Video marketing is on the rise as a means of increasing conversions and bolstering sales for businesses across the globe. According to the Cisco Visual Networking Index, IP video traffic will account for 82% of all consumer internet traffic by 2021 with internet video traffic projected to grow fourfold between 2016 and 2021. Given these projections, you can hardly afford not to devote more resources to video marketing. Below are the top reasons why video marketing is crucial to your content strategy in 2019.
1) Consumers like video
Video's popularity among consumers is a key reason why more businesses than ever are turning to video marketing to promote their brand and products. The Digital Marketing Institute, outlines multiple reasons why video marketing is so well received among consumers. They include the following:
- Video is Accessible: Virtually anyone with internet access can access video through a laptop or mobile device
- Video is Entertaining: Video is a more engaging form of marketing than written advertising
- Video is Versatile: Videos are easy for consumers to share using multiple platforms
- Video offers Simplicity: Video makes it easy for consumers to digest complex material or concepts
2) Video marketing will boost your sales
"According to Transcribefiles.net, including a product video on the landing page of your website can increase the conversion rate by 80 percent...Videos can also result in a direct increase in business sales. Recent research reveals that over 74 percent of viewers who watch explainer video of a particular product end up buying the item."
- Mashum Mollah, Social Media Magazine
Video marketing has the power to jump start sluggish sales. A simple video can be a difference maker for a customer who is on the fence about a product or who is vacillating between your product and a competitor's. Quicksprout outlines a number of ways that marketing videos are used to bolster sales:
- Establish a YouTube channel to promote your brand
- Include videos on your website and social media pages
- Engage customers by inviting them to create their own videos
- Feature videos in your customer email campaigns
3) You can easily gauge the effectiveness of video marketing
One of the key advantages of video marketing is the ease with which you can measure its effectiveness. Establishing key performance indicators (KPIs) is simple and companies can set up their own tracking methodology. The Digital Marketing Institute outlines a few ways that you can monitor the effectiveness of video marketing:
- The total length of time viewers spend watching a video
- The frequency with which videos are played
- The total number of times viewers have watched a video
- The amount of leads that have been generated as a result of a video
- The number of times a video has been shared on social media
4) Video marketing will position your company as an industry expert
"Video is an effective platform for answering industry FAQs. Think about questions your customers commonly pose to you or that they might be too embarrassed to ask. For instance, a restaurant might upload a video on tipping etiquette. A jewelry designer might share a tutorial on how to change a watch battery. A flooring contractor might explain how to measure a room's square footage. These how-to videos don't need to be overt sales pitches, but instead seek to position your company as an approachable, knowledgeable and helpful resource."
- Kim Kohatsu, Founder and Chief Creative Officer of Charles Ave Marketing
Current and prospective customers enjoy working with organizations that are helpful, approachable, and up to date on the latest cutting-edge industry trends. Video marketing will help your business establish itself as a knowledgeable industry leader with an interest in helping consumers. Through its dedication to helping customers, your company will gain industry traction and earn a more positive reputation.
5) Video marketing is a great way to launch your latest product
"Why just tell people about your products when you can actually show them? Product videos done right can be a fantastic tool to help your target audience understand your product and the philosophy that sets your company apart. You can use your product video to engage your customers in every step of the launch."
- Torrey Tayenaka, Co-Founder and Chief Creative Officer at Sparkhouse
Today's products are increasingly sophisticated and not always simple to market, master, or assemble. With the help of online videos, your company can facilitate your next product launch. You can begin by using video to generate enthusiasm in advance of your official launch date. Then, after your official launch, you can use video marketing to create interactive installation or assembly guides. Finally, you can use video testimonials to showcase positive experiences customers have with your new product.
6) You will enjoy a healthy return on your investment
"83% of businesses say that video provides good return on investment. Even though video production is not yet the easiest nor cheapest task, it pays off big time. Besides, online video editing tools are constantly improving and becoming more affordable. And even your smartphone can make pretty decent videos already."
- Priit Kallas, DreamGrow
Video marketing will continue to grow in popularity as cost-conscious business owners discover how affordable video marketing is. With ongoing improvements in technology and online editing tools, videos are easier than ever to introduce and edit if necessary. With over 80% of businesses reporting a positive ROI, video marketing is expected to continue to gain popularity.
What is the best way to introduce video marketing to your business?
As outlined above, there are many reasons why your business should introduce video marketing to your company's marketing initiatives. However, you can maximize the impact of your video marketing efforts by seeking the guidance of an expert in the inbound marketing industry. For years, the creative team of professionals with Ascend Inbound Marketing has worked with sales teams to help them exceed their goals and delight their customers with professional video marketing. We invite you to contact the Ascend Inbound Marketing team for a complimentary assessment. We look forward to helping you optimize your marketing initiatives!