The importance of video marketing for your business: why creative video content is king.
On a daily basis, we are living in a tech-obsessed society where consumers expect instant gratification and information. From an online library of blogs and articles to social media channels and visual material, it’s no surprise that marketing tactics such as these are taking the internet by storm.
Traditional methods are no longer able to compete with the high demand of digital marketing, whilst a more relevant approach such as video is a highly effective tool currently ruling the industry. Not only is this one of the most popular forms of communication, but it is also one the most profitable. Are you interested in how video marketing can work for your brand? Here’s our breakdown of why video should be your primary form of advertising.
Why do audiences prefer video?
Video strategy is a naturally engaging style of marketing that’s easy for viewers to digest. Reading about a brand or product can be fairly time-consuming, whereas video advertising is a far more appealing approach that suits our current style of living. It allows the audience to visualise and learn about the service in an efficient amount of time while accommodating different learning styles and allowing the viewer to watch at their own pace.
According to a study by Forrester Research, if a picture is worth 1000 words then a video is worth 1.8 million. This just shows how effectively you can communicate your message in a form that not only represents your brand and value proposition but a way that builds a relationship with your customers and prospects.
The potential audience is huge.
Since broadband and the launch of 4G, the internet has unleashed videos potential, wherein 2017 it’s expected to make up to 74% of all consumer traffic. Videos are continuously uploaded, shared and watched by millions of viewers every single day to appease the needs of both entertainment and information. A study showed that 1 in 3 people in the UK views at least 1 video per week, creating a pool of over 20 million potential viewers. Therefore, with the support of our ever-evolving technology, on-the-go web access and a carefully planned out strategy, your video could have the ability to go viral!
This Dollar Shave Club video is just one great example. Once this video was released, it catapulted the unknown brand into the spotlight and resulted in over 24 million views! Now they have over 3 million subscribers and were bought out by Unilever for $1billion. One word of advice though: creating a viral video is tough and should never be the ultimate objective.
The effect of video on your business.
Compared to traditional forms, online video marketing reaches a larger audience and ensures a business portrays their brand in a concise, yet powerful way to capture the viewer’s attention. Also proven to increase a brand’s overall sales by 6% on all products, video marketing is not only responsible for the contribution of selling millions of products worldwide, but it’s also one of the most effective methods for a valuable return on investment. Studies suggest that if a user enjoys the video produced for your brand, it increases purchase intent by 97%, proving just how cost-effective and beneficial this could be for your business.
According to insivia.com, incorporating a video on a landing page can increase conversion on your site by 80%, and viewers who see demo videos are 1.81x more likely to purchase than non-viewers.
Would videos work for your business?
The best thing about video is that any business can utilise it. Although explainer videos are the most obvious example, the range is vast and there are many types that will suit your own unique brand.
An explainer video is a popular way to produce an overview of your brand’s story. It can be used to demo your product, allowing users to really get a sense of the item in an accurate and concise manner.
On the other hand, instructional videos are a very valuable tool used mostly for educational purposes or as part of a service’s support package. Many companies are also now turning to video for corporate learning and training due to the significant decrease it allows in both travel time and cost. A business can instead send a video over in a timely fashion, whilst explaining their product in a way that is far more engaging for their employees.
Charities are also embracing the power of digital video by launching impactful appeals to connect with audiences on a wider scale. With the benefits of 24-hour availability and billions of social media users to share the content, charities are able to create campaigns that have effective results.
Although there will always be a place for other forms of marketing, it’s clear that utilising video as a core part of your strategy is not only a smart thing to do but also essential in this day and age. Nothing can compete when it comes to communicating your message as effectively and quickly as video, therefore, proving that video marketing is a worthwhile investment for your brand.