Using video in a marketing campaign is one of, if not, the most effective way of reaching millions of audiences today. Nearly three out of four businesses that use video for marketing benefit from better conversion rates while nearly two-thirds confirm it has led to direct sales.
With over 230 million online viewers in the U.S. in 2020 alone, investing in video marketing is a no-brainer to drive growth to your business. With online videos, you really have nothing to lose, since free video hosting services/platforms like YouTube will host them forever and they will continue to generate traffic for years to come. Not only that, over half of the viewers believe watching a video about a product made them more confident about their purchasing decisions.
If that’s not enough, here are more reasons why video marketing is king and why your business needs to incorporate it now.
1. Search engines love videos
Videos affect overall search engine ranking and most engines, including Google and Bing, suggest video links for almost every search query. So always include video embed/s on your posts or simply have a dedicated YouTube channel for your products or services. The chances of your website or videos ranking high on the search engine platform increase nearly 50 times if you have these at your disposal.
2. Videos offer a high return on your investment
The primary purpose of incorporating videos into your marketing strategy is to increase sales. In fact, nearly 90% of businesses believe video marketing boosted conversation about brands and gave them a higher ROI. Over nine in 10 businesses surveyed also said that they will increase their spending on video marketing in 2020, demonstrating their confidence in the return on investment potential video marketing has for their businesses. Engaging videos draw people to view them more than once, increasing brand recognition.
3. Videos lead to better engagement
Since more and more people are engaged in watching videos online, incorporating them into your marketing strategy can lead to higher engagement with new customers. This is crucial, especially if your business is launching a new product or service. Video marketing is all about using visual cues that help with customer engagement. Doing this should result in lead generation and higher traffic to your website. While video advertisements are common, giving your audience some benefit from viewing your videos, such as giveaways or product reviews, can open doors to new audiences.
To achieve higher engagement, you need to research your target audience well and find out how your product can serve their needs. Once you have this sorted, you can focus on the video content you would like to place for them. This could be an informative video listing out the benefits of your product or an advertisement that is memorable and could go viral — increasing brand recognition.
4. Product information is easier to explain with video than written content
There are tons of products and services launched every day. Using only written content to explain your product may not be the best in terms of marketing strategy. Let’s face it, the world of written content only works to a certain extent, is highly competitive and could sometimes be boring. According to a Forrester report, one video has the same impact as a whopping 1.8 million words of written text.
5. Videos are an integral part of the social media generation
Young working professionals make up the biggest chunk of viewers on YouTube. While 90% of people are aged between 18 and 29 said they regularly use YouTube, a close 87% of those between 30-49 also said they use the platform. These statistics show the massive pull YouTube has on the tech-savvy social media generation that also has the highest purchasing power among age groups. This is the audience that loves to share updates on Twitter, share photos of new products they bought on Instagram and write about their experiences of brands on Facebook or LinkedIn.
6. You can tap into more mobile users
With smartphones becoming commonplace and nearly 90% of people using a mobile device to access search engines in 2019, there is no doubt that these gadgets are emerging as the preferred choice for users to consume content. In fact, three out of four shoppers use a mobile device to buy products and 40% of monetary transactions are done online. Combine these figures with the fact that about 40% of all YouTube video views are from mobile devices, and you have enough reason to believe the enormous potential for engaging customers through mobile devices.