What’s your go to for entertainment? If it were 100 years ago, you’d probably be reading a book. If I had to guess for the present time, I’d bet you pick up your phone and start opening Facebook or YouTube. If you’re a true media savant, you may even be watching Netflix on the way to work.
Take note, video isn’t just a form of entertainment anymore. It has dramatically improved business among those who have taken advantage of it in the ads that pop up before a video starts, known as “bumper ads”. Check out these 5 reasons why not having video marketing incorporated into your digital marketing strategy will leave your business stagnant.
1. Online Videos Boost Sales and Conversions.
According to Renderfx, videos have some serious money making power. Adding a video to your emails increases CTR by 200-300%, while adding video to your landing pages can increase conversions by up to 80%.
When it comes to advertising a product, 90% of users have said watching a video about a product found it helpful in the decision process. Perhaps it’s time you start making videos on how your product can help your target audience, considering you’ll please 90% of the people watching it, which will likely have them choose your product over others.
Tip: When you use video, you have a 53 times higher likelihood of ranking on the first page of Google.
2. Executives Eat Online Videos Up
Let’s do some simple math here. Insivia shows that 65% of executives will visit a website and of those 39% will call the vendor if there was a video describing their product or service. On top of that, 50% will continue to look for more information on the same site, just based on having an informational video!
If the bounce rate on your site is high, who knows how many big clients you could be missing out on. You could start by having a video on the homepage of your site, and see how it benefits your business in as little as a month.
Tip: 59% of Executives would rather watch a video over reading a bunch of text. 66% of B2B organizations use video in some capacity in their marketing campaigns, of which 73% report positive results on their ROI.
3. Online Videos Build Trust and Relationships
Online videos are undoubtedly a key element to your business financially, but how does it build relationships? Have you ever sent a colleague or coworker a funny picture of a cat? Probably! How about tag a friend in a video you saw on Facebook? See where I’m going? If you find a way to make your video entertaining and educational, it’s likely people will start sharing that video to friends and family that may find your products or services useful.
You may even occasionally see a new product or service being advertised on Facebook, such as Stash Invest or Udacity. These companies use videos to advertise their products and services. Then they build relationships in the comments where questions are asked by users and answered by the brand representative.
Tip: Speaking of branding, Enjoyment of video ads increase purchase intent by 97% and brand association by 139%. So slap your brand name on the video, you won’t regret it!
4. Online Videos Can Convert The Laziest Buyers
Videos are great because they’re easy to digest, and typically take up little of your customer/client's time. Time is something valued by everyone, including your audience. You may put hours of effort into an email, landing page, informational blog posts and more, but a 1 to 2 minute video will still have other content beat because your audience can’t be bothered to read every last bit of information on your product. You need something truly engaging (cough cough-a short video!) to draw them in.
Tip: Be sure to target both the eyes and ears of your audience, a voice over and some music are critical components in videos now.
5. Online Video Ads Are Easily Accessible
Online video ads have 18x more user engagement in comparison to TV commercial ads. If your video ad is engaging and entertaining, users can go back and watch it again, thus generating more revenue for you. An astounding 80% of users can recall a video ad they’ve seen within the last month. How many times have you really had to think about what you did just yesterday? The power of a successful video marketing campaign basically drills images and information into the back of the user’s head. On top of that, according to Hubspot, 64% of users are more likely to buy a product online after watching a video.
Tip: Marketers who use video grow revenue 49% faster than non-video users.
Want To Reap The Benefits of Video?
Just a couple of minutes of simple product or service demonstrations may convince an individual to trust your brand, buy your products and even promote your company, all without having to leave the house. Want to find out how to make video marketing work for your business? For more information on video services, contact us at info@smilemultimedia.com.
