According to the Cisco Visual Network Index (VNI) Complete Forecast, video will represent 80% of all internet traffic by 2021, there will be nearly 1.9 billion internet users (up from 1.4 billion in 2016) and these users will be watching 3 trillion minutes of video per month.
Video is dominating the way we consume information and if used correctly, video can be an extremely effective tool for marketing your business. However, the sheer volume of video in circulation means there is a lot ‘noise’ to compete with. It can be overwhelming as a business owner and marketer particularly when you are investing time and money on this marketing resource. Understanding the benefits of video for marketing will help you to fully understand how you can use video effectively to market your own business.
Here are 5 reasons to use video for marketing your business:
1. Customers love video
Video has been an unstoppable marketing resource in recent years and one that shows no sign of slowing down. The Cisco statistics predict that the way that we navigate the Internet is changing; it has moved from a static platform comprising mostly of text and has morphed into one that incorporates text, images and video content.
However, how does an Internet filled with video impact businesses selling products and services and customers making purchases? Customers value video content. They utilise it to help understand more about your brand and your product/service. Research from Wyzowl states that 79% of consumers prefer to watch videos to reading about a product and 91% of consumers have watched a video to learn more about a product or service. Also, according to research from Google, 50% of customers watched a video before visiting a store.
Video is not only a marketing tool for your product but also an educational tool, empowering the consumer to make a valuable purchasing decision.
2. Search Engine Optimisation (SEO)
Quality content is the most important factor that Google utilises to rank a website.
When video is included on one of your webpages amongst other types of media, you are sending a signal to Google that your site contains quality content that is interesting and relevant for a user. Although Google does not publicise the exact algorithm used for ranking websites, SEO experts do expect that video’s ranking factor will increase as consumers expect more video content in their search results. Video ranked as quality content by Google coupled with the fact that YouTube is owned by Google means that video can have a significant impact on improving your appearance on Google search (or your Search Engine Results Pages, SERP).
Bonus tip: hosting your videos on YouTube could be beneficial if you read into the fact that Google owns YouTube.
Videos are not only ranked favourably by Google but also by users too. Wistia looked at the top 100 most highly trafficked web pages from 2016 and found that people spend 2.6x more time on pages with video than pages without. A user who spends more time on a webpage indicates to Google that your website is useful and helpful to the user and it communicates clearly and in a timely manner. Therefore, an increase in time spent on a webpage improves your SERP.
3. Emotional connection and trust in your brand
The 2016 Harris Reputation Quotient asked 23,000 consumers to rate reputation of 100 top companies. Consumers were also asked what factors had the greatest impact on the reputation and the following top four issues were highlighted: lying or misrepresenting the facts about a product or service, intentional wrongdoing or illegal actions, security and data breaches that expose personal information and product recall/food contamination. As highlighted by this study, trust is a key factor for consumers and it is the one element that factors into nearly every purchasing decision for a customer.
57% of consumers say that video gives them more confidence to make purchases online. Video marketing isn’t solely about selling products; it is also about fostering trust. A thoughtfully crafted video with high quality production speaks volumes to viewers about the standards your company values and the quality of your products/services. Video allows you to tell the story of your company, fostering a greater sense of connection with the viewer as well as exposing consumers to your branding, putting a face to the brand name and demonstrating your company’s passion, expertise and knowledge. Video can allow you to connect with a prospective customer in a way that holds the value of a face-to-face interaction but by utilising an online platform.
4. Return on investment
It can be daunting to commit to investing your time and money into video production; however, video is an effective marketing tool for your brand, product and services. The fact that 84% of consumers have been convinced to make a purchase after watching a brand’s video coupled with the fact that studies show that adding a product video to landing pages increases conversion by 80% is a compelling argument as to why you should be using video to market your products/services. Video can be a cost effective tool to invest in the acquisition of new customers as well as the re-engagement of previous customers. Businesses seem to agree too with 83% of businesses saying that video provides good return on investment.
5. More effective marketing through social media
Video is the gold standard of content for social media and when social media is used effectively, you can access new audiences for your business. Video will give you better engagement rates on your social media channels, trumping all other styles of content to captivate and engage audiences. There are endless statistics detailing the rise of video on social media including a 99% increase in views of branded video content on YouTube and a 258% increase on Facebook. On Twitter, a video Tweet is 6x more likely to be retweeted than a photo tweet.
By using video on social media, you can engage with your audiences more effectively and because engagement rates of video are higher, you create a more lasting and meaningful impression on your viewer. When a viewer engages and/or shares your company’s video, they are showing their approval to their wider network of friends and family and thus increasing the potential of word of mouth marketing of your products/services. Video is a powerful tool for standing out from the crowd on social media and when used effectively it can increase brand awareness, increase traffic to your website and increase engagement with your audience including both prospective customers and existing customers.
If you'd like to discuss your video requirements, or how our video production services can work alongside your current marketing strategy drop us a message