The word is finally out. Video marketing is so incredibly important to business owners today that it’s essential. You simply can’t do without it in the modern market if you want to succeed. Let alone compete with your competitors. Though text information won’t ever lose its necessity, video content is vastly more popular. Of all media forms, it’s the easiest to digest. Every single day YouTube logs over a billion hours of watch time. One billion. This alone should be enough proof to get the attention of anyone interested in digital marketing. If you want to succeed in the DM industry, you have to understand the power of video.
The Truth About Video
Video can be shared easier than any other media form. And sharing digital media is key to effective word-of-mouth exposure today. The majority of apps, for example, are being created and updated specifically to facilitate video content. All these software companies know that if their programs don’t do that, they’ll be outperformed. Consumers prefer video. Plain and simple. It’s engaging, versatile, entertaining, and offers a very big ROI.
There Are So Many Different Kinds Of Marketing Videos
Different types of businesses create different kinds of videos to serve their particular purpose. Depending on the industry, product, and customer, one kind of video may work where another may not. The good news is that there are lots of different kinds of marketing videos to choose from. Of course, before choosing the kind of video you’re going to make, you need to have a strategy. A content marketing strategy. Once you’ve got that laid out, you can then choose the right video type to fit your goals. Here are short explanations of four of the most common kinds of marketing videos.
Explainer Videos
Though some people claim that explainer videos are going out of style, data suggests otherwise. These videos are often made using some kind of animation. That’s because when you need to explain processes, ideas, philosophies, and systems, animation does that best. Business owners who need to deliver these kinds of messages often make explainer videos.
Interviews
Interview videos can be used to accomplish many different purposes. Testimonials using interviews can be very effective. If you have an influencer, such as a special guest of spokesperson, this kind of video is a good choice. One nice thing about interview videos is that you can take the audio and turn it into a podcast episode.
Product Reviews/Demos
Particularly if your business involves selling physical products on a retail level, demo videos are great. You should want to have a video on your site that shows your product or service in action. That way it’s not left up to the customer’s imagination. If they can see it, they’re much more likely to buy. Sometimes happy customers will create demo videos for you and share them online. This is even better. Or you can seek out influencers. An influencer is a person on social media who wants to gain a following by advertising for businesses. You give them your product to try and they review it. Free product in exchange for advertising. Also, product reviews in bulk can be used as market research.
Live Video
Live video is becoming more and more popular. Businesses are finding that it’s one of the best ways they can utilize social media for marketing purposes. It also allows you and your audience to become close. It’s a very personalized video marketing method.
These Stats Answer The Question Why Is Video So Important In Marketing?
If you’re not convinced already, here are some statistics relevant to the video marketing world. These answer the question Why is video so important in marketing? These statistics were pulled from recent poll data.
Video content provides the highest level of product understanding, say over 95% of marketers.
In the past, advertising and marketing were done with a direct sales pitch approach. Today, in the world of the internet and online shopping, things have changed. Now businesses are trending toward a more value-based approach. This is likely because of the millions and millions of instant choices consumers now have. Less than 20 years ago, your choice of a particular product was still limited to the supermarket shelves. Not anymore. Because of today’s vast number of product options, the hard sell approach isn’t as effective.
Video content is fantastic at delivering a value-based product message. Give the consumers a quick video they can watch that explains your service and its value. Sure, they may also watch videos from some of your competitors. That’s to be expected. But if you’ve positioned your product correctly with the help of video content, they’ll choose you!
By the year 2021, video will represent at least 80% of internet traffic worldwide.
Because watching videos is what most internet users do, search engines place a high priority on them. Companies like Google can see that video is what the consumer prefers. As a result, businesses making them usually get better SEO results. Make sure you know how to optimize your videos properly.
As of 2019, it’s estimated that video marketing is being used by over 80% of businesses.
Yes! This is great! In the not-too-distant-past, this number was much lower. But business owners are finally coming to grips with the facts. Video is what their customers want so they’re giving it to them. An explainer video that’s less than 2 minutes long can often make all the difference. It can provide, in that short time, sufficient education for a person to understand all they need to buy. Remember to tell a story in your video. Something they can relate to. Boring videos don’t tell stories.
