How can video marketing help your business?
November 12th 2019
There's a world of information out there on how video marketing can help you build awareness, generate new opportunities and win new business. We've compiled lots of it here in one easy to digest article. You're welcome.
Written by: Edna Rodriguez
According to HubSpot’s The Ultimate List of Marketing Statistics for 2019, if potential customers visit your website and are faced with both video and text, “72% of people will watch the video to learn about a product or service rather than read the text."*
The interesting thing is, that same study showed that 81% of people had been convinced to purchase a product due to video marketing.*
Source: "Video Marketing for Business: Benefits, Why and Ways to Do it" by Viewership.com
That means if an audience watches a video, they are much more likely to buy your product or service.
So, why isn’t everybody using video marketing for business yet?
Well, a lot of businesses are stuck on the idea that writing content is easier to produce so continue to do so. But really the businesses that are getting ahead are embracing video content marketing full on. Doing so boosts business and increases conversion rates.
Let’s have a look at some benefits of video marketing for business.
Increase brand awareness
Video marketing creates awareness. When people recognise your brand, logo and company they are more likely to remember you.
There's lots of research out there that shows just how important brand awareness is in making sure that you get that sale. There are many marketers who will tell you that trying to convince the powers that be to invest in brand campaigns is a tough job. Counter this argument by sharing some of the extensive research that there is on the subject - if the boss wants numbers there are plenty of them around.
Spreadsheet jockeys are misunderstanding the marketing funnel, by Mark Ritson in Marketing Week.
Increases your online presence
To increase sales, you need traffic to your website and you do this by having an online presence in other places. MarketingSherpa's Consumer Purchase Survey shows that people between 18-34 years are more likely than all other age groups to follow brands on social media. As a marketer you can take advantage of this by giving potential customers different avenues to connect with.
Gives personality to your business
Take time to think about what impression you want to give your customers. People tend to be more loyal towards brands that appeal to them on an emotional level. According to the Tempkin Group's study on emotion, individuals are 15.1 times more likely to recommend the company, 8.4 times more likely to trust the company, 7.8 times more likely to try new products and services and 7.1 times more likely to purchase more from the company.
Builds trust in your brand
Your videos can focus on selling, answer common questions, or discuss other relevant topics. This positions your business as an expert in your industry. Kissmetrics found that 93% of millennials have made a purchase based on a recommendation from friends and family, and 89% of millennials trust these recommendations more than claims by the brand. You can see how building trust is extremely beneficial.
Videos get more engagement with your audience than any other type of posts. Brightcove’s 2018 Video Marketing Survey found that 53% of customers engage with a brand after watching a video on social media.
Convey information more efficiently
Video is a great way to showcase your product or service. Wyzowl’s 2017 State of Video Marketing Survey states that 74% of respondents said that they have been convinced to buy a product or service after watching a brand’s video.
So, now let’s see the direct impact that video marketing has on your business.
- Video boosts conversions and sales – Video allows your audience to see your business with a personality, builds trust and loyalty, and increases awareness. Aberdeen Group reports that video marketers get 66% more qualified leads.
- Video marketing shows great ROI – Video marketing has a huge return on investment and sometimes even bigger than expected. Hyperfine Media’s infographic shows that including video on a landing page can increase conversion by 80%.
- Google loves videos – Using the video description, title, and tags, can help optimise your video for SEO. Moovly highlights that a brand is 53 times more likely to be display on the first page of a Google search if it has a video embedded on its website.
- Video appeals to mobile users – With more users on smartphones, mobile views are also on a rise. Wyzowl’s study found that 90% of consumers watch video content on their mobile devices.
In order to help you on your way, let’s see ways you can start your video marketing campaign for your business. Viewership suggests the following points:
- Introduce yourself
- Share the details of what you and your products do
- Give customer testimonials
- Educate your audience
- Share your own creation story
- Interview experts and influencers to spread the reach
- Create interactive videos*
Video marketing is clearly great for business and it’s becoming increasingly more important. With the power of video on a rise it makes sense strategically to embrace it. You don’t necessarily have to have a big budget as long as the content is real and in line with your company’s goals.
Sources: "The Ultimate List of Marketing Statistics for 2019" by Hubspot, "Video Marketing for Business: Benefits, Why and Ways to Do it" by Viewership, Spreadsheet jockeys are misunderstanding the marketing funnel" by Mark Ritson in Marketing Week, MarketingSherpa Consumer Purchase Preference Survey: Demographics of customer reasons to follow brands’ social accounts, Temkin Experience Ratings Overview in Experience Matters, Kissmetrics in Forbe’s “5 Ways Millennials Show Love On The Internet And Why Your Brand Should Care”, “New Research from Brightcove Finds Video Content Impacts Product and Service Purchases, Particularly by Millennial Consumers” by Brightcove, “Video Marketing Statistics 2017” by Wyzowl, Aberdeen Group, “Infographic – 31 Must Know Video Marketing Stats” by Hyperfind Media, “4 Great Reasons You Should Use Video Marketing” by Moovly.