Powerful Reasons You Need to Use Video Marketing [TRENDS]
“Marketing is no longer about the stuff that you make, it is about the story that you tell”- Seth Godin
Undoubtedly, marketing has come a long way from endorsing just the features of the products through jingles and one-liners. Now it is more about creating engaging marketing strategies that revolve around the power of brand storytelling.
In a world where brands are at loggerheads to capture attention, the combination of storytelling and video marketing is gaining popularity like never before.
In fact, in a survey by Wyzowl, it was found that 87% of the businesses are already using video marketing to make their brands visible in the online world and garner maximum customers.
Video marketing is not just about sales videos, it is how you curate video content that clicks with your audience and makes them want to try out your product or services.
If you are revisiting your good marketing strategies or have just launched a new product, you must consider adding video marketing to your promotional toolbox.
This article lists out some of the prominent reasons why video marketing is the most versatile and profitable digital marketing tool you have today.
But before that, let’s discuss the basics-
What Is Video Marketing?
Video Marketing is a digital marketing strategy that focuses on curating and publishing video content on various portals, online and offline, to promote a brand, service, or product. It is not limited to sales but is also a great medium to engage with customers and create a strong brand voice.
On the surface, it might look pretty straightforward- but in reality, developing a video strategy involves:
Allocation of resources
To build a quality video, you need resources like editing software, equipment, and a skillful team. You need to allocate the budget and time required to complete the tasks.
As already mentioned, people want to experience stories that move them and generate curiosity in knowing your brand. So, get your team together and start brainstorming ideas that will engage more people.
So now you got your eureka moment- a perfect idea to sell your story. Now the real deal- How will you make encapsulating stories so your audience will relate to them?
Your videos must be as concise as possible. Be brutal in your editing process. Make sure you cut out everything that seems extraneous. Your focus must be to get your audience glued to your video from start to end.
Publish your content
Once you create and edit your videos, start publishing them. You can embed them into your website, upload them to Youtube, or share them in social media portals. Promote your content shamelessly ( but don’t be spammy).
Understand the Performance metrics
Always keep a watch on how your videos are performing and how audiences are accepting them. Track the performance metrics and use them to make your video strategy better.
Video marketing, when done right, can boost your company’s growth beyond your expectations.
For instance, Bulb consistently published videos that were a combination of subtle advertisements and educational “how-to” videos. Their video marketing strategy made the UK’s fastest-growing energy supplier within five years of its conception.
Top 5 Reasons to use Video Marketing
1. You want to boost your sales and conversion rates
Let’s be honest here- you cannot create an impact on your audience with written content alone. You need something as interactive and engaging as videos to get your audience hooked to your brand.
Videos are the best way to make your landing pages interesting and have the potential to increase conversions by 80%. Intriguing videos are also an amazing way to drive more sales.
Do you know, about 74% of the users who watched a video were more likely to buy the product or service? Yes, this is the power of videos in generating more sales and hence profit.
2. You want a high ROI
Well, which business does not want a high ROI? Even when creating and publishing videos come with their set of challenges like coming up with ideas and the costs involved in producing one, it still comes across as a profitable marketing investment.
Around 83% of businesses admit that video marketing got them a good return on investment. With video equipment like cameras and software becoming affordable by the day, the ROI is sure to escalate in the coming years.
Now you can even use your high-end smartphone to create videos provided you have basic video production skills. In the end, it all boils down to the content of the video.
A high-budget video with a weak storyline may sometimes fail to garner traction, while a poorly produced video with quality content garners maximum engagement.
3. You want to create a trustworthy Brand image
Even when everyone is embracing online business marketing, customers are skeptical about buying products and services online, due to numerous cases of fraud and cheating. Therefore, it is inevitable that you put in efforts to create a reliable image among your customers.
The importance of testimonials and social proof in influencing purchase decisions cannot be overlooked. These are key factors in developing trust and credibility around your brand.
Creating testimonials and case study videos gives your brand a trustworthy image among the customers. In a survey, 57% of consumers felt that videos gave them confidence about purchasing products online.
You can include conversational consumer testimonial videos on your website or youtube, or best social media channels. Similarly, Slack included customer stories and made their video marketing strategy work like a charm.
4. You want high brand visibility online
Videos are your SEO goldmine, as Google loves videos! Google pushes video content, as around 70% of the top 100 Google search result listings have video content. It implies you can enjoy organic traffic, as your website is now more discoverable.
Another way to use video marketing to improve SEO is to include backlinks in the video description. So even if you choose to upload your video on a third-party website, the audience can easily access your services through these links.
5. You are craving high conversion rates
Well, who doesn’t? And this is why you must consider putting your brain cells at work to come up with video marketing ideas.
Videos are the best way to communicate your ideas to your customers. It could be through storytelling, or educational- how-to/demo videos, or simply a promotional one.
In any case, even a descriptive written copy cannot match the effectiveness of a well-executed video that showcases the product features. It is why 97% of marketers agree that videos help customers understand the services better than any other content form.
The more customers are intrigued by your videos the more will be conversion rates. Therefore, if you are struggling with poor conversion rates, it is high time you start investing your time and efforts in chalking out video marketing strategies.
These were the reasons why you must consider video marketing. Now we shall walk you through some of the video trends of 2021 that you can use to strategize your video campaign.
Top 5 Video trends to Watch in 2021
1. Rise of live stream videos
Live streaming apps are now witnessing popularity among audiences. An average US customer is likely to have around 9.5 video streaming apps in 2021.
The global streaming market is also expecting a boom in the coming years. The market already witnessed a whopping 55% growth in 2020, from being a $10.11 billion market in 2019 to $161.37 billion worth in 2020.
2. More demand for Short-from video
The attention span of users has decreased drastically, thanks to apps like Tik-Tok that promote addictive content of a mere 15 seconds. It has spurred a trend for short-form videos.
Tik-Tok and Instagram reels can be the best place to use short-form video marketing. You must focus more on concise scripts and brutal editing that offers more to the audience with less yet quality content.
3. More demand for educational videos
The year 2020 has indeed seen an explosion in the number of online shoppers. It also has opened doors for a highly competitive online sales market.
Online shoppers have so many options to choose from various online services portals. Around 85% of internet shoppers look for product-detailed videos and are likely to buy a product based on the same.
The rise of the e-learning market is also an example of why you should consider producing educational videos.
4. Increase in Video Advertising
Video advertising is an evergreen video marketing strategy. The video ad spend in the US hit an all-time high with $9.95 billion in 2020 and is expected to reach $11.24 billion by 2021. The survey estimates that the figure will continue to rise, to hit $12.66 billion by 2024.
Therefore, the competition for video ad space will grow exponentially, and only the best quality content will reach the target audience effectively.
5.Interactive AR videos
The augmented and virtual reality market is already annoying its share of popularity and will continue to do so, as per various reports that suggest a CAGR of a whopping 54% (2019-2024). The market is forecast to hit $72.38 in 2024.
The technology promises an immersive and interactive experience and using them in your videos makes it more relatable with your audience.
To Sum it All
Video Marketing is the present and future of digital marketing. When done right, it has the potential to give maximum ROI.
Videos that emotionally trigger the audience are the secret sauce to building an effective video marketing strategy. You also need to be aware of the latest trends and have a smart, creative approach towards publishing and marketing your videos.
In the end, it all boils down to creating videos that convert viewers to customers!
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