Video marketing has been a hot trend for a while now. Relative to other formats, video content offers a number of distinct and impactful benefits.
Now before we delve in, let me start with a couple of stats from the Content Marketing Institute’s 2016 B2B Content Marketing Benchmarks, Budgets and Trends Report that I’d like you to keep in mind whilst reading this piece:
(1) Lead generation (85%), sales (84%) and lead nurturing (78%) will be the most important goals for B2B content marketers over the next 12 months.
(2) Seventy-nine percent (79%) of B2B marketers are using video marketing as a tactic today.
To add to this,
52% of marketing professionals worldwide name video as the type of content with the best ROI (Syndacast)
74% of respondents in a Vidyard survey said that video content produces better conversions than any other form of content.
Pretty compelling stats, right!
So if you are not using it already, the following are some of the most important reasons that you need to recognise the power of video marketing and include it in your marketing strategy.
Give The Customer What They Want
Companies spend a lot of time researching customer preferences to develop the right solutions. It makes sense to give customers what they want and what they respond best to, in content marketing.
Another recent B2B marketing study by Regalix (State of B2B Video Marketing 2015) revealed that 77 percent of respondents said their customers prefer video content.
84% of respondents expect their video marketing budget to increase in the next 12 months
83% agree that videos are effective in meeting their content marketing goal
79% use social media for distributing videos
77% say their customers prefer video content to text
A simple rule of demand generation is to give the people what they want.
And with more and more millennials (born between 1982 and 2004) moving into the decision-making process (as Google themselves demonstrate in this short video “The Changing B2B Buyer”), you need to ensure you are marketing to them in the right way.
People Will Watch
People click on articles because they believe the content will answer their questions or offers solutions to their problems based on the title. However, one look at extensive copy often turns people away without a second thought.
In contrast, people will watch videos – 65% of executives pay a visit to the marketer’s website and 39% call a vendor after viewing a video, according to Forbes.
In the same Forbes article, they report that 59% of executives would rather watch a video than read text.
Whether you include a video as a standalone feature on social media or integrate it within your content, people are willing to dedicate one or two minutes to watch it.
By watching, prospects see and hear your message.
Engagement is High
Engagement during and after video content is high relative to other content formats.
Companies that use video marketing receive 41% more web traffic from search than non-users (Aberdeen Group).
Video content offers the same multi-sensory appeal of television commercials. You can influence people with setting, lighting, sound, movement, narrative and dialogue.
A study on post-click engagement showed YouTube as the overwhelming social media leader in driving visit time and page views. This research contributed to Facebook’s efforts to implement live video streaming and better sharing of video content. Something it has now surpassed YouTube with.
Another positive for marketers is that video ads have an average click-through rate (CTR) of 1.84%, the highest click-through rate of all digital ad formats.
Videos typically give prospects a better awareness of what to expect when they click to your website than other content types.
Storytelling is Optimized
Great marketing is about telling stories that affect your buyers. When people search online, they are looking for information on solutions, not products.
Your audience is not interested in learning about what your latest solution does, they want to know what it can do for them.
Content marketing is about connecting research to buyer problems with information or messages that speak to them in an emotionally appealing way. Videos allow for the complete presentation of a solution.
Product demonstrations are powerful, and video allows you to show prospects how your solutions work. The evidence of product benefits is much clearer in video than in copy.
Testimonials are also helpful in invoking emotions and illustrating the impact your solutions have on customers. The ability to combine visual cues with information, humour and fun, add to the power of video presentations as well.
Video content is a necessity in competitive industries. Your competitors are using videos to influence buyers, and to create demand generation.
I’ll leave you with this other interesting fact from the Aberdeen Group that you can use to tap up your CFO for some marketing funds: Marketers who use video marketing as part of their strategy grow their revenues 49% faster than those not utilising video.
In many cases, your competitors rely on partners that specialise in developing and delivering high-quality video content. You can too! After all, 100 million hours of video per day are watched on Facebook alone. Don’t you want to get some of that action?