32 REASONS WHY YOUR BUSINESS NEEDS A VIDEO
We live in a video-first world. People watch video – lots of video! According to Cisco, video will make up 82% of consumer online traffic by 2021. It’s an incredible statistic, to be sure – and one that demonstrates the profound ways in which video has impacted the way we live our lives.
This growing fascination with all things video can be attributed, at least in part, to human nature. As LinkedIn Senior Manager for Content Marketing Sean Callahan puts it, “people cannot resist sight, sound and motion – it’s an evolutionary thing.” Couple that innate desire to see, hear and experience with unprecedented advances in technology over the last decade, it’s no wonder that video has completely transformed the online world as we know it.
For those hesitating to dip their toe into the realm of video marketing, consider the following statistic from a recent Think with Google study: nearly 50% of internet users look for videos related to a product or service before visiting a store. Furthermore, multiple studies suggest that users who actually watched a video are more likely to go through with the purchase!
So why the shift from traditional marketing to a more video-focused approach? As HubSpot CEO Brian Halligan states, “the way people do business has changed, and companies are rising to the challenge to meet consumers where they are. Mobile video traffic has increased dramatically in the last few years – a trend that is expected to continue for the foreseeable future
So what is video marketing?
Put simply, video marketing is the creation of compelling video content, which is used to promote your product or service. But video marketing is more than just recording videos and uploading them to your YouTube channel or Facebook page. It engages your viewers, entertains them, informs them, and inspires them to take some form of action like sharing your video or visiting your website.
VIDEO MARKETING: THE INDUSTRY’S BIGGEST DISTRUPTOR
Gone are the days when having a website presence was enough to guarantee conversions. Whether you work for a big corporation or a small business, the integration of video in your marketing strategy is more than a nice-to-have these days – it’s a necessity. Serial entrepreneur Gary Vaynerchuk even calls video marketing the “single most important strategy in content marketing today.”
1) 63% of consumers watch video at least once a day, and 89% of consumers watch video on social networks a few times a week or more.
2) Using the word ‘video’ in an email subject line boosts the open rates by 19%, according to Syndacast, and a report published by Forrester indicates that including video in an email leads to a 200-300% increase in click-through rate.
3) On average, roughly 80% of marketers and small businesses create at least two videos per month. 48% of marketers surveyed by Animoto say that they create four or more videos every month.
4) Unbounce reports that including video on a landing page can increase conversion by 80%.
5) According to NIELSEN Wire, 36% of online consumers trust video ads.
6) Enjoyment of video ads increases purchase intent by 97% and brand association by 139% according to Unruly.
7) According to HubSpot, 43% of consumers want more videos from marketers.
8) Eight out of 10 people will watch an entire video, compared with only two out 10 who will read an entire page of text content.
9) Four times as many customers would rather watch a video about a product than read about it. And a recent industry study concluded that viewers digest information from video 60,000 times faster than they do text-based information.
10) Nearly half of Internet users search for product- or service-related videos before visiting a store, according to Google.
11) A Forrester research survey found that a website with video is six times more likely to convert a “browser” into a paying customer.
B2B BUSINESSES CAN’T AFFORD TO NEGLECT VIDEO MARKETING
There’s no doubt about it – video marketing delivers measurable value for your business, by boosting engagement and influencing purchase decisions. Brands and businesses can now have a closer dialogue with customers on social platforms like YouTube and Facebook, which provide a more personalized experience.
12) An average visitor spends 88% more time on a website containing a video than on a site without one. 27. 90% of users say that seeing a video about a product is helpful in their decision process.
13) 90% of users say that seeing a video about a product is helpful in their decision process.
14) 70% of marketers say video produces more conversions than any other content, and that video can increase organic traffic from search engines by up to 157%.
15) Website visitors who view a video will stay an average of two minutes longer and will be 64% percent more likely to make a purchase than other site visitors.
