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Video marketing is proven to be one of the most effective marketing tactics, giving a boatload of benefits that are helping various sectors in achieving phenomenal success. Before diving right into the blog, let’s look at some of the surprising stats to validate the effect of video marketing.
- Video helps in generating traffic on a website by 300%
- Almost 72% of online users use videos to learn more about multiple products.
- The possibility of sharing gets doubled if the consumers like your brand’s video.
- 54% of the consumers are willing to see more videos from their favorite brands.
It gained popularity because nowadays nobody has time to sit and read big lengthy descriptions. It not only saves them the time of reading lengthy articles but video content is comparatively more engaging than any other format. This versatility of higher engagement offered the video content an edge over all other formats.
According to Wire Buzz, brands that use video marketing grow 49% faster compared to brands that do not use video marketing. From education to business, every industry is today using video content to create awareness and educate its target audience. Video marketing can give a great boost to your strategic business objective linked to marketing. After knowing this, there is no surprise in the fact that from major conglomerates to small businesses, everybody nowadays is focused on creating an effective video marketing strategy.
TYPES OF VIDEOS
Moving ahead, In every business, there are multiple types of videos that can be used to attract the attention of the target audience. The need is to identify the demands of your target audience and plan strategically about what type of content will get more views. To substantiate further, here are a few types of video content for businesses.
- Commercials - Commercials or advertisement videos are the type of content that directly promote or sell the product or service of your business.
- How to or tutorials - In this type of video, you create awareness to your target audience of how to use your product or service.
- Testimonials - These are the types of video in which you shoot the experience of your existing customers to present as social proof to attract new consumers.
- Explainer - The title pretty much clears itself, a video that explains anything to your consumers related to your business and is known as explainer videos.
- Infomercials - In this category, there is a collision of the above-given two types: explainer and commercial, and that will result in an infomercial video. It means a video that gives information about a particular product that has a particular call to action included in the video.
5 SALIENT ADVANTAGES OF VIDEO MARKETING
Moving ahead, now that we have understood the effect of video marketing and various types of videos, it's time to look into the multiple advantages of creative video marketing. Hence, the top 5 advantages are illustrated below -
Influences purchasing decisions
Recently Google research revealed that 55% of consumers say that they use online videos before making a purchase decision. Videos make the product information more credible and make it easier for consumers to trust the business.
Continuing further, audio-visual content has more power to persuade the human mind than any other medium because it not only makes the content more engaging but also helps in increasing the retention power of consumers towards your product or business. To validate, according to Insivia, users retain 95% of the message in a video compared to 10% retention of users while reading it in a text.
Moreover, Video content assists in making more informed decisions regarding any purchase because people can understand things better in a visual format. For instance, If an individual wants to buy a new phone, they can simply watch 2 to 3 videos comparing and explaining the descriptions of different phone models rather than reading each phone’s description separately.
This will not only educate your buyer but there are possibilities that their purchasing decision can be persuaded from one particular model to your product or business service. Hence, a video with good quality content can help in influencing the purchase decision of customers.
Offers SEO benefits
Ignoring SEO while creating a marketing strategy is the biggest blunder any strategist can make. Because SEO can play a major role in enhancing your business growth. Moreover, Google especially takes note of your traffic while ranking your page on SEO. In addition, as per the stats given by Cisco, 81% of the website traffic will come from adding videos on the website by the end of 2022.
Adding a video to a website offers multiple benefits but it is not just any video that needs to be added, it is a collaborative effort of quality along with the correct presentation. For instance, if you write an article with good quality along with an informative video related to your topic, there are pretty good chances that you will get backlinks from other websites. Many industries that are selling multiple products are using this strategy to boost their rank on SERPs (search engine result page).
Boosts conversion rates
As per stats given by Digital Agency Network, effective video content when placed with a creative video strategy can boost your conversion rates by 80%. This stat efficiently justifies the above-given advantage.
Let’s understand this using an example, 2 websites are selling water bottles with almost the same product features. One business owner added a video explaining all the details including the benefits, features, and price of a bottle. On the same hand, the second business owner wrote all the descriptions including the same details as of the first business. The information is well written but is in the text format.
According to you which one will rank higher and what are the chances that a consumer will choose to read the description rather than watch the detailed video? So, if we keep the above given stat in mind then the answer is obvious that the chances of conversion of a potential consumer are more in the first one where the video is an additional factor that can influence the conversion rate.
Facilitates higher engagement
Video marketing strategy acts as a bridge between a brand and its consumers. Adding effective video content can increase the user engagement rate and decrease the chances of customers leaving your website without initiating an action.
According to research, effective video content gets the most shares and increases engagement rates and combining a video with full-page ads can boost the engagement rate up to 22%.
Moving further, endorsement of influencers of a particular industry in video marketing can be an effective way of increasing engagement of the video of your business. Because people like to follow and seek advice from their favorite influencers.
Additionally, it is crucial to choose industry-oriented influencers because that way you will be directly targeting the right audience. For example, if you own a business in the IT industry, endorsing an influencer from an IT company in your video would be a better option rather than going to a celebrity because an IT influencer has the right target audience whom you want to address. This will effectively increase the growth of your business along with the enhancement of your online presence.
Enhances scope of brand storytelling
Storytelling is a new trend in the marketing world in which different companies effectively use the storytelling approach to narrate their brand story to connect with the target audience at a personal level.
Effective video marketing strategy with a good quality of video content can increase the scope of brand storytelling that can assist in making a successful bond between the consumers and a brand.
Multiple types of appeals can be used which can help in forming an emotional relationship between both parties. Video being an engaging and, easy to share medium, can make an impact on the minds of consumers which can help in increasing sales and profits of the company.
For example, Coca-Cola, one of the biggest beverage companies created a video with the tagline ‘happiness starts with a smile’ with an emotional appeal to create effective storytelling along with the brand promotion. The same video got a huge positive response from people supporting and sharing the videos with their loved ones. Hence the video created an impact on its views and audiences remembered it as a Coca-Cola initiative to spread smiles. This increased the positive reputation of the brand and this enhanced scope of storytelling through video made their message quite powerful and impressive.
In conclusion, whether we believe it or not, video marketing is going to just expand and is going to have a great hold on marketing in the future. Hence, it is crucial for businesses to effectively understand the supremacy of video marketing and then use it to their benefit.
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