Why Video Marketing is so Important
The Significance of Video Marketing in 2018 to Boost Your Business and Ramp Up Sales
Video marketing has become the new trend of content marketing, taking the world by storm. According to a study by Cisco, Video content accounted for 69 percent of all consumer internet traffic in 2016 and as statistics present, it is likely to grow to be 80% by 2021. This translates to a mind-numbing statistic – Consumers across the world are touted to watch 3 trillion minutes of video every month in 2021!
With the aid of technological advancements and creative tools, marketers are offering interesting content which is entertaining, as well as easy to grasp and share. As the saying goes – a picture speaks a thousand words, videos have the innate ability to convey a lot of information in a short time by engaging users unlike any other form of content.
All this data points to a single undeniable fact – Video trumps all other forms of content to captivate & engage your audience.
It’s no surprise then that every company is now actively investing in video marketing as it ranks as one of the best marketing campaigns to reach out to a wider customer base in a shorter amount of time.
Video Marketing Statistics – Who’s Benefitting?
- Return on Investment (ROI)
If you are wondering if video marketing brings in good returns, or are you sceptical about the success of the campaign, here are some studies that aid in alleviating your concerns.
Findings of Aberdeen Group state that video marketers got 66 percent more qualified leads per year followed by gaining 54 percent in brand awareness.
Tiger Fitness, an online fitness supplements retailer stated that it achieved 60 percent returning customer rate with video marketing, which is three times the usual.
Wyzowl’s 2017 State of Video Marketing survey revealed that 83 percent believed that Video marketing gave them good returns on investments, with 94 percent claiming that videos were an effective tool in both promoting and educating on the product.
Among the companies included in the survey, 81% saw an increase in sales and 53% stated that support calls were reduced, thanks to tutorials.
- Businesses and Video marketing
Now moving on to the aspect of how businesses have embraced video marketing, you will be surprised that many ventures are actively investing in it given the large scale of viewers. Though researches read different numbers, it is more or less established that video marketing has become a widespread tool used by ventures of all scales.
According to Animoto, 55 percent of SMB owners have produced videos themselves or outsourced in the past 12 months; and a whopping 76.5% of marketers and business owners are seeing results of their video marketing campaigns.
According to findings by Social Media Examiner, 60 percent of marketers used video marketing with 73 percent planning to use it more in the coming year.
- Reaching consumers
With videos being uploaded every day, ever wonder how much time viewers spend to watch them? According to Hubspot’s research, 45 percent of people watch an hour or more of videos every day. Google stated that 50 percent of users in the age group 18-34 would watch a video by their favourite creator stopping their work at hand with 60 percent stating that videos did alter their worldwide view.
Concentrating on the aspect of shopping, almost 50 percent of users would prefer to look up a video before visiting the store. According to Wyzowl, 79 percent of consumers prefer video over reading about a product.
It has also revealed further data about the preferences of consumers stating that a good 84 % of viewers bought something after a viewing a video while 91 % took the time to watch a tutorial video.
However, with video ads, one must be careful about the content, the length, and voiceover, as any negative or uninteresting aspects can turn down the consumers. Wyzowl says 75% of consumers did not buy a product when the voiceover was bothersome.
So, keep in mind all the aspects from content to length to create a striking video if you want to gain customers.
- Marketing through Social Media
The account of worldwide social media usage is no shocking, with millions of users engaged in varied platforms. Videos have become a quintessential part of social media with millions sharing them as reinstated by Meeker’s 2016 Internet Trends reports which stated that Snapchat got around 10 billion video views followed by Facebook that got around 8 billion video views a day.
YouTube, Facebook, Instagram have become important video sharing platforms where ventures of all scales and marketers share video content engaging clients and consumers. Twitter acknowledges that videos on its platform is 6 times likely to be retweeted as photos. With more than 1 billion viewers in the age groups of 18-49, YouTube has more viewers than any US cable network.
To utilize the potential of such platforms, one needs to invest in creating a good video content to draw in customers.
Popular Types of Video Marketing to Explore in 2018
Now that the importance of video marketing is established, let’s take a look at the different types of videos that are significant to promoting and advocating services or products.