16) According to retailers, video increased their sales by 40%. An Australian retailer reports that real estate listings that include a video receive 403% more inquiries than those without.
B2B MARKETERS CAN BENEFIT FROM VIDEO
Video is about more than just marketing; from a business-to-business and account-based marketing (ABM) standpoint, it can be effectively used for everything from training to prospective employee recruitment. Don’t underestimate the trust factor, either. By educating executives or business people on your product or service, you gain their confidence, thereby making them more likely to consider your business for their needs.
17) According to Forbes, 59% of executives would rather watch a video than read text (perhaps because videos are more immediate than text, making them an ideal medium for those who have a lot to do and a limited amount of time in which to do it).
18) Forbes also reports that 65% of executives visit the marketer’s website, and 39% call a vendor after viewing a video.
19) 96% of B2B organizations use video in their marketing campaigns – of which 73% report positive results on their ROI, according to ReelSEO.
FACEBOOK IS A POWER PLAYER, TOO
Facebook has also established itself as the second-most popular platform on which to watch video (behind YouTube), with over eight billion average daily views and 100 million hours of video watched daily.
20) According to a recent Animoto survey, 64% of those polled say that watching a marketing video on Facebook has influenced a purchase decision in the last month.
21) 40% of total video viewing on Facebook is driven by people sharing content, and not from the original video post.
According to Zenith’s October 2017 Mobile Advertising Forecasts report, mobile devices now account for 70% of Internet traffic worldwide. The rise of mobile video in recent years has been nothing short of revolutionary.
22) Mobile shoppers are three times as likely to watch videos as desktop users.
23) 48% of smartphone users are more likely to buy from companies that provide instructional video content, and 69% are likely to buy from those that help them easily find answers to their questions.
24) 57% of smartphone users watch product video in stores, according to Invodo.
25) 82% of smartphone users consult their mobile device for purchases they’re about to make in stores, and 48% of smartphone users are more likely to buy from companies that provide instructional video content.
26) 92% of mobile video consumers share videos with others.
INSTAGRAM GAINING VIDEO TRACTION
In the last couple of years, Instagram’s executives have recognized the vital importance of video in their offering, and have made huge strides toward beefing up their video capabilities – from longer video limits to Instagram Stories and promoted video ads. As Adam Winograd at Fiverr declares, “Instagram is the place to be for video marketers.”
27) More than five million Instagram videos were shared in the 24 hours after the platform introduced videos.
28) Instagram reports that users share an average of 95 million photos and videos per day
29) Over 33% of Instagram users have used their mobile device to purchase a product online.
YOUTUBE STILL REIGNS SUPREME
YouTube provides businesses with a higher return on investment than TV advertising in 77% of the studies they conducted. That’s especially good news for smaller businesses, which are unable to invest the often prohibitive amount of money required to secure television advertising; YouTube effectively levels the playing field, giving them more of an opportunity to compete against larger brands.
The key thing to remember about YouTube (as compared with other social platforms) is that people visit the site specifically to watch video. YouTube also helps about 69% of its users to make a purchase decision.
30) Almost four times as many people prefer to watch videos on YouTube than other social platforms that are not video-centric.
31) Worldwide, over 50% of YouTube views come from mobile devices; in 2016, 75% of adults watched YouTube on their mobile devices at home.
32) Not only that, but those who watch videos on YouTube on their mobile devices are twice as likely to pay close attention compared to TV viewers.
THE BOTTOM LINE
These are cautionary statistics – but they are by no means reasons to shy away from video marketing. We see video marketing as more than just a fast-growing trend – it’s an industry that’s here to stay
By now, you’ve hopefully been convinced of the need to invest in video marketing for your business. So how do you begin? While it may seem somewhat overwhelming, the formula for successful video marketing is actually rather simple. It all boils down to start with a simple thing: GREAT VIDEO CONTENT
Have you thought about having video content for your business? Don’t know where to start? Let’s talk! No strings attached. Visit our website at www.netvid.net
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