Over the past few years, video marketing has taken the internet by storm. It has completely transformed the businesses’ marketing strategy, who, are now competing with each other in the digital realm, with videos as their primary weapons of choice.
According to the 2018 statistics of video marketing, 81% of the businesses now use video marketing as an effective tool of their marketing strategy. The percentage of businesses using video marketing as a tool has risen sharply from 63% in 2017 to 81% in 2018. The stats also suggest that 82% of the businesses plan to spend more in future on video marketing than they used to.
Also, the glut of data on the internet has made people very hasty and selective in what “content” they react to and “how” they react. You can easily relate to the fact that at times you find yourself aimlessly scrolling down your social media page, skipping most of the written content and stopping by to devour the video content only if you find it interesting enough. We do this because videos save us time and gives out more information in the little time that we have.
Accordingly, Forrester Research stated in a report that “A minute of video is worth 1.8 million words”. And that is why most of the businesses are revising their marketing strategies to be more video-centric now.
We will be sharing with you a few statistics from around the world that will help you understand the importance of video marketing and how it will help you in growing your business and achieving your goals.
- A “Lot” of People Love to Watch Videos
What can a video do that an image or text based ad cannot?
Videos deliver your desired message to the audience more simply, quickly and easily. That is why most of the people online resort to watching a video rather than reading through the text. And that is why video content viewership has sky-rocketed over the past few years.
According to the Cisco’s Visual Networking Index, internet video traffic has reached to 80% of all consumers and is expected to increase to up to 82% of total consumer internet traffic by 2022. It means that 82% of the people who will be using the internet by 2022 will be using it for watching video content!
And as per the figures of 2018, the average person consumes around an hour and a half per day of video content. If you don’t believe these figures then you can do a little experiment. Install an app that will keep a record of your app usage activity and provide a breakdown of the time spent on different apps. When I tried it, I got a whopping 60% of my online time being spent watching either YouTube or Facebook videos.
My own experiment was backed up by a study carried out by Social Bakers
- Video Marketing Reaches Out Far: Even to the Laziest
According to Social Bakers, Facebook videos on average had 135% more organic reach than a Facebook photo. This explains that why businesses are rushing towards video marketing campaigns on Facebook.
The technological advancements have eased things up for the people and have killed the desire to actively research content on the internet. It is commonly observed that people act very lazy especially when it comes to reading something.
You can relate to it easily by putting yourself in the position of a customer. What would you prefer? Reading a 500 to 1000 words article on a product or just clicking the play button and get everything you need to know by the help of a 2 minutes video? Of course, you will watch the video instead of taking on the laborious task of reading through the “complete” five hundred million thousand words, well, that is how it appears to the people who do not want to read “anything” now!
According to a recent study, it was found that 72% of the people would prefer to watch a video as compared to text on the same page. And I guess a lot of people using the internet today, including myself make up that 72% who are more interested in watching a video than reading.
According to another study, the Sponsored video content viewership has jumped by 258% since 2016. This means that there are almost 3 times more people watching the sponsored content on social media platforms as compared to 2016. This is a huge increase in number which creates a large number of people who can be reached using social media video marketing techniques.
With so many people just streaming through the videos on the internet on a daily basis, it is impossible for a business to grow and prosper to its full extent without tapping the huge potential market available online.
- Videos Say More in Less Time
Another lasting impact that videos leave on the audience is the ease with which a video can explain what a thousand words can’t. Businesses often struggle at making an impact on their customers when it comes to marketing a product that is new and a bit complex to use.
In such times, explainer videos can prove to be of great help in reaching out to all types of the audience out there.
Explainer videos are simple videos, infographics or animated videos that help explain the purpose of the product/service to the layman. Explainer videos can explain in a simple manner, what words cannot.
As per the statistics shared by wyzowl, 98% of the consumers say they had watched the explainer video that created an interest in them to look further into the product/service. The same report further states that 46% of all the businesses that use video marketing strategy have an explainer video on their landing page. Most of them believe that the explainer video has had a great impact on their sales.
In the cluttered space of the internet, well-made infographics or animated video can make its way to the top.
