In the previous article in this series, we looked at what video marketing is all about. We saw various video marketing statistics that show why marketers are embracing video marketing more than ever before. In this article, we look at the reasons why this increasing interest in video marketing makes a lot of sense and why your business should join the trend.
(To read this series of articles as a single downloadable Special Report, click here)
History of Video Marketing
Conductor in an infographic summarized the history of video marketing.
Below is the timeline:
Bulova runs the first TV ad on a New York TV during a Yankees game
MTV launched the “Video Killed the Radio Star” by the Buggles
Apple launched an ad for the Macintosh. They ran the ad during the super bowl.
South Park creators created a video Christmas card for an executive at Fox.
Youtube is founded. Nike became the first company to get 1m views with the Ronaldinho golden boot ad.
Google “saw the future” and purchased Youtube $1.65 billion
Dove created the “Evolution Campaign” that sparked a global discussion about beauty.
Blendtec produced the “Will it blend” commercial and launched it on Youtube
Regular Joe did the “Charlie bit my finger” commercial that brought in $150,000 in revenue.
Google introduced Youtube ads
Old Spice created the first interactive video campaign
Metro Trains introduced Public Service Announcements with “ Dumb ways to die.”
Youtube began to create superstars out of contributors. Zoella beats j K Rowling and Stephanie Myers in her first week. PSY beats Messi and Kobe with 2.14 billion views
The infographics at Conductor traced the development of video marketing to 2015. However, various changes have occurred since then, especially with the introduction of the Facebook live video feature in August 2015 (it was made available for individuals in April 2016).
By 2016, videos began to form a part of content marketing. Marketers began to use it as a content marketing format, together with text and images. But by 2017, it gained much more prominence and was on top of most marketers’ marketing tactics. A year after, many businesses began to use videos as a business strategy in and of itself. So even without text or images, videos began to stand alone as a complete inbound marketing strategy.
What makes Video Marketing unique?
Video Marketing is unique as a content form because, as humans, we love videos. Some of the reasons why video is proving to be the most effective content form include the following:
- Processing visual content: The human brain processes visual content faster than text (about 60,000 times faster). Videos combine visual and audio content making it easier for the brain to process the information.
- Retention rate: Visual content have a 65% retention rate compared to text-based content with a 10% retention rate. Videos are more memorable.
- Less effort: Videos take less energy to digest. People can watch videos with more relaxation without exerting as much brainpower or concentration.
- Entertainment: Videos tend to have more entertainment value compared to text on a page.
- Engaging: Videos are more engaging. As you move from image to image, footage to footage, and scene to scene, you are thoroughly engaged in the whole process.
Since people love videos, they are a better content type for marketing. Marketing is all about reaching people where they are and informing every business decision by what your customers want. As a result, marketers and business owners must pay attention to the uniqueness of video marketing, especially when compared with other content types.
Benefits of Video Marketing
Video marketing, therefore, provides some benefits that can transform a business in its entirety.
Videos have a higher retention rate, and the human brain processes video content faster. As a result, when potential customers engage with your brand, it is easier for them to recall your brand. Perhaps this is why 64% of customers purchase after watching a branded video on social platforms.
Engagement is one of the most important benefits of video marketing. According to Small Biz Trends, videos generate 12 times more shares than text and images combined. They also found that including videos with ads increase engagement with the ad by 22%. Videos increase the open rate and CTR of emails.
More traffic and increased leads
Videos will increase traffic and leads. As said before, videos increase conversions by 80% on landing pages.
Research by Bright Cove shows that videos increase organic traffic from SERPS by 157%
An increase in traffic, leads, engagement, and brand recall ultimately leads to an increase in conversion. According to Oberlo, 88% of marketers are satisfied with the ROI from their video marketing.
You can never go wrong with video marketing when you do it right.
Videos and the Marketing Funnel
Videos are, therefore, very vital to your buyer’s journey through the funnel. At every stage of the funnel, video content can form part of your overall content marketing strategy.
Video content can help to turn strangers into visitors. Expert Interviews, Brand Videos, and Instructional videos are some video content types that can increase traffic to your website or social media pages.
Instead of focusing only on written text, adding video content to your inbound methodology can increase traffic tremendously.
According to research by Conversion XL, incorporating video as part of your inbound strategy can increase web traffic by 157%. A study by Marketing Sherpa found that videos can increase overall traffic by 300%.
With videos, your website is 53 times more likely to be on the front page of Google for your keywords.
At the conversion stage of the marketing funnel, video content can turn visitors into leads. Video content types like case studies, explainer videos, instructional videos, and animated videos can increase lead generation.
According to Unbounce, including videos on landing pages can increase conversion rates by 80%. This is not unexpected since people spend 2.6x more time on pages with video than pages without videos.
Including videos as part of your content marketing strategy can boost conversion rates and increase the number of your visitors that convert to leads.
Getting your leads to become customers is one essential part of your marketing funnel. Case studies, informational videos, instructional videos, explainer videos, demo videos, and animations can help to achieve this goal better. These various video types can increase trust, answer objections, and provide unique insights into the benefits of your product. As a result, you can turn your leads into customers.
Hubspot, in a research, found that including videos in emails can increase click rates by 300%. They also found that 97% of marketers believe videos help users gain a better understanding of their products.
Render Forest also discovered that video users increase revenue faster by 49% more than non-video users. Tubular Insights, in their survey, found that 64% of respondents purchase a product after watching a branded video on a social platform.
The end goal of the marketing funnel is to turn customers into promoters. One way to achieve that is through constant engagement with customers. Event videos and live videos are video content types that are very useful at this stage. Getting customers to give testimonials is also another way to engage them with the brand.
According to Animoto, videos are the favorite content type of customers. No wonder 54% of customers want to see a video from a business or brand they support. Research by Forbes also discovered that users would spend 88% more time on a website with video.
Videos can increase users’ engagement and help turn customers into promoters better than text and images.
Every business that wants to succeed in this digital age must incorporate video marketing into its content marketing strategy. Video marketing has many advantages, and every brand should explore how to use it to achieve their goals. In the next article, we explore how businesses can start to develop and implement a video marketing strategy.