Five Reasons your Business Should be using Video Marketing

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In 2013 a US survey of digital marketers found that 93% use video for online marketing, up 81% from the previous year. 70% of these said their budgets for video were rising. Still not convinced; then take a look at Digital Sherpa’s round-up of key video statistics for 2014.

If you haven’t yet put in place a video marketing strategy, then you might want to take a long hard think about statistics like these. The trend towards video establishing itself as an essential component in the marketing mix couldn’t be clearer.

With so many companies setting aside ever larger budgets for creating compelling video content at all stages of the marketing funnel, the following five factors may go some way in convincing the more sceptical out there.

1. Video Helps Customers to Make Decisions

This latest survey, as reported by Search Engine Watch, looked at the effect video has on brand image and purchasing decisions. Amino, the creators of the survey, published results that saw 73% of 1000 respondents in the US confess that they are more likely to buy a product or service online if they can see a video relating to it first.

Translated to a wider consumer audience, this means that the majority of online purchasers are hungry for video content to help guide them in their purchasing decisions. If consumers want it, then it stands to reason businesses that provide it are more likely to end up with increased transaction levels, especially on premium products with a higher price tag. Volvo’s Epic Split video featuring Claude Van Damme is a perfect example of the attention amazing videos can bring to your brand. Published on YouTube in November 2013 it currently has 71 million hits.

2. Video Makes you Look Good

Video helps to promote your company by enhancing and reinforcing a positive brand message in a visual, instantly accessible manner. Honda are particularly good at lending their brand an edgy, intelligent, innovative tone by creating videos that don’t just sell their products, but promote the philosophy behind the engineering. Their latest video, Honda’s Mean Mower, has generated over 1, 151,000 views on Youtube and has been live just over a week. It perfectly sells their brand message ‘The power of dreams’ by showcasing what the world’s fastest lawnmower can do, whilst never directly trying to sell a product at any point.

3. It Increases Conversions

Conversion rates are likely to be much higher on campaigns that integrate video marketing. For example, video can help support your SEO strategy by enhancing the probability of your content ranking on page one, especially if your video has gained traction quickly with your audience, who then go on to share the content on various social media platforms and elsewhere. Google in particular likes relevant, themed content and video is increasingly being seen as a necessity by those looking to consolidate their page one visibility

4. Video Conveys your Message Quickly

In much the same way that a television commercial can sell a product to thousands in just a few minutes, tailored video content can reach out to your audience and communicate your message in just seconds. Research has shown that a minute worth of video is worth 1.8 million words. That’s a lot of information to get across in a single minute, and as such proves a very cost effective marketing method if used correctly.

New platforms like Vine and Instagram video are enforcing short time limits on marketers and offering up new opportunities for marketers to create memorable six second vignettes centred around their brand.

5. Video Easy to Track

Video marketing is easy to track, with several key metrics indicating the success of your video campaigns. Being able to track viewer numbers and referral traffic to your company website is key to understanding what works for you and what doesn’t. Sharing these stats to customers and colleagues on social media is now easy to do as well.

YouTube allows you to track various statistics via its Analytics function, which is similar to Google’s web analytics programme, and gives you enough detail to manage your video content efficiently. Customer Relationship Management platforms are now also catching up with by integrating more video tracking into their software.

Video marketing is like any other marketing tactic, in that you only get out what you put in. It is not enough to create a half-hearted 30 second video on your mobile phone featuring your key products, or your company CEO talking about how great you are; good video marketing needs a carefully thought out strategy to help you achieve success.

Research has shown that viewers respond more positively to professionally created video content than user generated content, by as much as 30%. Suffice to say, the service of a good video production company is certainly a sound investment when launching your company’s first concerted video marketing campaign. Mark my words, you’ll never look back.

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