Disclaimer: this is a long, text-based blog post about the advantages of using video instead of long, text-based written content. And to make matters worse, there are loads of statistics.
But bear with me - it’s actually pretty amazing.
So, the whole “video is like pizza - even if it’s bad, it’s still pretty good”, what does it actually mean for digital marketing? Businesses all around the world are beginning to see the benefits of video marketing...in fact, according to Wyzowl statistics, 61% of businesses have already started turning to video. In a world where the majority of people don’t want to spend time reading and don’t like to be bombarded with advertising, video offers a digestible (excuse the pun) solution.
To prove the point, here are some of the many statistics by Forbes:
- Adding a video to marketing emails can boost click-through rates by 200-300%.
- Embedding videos in landing pages can increase conversion rates by 80%.
- 90% of customers report that product videos help them make purchasing decisions.
- 64% of customers are more likely to buy a product online after watching a video about it.
- 59% of company decision makers would rather watch a video than read an article or blog post.
There’s all the numbers, but now, let’s delve into it a little deeper…
Conversions & Sales
There’s a lot of money in video. The simple fact is that video is proven to boost engagement levels on your website and instantly increases your chances of conversion. With more than 65% of users viewing at least ¾ of a video, companies are guaranteed to have better visibility than if they allow their potential customers to quickly scroll past endless text or static imagery.
If you’re still wondering what video can do for you, the numbers show that having a video on your landing page can increase conversions by 80%. There’s no need to leave it to the odds anymore.
Return on Investment
The one disadvantage of video: it’s expensive. Still, 52% of marketing professionals worldwide name video as the type of content with the best return on investment (ROI). Albeit contradictory, users still prefer to consume this type of content and so consume ridiculous amounts of it - even if you might have won them over with the first video, they want to carry on watching!
Luckily, this con is easily combated with cheaper solutions to create video, accessible to us all. You probably have one of these solutions in your pocket right now. Smartphones offer high resolution video quality and anyone can use them. Users are concerned about the quality of the content showcased over the quality of the video, which means companies can create video with any device they see fit. The cheaper the solution, the better the ROI.
Trust & Awareness
Provide useful, well-delivered information and you will secure your customers’ loyalty. They will trust you because the information you provide is true and doesn’t sell anything your product can’t deliver. Videos reach audiences faster and cover more content in a shorter period of time. As we are always busy, it helps filter our options when we’re deciding which product to buy or invest in.
And most of all, video will be consumed by mobile users. In 2016, YouTube was already reporting an increase in video consumption by 100% each year. In reality, most of us don’t really use desktops for anything other than work nowadays. Why wait for your laptop to turn on when you can access all the information you want in a matter of seconds, from your smart device?
Wait...what did I even go onto Facebook for? It certainly wasn’t to scroll through a newsfeed of posts from old high school friends…
Oh, so your attention span is as bad as mine, ey? No problem: video is the solution.
Most people agree that video is the easiest way of consuming content; they’ll watch most of the video and, if it’s good enough, they’ll share it with their friends. Heck, they might even save it for later - and everyone knows that users are the foundation for brand awareness.
Contrary to regular written content, video can be tracked to show which parts users are watching the most, which parts they skipped entirely, how long they are watching it on average, amongst many other possible analytics. This gives companies an extensive insight into their consumers’ behaviour and can ultimately result in the competitive edge they need.
Engagement levels are particularly evident when you go deeper into these numbers. You will be able to accurately measure how engaged users were with the video you produced to replace the exact same written content.
Many social channels have already realised the potential of video as well. Facebook itself has created a whole video strategy to cater for its users’ needs, including every news channel favourite feature - the Live Video. Currently, video sits in the top 3 social tactics used by marketers to get their content out there.
Nevertheless, to be successful in the ruthless world of social media, videos have to be fun and entertaining. This is the key to getting people to share them and creating the momentum you need. Remember - people share emotions, not facts.
Here’s some more numbers - using the word video in email subject lines can boost your open rates by 19%, click-through rate by 300% and can reduce unsubscribes by 26%. Impressed yet? You should be. 96% of B2B organisations are, and they’re already using it in their email marketing strategies.
All the above should be enough to put forth a case to your employers or start practising the benefits of video. Like anything in marketing, it takes time and persistence to come up with a strategy that is perfect for you, but as we’ve established with the numbers, video provides unparalleled benefits that other content simple cannot provide.
The truth is, even bad videos have a tendency to still perform in gathering vanity metrics, so there really is no harm in experimenting. It’s like trying a new pizza place, sure, it might not be as good as the one down the road, but you’ve tried it and still got a semi-decent meal, and next time - you know what to do!
Have you experimented with video in your organisation yet? Do you have any questions or queries about video content? Give us a Tweet @FastWebMedia and we’ll chat!