*The original article can be found in ASPE’s ROI November/December Newsletter. Interested in more articles like this one? View the most current newsletter here.*
There are companies that have used video marketing in the past, as well as those who have stayed away from video for one reason or another.
At this point, it doesn’t appear that anything is going to slow down the growth of the video marketing trend. More and more companies are getting involved, spanning a variety of industries.
To better understand why video marketing will remain just as popular in 2015 and beyond, we don’t have to look any further than what has happened in the past. Here are some key statistics that will surely open your eyes:
- According to comScore, in December 2013 188.2 million people in the United States watched more than 52 billion online videos. Adding to this, the average American spent roughly 19 hours watching videos via the internet.
- According to eMarketer, more than 72 million smartphone users in the United States watched video on their device at least once a month in 2013. Even more interesting is the fact that this number is expected to reach nearly 87 million by the end of 2014.
- MediaPost noted the following: “On average 12% of visitors to an ecommerce web page view a video when one is available. Many of those visitors often spend more money.”
Now that you have some statistics to chew on, it is time to learn more about the many benefits of video marketing. After all, there have to be reasons why so many companies are uploading video content. Here is what they are getting in return:
1. The ability to connect with people on a “mobile level.” Did you know that online video accounts for a large portion of mobile traffic?
If you are concerned about reaching people on mobile devices, including smartphones and tablets, focus more attention on video production.
2. Unique way of communicating with an audience. Every high performing website is full of targeted, useful content. However, your words can only take you so far.
When you get involved with video marketing, you have a whole new way of communicating with your audience. Some people are visual learners. For this reason, you need to show them what you are talking about, as opposed to explaining it to them in words. Using video is the easiest way of doing so.
3. Videos can go viral. Don’t expect every video you upload to your website or a sharing service, such as YouTube, to go viral. Do expect this to happen from time to time, especially if you are putting the appropriate amount of time and effort into creating videos.
One viral video is all it takes for you to see just how powerful this marketing tool can be. The traffic will be amazing. The response from your audience will be astonishing. And hopefully you are able to convert this newfound popularity into money.
4. Social media sharing. Do you have a strong social media presence? Are you trying to build your profiles on Twitter and Facebook in particular? If you are not using video, you are missing the boat.
Here are a few stats from War Room Inc. that back up this idea:
“More than 500 years worth of YouTube videos are watched daily on Facebook.”
“More than 700 YouTube videos are shared on Twitter every minute.”
There is nothing wrong with sharing text-based updates via social media, but it is important to understand the power of video marketing.
5. The ability to compete head to head with the competition. There is a good chance that many companies in your industry already have a strong video marketing strategy in place. You may be playing from behind, but it is better to get started now than not at all.
Tip: do some research into the marketing strategy employed by your top five competitors. Are they uploading video to their website? Are they sharing via social media? Are they taking advantage of the many video sharing sites that exist? If you answered yes to one or more of these questions, take some notes and then do the same.
From small companies to big brands, many are relying on video marketing to reach their goals. Here is another interesting tidbit from War Room Inc.:
“Amazon, Del, and other online retailers have publicly shared statistics showing that a posted video can increase the odds of a customer purchasing at item by as much as 35 percent.”
If your company sells physical goods, this is a critical nugget. By implementing video into your marketing campaign you may be able to quickly boost sales.
Common Video Marketing Roadblocks
Despite the many benefits, backed up by years of statistics, some companies continue to avoid video marketing. There are many reasons for this, including some of these common roadblocks:
- The belief that you need expensive, high tech equipment to shoot high quality video
- Fear of getting behind (or in front of) the camera
- Uncertainty as to what should be discussed on camera and what is best left for another type of content, such as a blog post
- Time necessary to devote to production, editing and distribution
These roadblocks can be scary and intimidating, but that doesn’t mean you should stay away as a result. Instead, you need to make a list of what is holding you back and then devise a plan for overcoming the challenge.
If you have yet to get started due to a lack of equipment, for example, consider the following: you can get up and running with an affordable webcam that provides solid quality. It may not be ideal. It may not be as advanced as your competition. But remember this: it is a start.
The popularity of video marketing will continue to explode in 2015 and beyond. If you want to get in on the action, let this piece serve as your guide. You may be closer than you think to shooting your first video.