In video marketing, we use videos to promote a brand, product or service. Examples of video marketing include viral videos, customer testimonials, videos from live events, how to videos, explainer videos, and corporate training videos.
The benefits of video marketing include increasing search engine ranking, conversions, click through rates and open rates. Video is cost-effective, and can reach your audience at any time. Video appeals to a person’s emotions, resulting in higher marketing efficiency than other mediums.
Online Video Marketing
- By 2017, 74% of all online traffic will comprise of online videos. (KPCB). As online traffic increases, the share of online video also increases.
- 52% of marketers think that videos are essential for brand awareness (WowMakers). More and more marketers are including videos in their branding as conversion rates increase when videos are used.
- Conversion will increase by 80% if videos are included (EyeView). Conversion rates rise with every video inserted on a landing page.
- Before visiting a store, almost 50% of internet users look for product or service-related videos (ThinkWithGoogle). Internet users are now more tech-savvy than before, and spend hours browsing online catalogues for the perfect item.
- Online shoppers who look at videos are 1.81x more likely to purchase a product or service than non-viewers (DMB Adobe). Non-viewers are less likely to purchase a product than online viewers; they have no prior knowledge of the product they want to buy. Those that view demo videos, however, have a better knowledge of the product. This results in a likelier purchase.
- As many as 4x customers would rather watch a video than read a review (Animoto). Most customers prefer to watch a video of a product than to read about it; they get to see the product up close. Various angles of the product can be seen as well. All this contributes to a quicker purchase. Merely reading about the product prevents the customer from getting to see the product up close.
Social Media Videos
- Facebook boasts of 500 million video watchers a day (TubularInsights). Facebook today boasts of millions of users. This number increases daily. More than an hour of Facebook or YouTube videos a week is watched by 45% of its viewers. (WordStream).
- 10 billion videos are watched by Snapchatters (AdWeek). Snapchat boasts of millions of users and billions of videos being watched daily.
- Twitter boasts of 82% of its users being video watchers (Bloomberg). More than 3/4th of Twitters users watch video content on Twitter.
- 43% of marketers would opt for video content over copy, but for the problem of cost and time(Buffer). Most marketers now prefer online video market promotion due to quick conversion rates and high search engine ranking.
Video marketing is thus a complete requirement for every business. It not only hikes sales but helps in customer retention as well.