Updated: Feb 4, 2020
Let's face it. We live in a fast-paced society driven by technology and propelled by endless access to digital content and information. It's no wonder marketers and small business owners alike, are continuously looking for ways to stand out among the crowd. And who could blame them? In today's marketing environment it's critical to actively search for inventive, meaningful and unique ways to connect with those who could benefit from your products and services.
Although video marketing has been around for some time, in recent years it has surged in popularity and use. Video has proven to effectively engage consumers which is no surprise since a recent study now predicts that video will account for an unprecedented 82% of all internet traffic by 2020. Cisco Facebook alone generates 8 billion (that's billion with a B) video views on an average day. Social Media Today
Video marketing is no longer up and coming. It has arrived and it is here to stay. Still wondering if video marketing is right for you? We've compiled a list of our top 5 reasons you should implement video into your business's marketing strategy.
1. Build Trust & Grow Brand Awareness
Implementing video into your marketing strategy is one of the best ways to engage clients, build trust and grow brand awareness. It is reported that 1 minute of video is equal to 1.8 million words to your audience. Tubular Insights As a result, video marketing has a powerful way of conveying information, making emotional connections and simply highlighting branding content. Whether your business decides to utilize an educational video featuring information and "how-to" tutorials, or a testimonial video sharing stories of actual customer experiences; video can serve as an effective tool in any business' marketing strategy.
2. Increase Conversion Rates
Because video can engage consumers, businesses have started to see a correlation between the implementation of video and an increase in conversion rates. For instance, including a video on your landing page can increase conversion rates by 80% or more. Unbounce Similarly, video in an email leads to a 200-300% increase in click-through rates. HubSpot The more time consumers spend on your site the more likely they are to learn about your brand, your products, and your services...which from a marketing standpoint is always a good thing.
Not only does video increase the number of click-throughs and overall time consumers spend on your site; but it can also directly affect the conversion of sales. 90% of users say that product videos are helpful in the decision-making process. SmallBizTrends It is also reported that after watching a video, 64% of users are more likely to buy a product online. HubSpot That's a statistic I'm sure all business owners would be happy to accept.
3. Boost SEO
SEO...its a beast! Its something every small business owner wants to improve but either lacks the time, knowledge or resources. And although adding a video to your website will not automatically guarantee a top ranking in Google searches, it definitely is not going to hurt. Why you may ask? The answer is content. Having a video embedded on your website sends a signal to search engines that your site contains rich media content, relevant to search requests. In fact, you are 53x more likely to show up on the first page of Google if you have a video embedded on your website. Moovly Furthermore, companies using video enjoy 41% more web traffic from search than non-users. SmallBizTrends Conclusion...it helps. And when it comes to SEO that's good enough for me.
4. Harness the Power of Mobile
Can you believe it's only been 12 short years since Apple announced the first iPhone? I personally can recall a time before smartphones and during that time I distinctly remember thinking, "What a pain... who needs all of THAT on their phone?!" Boy was I wrong! True the dramatic increase in the popularity of smartphones isn't all positive and it does have its downsides, but there is no denying mobile is what consumers are using. And where consumers are, business owners want to be. It just so happens video is a fantastic pairing with mobile. In fact, mobile video consumption rises 100% every year. HubSpot Moreover, by 2020 it is predicted that 75% of all mobile traffic will be video. Wrike And to top it off, mobile video users are known to share content, 92% of mobile video consumers to be precise. Forbes
5. Bang For Your Buck
As we come to the end of our list, price may be the only question left on your mind. In the world of small business, resources or a lack thereof, play a major role in determining where marketing dollars are spent.
As a small business owner, I completely understand. Been there, done that. However, I do believe there is something to be said in regards to the impact video can have on your overall ROI. Not to mention the lost opportunity cost of not implementing some type of video content within future marketing plans. For instance, did you know 76.5% of marketers and small business owners that have used video marketing said that it had a direct impact on their business. SmallBizTrends And marketers who use video grow revenue 49% faster than non-video users. Workstream
One of the most successful examples of a low-cost, high return promotional video is that of Dollar Shave Club's. Seven years ago the company invested $4,500 into a promotional video that generated 12,000 orders within the first 48 hours! The video now has over 26 million views. Although this particular example may not be the norm, it does demonstrate that you don't need a huge budget to create an impactful video.
Our suggestion....start small. Don't let the obstacle of price alone deter you from at least exploring the possibility of implementing video into your marketing strategy. Simplify your content strategy, reduce the scope of your project or DYI with Facebook live, montages or simple landing page loops. And when you're ready, give us a call. We'd love to chat about your video marketing goals.