Updated: Dec 10, 2018
If you haven’t already budgeted for video production in your marketing strategy, you’re behind. People watch more than 500 million hours of online videos each day, and that number is only going to increase. By 2021 (FYI: that’s only three years away), 80% of global internet traffic will be people watching videos. Fortunately, video isn’t a Ricky Bobby-If-You’re-Not-First-You’re-Last scenario. It ALWAYS makes sense to add video marketing to your overall marketing strategy, proven by the stats below. Because we’re all for digestible content (we’re a video company after all), scroll to our TL;DR key takeaway at the bottom of the page and give this entire article a read later for powerful stats to support your video marketing pitch to your boss or client.
Video Production=Smart Marketing Strategy=More Cash Money
Why splurge on a corporate video or branded video now? First, it’s not a frivolous use of funds; it’s a strategic investment, especially when you work with a professional video company. Waiting to launch a digital marketing campaign means you’re missing opportunities to convert site visitors to paying customers. The proof is in the numbers:
Adding a product video to your site can increase conversions by 80%
Embedded videos increase website traffic by 55%
More than 80% of people surveyed were convinced to buy a product after watching a branded video
Companies using video marketing grow revenue nearly 50% faster than companies that don’t
Videos Have Great ROI
No matter your industry, your peers, partners and competitors agree: Professional videos provide a great return on investment. 93% of businesses using video marketing believe it directly increased user understanding of a product, and nearly 64% believe their videos directly increased sales. That’s the power of a well-crafted, high-quality video. It influences consumers at all stages of the sales funnel. The only time research shows a video will hurt you? When your video doesn’t explain the product or service clearly, which is totally avoidable when you work with a professional.
Video is Versatile
There are dozens of ways to use video marketing for an advertising campaign, including social media advertising, YouTube advertising and targeting/retargeting ads. Even if you find success in traditional advertising avenues, think about launching a digital marketing campaign to reinforce your efforts. Watch how Denny’s re-evaluated its target market with digital marketing:
Creating several types of videos ensures a cohesive campaign with messages relevant to consumers at different points in the sales funnel. Consider the following types of videos for your website or advertising campaign:
Explainers educate people new to your product or business. According to this WyzOwl analysis, 98% of respondents said they watched an explainer video to learn more about a product or service.
Demo videos provide instructions and how-tos.
Interviews encourage conversation, showcase an expert and offer opportunities to expand your audience.
Product reviews create trust — here’s a regular person using your product, or even better, here’s a social media influencer with a devoted following who loves and endorses your product. It’s essentially free advertising for you!
Live videos also build trust — they’re personal and show the authenticity of your company. Live video (think Instagram Stories and Live, Snapchat and Facebook Live) are great for social media advertising campaigns, which is important because...
Your Audience is Watching Videos...
More than 30 million people use YouTube every day. That’s a lot of how-tos, product reviews and cats. And it’s not just Millennials and Gen Z watching (though they definitely are — Millennials prefer YouTube to regular TV two to one). YouTube’s fastest-growing demographics are 35+ and 55+. No matter your industry or product, your target markets are watching videos.
...And They Trust Video Advertising
Video on social media is shared an incredible 1,200% more often than text or photo links. Proof: The most-shared Facebook post of 2018 was the “Despacito” music video linked above — all shares that contributed to its amazing 4 billion total views. Social sharing is great word-of-mouth marketing and free PR from your target market’s most trusted source: A network of friends and family. Simply having videos makes your brand more trusted, too. Nearly 60% of these survey respondents say videos gave them more confidence to buy online.
Know Who Else Loves Videos? Google.
Google owns YouTube, and it emphasizes the currency of its video moneymaker. Adding videos to your site increases SEO and your Google ranking. A quality video means quality content — Google’s number one ranking factor. When it comes to video advertising (which can be as easy as a shorter iteration of a video on your site), Google WANTS you to succeed because successful ads mean it gets a continued source of revenue. Check out YouTube’s ABCDs of effective creative. In short: Tell a great story to capture target markets — something professional video companies have years of experience doing.
TL;DR Key Takeaway: Profesh Video Marketing is ALWAYS Successful
A high-quality video:
Increases website traffic and conversions
Provides great ROI
Fits in any marketing strategy
Reaches your intended audience
Builds trust between your brand and your target market
Improves SEO and ranking on Google
You’ll achieve all of the above when you work with a video professional (like us hint, hint). Here’s our pitch to you:
BG Video is founded on a lifelong passion for cinema and video. We know what we’re doing and have the tools to tell your brand’s story creatively and effectively. Plus, we’re a fun bunch, so you’ll have a good time in the process. Much better than trying to make a commercial on your iPhone, right? Let’s get started on your project today. Click to talk to us now!
Hey, Where’d You Get Those Stats?
Here are all our sources for all the researchers, statisticians and people already down the internet rabbit hole: