Why Video Marketing Is Important 2021 – All You Need To Know
Video marketing has been all the rage the past few years. With video ads and sponsored video content, marketers can tap into the powerful video marketing approach.
Video marketing is a method where companies will promote their products or services through videos to their customers. There are several types of video marketing ranging from knowledge-based videos to customer stories.
Video marketing may be a complex approach due to the various nuances that brands must tackle. However, when done right, video marketing is known for its high returns in investment.
Keep reading to get a better understanding of the nuts and bolts of video marketing and its promising future.
What Is A Video Marketing Strategy?
A video marketing approach is when brands will use videos to promote their products and services or increase your online engagement with your customers.
In the United States, digital video marketing is a $135 billion industry.
According to HubSpot Research, more than half of consumers want to see brand videos.
Video on landing pages has been shown to increase conversion rates by over 80%, and 90% of customers say videos assist them in making purchasing decisions.
Additionally, videos can be an incredibly versatile tool for salespeople to use throughout the customer purchasing journey.
A few examples of how videos can deliver a more personalized and comprehensive customer support experience:
Animoto made a report on State of Social Video on consumer trends, stating that 93% of businesses acquired new customers via social media platforms.
The report also showed that video advertisements were efficient on three social platforms, namely Facebook, Instagram, and YouTube.
Moreover, the last few years have seen a surge in the different types of video content that marketers created such as demos, brand-related content, expert interviews, and event videos.
How Does Video Marketing Work?
In simple terms, video ads will reach customers mostly through social media platforms to promote a company’s products and services to potential clients.
It should be noted that several factors influence the performance of video marketing.
According to the Online Marketing Institute report on video marketing, more than 70% of users on YouTube use their mobile phones, and mobile video ad revenues are increasing at an annual growth rate of 26.5%.
The report also stated that video ads were mostly efficient between 10 to 30 seconds.
Below is a broad overview of how video marketing works:
Planning A Video During the pre-production process brands would first brainstorm for video ideas centered around the end result of the video. The video ads are developed to target their customer demographic and wider public to increase their online reach.
Shooting the video Most companies would employ videographers or shoot the video themselves to create their ads. Some video marketing approaches also use illustrations as their video content. Others may collaborate with influencers or celebrities to promote a specific product. Big brands are now launching campaigns in collaboration with influencers to convert their followers into potential buyers.
Choosing The Correct Delivery Method Since social media platforms have opened their doors to video marketing, most brands have submerged users with video advertisements. Social media companies have designed specific platforms where brands can register and set up their target audience for their ads. Depending on the budget, target audience, schedule, and social media platforms, companies will get charged an average of $0.97 for each click.
Why Do Small Businesses Need Video Marketing?
Small businesses will greatly benefit from video marketing as it increases brand awareness, online presence and builds trust.
Increase Brand Awareness Adespresso stated that in 2020, 78% of American Facebook users discovered new products on the platform. Besides, Omnicore Agency showed that more than four billion videos are viewed every day on Facebook. In comparison to other types of content, videos are more engaging and attract viewers. They are excellent at connecting with people and educating them about your brand.
Increase Online Presence Businesses may struggle to survive without an online presence due to the fierce competition for global customers. Video marketing is a great method of increasing your online presence with engaging content that is easier to consume. Viewers are encouraged to visit a website or click on a subscription link through videos. If viewers are happy with the content, they share the video with their audience.
Reveals Personality And Creates Trust Videos eliminate a barrier between brands and customers by showcasing the personality and core values of the company. It helps consumers to put a face on the name and feel closer to the brand. When feeling a deeper connection, viewers are more likely to trust the brand for its quality and values.
How Effective Is Video Content?
Video is an extremely effective form of content that has grown in popularity alongside the rise of social media.
According to a survey from Biteable, out of 694 marketers and small businesses, 74% stated that video marketing had better results than static imagery.
From the same survey, 68% of marketers reported that video marketing had better returns in investment compared to Google ads while 52% acknowledged that videos trigger trust among potential customers.
Besides, the demand for video content has significantly increased during the COVID-19 pandemic.
With more people staying at home, their main distractions were social media platforms.
Datareportal stated social media usage surged by more than 10 percent in July 2020 compared to July 2019.
Additionally, a report from Hubspot in 2018 showed that only 22% of millennials, aged 18 to 24, were interested in branded emails compared to 57% interest in videos.
Due to the rise in demand for videos, brands are now sponsoring influencers to create videos about their products.
Most YouTubers either mention the products in their videos or dedicate a full video to review sponsored products.
Is Video More Engaging Than Text?
Videos are the most engaging form of content because it grabs the attention of viewers.
Video ads pique the interest of customers more than approximately 27 times compared to static banner ads.
Additionally, videos do more than grabbing attention, they manage to keep the attention of users.
By eliciting strong emotional responses, more people want to comment or share the video.
BrightCove stated that videos are 1,200% more likely to be shared than texts or images combined.
Besides, according to a paper from The Law Teacher Journal, 65% of the population are visual learners.
With the majority of the population as visual learners, videos are more likely to be remembered than texts.