By 2021, almost 15% of internet traffic will be live video.
The main platforms for live video these days are Instagram, Facebook, and Snapchat. People who understand the game of live video on social media can gain massive followings. And the more people who follow you, the more exposure you get. And more exposure almost always translates to more sales. We’ve heard of businesses using the time-sensitive nature of Snapchat to their advantage. Creating time-sensitive promotions available exclusively to people who follow them on social media and see a certain post. And that’s only one idea. Consider using live video to offer your customers a more personalized and intimate look into your company. It’s a good way to build loyalty.
Before buying something, over 90% of people prefer watching a video first.
The data here speaks for itself. If you have a video that people can watch showing your product in action, you will make more sales. Simple as that. Likewise, if you don’t have a video like this, you aren’t making as many sales as you could. In other words, you’re losing money. Many companies put these videos on their home page or on a landing page of some kind. This way the person has an opportunity to view the video right away. Also, putting these kinds of videos on your website is great in another way. People spend more time on your site! If they’re watching a video on your site, they’re likely going to stick around and explore.
Some Video Marketing Advice
Just so you know, the length of your video should depend on where you’re sharing it. For example, if you’re planning on sharing it straight to YouTube, around 2 minutes is a good length. But if you’re sharing it on Instagram, 30 seconds is better. Sharing to Facebook = around a minute. Sharing to Twitter = around 45 sec.
Make sure all the videos you create are mobile-friendly. Most people access the internet from their phones now, more than their computers.
All videos need to be optimized for SEO.
Track the performance of your videos. Don’t just put them out there and hope they’re doing their job. Use tracking software so you can figure out what works and what doesn’t. Check your metrics regularly.
Every video you make needs to have a call to action. Every one.
Over 80% of marketers acknowledge that video is taking over
Over 50% of social media users who watch a video engage with the brand
Money spent on video marketing has gone up over 50% in the last 3 years
Almost 90% of marketers express satisfaction with their video ROI
Almost 75% of consumers prefer video over written content before buying
Over 3/4 of every second spent on cell phones is spent watching videos
Interactive video is used by a quarter of all marketers
Video marketing is as important for businesses now as it’s ever been. The ever-increasing popularity of social media has played a big role in this development. Those who keep up with information in the world of video marketing have an edge over their competition. We want you to be that person. Benefit from not only having a digital marketing strategy that involves video but also from being informed on the subject.
Here are some promising statistics related to video marketing that will get you excited for the future. They should also help motivate you to give more attention to video marketing if you’re not already. These video marketing stats don’t lie.
1. Over 80% of marketers acknowledge that video is taking over
For many years now, video has consistently yielded really good results. It’s been in the last half-decade where we’ve seen lots of business owners finally jump on board. And industry experts fully believe that the importance of video marketing for businesses will continue growing. Honestly, there isn’t any reason to believe otherwise. Video is king. People prefer watching a video over reading an article when given the option.
Business owners must start creating video content now (or at least sooner than later). This is because in order to get it right you often need to experiment. What video type will work best for your business and for what you’re trying to accomplish? It may take some tinkering. Some trial and error. The sooner you go through this process, the sooner your business will reap the rewards.
2. Over 50% of social media users who watch a video engage with that brand
Of all the things a business can do to attract customers, few (if any) have a better success ratio than video content. They are so good at increasing site traffic and brand awareness. And in this case, “so good” means getting over half the people watching to engage with your brand! That’s crazy!
And this news gets better when you break down the numbers even more. If we just consider Millenials, that percentage goes up to over 65%! Almost three-quarters of every millennial who watches your video on social media will interact with you further. I think it’s safe to say that anything producing those kinds of numbers is worth your marketing dollars. Videos are essential to effective advertising and building a strong social media presence.
