It is not too difficult to see why video marketing is so popular these days, for one thing, it is an easy format to understand that gives our eyes some rest from the plethora of textual information available. This would be the reason why the world apparently watches 1 billion hours of YouTube social video every day.
And those who are interested in building a career in digital marketing must have a complete understanding of the power of video marketing. This is not just because they might be interested in making interesting videos, but because they will have to learn to include video into their content to remain competitive in the market.
Here, we have outlined some of the best practices for online marketers to develop and share videos and highlight some important reasons why video marketing is gaining importance.
Video is continuing to grow in importance and popularity, which means it is important to stay on top of the recent advances and statistics to develop a strong online marketing strategy. A video is an effective form of content and its popularity is rising along with the rise of social media. Even though so many of us consume online videos daily, many digital marketers still are not utilizing video as part of their online marketing strategy or are not seeing the finest results.
To inform your marketing strategy and help you attain the best ROI from campaigns; we have some video marketing statistics that could assist you to get to grips with video marketing.
- 92% of marketers say it is a significant part of their online marketing strategy- In 2020, 92% of marketers say that video is a vital part of their marketing strategy. This has ultimately increased from a mere 78% in 2015. This data shows the importance of video marketing is growing at an alarming rate.
So, what is the thing that makes video marketing so important? According to 88% of digital marketers, video marketing offers (video marketing tactics) them positive ROI. When you consider that just 33% said the same in 2015, it shows the sentiment of customers towards video is very much strong now.
- In 2021, people will spend 100 minutes a day watching online videos
As more and more brands are using videos, customers are now watching more videos. It is expected that in 2021, the average person will spend about 100 minutes per day watching online videos. This proves that it is a 19% increase to regular viewing minutes in 2019.
Experts believe that the consumption of online video is growing, and the average individual will spend half as much time seeing online videos as they spend watching conventional television. This fast-growing supply of audiences is increasing rapid growth in demand from the advertisers, making online videos one of the fastest growing online channels.
- 99% of people using video will continue using it in the future
With the ROI of online videos rising along with the time customers are spending to watch them, it is surprising that 99% of the marketers who are presently using videos will continue to do so in the future. Over this, nearly 95% of these marketers believe to boost or maintain their existing spend on video marketing.
- 48% of customers want videos to show what they are interested in
Apart from entertaining, videos can play a vital role in a customer’s decision-making procedure. However, to convert a customer after watching a video, you must make sure that you are meeting expectations.
In terms of the perfect qualities that customers look for in videos to be useful to their decision-making procedure, about 48% want videos to show their products and services. Around 43% look for interactivity, with the capability to decide what info they are interested to see and at what time they want to watch it.
Why Video Marketing?
Video is an engaging and versatile content format that not just gives a real-life idea of what is going on, but it is also simple to share across various platforms. Customers like it more as it is easy to use, engaging, and entertaining. Marketers prefer video marketing as it provides a huge return on investment (ROI) through different channels.
Video is easy to access from everywhere. The only thing required is internet access. While there is a trend towards higher quality video on an expert level, anyone can sit in front of their computer and create their own video in less than an hour.
Different Types of Video
There are varieties of video marketing. Part of developing an effective content marketing strategy (content writing tools for professionals) is having an idea of your purpose before you start to create the video. To that end, you want to ensure that both the type of video and the channel purpose matches with the purpose of the video.
These are the few places where you can use different kinds of videos.
Explainers can educate customers about your products and services and can be used along with customer service activities, instructions, and a wide variety of applications.
Interviewers can assist to promote conversation between sides or show a special influencer or guest. If you are making videos that feature guest experts, for example, you can always re-use the audio and market it in the form of a podcast.
Demo videos and product reviews can be developed by brand ambassadors in exchange for free items. If you can find people in the same industry looking to improve their social media followers, this can be a great way of attaining free advertising.
Doing this can help you to find information regarding the product if people doing video reviews have a lot of comments and engagement. So, in a sense, it can be used as market research.
Live video is one of the best options to get up close and personal with your audience, and it works well on social media channels.
Reasons Why Video Marketing is Growing
Videos are educating and informational
97% of marketers claim that video helps customers to understand their products and services. Today, marketers are no longer choosing a pitching kind of approach.
What is the reason behind this? There are too many options out there. Businesses and customers do not need to be sold to; instead, they are doing a rapid internet search to find the best products in their neighborhood.
Videos are a way of starting any conversation
It can be at times difficult to start a conversation, mainly if your business is new in the market, and when most of the people do not know about it. However, the case will not be the same as you create a promotional video.
Several studies show that videos always move people from being skeptical to acquaintances, and even if they are relaxing at home, there is no right way of welcoming potential customers to your business if it is not done with a professional touch and a documented video clip.
Video marketing helps in increasing the number of clicks
Attaining an optimal click rate can be a challenging task in a few sectors. However, the use of video content has been shown to grow the number of clicks in PPC ads and the opening rate of emails in mailing campaigns. The explanation is that moving pictures grab more attention compared to static images or textual content.
Thanks to video marketing, as it improves the performance of marketing actions. However, ROI as well as conversions also grow with video marketing.
Helps in increasing sales
Another answer to why video marketing is growing lies in the most significant metrics of a campaign; conversions, i.e. sales attained. Studies show that over 7 out of 10 marketing experts believe that their conversion rates increased after using videos. Leaving aside this and several other studies, eCommerce must use video in their marketing campaigns.
Only then, they will be able to find whether their sales enhance or not. Of course, this format will enhance their sales performance. What do you think why eCommerce giants like Amazon, Ali Express, and eBay invest millions in video marketing?
Boosts conversions
90% of customers claim that a video assists them in making a purchasing decision. Studies prove that 74% of people who can see a product or service in action through an explainer video will purchase it. And landing pages are one of the best places to run videos, too- apparently improving conversion rates by nearly 80%.
Another important reason why video is useful for boosting conversions is that they keep people around for a long time on the website. This is mainly true for those who are not avid readers. Supposedly, people seeing a video stick around for more than two minutes of they watch a video.
Google supports video
Videos allow you to grow the time spent by customers on your website. Longer exposure helps in building trust and tells search engines that your website has good and informative content.
Research has proved that you are 53 times more likely to show up on the first page of Google if you have a video on your website. As Google now owns YouTube, there has been a substantial increase in the number of videos that affect search engine ranking.
So, ensure to optimize your videos on YouTube for SEO. You must write interesting titles and descriptions. Also, add a link to your site, products, and services. Give potential clients a way to follow the next step. And discover the world of interactive videos to promote more actions.
Conclusion
Video marketing is one of the most popular forms of marketing in today’s time and it is going to stay. Video is not just fun, but it is one of the best ways to get close to your customers and provide them a glimpse of what your business is all about.
Here, the key is to think beyond product and profit. Show your customers your philosophy, share some information about an interesting event, or try to make a video in which you can share some valuable info. The more your audience come to know about your positive practices, the more likely they will stick around your business.
