Did you know that more than 500 million hours of video are watched on YouTube each and every day? Or that almost two-thirds of all Google searches feature video? Consumers increasingly value video content. If given a choice between learning about a product on a webpage via text or via video, an estimated 4 out of 5 would choose video. Just adding a video to marketing emails can drive up click-through rates by a staggering 300 percent, while embedding videos within landing pages can increase conversion rates by up to 80 percent.
The role of video in marketing is only anticipated to grow. In the coming years, video will be a main driver of traffic. Mobile video consumption grows by around 100 percent each year, and it is estimated that by the end of 2019, video will drive roughly 80 percent of all internet traffic. The bottom line is that companies need to start investing in all aspects of the video marketing process in order to compete, from video production and editing to syndication across relevant channels.
To make the right decisions as you craft your video marketing strategy, here is everything you need to know about the future of video marketing.
The Evolving Landscape of Video Marketing
As video becomes more important, it is increasingly having an effect on marketing as a whole. Video marketing is a highly impactful form of marketing – and this impact will only grow. Let’s take a look at how the landscape of video marketing is evolving and what that means for brands.
· Video can increase your brand’s visibility and exposure. Video marketing is essentially the most shareable form of content out there, and the rates at which it is shared continue to grow. That means that a single piece of video content can have a significant impact on your brand’s visibility.
“It is estimated that 92% of people who consume mobile videos share them with other people. This is a massive portion and is higher than the share rate of many other types of content out there,” Matt Boman explained in Forbes. “Video is shared 1,200% more than both links and text combined. Also, 60% of viewers will engage in a video post before a text post. Because of this, video content is a powerful tool for any brand that wants to expand its reach online or enjoy wider audiences.”
· Video has a growing impact on consumers’ purchases. Nine out of 10 consumers say that product videos have helped to inform their purchasing choices, while roughly two-thirds of consumers say that a marketing video on Facebook has had an effect on a purchasing decision made within the past year.
· The importance of video on social media is growing. Consumers are increasingly tuning into sites like Facebook with the expectation of consuming video content from their favorite brands. To be successful, brands need to syndicate video content on social media sites.
· Video production costs are decreasing. However, the power and influence of video marketing are rapidly increasing. This means that moving forward, video marketing can have a powerful impact on the ROI of your marketing campaigns.
“As video marketing garners traction, so too does technology and ease of videography for even the smallest of businesses. The quality standards of video production have increased, and at the same time, the cost of production has radically decreased,” Joe Beccalori explained in Forbes. “Even ‘poor quality’ video shot on a smartphone — void of professional lighting and audio — outperforms text and images alone.”
The bottom line here is that as video marketing continues to evolve, its impact will continue to increase. To capitalize on this, it is important for brands to start investing in video marketing now to stay ahead of the curve.
The Future of Video: What Every Business Should Know
When it comes to the future of video, two things remain key: authenticity and engagement. Customers increasingly want videos that resonate with them and feel authentic, as well as videos that provoke actual interchange. In addition, customers are wanting to see video that is live – some of the most popular content on the web is actually filmed and broadcast live, giving it an extra authentic feel.
“In the case of video marketing, the gap between the brand and its audience is starting to close, maybe more than ever before. The audience expects videos that are tailored to the channel, they expect authenticity, and they expect the brand to move as quickly as they do,” the American Marketing Association (AMA) explained. “Shooting a highly produced piece of content on a smartphone can come across as inauthentic, as can a video that tries to tell the audience what to do rather than conversing with them on a social media channel.”
If customers feel that a video talks at them or somehow disrupts their online experience, they are becoming less likely to be forgiving. Therefore, it is increasingly important for brands to hit the nail on the head in terms of what they’re doing with video. It also is crucial that they are using it to tell stories that feel authentic and drive meaningful engagement with their target audience. Remember: As video content becomes more prominent, it will be increasingly difficult for brands to capture and maintain consumer attention through the noise – as just the top 5 percent of all videos manage to retain over three-quarters of viewers to the very last second.
Successful Video Marketing Is the Key to Success
Successful video marketing is no easy feat. All aspects of the videography process – including video editing and video production – require an investment of a company’s time, energy, and resources, as does the process of syndicating video content across the appropriate digital channels. However, a company simply can’t afford not to be in the video marketing game. If you need help with your video marketing strategy, your best bet is to contact a professional like those at 10twelve Creative Agency.