- Video Marketing Helps Your Business Through Social Shares
A benefit of video marketing that truly distinguishes it from other methods is the power of social sharing. Whenever a video, which is creative and effectively communicates its message to the audience at large, is naturally helped on its way up by the multiple shares it receives on the social media platforms.
And people also prefer sharing an informative video rather than sharing a text ad.
Simply, in order to understand, how often is it that you come across a person sharing an article that is aimed at marketing a product? Very rarely!
On the other hand, we bet your friends share a plethora of videos on all social media platforms with you, a lot of them with infographics or animations marketing a product.
Social Media marketing of your business via videos is the best aspect of video marketing. You have to do absolutely nothing in spreading the word, other than making an informative and engaging video of the product/service.
Hence, video marketing on social media gives your product/service a free advertisement run that gets shared from account to account, person to person, without you spending a dime on sharing. Video marketing helps you out in achieving your goals without having to spend as much as it would take for other means of publicity.
According to a study, videos generate 1200% more shares than their text/images counterparts. This goes to show what a stark difference video marketing can have on your business.
- Video Marketing Helps you Rank Higher on Search Engines Return Pages
Benjamin Wayne, the CEO of Fliqz shares a few important tips for all those intending to use the video marketing strategies. Wayne states that Google search and indexing algorithms now return results including videos and images. This means that the search engine search results are now presented in a blended form, including videos, images and websites relevant to the search. And most of the people to save time opt for the video option.
Also, according to a study by the Forrester Research, it was found that it is 53 times more likely that videos receive the first-page ranking as compared to a traditional link. As an example, we put up a random search word “building a 747” and the results returned by Google can be seen below.
The results returned are “blended” results, i.e. including videos and webpages.
Also, since Google has now acquired YouTube, it can be said that you will always be at an advantage of appearing higher in the search results if you have your marketing video uploaded to YouTube. This is known as video SEO.
As every business wishes to rank higher on the Search Engine Return Page list, it is important for businesses to optimize their websites with video SEO.
Video search engine optimization or Video SEO is done by placing the important keywords of your product/service in the title, tags or description of the video. Also if you are using infographics then the text of the infographics should be optimized as it is also “readable” to the search engine applications and can help you rank higher in the SERP list.
- Videos help Establish Trust with Your Audience
For any business to succeed, it is extremely important that a relationship of trust exists between the business and the client. And video marketing is the best way to create a level of trust and understanding with your clients.
The biggest fear that customers face while purchasing online is the fear of fraud, the fear of not getting what they are being promised. Videos help create a sense of trust in the customers and help them overcome the fear of purchasing your product/service.
As videos give a personal touch to the marketing strategy, plus people tend to believe what they see more than what they read. So it becomes easier for them to make up their mind and go for the product/service.
A lot of lazy people, who would not even bother to read even a few lines of advertising text, are much more enthusiastic about watching a video of the same product/service. That is where video marketing truly displays its captivating power. It can not only reach out to the distant corners of the planet but also appeal to the laziest people on the planet.
- Video Marketing Will Help You Increase Sales
And most importantly, video marketing will increase your sales like no other technique can ever. According to a study, 97% of the businesses have said that marketing videos have helped increase the understanding of their products for their users. Whereas an overwhelming 76% of the businesses claimed that video marketing has helped them increase sales.
Furthermore, aftersales customer queries have also sharply declined because of explainer videos explaining the way to use the product. This also helps increase customer satisfaction with your product/service. As they feel more comfortable in purchasing a product that has an explainer video available to help them out later.
If you have good video marketing content on your landing page, people who visit your website, will stay there for a longer time. Well, that is what 80% of the marketers claimed! And it is also understandable that people avoid reading lengthy descriptions and product/service manuals. Instead, they will spend more time on your website if they can find an interesting video that can explain everything about the product without the consumer having to make an effort.
Amazingly, 81% of the consumers claimed that the explainer videos on the webpage have helped them make a decision into buying the product. While 69% were convinced to purchase Software after watching a video.
As such video marketing is not a tool for the future; it is something that you must have now. And if any business has the ambition to reach out to the maximum number of people, grow and expand, then there is no way other than by online video marketing.
In the end, we leave the decision to you, that after knowing the benefits of video marketing, whether you want to devise an effective video marketing strategy for your business or still go along the classical means of marketing?