If you spend any time following the major trends in digital marketing, you’re probably aware that video marketing has become the hot topic of conversation. Sure, video has always been an important part of an overall marketing strategy, but it’s fast becoming the most powerful method of attracting prospects, and converting them into long-term customers.
But you may be asking yourself a few questions like why video marketing has become so popular, and if this is merely a trend or a sustainable marketing strategy.
Let’s try to answer those questions by analyzing some important numbers from 2017, and two things you should be doing right now in your video marketing to help boost your company’s bottom line.
The Numbers Don’t Lie
Statistics can sometimes make your eyes glaze over, right? But when you check out some of these video marketing numbers, you’ll probably run for the nearest computer to get started on creating your new video content.
Vidyard, which specializes in video-related marketing, crunched some eye-opening and informative numbers for video marketing in 2017, including:
- 71% of marketing professionals said that video conversion rates are higher than other types of marketing methods.
- 56% of all videos in 2017 were less than two minutes
- Videos that were 90 seconds or shorter had an average retention rate of 53% compared to videos that were 30 minutes or longer, which averaged a 10% retention rate.
- Retention rates for personalized videos are 35% higher than for videos that aren’t personalized.
- 35% of companies now use video analytics to determine ROI
- The most common types of video marketing content include, testimonials, how-to videos, and product demos.
- Videos are most commonly posted on social media platforms and company websites
- 86% of people watch videos on mobile devices.
- 49% of videos are produced by a company’s in-house staff
What do these numbers tell us?
First, short-form or ‘snackable’ videos are gaining popularity. These are videos two minutes or shorter that your audience can consume really quickly and still feel like they received something of value.
Second, businesses provide value in video content by answering a question (Q&As), solving a problem (how-to videos), and fulfilling a need or a want (product demos).
Third, video content must be optimized for mobile devices without losing image quality, font size or download speed.
Last, companies using video analytics are able to track and measure the effectiveness of their video marketing campaigns.
Marketing isn’t very useful if you don’t have tangible ways of measuring the impact of your methods, and businesses that use video analytics are much more likely to report that their ROI is trending upward.
So what does this mean for your business? It means you should be actively involved in video marketing, and there are two methods you can implement today to maximize your ROI.
Tell a Story
Video marketing gives you the opportunity to personalize your content in a more compelling way than written content.
For example, let’s say that you’re a nonprofit organization that’s committed to helping children in impoverished countries.
You could post a short video that shows a child playing, having fun and doing what normal children are doing, and have a narrator explain that just months before the video was shot, that same child was near death before your organization stepped in.
That 60-second video without dialogue, tells a complete and powerful story about why your organization matters, using nothing but images and a narrator.
By telling the story of that child, you’re actually telling the story of your organization and why you exist, and you’re doing so in a way that personalizes your mission to a single child.
Provide a Call To Action
Many business owners forget to think of video content in the same way that they think of written content, especially when it comes to placing a call-to-action (CTA) in the video.
Remember that the goal of your video marketing is to drive your target audience back to your website so that they can engage further with you business and either buy a product or service, or at the very least provide their contact information.
There are several ways that you can include CTAs on your video content that can help engage your audience, including:
- Previews – Create short-form video content that previews a longer piece of content, and create a CTA that viewers can click to read the long form content. Think of previews as teasers for the main event.
- Include An Email Subscriber Option – It’s easy to create a CTA button that allows viewers to subscribe to your email newsletter. Just make sure that the button is set off in a different color so that viewers can’t miss it on the screen. Obtaining a prospect’s contact info is the first valuable step in the conversion process.
Including CTAs is effective, because it eliminates one step in the process of getting viewers to engage deeper with your business. Instead of having to click to your website, and then perform the CTA, they can do it all on the video, which makes things easier for them.
Video Marketing Is Not a Fad
The numbers tell us that video marketing has been growing over the past few years, and forecasts to grow even more in the future. Video marketing is a valuable tool in your marketing arsenal, and it is also measurable so that you can constantly assess what’s working and what needs improvement. Take advantage of the video revolution, and offer video content that is entertaining, informative, and compelling enough to persuade a viewer to take the next step in the customer engagement journey.