have substantial economic effects. For example, brands are reallocating investment into advertisement to promote short-form media platforms because they provide a significantly higher return on investment. Influencers are a great example of a low-cost, specialized brand-loyal audience connection that businesses hold in high regard. When brands collaborate with these influencers, they can increase their reach and engagement, and tailor their content to reach niche markets. Additionally, short-form content can become viral and bring an exceptional level of brand exposure without any serious levels of investment. This reduces total risk of advertisement schemes by a huge margin. When distributed through the most popular platforms, a few hours would be sufficient to procure millions of views on their content, an invaluable level of exposure for most businesses. Most of the leading platforms provide robust analytics tools which allow creators to track the number of views, likes, shares and in some cases, even the demographic which their content is reaching. The provision of such priceless information can act as a source of research for many businesses and marketers can gain a vast understanding of their audience’s preferences to allocate their resources in a more efficient way which provides greater returns. However, it is important to consider that there are also a multitude of hindrances when it comes to the use of short-form content which can limit its effectiveness in marketing. One of these is the increased importance of creativity and continuous innovation in advertisements. When there are so many businesses competing for consumer’s attention, it becomes increasingly competitive, and firms must adapt constantly and place major importance on product differentiation to stay in contention for viewership. Another potential limitation of this media is that it often sacrifices depth and information for conciseness and excitement. It can be extremely difficult for firms to effectively convince a consumer of the value of a good or service in only a short length of time. In conclusion, we can see how the rapid growth of short-form content has reshaped marketing, revolutionising how businesses reach consumers. Throughout this article, we have explored economic impacts of the growth, placing focus on the ability to align with human’s diminishing attention spans and drive higher levels of engagement. In contrast, we have also delved into the limitations of short-form media such increased requirement for innovation and brevity. With the continuing evolution of the digital landscape, short-form content will be a major determiner in shaping the future of digital marketing. If brands continue to adapt to these changes in consumer behaviours and preferences, along with technological advancements, they can continue to utilise the influence of short-form content to drive economic growth in the modern age. Sources: SEJ - Content Trends: How Short Videos & User-Generated Content Impacts Marketing Steven Bartlett, “The Diary of a CEO” Microsoft Study - https://dl.motamem.org/microsoft-attention-spans-research-report.pdf Social Media Marketing Report: Data from 1400+ Global Marketers-https://blog.hubspot.com/marketing/ hubspot-blog-social-media-marketing-report?hubs_content=blog.hubspot.com%2Fmarketing%2Fshort-formvideo-trends&hubs_content-cta=social%20media%20trends%20report%20 How TikTok RUINED Marketing - Company Forensics https://youtu.be/8d5FGhEDj60?si=Rt27LCDvD38blVe2 The Attention Economy - https://econreview.studentorg.berkeley.edu/paying-attention-the-attentioneconomy/
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