It's Time to Get On Board with Video Marketing for These 10 Reasons
We’ve been seeing a steady rise in video marketing through platforms year over year, so it begs the question: should my business be using video marketing?
Spoiler alert! The answer is yes.
No matter the industry or type of business, video marketing has been boasting incredible results for business that incorporate it into their content strategy.
Before you can justify allocating a portion of your marketing budget to video marketing, you’ll need to have some statistics to back it up. We love stats and data when it comes to making strategic decisions, and so does company leadership.
1. Consumers prefer videos over every other type of marketing content
54% of consumers prefer video over all other types of content from businesses they support according to a recent HubSpot research study.
Video is the most entertaining and engaging form of content, so consumers are naturally inclined to be more receptive to it. Videos make it much easier for us to receive and digest a large amount of information in a shorter amount of time.
Putting out a piece of content that makes your audience’s lives better will boost your conversion rate!
2. Businesses are increasing their video marketing presence
Video marketing gained heavy traction in 2017, and it has continued to grow aggressively leading into 2019.
According to The State of Video Marketing 2019 by Wyzowl, survey results showed that in 2017, 63% of businesses used video marketing in their overall marketing strategy. That number jumped to 81% in 2018 and is now currently at 87% at the beginning of 2019.
Remember back in 2012 when social media was still somewhat optional for businesses, yielding only positive results for the select few that did it correctly? Today, we’d see it as an absurdity if a business didn’t have AT LEAST a Facebook page.
The data shows that video marketing is following that same trend.
The question of, “Should we incorporate video into our marketing strategy?” has now turned into, “When can we incorporate video into our marketing strategy?”
That leads me to the next point.
3. The noise level is rising
Wyzowl’s data showed that 90% of marketers feel the level of competition and noise has increased over 2018.
Rising noise levels is great news for the marketers that enjoy being challenged.
For the lazy marketers, this is probably more of a con rather than a pro. When you see the noise level start to rise in an area of marketing, that means it works (for the ones that do it correctly).
Your strategy needs to be well thought out before a chunk of your budget gets spent on video marketing. Building a solid video strategy means studying the successes and failures of video marketing.
Look at it from the consumer lens just as you would any other form of marketing. Study the impact it’s had on businesses that are out there killing it! Once your strategic framework is in place, you can begin building out your videos and determine how your business will break through the noise.
4. Results are trackable
Data-driven results are the holy grail of marketing. It paints a picture that shows not only if you’re doing the right thing, but also if you’re doing the thing right.
The problem with a lot of marketing channels is that you are unable to measure exactly the point at which you lost the attention of your audience.
When you launch a click-ad campaign, influencer spots, or even the good old-fashioned print media, you can generally be able to measure if it works or doesn’t work for your business. That’s it.
Now businesses are using video, a timed and recorded message that you send to the world.
Then the cool guys and gals over at Google decided to launch Google Analytics. Put video and Google Analytics together, and you’re able to see when your audience engages and/or tunes out. To the exact second.
This is the gold standard of insights. It gives you the ability to tweak and improve your messaging to a much higher level of accuracy, and much faster than any other form of marketing.
5. Video motivates your audience to make a purchase
The overall goal with video marketing is to boost your conversion rates, right? How good can a marketing asset be if it doesn’t turn the window shoppers into paying customers?
Nearly two-thirds of shoppers say video has given them ideas and inspiration for making purchases. Of that group, more than 90% say they’ve discovered products and brands via YouTube.
Consumers are more engaged with brands when viewing their products and services through video. They get a chance to see it in action, which then makes the consumer picture themselves using your product or service.
This all lies within your strategy and how well you execute. If you see your conversions begin to rise after implementing video marketing, it means your message is adding value to your audience’s lives.
6. Google and Facebook have created platforms for video to succeed
There is virtually no barrier to entry for video marketing with platforms like YouTube and Facebook. These two platforms dominate the space of internet video.
In 2018, both YouTube and Facebook saw that their users spent an average of 15 hours per month using their services.
Facebook closely trails YouTube for video consumption and brand discovery.
This means that if your target audience is using these two platforms, incorporating video marketing into your strategy brings a high chance of connecting and engaging with current and potential customers.
7. Videos increase your website traffic
The ultimate goal of getting people to land on your website (and stay there), is to make a sale. Having a well-crafted website that is easy to maneuver and find information is incredibly important, as is the content within the website.
84% of marketers say that using video has helped increase website traffic, and 80% of marketers say that video has increased the dwell time on their website.
Customers need to be able to quickly find the information they need about your product or service when they land on your site.
As mentioned before, videos are a great way for customers to learn and process large amount of information in a short amount of time. 94% of marketers say video has helped increase user understanding of their product or service.
When a customer is able to get all of the answers they need right away when they land on your website, it makes the path to purchase a seamless experience.
8. Your competition is doubling down on video
Businesses that have incorporated video content into their marketing strategy are continuing to do so year over year.
When surveyed, 99% of marketers that used video in 2018 will continue to use video in 2019. Of that group, 88% said they plan on increasing their video spend in 2019.
The industry is seeing that happen. In all market sectors, there has been an increase in digital and mobile media investment by 53% since 2016.
9. Your audience wants it
Overall, consumers are fairly satisfied with what brands are putting out in the video-sphere.
When surveyed, 87% of people would like to see more video from brands in 2019. When asked what type of videos they want to see more of, 39% of people cited explainer videos.
Videos are the most engaging form of content you can put in front of your audience. When you are able to explain exactly how your product or service works, the only thing your viewer needs to decide is whether or not to spend their money.
When brands are able to package up all the facts and tips about their product or service in a short, digestible video, you’ve added value to your viewer’s shopping experience.
You are making it easier for them to buy in.
10. The future is video
Experts predict that video will account for approximately 78% of the world’s mobile data traffic in 2019.
Considering the fact that the average adult in 2018 spent 3 hours a day using the internet, that would mean there is a strong chance your audience is watching about 2 hours and 20 minutes of video each day.
As companies like Google and Facebook continue to ramp up their video streaming services, the average time we all spend watching video is expected to increase.
Consumers prefer video content over all other forms of brand communication. They expect to see more video in the future, and are looking forward to it.
When you put all of these compelling components of video marketing together and view them in the same lens, it becomes quite clear that video marketing is the future of brand communication.
A Final Word on Video Marketing
If you were on the fence about starting video marketing before, we wanted to give you 10 really good reasons why you should be doing video marketing sooner rather than later.
No matter the size of your company, the data shows that video is a strong asset everyone should have in their marketing arsenal. Video marketing has undoubtedly brought positive results to a large percentage of the companies that have used it in their marketing strategy.
Marketing strategies and budgets are switching gears towards video marketing because viewers are engaging with these videos. Brands are being discovered and gaining large amounts of traffic and conversions by incorporating video into their strategy.
Even if your company hasn’t been using video, the ship hasn’t sailed. There’s still plenty of room to get through the noise level and succeed with video marketing.
In order to get started with video, you’ll need to know your brand’s story and have a strategy. Then you can collaborate with video marketing agency to build out your videos.
Our crew is able to work with your marketing strategy and learn your brand’s story in order to create a video to tell the world about what you do.
Now it’s just up to you to decide. Are you on board with video marketing?