Why we think every CEO should be paying more attention to video
It does not take a visionary CEO to realize why online video marketing is relevant for today’s business, but many companies are still severely underestimating the value, time, and resources that should be spent for this strategy. Even when businesses do employ digital marketing techniques, almost half still don’t have a set documented strategy for video marketing.
85% of businesses will be using video in 2017
Video Content Marketing is now a crucial aspect for all businesses large and small. In 2017, 85% of businesses plan to begin or continue using video content marketing strategies. That number is up from 60% at the start of 2016. The reason for this accelerated uptick; about 74% of all online traffic usage this year will be video and that number is only expected to grow in coming years.
Online users have lowered their attention spans
65% of people admitted they wouldn’t read a page of text but would be willing to watch three-quarters of a video. It is easier to watch a video and absorb information while using less brain effort or energy than reading.
Video content advertising is more effective than text and images
According to Google, 50% of Internet users searched videos about a product before going to purchase it. 46% of consumers said they watched a branded social video about the product before purchasing. Customers were found to be far more likely to remember and trust companies and their products using this form of advertising.
Targeting your customer is getting easier
With users becoming much smarter in their search results, companies can now personalize and tailor their messaging more directly to their customers. From a bottom-line point of view, “74% of users who watched an explainer video to learn more about a product subsequently bought it.”
Businesses can now speak directly to their audience in the form of telling stories, giving tutorials, using customer testimonials and showing striking images that grab viewers’ attention.
Most importantly, video content marketing today can be much less expensive than previous forms of advertising.
Companies no longer need to hire expensive marketing teams and production crews to film a commercial. They don’t need to pay for costly prime-time television commercial slots. It can be as easy as pointing a camera phone at an employee or customer and investing in a user-friendly video editing software app.
A few ways to more effectively launch your content marketing strategy:
Data Data Data
Collecting data and evaluating your content’s performance is vital. You cannot treat each video as a singular campaign. Because of the ease and low-cost in video content marketing, a company can consistently reshape and fine-tune their platform, direction, message, and audience.
The more data you receive about how your videos are performing the more insight you have for the next video. This is when sales begin to skyrocket because you can really personalize your message to your audience.
If you’re interested in seeing an example of exactly how this strategy was recently implemented by General Motors, please check out this Forbes Article.
Multiple Platform Release
It is essential to put your videos on multiple platforms and social media sites. The easier it is for a user to find your video, the more shares, likes, comments, click-throughs and ultimate views it will receive. If the video begins to reach enough popularity it will start to get picked up in Bing and Google search results. As discussed earlier, more platforms and viewers also creates more substantive data for next time or the future.
Mobile-Friendly or Bust
If your video is not mobile-friendly don’t bother with video marketing. Your videos must work on all devices especially mobile phones. 51% of all digital media was consumed on mobile devices in 2016. That is up over 200% from 2014 and the numbers should only increase in coming years considering 48% of millennials only consume videos on their phones.
Viewer Action Campaigns
Creating videos that drive consumers to participate in your online marketing campaign can be seriously effective for a company’s bottom-line.
Think about how the Ice Bucket Challenge videos spread rapidly by challenging three other people online to either donate to ALS or post ice water being dumped on their head.
Coca-Cola launched their new personalized named cans by encouraging people to take a photo with a can that used their name and post it online. Their sales increased by 2%.
Dominos recently started a promotion that gives customers reward points if they posted and tagged a picture of their freshly delivered pizza arriving at their homes.
Video Content Marketing has become the norm, so if your business has not yet formulated a strategy then you better catch up quick or prepare to close up shop.