Video is a part of our life in almost every single way. If you were to look up statistics about video marketing and video content, you’d find that they’re both growing at a rapid pace. With 1/3rd of online activity is being spent watching video, half a billion people watching video on Facebook every day, and 87% of online marketers use video content in their marketing strategies, it’s no small indication that video content plays - and will continue to play - a crucial role in the marketing strategy of a brand.
What Does A Brand Gain From A Video Marketing Strategy?
Source: HubSpot Content Trends Survey, Q3 2017
Video content has the potential to greatly increase the effectiveness of a brand’s marketing campaign. By using video, businesses can inspire, evoke emotion and appeal to the needs of their audiences in a real and authentic way. A video can even just cleverly and innovatively explain the features of a product or the services that a business provides. Take a look at these two video examples that show us how a video can explain a concept or service (Video 1), or can be used as an emotional tool (Video 2).
Video 1 - Ikea Explainer Video
Video 2 - 'Jaago Re' Tata Tea Ad
Now that we have an idea of the scale of video marketing, here’s what your business stands to gain if it follows a smart and powerful video marketing strategy:
(i) Better Social Reach & Increases Engagement
Telling your brand story and spreading brand awareness through social video generates the most impact, as compared to any other medium. With video, people can easily find you on social media and are 10 times more likely to share, comment and engage on video. Studies also show that 65% of video viewers watch more than ¾ of a video which means that retention rates for video content far outpace those of text-based content.
At the same time, it’s important to keep in mind the specific channel of video distribution (YouTube, IGTV, etc) and, in the case of some brands, the target audience.
(ii) High Rates of ROI and Customer Conversion
The easiest way to convert customers and achieve a boost in sales is through video marketing. According to recent research, 70% of respondents claimed that video performs better than other content for producing conversions. This is why many marketers name video as the type of content with the best ROI. With the help of video marketing, marketers can learn how their content was viewed, how much of their content was viewed, in what order, from what geographic location etc.
(iii) Visual Explanation of the Product or Service
A brand can explain their product or services through video in a variety of ways. One way is through an explainer video where all the features and details are communicated using strong visual elements. These types of videos are popular because they are short (usually a minute or under a 3 minutes), engaging, and visually appealing.
Another positive result of videos visually explaining a brand’s product or service is that a brand can change how customers interact with their product. A good example would be a video for a lipstick brand where the lipstick is not just a lipstick with amazing features but a tool for confidence, identity, and high self-esteem.
Ultimately, it’s up to a brand to take a call on whether or not it’s the right decision to invest in video marketing. There are many factors to consider such as leveraging audiences, tracking video results and implementing the findings in further strategies, and producing consistently high-quality video content. If a brand can handle such challenges, then video marketing is definitely the way to go in today’s digital marketing scenario.