- Product Videos and Reviews
Videos that focus primarily on products that are soon to be released or in the market are one of the most common and effective forms of video marketing. They can explain the varied features of a product and how it functions followed by building enthusiasm on how the product could be the perfect article one could possess and how it enhances their daily lifestyle. Product videos are often featured on the official websites of the brands as they give a cohesive story of what the product is and what it does.
Product reviews made popular thanks to tech blogs and site is another sure way to incite interest in your brand. Given that the reviewer is a reliable source whom the audience trusts and rely on buying, they could be pivotal in promoting a brand’s presence.
- How-to or Tutorial videos
Offering actionable insights about your product and service can aid in engaging a lot of consumers. Helpful resources or content outreach are seen to be more effective in drawing in customers than promotional tie-ins where you try marketing connecting products. Address your target audience and provide tutorials that not only invoke interest about your product but also aid in educating viewers. Explaining the functioning of your product and the specifics which are easy to grasp, increase the reputation of your product and customer satisfaction levels.
- Presentation or Event Videos
Presentations are often engaging and lively, where the speakers throw in an occasional quip here and there amidst all the information galore. No wonder videos of presentations have gained quite the popularity, especially in social media owing to their compelling and shareable narrative. Giving presentations on network and company events can increase your brand presence and aid in promoting your product/service.
- Video Testimonials
One of the best ways to market your product or service is to include testimonials that display happy customers who have already availed the product. A testimonial could be the final push that consumers require before deciding on a product.
It can concentrate on the features of the product or highlight the services of your company. The key to creating a successful testimonial is having a genuine and objective viewpoint. Studies showed that people are drawn to testimonials than traditional ads, as they are from an unbiased third-party and can provide information about a product from a customer’s point of view. However, once again, the key is to have a sense of genuineness instead of a parade of paid actors reciting scripts.
- Live stream recordings
In 2016, a whopping 81 percent of internet users viewed more live content than in 2015. Seeing the growing potential, Businesses are now adapting to accommodate more of live streaming. The authenticity of live streaming is allowing companies to establish a connection with the viewers which is why live streaming is now adopted for product launches, creative discussions, and demos, etc.
- 360-degree Videos
360 videos are fast rising as a marketing tool owing to their entertainment value and the quality of freedom they provide the viewers with. Though not everyone is ready to take the leap with investing in this technology, the returns are fruitful, making it a worthwhile effort. The immersive nature of these videos makes for an invigorating impact where all the thoughts gone into the creation of the environment is sure to reach the audience as they completely engage with the story.
- Video Ads
Television still stands as one of the key platforms for addressing a major of the population especially the senior groups. Even a small video of 30 secs can promote your brand; the key is to appeal to both local and national customers by customizing it according to the preferences of the target group.
Video interviews are another way to create exciting content material for your product by interviewing the company or developers of the products. It allows consumers to know what went on behind the product and enables them to appreciate the nuances within it.
Vlogs or videos in blogs is an effective tool that is easy to make and doesn’t require much of the budget. The sheer engagement and individuality of the vlogs make it an interesting marketing tool.
Aerial Videography – Why Drone Footage is all the rage these days?
It has become quintessential for marketers to continually innovate new technologies to promote and drive their products home. With the information overload, there is a need for a little bit of extravagance to draw people’s attention away from the already loaded video content.
Utilizing Drones for their untapped potential can add thrust to your marketing and put you ahead of your contemporaries. Though not for every industry, drone footage can benefit those involving real estate agents, event consultants, tourism agencies, photographers, retail ventures and even personal trainers, among others.
This new marketing frontier can offer you interesting videos with varied vantage points that might be impossible with the usual shooting and are sure to leave your audience spellbound. From product demonstrations, company and customer profiles to construction stages, drones allow you to provide a complete overall story backed with invigorating and engaging behind-the-scenes stories.
However, there are certain limitations with drone technology, especially while filming outside on where it is allowed. One needs to get permission from the Civil Aviation authorities before filming for commercial purposes.
There’s no doubt Video Marketing will not only remain big but also grow in leaps and bounds in the coming years. However, just as with any other forms of marketing, it’s always the content that matters – a video will only provide a lens through which you can tell a great story.
Check out the video marketing work we have done for our clients here. It is very important to understand the value of video marketing and how it can add value to your business. For more information drop us a message here or call us on 083-1653485