When looking even deeper, you’ll find that almost a quarter of the people interacting with your brand visit your site. That same amount of people will do more research on your company, Googling your brand to find out more. One study showed that Millenials actually prefer there to be a direct purchase link associated with the video. When people are clicking the link, you know the video is working.
3. Money spent on video marketing has gone up over 50% in the last 3 years
Companies are investing in video marketing more than ever. That includes both mobile and digital advertising. Since 2016, money spent on it has gone up over 50% and that percentage is rising still. Do you know why? Because it works. And everyone is starting to figure this out.
Fun fact: what industry would you guess spends the most on video marketing? The answer: household goods.
4. Almost 90% of marketers express satisfaction with their video marketing ROI
The statistic above is specifically referring to social media video marketing. But still, the ROI numbers associated with all kinds of video marketing climb ever year. Spending a few thousand to make many times that is appealing to business owners, it seems. In fact, referencing the same study, we learn that almost half of business owners polled agreed on something else. The marketing dollars spent on video sees the biggest ROI compared to other marketing efforts.
5. Almost 75% of consumers prefer video over written content before buying
Let’s say you have an online sales page. On the page, you’ve got written content and a video. Which one do you think most people will interact with first? Video. When someone goes online to learn about a product they’re interested in buying, they are hoping there’s a video. They want to see it. They want to hear an authoritative voice talking about it. Almost all of your potential customers prefer this. If you don’t have a video on your website, let alone a video marketing campaign, you’ve got work to do.
One of the reasons people love product videos is because seeing is better than imagining. Also, the total time a person takes to make a buying decision goes down with video. When your product or service has an accompanying video, more people are likely to buy. Videos feel more authoritative than text. And we haven’t even mentioned one of the main reasons people love video marketing. Because they can share it with people after they know how great your product is! People love sharing what they love on social media. They can’t do that effectively without a video.
6. Over 3/4 of every second spent on cell phones is spent watching videos
Did you get that? When people are interacting with their cell phones, almost 80% of the time they’re watching videos. Let that sink in. A large percentage of people watch video on their phones now more than on their TV. If any of these facts are clear about the importance of video marketing, it’s this one. You need to put your brand in the place where people spend there time. And today, it’s on their mobile phones.
There’s another aspect to this that you should know. There are videos that are recorded live and then there are static videos. The live videos we’re talking about here are things like behind the scenes clips, Q&A videos, tutorials, etc. Guess what? These kinds of live videos are watched 3x more than static videos! Get thinking about what kind of live content you can upload for further brand awareness and customer interaction.
7. Interactive video is used by a quarter of all marketers
An interactive video is a live stream or any other video content where people can interact in real-time. Customers love this! People feel truly connected to your brand when they have these opportunities. Interactive video has been shown to be great at developing loyal customers. Almost 25% of marketers polled said that they have used interactive video at some point. And most of them said they found success with it.
2019 Video Marketing Stats – Conclusion
This data is incredible for you! Information like this is so valuable. Take advantage of it by getting to work figuring out how you can implement video into your marketing plans. The positive proof behind these video marketing stats is overwhelming.
Quick Summary of Why Video Marketing Is So Effective: 1. Boosts Brand Awareness 2. Makes You An Authority 3. Incites Action 4. Generates Engagement 5. It’s What They Want
If you haven’t noticed by now, video is king. In 2018, over 75% of all internet traffic was video content – and that percentage is still climbing. It’s estimated that over 60% of the world’s internet users watch videos online every day. Though written articles still get plenty of clicks, data shows that video traffic far surpasses all other forms. Saying video is trending up would be a gross understatement.
Needless to say, if you’re not putting marketing efforts toward the creation of video content, you are behind the times. The absence of a video marketing strategy means you’re leaving so much on the table in terms of audience engagement, social media influence, and much more.
Why is video marketing so effective? Why does it carry so much weight when it comes to modern business success?
Boosts Brand Awareness
How important is successful branding to a business owner? It’s not just important. It’s imperative. And video marketing is the BEST way to increase awareness of your brand. Through video you easily answer all the questions your demographic is asking, you can share testimonials from existing customers, and tell your story. On top of all that, the world can hear your voice and/or see your face as you’re doing all these things, making everything much more memorable for them.
