For years, companies have struggled to find a place for video marketing in their budget. When faced with a plethora of options for digital marketing, video often gets pushed to the bottom of the pile with a dog-ear for “next years budget” or allowed a skimpy budget with Hollywood expectations.
For the first time in history companies see video as a need, and not a want. In fact, 70% of marketing professionals say that video converts better than any other medium, according to MarketingProfs.
The secret is out…More and more companies are looking around at their competitors to see how they are gaining market share, increasing revenue, and standing strong is a fury of digital content.
The answer is simple: VIDEO.
If you are still unconvinced, consider this…
- 96% of B2B organizations are using video as part of their online marketing (Source: ReelSEO B2B Video Content Marketing Survey)
- Social video generates 1200% more shares than text and images combined. (Source: Brightcove)
- Companies using video enjoy 41% more web traffic from search than non-video users. (Source: Aberdeen)
- 73% of B2B marketers say that video positively affects their marketing results (Source: ReelSEO B2B Video Content Marketing Survey)
- Video on a landing page can increase conversions by 80% or more. – (Source: Visually)
- Businesses using video grow company revenue 49% faster year-over-year than organizations without video. (Source: Aberdeen)
The absence of quality video on your website today is the equivalent of not having social media three years ago or a website five years ago.
In a quote famously attributed to Thomas Paine, “lead, follow, or get out of the way” seems the perfect sentiment to describe the video revolution for digital marketing. Companies that lead the way with a marketing strategy that creates a progressive, intuitive video marketing experience have higher sales volume, stronger retention of ongoing customers, and a deeper customer-driven connection to brands.
If you are asking yourself WHY NOW, then you are asking the right question. It has been “the year” for video marketing for the past few years. Video marketing is not an emerging trending for companies and brands. Quite the opposite.
Due to the rise of the mobile-friendly web, easy internet access, and a new generation that demands video content, marketing conversation has shifted from consideration of the validity of video, to how best measure video performance and fully optimize it for higher response and conversion rates. A new world order of video marketing has also risen because, according to eMarketer, the average person spends about 5.5 hours a day watching video content and watching video content on a mobile device is increasing year over year! In short, video marketing is NOT an emerging experience for consumers – it is an immersing experience for consumers!
It is easy to nod your head and concur the unprecedented power of video with these stats represents an exponential increase in the market share of video over just the past few years.
In truth, video has long outperformed still photographs for engagement and sharable content. Video is the vehicle that touches the buyer’s need for a visual understanding of WHY THIS COMPANY, and to connect with the information in a way that compels them enough to purchase. Video invites, engages, and captivates people in a way that engages our brains emotionally.
For example, according to StatisticBrain, YouTube receives over 9 billion unique visits every month resulting in over 4.9 billion videos viewed on YouTube every day and 3.25 billion hours of video watched on YouTube each month. To be quite honest, billions and billions of people (every month) cannot be wrong.
Today, over 65% of all internet traffic is video, and according to a recent study by Cisco, by 2019 87% of all the world’s internet consumption will be video!
In the past, we have experienced a digital marketing mindset that added video as an afterthought. In the future, video is critical to engaging and converting buyers. Video must present an irresistible message on your website, in an email blast, and in numerous social media channels to drive clicks and increase conversion.
In 2016, it will be necessary for companies to rethink their marketing strategies to (re) incorporate video as a cornerstone to success. Especially as buyer demographics evolve, particularly with Millennials that prefer video to text almost unanimously, the need to have video content to reach this growing market segmentation is critical. Currently, ExpandedRamblings reports that 81% of Millennials and 58% of GenX use YouTube regularly.
Now, a company must have video that represents a highly engaging brand story to carve out a piece of those 5.5 hours of video the average person watches every day. Due to the push of content from every direction and the pull of short focus for nascent users, digital marketing needs to center around video marketing to claim the brain of users.