Today, video is one of the most preferred forms of online content. It can be inferred from the fact that there are over 1.9 billion users on YouTube, which represents one-third of global internet users. This makes video marketing the most effective mediums to get your marketing message across. Any business with an online presence must leverage the power of video marketing to spread brand awareness, drive traffic, generate leads, and conversions.
Recent studies have shown that adding videos to product pages helps increase purchase by a staggering 144%. Besides, the same study articulates that the most engaged demographic for video is the age-group between 18-34, which represents a critical customer segment. This write-up seeks to address readers who are keen to understand the benefits of video marketing for a business.
Benefits of Video Marketing for Business
Now that we have an idea about video marketing let’s straight away understand the benefits of video marketing for a business.
- Audience Preference
Today, the audience prefers video over newsletters, social media, blog posts, and downloadable content. When it comes to making a purchase decision, users are seen to conduct research online through various methods such as using search engines, visiting the company’s website, and reading testimonials. Video can be incorporated in all these places to enhance the customer’s impact to influence their purchase decision by a significant margin. This kind of impact was unheard of with other forms of content consumed online.
- Rank High on Search
Video is known to improve rankings on search engine result pages (SERP). One of the factors considered by search engine algorithms is the amount of time spent by users’ on a website, also known as ‘dwell time.’ Including videos on the website is an effective tactic in improving dwell time. Research suggests that an average internet user spends 88% more time on a website containing a video.
Search engines for ranking websites higher on search results would consider this improved’ dwell time.’ In addition, a significant number of search terms are known to return videos as search results, which makes the video even more important for ranking on search.
- Aids Branding and Creates Trust
Video can be instrumental in creating a personal and engaging connection with the audience, and it is seen making this connection better than ad copy. Both copy and video must be used simultaneously to create a brand image that is trustworthy, knowledgeable, and human. When a company that offers content in the most down-to-earth manner, it increases the level of trust with the customer.
Another way to improve trust is by creating videos about employees and behind-the-scenes activities – which is likely to present the company in a humane way to the audience. At the end of the day, every marketer must remember it is more about informing the audience with less emphasis on selling – the crux of inbound marketing.
- In Tune with the Times
Customers will always favor companies that are in tune with the times and the latest trends. By practicing inbound video marketing, you directly signify your brand to be up-to-date with the latest marketing medium. Besides, today the audience does not expect videos to be done in informal settings. Video content can be short on a Smartphone and still has the potential to go viral.
With the evolution of video formats on different platforms gives brands access to various formats to present themselves. This can include live video, ‘stories’ on Instagram and Facebook, video filters, and more. Each of these formats allows the brand to experiment with messaging and choose the best which their audience prefers. It is all about remaining relevant to an audience that expects novelty in brand messaging.
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- Chances of Purchase Improves
People watch videos on YouTube to get entertained and remain informed. Out of this, there are a majority of users who use videos to make a purchase decision. Most of them are inclined to video reviews because they give insights into product usage, and they tend to be more believable and honest than an advert.
One of the most viable ways to promote a product is embedding product-based videos into individual product pages. A majority of users have concurred that product demos have an impact on their product choices. Another way of influence the audience is by collaborating with an influencer for video product reviews. Influencer marketing is known to bring good ROI and helps the brand reach a wider audience.
- Generates Good ROI
Research suggests that a good majority of businesses agree that video marketing provides a good return on investment. Although video production is neither easy nor cheap, it does pay off in the long run. With the rapid improvement in online video editing tools, it is going to become more affordable going into the future. This apart, the audience does not expect perfection in a video; rather, the content of the video has to be spot on. More often, viewers are put off by video content that does not explain the product or service clearly. Hence brands are supposed to focus more on the content and less on the production values.
- More Appeal Among Mobile Users
Video consumption on mobile is growing by triple percentage points. In fact, YouTube reports that mobile video consumption is rising 100% every year. With technological improvements and access to affordable phones, this trend is unlikely to slow down anytime soon.
75% of all video plays are on mobile devices. This makes mobile video marketing an effective strategy to captivate mobile users. In reality, mobile users are known to connect better with video ads compared to television and desktop. A brand with the most cohesive mobile video strategy in place is likely to gain on its competitors.
When it comes to the benefits of video marketing, we have just touched upon the major ones. With the improvement in streaming technologies, online video is evolving – giving users more freedom with creative expression. One such development is the dynamic Invitation Maker, like- Canva, Greetings island, etc., which allows brands to create customized invitations for a big event or launch. You can find out more on the internet.
Such developments will be the norm in the coming times, and ambitious brands will leverage them to their advantage. Such brands will remain at the forefront of innovation and are likely to impress the audience.