Through video, you pull back the curtain, revealing the personality behind the brand. It humanizes your brand and allows them to really feel the passion you have for what you do. They get a taste of the culture inside your organization. All of this builds something you absolutely have to have with your customers: trust. Bring transparency and authenticity to your message with video.
When you upload quality video content, your brand has the potential to reach an infinite amount of people. There’s simply no better way to get in front of your audience than original videos.
Makes You An Authority
You feel like an authority in your field. But your potential customers aren’t automatically going to view you and your brand that way. You’ve got to prove to them that you are an experienced and trustworthy voice worth listening to. There’s something about well-made video content that instantly legitimizes you. When the public views your material, in their minds you have automatically entered the ring as an industry thought-leader, simply by having video content.
Now add to that video that actually educates them, solves their problems, and inspires them and you’ve got a winning recipe for being viewed as an expert.
Incites Action
When it comes to conversions, video is essential. Recent data shows that almost 70% of people are more likely to buy a product or sign up for something when they can watch a video about it first. The legitimizing nature of video content accompanying a product or service is in play here. But it also works because a call-to-action in a video is so good at being direct, compelling, quick, and memorable. Sales always get a boost with video content.
Generates Engagement
One particular aspect of video marketing that’s becoming more popular is live streaming. This is because of the great ROI companies receive when dedicating time to this. Three times as many people spend time watching live video than they did only a few years ago. Apps that allow live streaming (Periscope, Instagram, Facebook) are generating huge amounts of engagement.
By live streaming with your audience, you’re offering them real-time opportunities to interact with you which does wonders for trust-building. There are multiple reasons you might want to live stream; report breaking news, give a behind-the-scenes look at something relevant, or do a Q&A session, for example. Live streaming is a fantastic way to truly allow your customers to connect with your brand.
It’s What They Want
YouTube gets more daily visitors than Facebook. Behind Google, YouTube is the most visited website in the world. If that’s where everyone is, why wouldn’t you make an effort to be there too?
Recent polls revealed that, when thinking about buying a product, almost 5 times more people prefer viewing a video about it rather than reading about it. This shouldn’t be a surprise. A video lets them see it instead of imagining it. The benefits and features can be demonstrated right then and there. Science has also concluded that our brains understand and retain visual information faster and easier than written information. No wonder people gravitate to video more than anything else.
If you’re spending your marketing dollars on video content, good job. When done right, video content achieves incredible ROI. But just having Ydraw create an awesome video for you and then setting it free on the internet would be unwise. You need to track what it’s doing. Is your video actually working for you? You need to know how to measure the sales impact of your videos. Here’s how.
Conversion Rate
First of all, you need to track the conversation rate. How many people are taking the action you want them to after watching your video? If the percentage is lower than you expected, you’ll need to do some research. Maybe your call-to-action isn’t as compelling as it needs to be. Perhaps your target audience isn’t being found because you’re not using the right platform. These are only two of the who-knows-how-many reasons for your video’s performance. Dig in and get the data.
On the flip side, if the conversation rate from your video is good or better than good, find out why. Do research on what’s causing it to work so well so you can replicate those things in other areas of your marketing – including future videos.
Engagement Rates
Next, you need to measure engagement rates. Use analytics and software to get your answers. What percentage of viewers are watching the whole thing compared to how many are clicking away before it’s over? Is there’s a particular moment in the video that has the highest clickthrough rate? How many likes, shares, and subscribes is the video producing? Depending on your video host, there are many more metrics you can measure that are very helpful.
If your engagement rate is low, then you’ve got some figuring out to do. Video comment sections can be a helpful way to learn what people think about it. If there’s a pattern in the negative feedback, that should allow you to pinpoint some of the issues. Don’t be afraid to engage with customers directly and ask questions, whether via email or right there in the comments.
