Video Marketing: Importance & Benefits for Businesses
Summary: There are countless benefits of video marketing that you can’t just afford to not invest in it. And as big brands plan to pump more money into digital marketing in the coming years, the need to find creative solutions for your marketing efforts becomes inevitable. By far, using videos for marketing is the best option out there!
In 2021, $282.2 billion was spent on advertising worldwide! According to Forbes, it’s a massive increase of about 18.6% compared to 2019. It’s a huge number that makes you wonder, is there any room left to compete in 2022!? How are you supposed to get high ROI in a fiercely competitive billion-dollar market?
If you thought that was bad, it gets worse when I tell you that we’re still in the early stages of the internet marketing revolution, and the competition will only increase!
Experts and bankers are foreseeing a 12.2% increase ($320 billion in total) in ads spending in 2022 and an ongoing peak during the entire decade!
But let’s untie the tie a little, shall we?
There are creative solutions that you can quickly implement to get yourself a place in the arena!
So, let’s find out more about one of the best ones ever; video marketing!
Importance of video marketing for Businesses:
We’ve just learned that the digital marketing arena is bombarded with paid ads. And this is precisely the reason why using videos in your marketing efforts is essential. You stand out in an ads-stacked feed and grab your target audience’s attention by using videos.
But is that enough?
Let’s assume you made a video and magically reached the whole internet! Does that mean you’ll achieve great conversions? No, not if the video lacks engagement and an excellent call to action.
Your video should first be highly appealing and meet specific criteria to convert well.
While this is an entirely different topic, we hope to address it in another article. In the meantime, you can always contact us to help produce result-driven videos.
However, let’s now uncover some of the amazingly (not) surprising benefits of video marketing.
8 Benefits of video marketing for businesses and brands
There are more benefits to video marketing than meets the eye. But instead of listing all of them, we researched and selected only essential ones that’ll give you a clear idea about the whole thing.
1. Increases engagement (even lazy buyers love videos)
I have a B.A degree in Sociolinguistics. And if there’s one thing that I learned about humans, we are lazy, so lazy that we try to speak as little as possible and share as much wisdom as possible. (Well, people don’t always speak wisdom, but you get me!)
If humans are that lazy, how do you expect them to read full product descriptions, entire blog posts, or even an excellent article listing eight benefits of video marketing 😉?
Yes, we’re not expecting you to read this whole article; but we’re proud of you if you do! You’re one of the few not so lazy human beings!
But the point we intend to make is, people now have shorter focus spans than ever. The internet rewires our brains, especially from how we interact with hot media such as social media and video games.
So, gone are the days of articles that sell! The only solution left is using visuals, attractive and engaging ones!
What visuals are best for advertising?
While it’s said that a “picture is worth a thousand words”, a video is actually 60 pictures per second. Sometimes it’s even 120!
I hope that answers your question.
2. Boosts conversion rates
Including a video on a landing page increases the conversion rate by 80%.
Yes, you read that right! It’s a crazy percentage, isn’t it?
There are plenty of explanations for this. But the most scientific one could be that we use the ‘occipital lobe’ (a part of the brain) to process visual content.
This same part of the brain is also responsible for storing visual memories. And usually, we hold on to things that make us emotional!
Accordingly, when using video in advertising, you induce people to emotionally engage with your product or service.
That is to say; you’re nudging the spectators to use the emotional part of their brain rather than the logical frontal cortex. And this helps convert easier!
3. Increases brand awareness & Builds trust
So, we now know that videos are emotionally engaging. What impact may that create if we disregard conversion?
What if we’re just trying to increase brand awareness and build trust with our community!?
The first thing we mentioned about videos was that they’re far more engaging than written content. And this means you are already increasing brand awareness using visual content.
But what you may not be aware of just yet is that 90% of internet consumers confirm that videos help them make buying decisions.
This statistic is relevant because people rely on someone else in a video to help make their decision. And if you can make great videos about the features and pros (and cons for authenticity) of your product and service, you’ll be surprised with the trust people will put in you and your brand.
4. Appeals to mobile users
Let’s first look at some statistics:
- 68% of all websites visits in 2020 happened via mobile phones
- 92% of mobile video consumers share videos with others
- YouTube reports: users who watch videos on its platform with a smartphone are responsible for 70% of the total watch time
- YouTube is the second largest search engine after Google
- 98% of Amazon’s customers say they’ve watched an explainer video before buying a product
- 83.96% of people own a smartphone, and 97.3% of US citizens own at least one smartphone
These statistics make it clear that the world uses mobile phones, and the vast majority of buyers rely on videos to make buying decisions.
5. Increases social media shares
As we just mentioned, 92% of mobile video consumers share videos with others. Well, where and how do you think they do it?
Of course, through social media platforms!
And this means you can leverage humor to create viral videos that others will share, create wider brand reach, increase awareness, and generate a fine stream of organic inbound leads presented to your brand in the best way possible!
6. Helps rank better in SERPs
When we talk about watching videos, we’re also talking about users spending 2-3 minutes on the same page because of these engaging videos.
This means that adding videos to your website reduces the bounce rate massively, thereby increasing the web page authority.
Of course, this tells search engines that people enjoy your content, and therefore it’ll rank it higher in the search engine result pages (SERPs).
So, by adding videos to YouTube and integrating them into your website, you’re hitting two birds with one stone!
7. Decreases emails unsubscribe rate & increase email CTR
An email including the word ‘Video’ in its subject increases the email click-through rate by 300% and reduces the unsubscribe rate by 75%!
This makes videos inevitable if you plan on relying on email marketing for your next high ticket selling campaign.
8. Kills it in social media advertising
We’ve already mentioned enough about the benefits of video marketing. But if you insist, here’s one more: 9% of people watch an entire skippable ad on YouTube!
This is the highest rate you can ever wish for! Especially if your primary goal is to increase brand awareness!
In fact, video ads on social media drive 48% more sales than static ones!
So, get yourself a video ad already! And if you need any help, hesitate not to contact us right now.