Video marketing is all the rage these days. And with good reason, people like to watch video. Yet, many marketers are not sure if it is right for them. The idea of creating video can seem daunting. While creating a good video is more expensive than writing a blog it does not have to be as expensive as a national Television commercial. But the ROI of video is so strong it should convince anyone involved with advertising to jump in.
People like to watch video. Most of us have noticed the increase in the number of videos on the internet. Social media has more video in the feeds and advertising every month. Videos are used to explain products and services as well as sell. According to one stat 85% of the US internet audience watches video. In fact, one third of all internet activity is watching video.
Kinds Of Video
Video comes in many forms and can be used for many purposes. One of the most common types is the explainer video. The explainer highlights a product, service or business idea in an easy-to-follow format. Product demo videos help the viewer understand how something works. And sales videos can come in many formats from commercials to testimonials and case studies. Knowing where your video will be used (website, social media, advertising etc.) will help dictate how you make the video.
Marketers can create video in a variety of ways. With the explosion of software programs many people are producing video on their own. HD cameras are inexpensive and lighting etc. is easily bought online. Others are using interns or volunteers who study video production or filmmaking. Students often need the experience in order to graduate. They usually have more video knowledge than the typical businessperson. The highest quality product will come from a video professional. They have the experience and equipment few marketers have. Video professionals will best guide you in what kind of video to make and do all of the film and production work. You will pay a bit more but greatly increase your chance of success.
Although video can be a very successful marketing tool it only works if executed well and delivered correctly. Your goals must be established at the beginning. Identify the company values or branding objectives and then integrate them in the script. Keep the message tight, and have the story move briskly. People will not sit for long if they are not engaged. Don’t be afraid to spend some money. (see: hire a professional) And deliver the video to your target audience.
The ROI of Video
For businesses still not convinced that video is a smart marketing investment there is plenty of research on the subject. Leading market sources like Cisco, eMarketer, Forbes, Wistia, Wyzowl and more, have statistically proven that video is here to stay and gives marketers an advantage over other forms of content. For example,
- 81% of marketers say promotional video has helped them generate leads
- 73% of B2B marketers say video has positively impacted their ROI
- 65% of executives have gone to the marketer’s site and 39% have called them on the phone after watching a marketing video
- 75% of all video plays are on mobile devices
- On average, people spend 2.6x more time on pages with video than without
One statistic we encountered suggested that 51% of marketers worldwide said video had the highest ROI or all marketing tactics they used. While that is just more than half there are dozens of tactics available for marketers. To garner over half is actually quite a feat.
No marketing tactic is a magic bullet, generating nothing but success. And video is no different. Like all marketing tools video should be part of a well-thought-out strategy. The goal needs to be clearly defined and all tactics aligned towards that goal. Your target audience must be identified, and communications structured to resonate with them. And once marketing starts you need to measure and optimize. But if you follow sound marketing principles and create quality messaging the ROI of video will quickly become evident.