And, just like we mentioned above, if your engagement rate is awesome, do similar research to make sure that you understand what’s working. You’ll want to implement these practices in future marketing efforts.
Vanity Metrics
Do your best not to be fooled by vanity metrics. What are vanity metrics? These are things like the number of comments, likes, and views a video is getting. The reason we say not to be fooled by them is because even though those things generate excitement for you, a lot of times they don’t correlate to increased sales.
However, we’re not saying that more views is always disconnected from sales. You’ll have way more conversion opportunities the more views you get. You may just need to a little optimizing. Revisit how the video is placed on the page, the video’s size, and its thumbnail image. It’s common to do a lot of experimenting with these types of things to find out what generates the best results.
How to Measure the Sales Impact of Your Videos – Conclusion
Don’t make the mistake of failing to monitor the impact of your marketing dollars. You’re wise to spend them on video content. But just because video content has a historically high ROI doesn’t mean you don’t need to monitor it. Now that you know how to measure the sales impact of your videos, get in the habit of viewing the analytics. Don’t try and let the video do all the work. Lead and guide it to generate the most sales possible.
In 2019 we are sharing all the goodies. We’re starting a video series called Moron Monday talking about what we’ve learned about video marketing over the years and what you should be implementing into your business. You can check these out weekly on our YouTube Channel.
In this weeks video, Jace is sharing some tips on video remarketing and why it’s important.
Video Transcription
Hey guys, Jace over here at Ydraw. Today I want to go over just a couple things on video remarketing, why it’s important and what you need to do to put it into play.
1. Build Your Audience
First off, most people take multiple touches for them to become a customer.
If I’m going to go get a product, usually I’ll look at it online, I’ll talk to somebody, I’ll look at it some more, and then finally a couple months to sometimes years down the road, I’ll finally make a decision.
Something you can do to stay in front of your audience is create a simple video remarketing campaign.
Very first thing you need to do is actually build that audience.
Google gives you the ability to put a pixel on your website. If you go to Google Ads, within Google Ads or Google Analytics, you will find a pixel. You can also use Google tag manager.
You go in there and you find a pixel, you get the pixel and then you put it on the header of your website. That way when someone comes to your website they then get a cookie and you can start running and remarketing.
But you can go a step further… so instead of just running and remarketing, you can run them a video remarketing campaign that shows up on YouTube.
Also, they’re getting pretty aggressive on their TV advertising, so if people are coming to your site, they’re home watching TV, you can then run them an ad.
The very first thing is to get that pixel and get it on your site. You should be doing that anyway and building out your audiences. A 30 day, a 15, a 7 day, a conversion, there’s all types of audiences.
Then also, make sure that you build out an audience of anybody who has watched your YouTube videos.
2. Get A Video
Step two, you need to get a video. It can be professional or it can be homemade. You just need to get one, make sure that video’s very engaging.
Make sure that you have a good call to action on there and you’re telling the audience what you want them to do.
Another thing you can do to help it be engaging is educate. Kind of like what I’m doing here, I’m going to give you guys a lot of education, provide you some value, and then you can turn around and ask for their business later on.
If you can’t afford an expensive video, pull out your phone and give them some good education. Then make sure you give them a call to action like go visit your website.
3. Create Your Google Ad
Then finally when you have those two things in place, you got your pixels, you’ve tracked your audience, then you have your video, now you need to go create your campaign.
Go to Google Ads.
You’re going to target your website visitors or target anyone who’s watched your YouTube videos.
A small budget works but if you have too small of a budget, you need to make sure you exclude videos like games.
I even like to exclude mobile sometimes. I feel like when people are on their mobile phones they’re going to a YouTube video they want to watch that’s there and they’re more likely to skip.
But on their desktop, I get higher conversions. So, I’ll turn off my mobile remarketing campaign and just leave it on desktop.
There it is. If you have questions, you can go visit us at Ydraw.com. Feel free to call us. We’d be happy to help you on your video. We’d also be happy to help you set this up.
We’re doing video marketing campaigns all the time and this is just one little aspect of video marketing.
