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The Importance of Video Marketing

July 24, 2019,   80
The Importance of Video Marketing

When It comes to setting a digital marketing budget, the go to strategies are probably services like pay-per-click (PPC), search engine optimisation (SEO), social media and email. These have all become quite standard for any digital team. However, in 2019, if companies really want to engage with and build relationships with their customers, video marketing is likely to be the dominant competitive force. Consumers love watching videos to learn and there is no better way to strike engagement right now. Given that almost anyone can record a decent quality video on their Smartphone, there isn’t even an excuse not to get started like there has been in the past.

Why should I add video to my digital marketing strategy?

Just saying that video marketing is important might not be enough to cement it into digital budgets. However, when you start looking at the data and how video could affect revenue, the numbers are beyond compelling.

  • McQuivey’s Forrester study has suggested that a video is worth 1.8 million words (based on the theme that a picture is worth 1,000 words)
  • Video earns 12 times more shares than text and images combined
  • Hubspot research showed that 55% of people watch a video from start to finish. More than any other type of content
  • Aberdeen Group research showed companies using video grow their revenue 49% faster year on year than those who don’t
  • The same Aberdeen Group research showed companies using video had a 27% higher click through rate than those who don’t as well as 34% higher conversions
  • 5 billion videos are watched daily on Facebook and it is predicted that in five years time, the platform will be entirely video based
  • Videos can boost search engine traffic by as much as 157% and are a great way to enhance your SEO strategy

Those figures alone are quite convincing but when we see that 87% of marketers are already using video, it is becoming a fundamental content type to just keep up with the competition.

Source: Score.org

What is video marketing?

Achieving the sort of numbers above doesn’t just come from posting any old video online. Creating a post and a video marketing campaign are very different things.

Source: Blue Corona

Consumers want video stories

54% of consumers interviewed by Hubspot say they would rather watch video than receive an email or social media advertisement. However, that doesn’t mean that want to see a video of text messages. Like any digital marketing campaign, a video needs to tell a story that the consumer wants to know about. The video should make the consumer feel something and push them towards an action whether that be sharing, buying or liking the content.

Beyond that, the video needs to suit the consumer lifestyle. Many videos are viewed in public areas which is why the default is to have the sound muted. Bear this in mind when telling a story and don’t create something that your viewers are only able to watch when it isn’t convenient for them.

Live videos like those available on Facebook are a great digital marketing tactic that can gather instant engagement from the customer. It can even lead to instant purchases via direct interaction with the live audience.

Brand awareness

Videos can show the personality of your brand in a way that text content and static images can’t. Viewers can empathise with a video story and build a true relationship with the brand. As well as that, videos are a brilliant way to answer frequent questions about your brand and create how-to style guides without forcing your potential customers to read a lot of text.

Cost effective

As SmartPhone continue to become more powerful, it is possible to shoot a high-quality video with your own technology. There is no need for expensive equipment or software like there may have been in the past. It doesn’t cost anything to post a video to social media platforms like YouTube or Facebook and at the same time, you can reach millions of people. If you compare that to email marketing where you generally need a platform that has a subscription fee and need to spend a lot of time making relevant content, creating a video is almost a no-brainer.

Video is easy

Anybody can shoot a video and do so quickly. Whilst it might be nice to use professional lighting and cameras, the authentic video has become a popular digital marketing strategy over the last couple of years. Even with scripting, you could read a blog article that you’ve written or something fresh from the news and adapt it to your personality. Some businesses do interviews with sales staff to ensure the video is natural whilst still creating a personality for the company.

Is video the future of digital marketing?

Source: Act! CRM

Video will certainly play a huge part in the future of marketing, especially if there is truth in Facebook becoming a video only platform in the next five years. As Google algorithms now include video as part of the SEO ranking, quality dynamic content is a must have within any digital marketing budget.